Metals to make coins will it be cheaper to buy them in coming years?

YaHa

I heard tonight on CNN and some other news channels that CHina, AUstralia and other countries are being hit hard by the global meltdown in the recession and each country are combining steel mills from 5 to 2 and 3 to 1. Thus cutting output and competition. They also said the race to huge prices is over and steel and other metal outputs prices will be cut in half in the years to come. This is also hurting mines through out Europe.

So my question is will coins be cheaper in price at the U.S mint since it will be cheaper to buy bulk metals for coin making?

It would be nice to see a two roll set of nickels in 09 sell for $5.95 instead of $8.95. Also those fugly $ers with the Pres on them sell for a lot less than they sell for now. What do ya think?

Steve27

I think you must be kidding. The cost of the metal to produce a nickel is now below three cents, but that had nothing to do with the price the Mint charged for rolls. Instead, start looking for a price increase due to increased shipping costs.

YaHa

<< <i>I think you must be kidding. The cost of the metal to produce a nickel is now below three cents, but that had nothing to do with the price the Mint charged for rolls. Instead, start looking for a price increase due to increased shipping costs. >>




Steve having ones fingers crossed never hurt anyone. I am a dreamer, a welcomer of new changes, hell I am a wisher and still didn't hit the Mega Millions last night. But I did stay at a Holiday once.

COINB0Y

<< <i>I heard tonight on CNN and some other news channels that CHina, AUstralia and other countries are being hit hard by the global meltdown in the recession and each country are combining steel mills from 5 to 2 and 3 to 1. Thus cutting output and competition. They also said the race to huge prices is over and steel and other metal outputs prices will be cut in half in the years to come. This is also hurting mines through out Europe? >>



LOL, you should be getting your News from the PCGS PRECIOUS METALS Forum, not dumb ol' CNN!!

Compared to Oil, Copper, Corn, Gold has held up significantly from its top.