Nickel Melt Value: What a 5-Cent Coin Is Worth in Metal
As of October 2, 2026, with COMEX copper at $6.49 per pound and LME nickel at $15,523 per metric ton, a US nickel has a melt value of about 7.31 cents, 1.46 times its 5-cent face value. The copper in it is worth 5.37 cents and the nickel 1.94 cents.
Every US nickel since 1866, apart from the 1942 to 1945 war issues, is 5 grams of 75 percent copper and 25 percent nickel. The melt value below uses the live COMEX copper and LME nickel prices.
Melt value per coin
7.31¢/coin
- Copper content
- 3.75 g (plus 1.25 g nickel)
- Purity
- 75% copper, 25% nickel
- Copper spot
- $6.49/lb
- As of
- Oct 2, 2026, 17:16 UTC
1 coin: 7.31¢
Zoom, every timeframe, and technical indicators
Price Chart
EmbedPartner offers. We may earn a commission.
Partner offers. We may earn a commission.
How Much Is a Nickel Worth in Metal?
A nickel is mostly copper. Of its 5.00 grams, 3.75 grams are copper and 1.25 grams are nickel. Copper is quoted per pound on COMEX and nickel per metric ton on the LME, so each part is converted to a price per gram before it's added up.
| Metal | Grams per coin | Share of weight | Price | Value per coin |
|---|---|---|---|---|
| Copper | 3.75 g | 75% | $6.49 per pound (COMEX) | 5.37¢ |
| Nickel | 1.25 g | 25% | $15,523 per metric ton (LME) | 1.94¢ |
| Total melt value | 5.00 g | 100% | 7.31¢ |
At these prices a $2 roll of 40 nickels holds $2.92 of metal, and a $100 box of 2,000 holds $146.12: 7.5 kilograms of copper and 2.5 kilograms of nickel.
Nickel Melt Value at Different Copper and Nickel Prices
Melt value per coin in cents. Rows are copper per pound, columns nickel per metric ton. The bold cell is closest to today's prices. Copper moves the figure more: each $1 per pound adds about 0.83 cents, while each $1,000 per metric ton of nickel adds 0.125 cents.
| Copper per lb | Nickel $10,000/t | Nickel $12,500/t | Nickel $15,000/t | Nickel $17,500/t | Nickel $20,000/t |
|---|---|---|---|---|---|
| $5.50 | 5.80¢ | 6.11¢ | 6.42¢ | 6.73¢ | 7.05¢ |
| $6.00 | 6.21¢ | 6.52¢ | 6.84¢ | 7.15¢ | 7.46¢ |
| $6.50 | 6.62¢ | 6.94¢ | 7.25¢ | 7.56¢ | 7.87¢ |
| $7.00 | 7.04¢ | 7.35¢ | 7.66¢ | 7.97¢ | 8.29¢ |
| $7.50 | 7.45¢ | 7.76¢ | 8.08¢ | 8.39¢ | 8.70¢ |
Which Nickels Are 75% Copper?
The 75/25 copper-nickel alloy dates to the Shield nickel of 1866, and every regular five-cent coin since has used it at 5.00 grams, with one exception. From October 1942 through 1945 the Mint struck Jefferson nickels in 35 percent silver to save nickel for the war. Those coins carry a large mint mark above Monticello and are priced on their silver; see the war nickel melt value page and the silver coin melt values table.
| Series | Years | Weight | Composition | Melt value |
|---|---|---|---|---|
| Shield nickel | 1866 to 1883 | 5.00 g | 75% copper, 25% nickel | 7.31¢ |
| Liberty Head ("V") nickel | 1883 to 1912 | 5.00 g | 75% copper, 25% nickel | 7.31¢ |
| Buffalo (Indian Head) nickel | 1913 to 1938 | 5.00 g | 75% copper, 25% nickel | 7.31¢ |
| Jefferson nickel | 1938 to date, except October 1942 to 1945 | 5.00 g | 75% copper, 25% nickel | 7.31¢ |
| Jefferson war nickel | October 1942 to 1945 | 5.00 g | 56% copper, 35% silver, 9% manganese | Priced on silver |
Is It Legal to Melt Nickels?
No, with narrow exceptions. A Treasury rule in force since December 2006, now 31 CFR Part 82, bans melting or treating US 5-cent and one-cent coins. It was adopted when rising copper and nickel prices pushed the metal in both coins above face value. Treating coins for educational, amusement, novelty, jewelry and similar purposes is exempt. Exports are capped too: a traveler may carry up to $5 in face value, or $25 for legitimate personal numismatic, amusement or recreational use, and a single shipment of up to $100 face value is allowed when the coins are used as money or for numismatic purposes. Violations carry a fine of up to $10,000, up to five years in prison, or both. Saving and selling intact nickels is legal. The same rule covers pennies; see the copper penny melt value page.
Which Nickels Are Worth More Than Melt?
A circulated Jefferson nickel is worth its face value, and its metal is usually close to that. Collector premiums come from date, variety and grade. Well-known examples include the 1885 and 1886 Liberty Head nickels, the 1913-S Type 2, 1918/7-D overdate and 1937-D "three-legged" Buffalo nickels, and the 1939-D and 1950-D Jeffersons. Buffalo nickels lost their dates to wear easily, and dateless ones sell in bulk lots for a small premium over face.
Published by MetalCharts, a free precious metals resource providing real-time prices, interactive charts, educational guides, and portfolio management tools. All market data sourced from COMEX, LBMA, and LME.
Data Methodology
How is the melt value per coin calculated?
Where does this price data come from?
How is the copper spot price determined?
When is the copper market open?
Explore MetalCharts
Free tools and data for precious metals investors