I’m doing a chemistry assignment and I have to design a coin. Denver Contractor . Corel Videostudio Pro X3 Review . Can anyone tell me if the manufacturing of the coin will cost less than the face value?
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You can go to http://www.bloomberg.com and look up commodities. That will give you today’s closing price for nickel and copper. High grade copper trades in 25,000 lb. lots. I can’t recall about nickel, but you can look that up when determining how much per pound.
I can tell you, that the US Government spends more to manufacture pennies and nickels than the coins are worth. In other ages, people shaved the edges of coins to save $ ( and kept the silver or gold,too, that coins were made of…) Have you seen foreign coins that have holes in the middle? That’s because they save $ on that design. Now, one thing you have to consider is that a coin can be in circulation for many years, while paper money wears out within a few years–so the life of the coin has to be factored into the pricing.
Do you have to design your coin using metal? maybe you can design a plastic coin? That would be a lot cheaper, The price of nickel and copper fluctuates daily. Copper closed today at 3.7650 USD/MT. Nickel closed at 26895 USD/MT. Hope this helps you! Good luck on your assignment.