Nickel: the other precious metal.

cladking · January 22, 2007 7:19AM

You may remember the LME defaulted on nickel contracts a few months
back. Well it is now up over $1 per ounce and climbing. The price of sil-
ver was less than a quarter of this back in 1935.

Bloomberg article

Will the US government hurry to remove the nickel in nickels if a shortage
becomes severe? A few billion nickels would make a lot of surgical instru-
ments.

Bear · January 22, 2007 7:31AM

I am swallowing as many nickels as I can.

I hope to become the strategic nickel reserve

for the Nation.

Cladiator · January 22, 2007 7:34AM

a bar of .999 fine nickel might be pretty neat.

Bear · January 22, 2007 7:47AM

2007W Eagles in the 5 metals

Platinum, Gold, Silver and Nickel & Copper.

That would be Kool.

kwmorgan · January 22, 2007 8:03AM

I smell a nickel plated steel 5 cent piece in our near future.

kwmorgan · January 22, 2007 8:10AM

I also am wondering what the melt value is on Canadian 25c made from 1968-1999. They are 99.9% nickel.

cladking · January 22, 2007 3:22PM

<< <i>I also am wondering what the melt value is on Canadian 25c made from 1968-1999. They are 99.9% nickel. >>

I believe these are about 60 to the pound which is $15 Canadian and about $13.50 US. At over $17 per pound they should be getting destroyed. The Canadian government has been removing these from circulation for years and replacing them with steel coins. They've even been removing coins with less than full metallic value since they still profit when reissuing cheaper coin.

I warned people last year that nickel could move sharply higher. It looks as though this move is not over. There is speculation so risk will remain high for some time though. There is relatively little new production coming on line and demand for stainless steel just keeps growing. This demand is fairly price elastic so watch for some uses to start decreasing.

Nickel: the other precious metal.

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