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What is going on today? Kitco shows Nickel down 33% !! Anyone have insight on this. I can't find any related news at all.

Wow, thats kind of crazy.....

Quick! Sell all of you nickels to me before they go down any further!

Rodebaugh wrote:Quick! Sell all of you nickels to me before they go down any further!

No point, 5$ is the floor, below that they are worth more as money than melt........

Price rebounded back to normal? Coinflation shows nickel down just 10 cents.

Looks like it was a Kitco error? That is what I assumed this morning, but then Coinflation and a couple other sites had it at $5 as well. It made no sense to me that Ni would tank like that while all the other metals remained relatively unchanged. Huh, Glad I did panic not sell off my stash to the Dr. rebound

Everything looks like it is back to normal now. Phew!

I think I've seen errors happen before too.

I think the other sites pull their info from kitco......

I get market papers... I tried to upload them but I gues sthey are too big. Any idea how to upload JPEGs? Ill post them if i figure out how.

Nickel Spot was 8.46 down 1.25 last i looked.

mtldealer wrote:I get market papers... I tried to upload them but I gues sthey are too big. Any idea how to upload JPEGs? Ill post them if i figure out how.

Host it on tinypic or photobucket then post the link with the [img] tags.

Fat finger?

when in doubt of kitco prices on nickel you might check the JJN etn price. Its not the same, but it will give you an idea when kitco nickel futures go wild and you would like to confirm. There is one for copper as well (JJC).

slara512 wrote:when in doubt of kitco prices on nickel you might check the JJN etn price. Its not the same, but it will give you an idea when kitco nickel futures go wild and you would like to confirm. There is one for copper as well (JJC).

This BBC News Market Data page also shows percentage changes for nickel and copper prices.

It's still steady of you check JJN or the BBC link. I am still confident that this is just a Kitco error. A fairly annoying error!

is that BBC link quoted in british pounds or US dollars, or post conversion US dollar, or post conversion british pound,....18,190 a ton is $9.09 per lb. ; that isn't right, ???? I don't know but this is scary, especially on a day when silver has dropped so much..., NHsorter, you are on my mind everyday.

frugi wrote:is that BBC link quoted in british pounds or US dollars, or post conversion US dollar, or post conversion british pound,....18,190 a ton is $9.09 per lb. ; that isn't right, ???? I don't know but this is scary, especially on a day when silver has dropped so much..., NHsorter, you are on my mind everyday.

oh crap,,,,,,,,i just did the math as 18,190 / 2000 = 90.95 = $9.09USD, then converted $9.09USD into British Pound and came out to 5.79996 GBP http://www.x-rates.com/calculator.html

kitco quotes it at $5.26 http://www.kitcometals.com/ ?????????????

You need to make sure you use the right type of "ton" 2000 or 2240.

frugi wrote:is that BBC link quoted in british pounds or US dollars, or post conversion US dollar, or post conversion british pound,....18,190 a ton is $9.09 per lb. ; that isn't right, ????

Prices are quoted in “$/m tonne”, which is US$ per metric tonne.

A metric tonne is 1000 kg, or 2204.6 lb.

So $18,190 per metric tonne is $8.25 per lb.

thank you for clearing that up for me, I couldn't find what the money was that was used on the site, other than the $ sign,, anyhow sounds good! whew!

dpwozney wrote:

slara512 wrote:when in doubt of kitco prices on nickel you might check the JJN etn price. Its not the same, but it will give you an idea when kitco nickel futures go wild and you would like to confirm. There is one for copper as well (JJC).

This BBC News Market Data page also shows percentage changes for nickel and copper prices.

Hey I like the idea of the BBC quoting by the ton, since thats the goal isn't it? Copper By The Ton

When they remove nickel from the US nickels and British 20 and 50 pence (they just did the 5 and 10 pence this year) Then you can start quoting nickel per ounce if/when it starts hitting $30 per pound (came very close at $23 back in 2007)

The melt tonnage of nickel in US coinage is suprisingly small. 1966 to current or so of 8% plating, really means that if you built two aircraft carriers using 5% nickel in the hull you would probably use up a huge chunk of coinage nickel in the US (The US currently has enough nickel for its existing 10 aircraft carriers)

Or, if you melted down the entire nickel content of the US coins, you might be able to squeeze enough to get 500 modern tanks or so (to bring it up to 16,500 tanks for the US, many of existing ones are low or no nickel content inferior tanks)

http://www.nationmaster.com/graph/mil_t ... tary-tanks

Its surprisingly a lot rarer, and a lot more important to the military than people realize. Luckily, the US appears to be ready to melt down or scuttle the Enterprise which will free up some nickel for new piece of equipment.

The French and Russians have quite a bit of nickel stored up in pure nickel money form, and could probably build 5,000 tanks apiece fairly quickly, or ten equivalent carriers to the US given enough time.

I have something important to admit.
The nickel spot price plummeted because I started taking interest in it.
This seems to always happen to me.

To be specific, I was considering socking away a few pounds of pure nickel coins, like Canadian nickels, French and Netherlands stuff... you know, the easy-to-find recent nickel world coins. I had it in my head it was $10-$12 per pound, so I started doing some figuring in my head about what size a coin would need to be to pass the 10c per coin threshold, for when I go digging into various junk coin boxes. Checked the price, and wham.

You all have my most sincere apologies.

uthminsta wrote:I have something important to admit.
The nickel spot price plummeted because I started taking interest in it.
This seems to always happen to me.

To be specific, I was considering socking away a few pounds of pure nickel coins, like Canadian nickels, French and Netherlands stuff... you know, the easy-to-find recent nickel world coins. I had it in my head it was $10-$12 per pound, so I started doing some figuring in my head about what size a coin would need to be to pass the 10c per coin threshold, for when I go digging into various junk coin boxes. Checked the price, and wham.

You all have my most sincere apologies.

i am glad you are taking responsibility for it....whew! load off my mind......I thought it was my fault when I was scrapping several tons of Canadian nickels in 2007.

When taking the pre 1982 Canadian nickels out of rolls, as a newbie, what are my options for getting rid of the rest? -1982 and newer? I live in the U.S.

Thanks ahead of time.

How are you planning to get unsorted Canadian nickel rolls? The percentage of Ni makes no sense to ship unsorted rolls South.
If you like you can save the 1982-1999 Canadian NiCu coins as well. They are a little lighter then the US Nickel but the same composition.