It is no secret that a nickel is worth five cents which is much higher than what a penny is worth. To arrive at how many nickels would make 100 dollars, we must understand the value of the nickel.
How Many Cents Make A 100 Dollars
To solve the problem, it is imperative to understand that you must count in the value of 5 and be aware that 100 cents make 1 dollar.
A total of 100 cents is equal to a dollar, and since one nickel is worth 5 cents, that would mean counting in the value of 5 to reach 100. This would equate to having 20 nickels to make 100 cents which will then equal 1 dollar.
To answer the question presented above, you must know that for every 20 nickels, you have a dollar. To get 10 dollars, you would simply need to multiply 20 by 10 which will sum up to 200, which means 200 nickels would equal 10 dollars.
Furthermore, to arrive at 100 dollars, you must multiply 200 nickels by 10, which would sum up to 2000, and become the equivalent of 100 dollars.
Origin Of The Nickel
Axel Cronstedt, a Swedish scientist, was the first to identify and isolate it as an element in 1751. It became well-known in the nineteenth century for plating and alloys such as nickel silver which contains copper and zinc. This alloy was given its name because of its color; it does not include any silver!
Miners in Germany in the 15th century discovered a brown-red ore that they thought contained copper. Because they couldn’t collect copper from it, they named it “Kupfernickel or Devils’ Copper”.
In1866, it was discovered in the United States. It was believed that a nickel alloy five-cent coin would be a good exchange for the five-cent paper notes that were in use at the time.
It is important to note that the U.S. Mint reports that only 25% of the metal used to make today’s nickels is present in them. Copper is used in making the coin’s remainder.
Types Of Nickel Coins:
Nickels are significant for reasons other than their monetary value. Their design and dates tell a story about individuals and events from a specific period. The different types of nickel, are distinguished by the years they were made, examples are:
- Shield Nickel
- Liberty Nickel
- Buffalo” or “Indian Head” Nickel
- Jefferson nickel
Shield Nickel
The shield nickel series are dated between 1866 and 1883. They’re the most popular in the United States, and the most in-demand have sold for a lot of money at auctions. Shield nickels were only made at one Mint in Philadelphia. As a result, they do not have a mintmark.
Liberty Nickel
The Liberty Nickel became available in 1883. The words “Five Cents” were not printed on the back of the first copies. As a result of this oversight, enterprising individuals gold-plated the coins, reeded the edges, and resold them as fresh $5 Half Eagles. Later in 1883, the Mint promptly corrected the mistake by putting “Five Cents” on the coin’s backside. 1885, 1886, and 1912-S are important dates from the “Liberty Nickel” series. Only five 1913 Liberty Nickels have been discovered, and they are thought to have been made in secret at the Mint.
Buffalo Nickel
The Buffalo nickel has been minted for 25 years and is considered the pride of American coinage. Its design is based on the country’s history. On one side, a Native American is depicted, while on the other, a buffalo stands atop one of the country’s most beautiful vistas. It is a well-known coin among collectors. Those in mint condition sell for more money than those that have been used. The Buffalo nickel’s value is affected by several factors including its scarcity and value as it ages.
Jefferson Nickel
The words “In God We Trust” are etched on the head of this nickel. They are also in high demand, as seen by their auction prices. The Jefferson nickel is the most durable of the five-cent denominations. In almost sixty years, there have been no major changes to its original design. It features a portrait of Thomas Jefferson, making it one of three American coinage series with a prior president.
Why The Nickel Still Holds Value Today
Nickel production costs more than it is worth. The coin is only worth five cents, but the metal is worth between eight and sixteen cents at melt value ( Desai Saahil, 2022). This has created a demand, which has led to preserving the remaining coins in circulation.
Frequently Asked Questions
- Is the nickel made of copper?
It is made up of 75% copper and 25% nickel.
- Is the nickel worth more than a quarter, a dime, and a penny?
A penny is worth one cent, a nickel is five cents, a dime is ten cents and a quarter is twenty-five cents.
