PREV ARTICLE
NEXT ARTICLE
FULL ISSUE
PREV FULL ISSUE
V10 2007 INDEX
E-SYLUM ARCHIVE
The E-Sylum: Volume 10, Number 31, August 5, 2007, Article 20 WHAT IS CAUSING THE RISE IN COINAGE METALS COSTS? Dick Johnson writes: "It may be obvious to some, but there are two reasons for rising metal costs driving up the cost to manufacture coins, not just for the United States, but for all coin-issuing countries. It is just a fact the United States has not attacked the problem head on (at least Treasury Department officials remain extremely closed-mouthed about any plans they may have). "Major reasons for the rising costs are labor strikes in metal producing areas of the world, like Chile, Peru and other areas. This is causing a shortage at a time of increasing demand. Labor problems can be solved, however. "Of far more critical influence is China. Their rising economy is causing a tremendous demand for products, all kinds of products, particularly those with metal components. China is the culprit, their demand for metal is unfettered, forcing up metal prices. "With rising world metal prices this is having an effect for scrap metal dealers everywhere (they now called themselves in the metal recycling business). Copper, for example -- the most prominent component in coins worldwide -- has risen in cost from 60c a pound as recently as June 1999, to now around $3.50 a pound. "And this is leading to theft of copper, as in pipes, roofing, and appliances, particularly in America. The travails of the metal recyclers are increasing. An interesting article was published this week in the Asbury Park Press of a New Jersey metal dealer. The law against melting cents and nickels is prominent in his mind. He refuses to buy coins for their metal content." To read the complete article, see: Complete Article Wayne Homren, Editor The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org. To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@coinlibrary.com To subscribe go to: https://my.binhost.com/lists/listinfo/esylum | |
PREV ARTICLE
NEXT ARTICLE
FULL ISSUE
PREV FULL ISSUE
V10 2007 INDEX
E-SYLUM ARCHIVE