Illustration by Elias Stein
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The nickel is worth more than a dime. Nickel prices, for the metal not the coin, spiked to $100,000 per metric ton on the London Metal Exchange this past week before trading was halted. The metal had traded around $25,000 a ton before the run-up, when it cost the U.S. Mint more than five cents to make a nickel.
At $100,000 a ton, a nickel, composed of 25% nickel and 75% copper, is worth about 16…
