Nickel at $7.74

[My2Cents]

I'm curious what Canadian nickels sell for these days by most folks. When nickel was hovering at $10-ish, I was buying them for about $14-$15 per pound. Considering that the market is kicking the price down a couple of bucks, surely that has to reflect on the buying price.

[Engineer]

I'm curious what Canadian nickels sell for these days by most folks. When nickel was hovering at $10-ish, I was buying them for about $14-$15 per pound. Considering that the market is kicking the price down a couple of bucks, surely that has to reflect on the buying price.

I looked around a bit the other day, and most people were still wanting $15+/lb...and its best if I don't tell you the per pound price I paid for a sack of George V nickels last week.

[My2Cents]

$15/lb is wayyyy too high when the spot price is about half that. If I could buy some poundage at a fair premium, I would. After all, it's still better than FV by a bunch

[Cu Lung]

Most sellers are choosing to hoard for now, buyers want lower prices. I have lots for sale on feebay ranging from 1oz, 4oz and 8oz and they average 22.00/lb. after fees so ppl are still paying way over metal value.

[mflugher]

just seems to me Nickel shot would be the way to go for a .999 investment at this time. for those of us who can't pick them out of change.

[My2Cents]

Where can you get nickel shot for a fair price? I'm just not paying 2x spot price (or more) for nickel bullion... I can't even rationalize 2x spot for a minted silver gov issued coin.... let alone 3x

[mtalbot_ca]

Unfortunately for the US Market, .999 nickel is only available in qty north of the border. Since banks in Canada do not deal with bags nor have a coin counter, all searched rolls have to be re-rolled to be deposited. This fact, combined with horrible shipping fees pushes the price to 12$-15$ per pound. Hope this helps.

[My2Cents]

I'd buy some Canadian nickels if the price were fair... probably 10 or 20 lbs just to add to my small hoard. But I can't rationalize it costing $15/lb regardless of the method of sorting or returning. That would mean that those people who hand sort their copper should get $200 for their CTU's (or more) because of all the time it took to do that. But it's not worth that no matter how you try to rationalize it. Maybe selling on Ebay in small lots and paying their high fees is what people need to do, but you just won't get the volume that way.

Like I said, I'd buy some at a fair price over spot, which seems to be getting lower every day.... but the way I look at it is this: for every lb you sell, it's still wayyyy over face value anyway.So the more you sell, the more you make.

[mflugher]

Nickel is currently $7.65/lb per comex, a contract is 6 tonnes

6 tonne = 13 227.735 731 pound x $7.65 = ~ $102k

Group buy anyone? I'm sure we have 50 to 100 members willing to pitch in not less than $1k

[JadeDragon]

I'd buy some Canadian nickels if the price were fair... probably 10 or 20 lbs just to add to my small hoard. But I can't rationalize it costing $15/lb regardless of the method of sorting or returning. That would mean that those people who hand sort their copper should get $200 for their CTU's (or more) because of all the time it took to do that. But it's not worth that no matter how you try to rationalize it. Maybe selling on Ebay in small lots and paying their high fees is what people need to do, but you just won't get the volume that way.

Like I said, I'd buy some at a fair price over spot, which seems to be getting lower every day.... but the way I look at it is this: for every lb you sell, it's still wayyyy over face value anyway.So the more you sell, the more you make.

No one forces anyone to handsort. If you are sorting much, get a Ryedale.
I'm not selling for less than 3x face. Too much work to get pure government issued Ni bullion.
If you want spot, you got to buy by the tonne.

[daviscfad]

The best price I could get it at would be 10 cent probably and that's buying larger amounts

[Robarons]

Yup Nickel is $7.65 a pound on the Nymex, so if you have big enough pockets grab a contract there.

But in all seriousness you would have to get a good premium from Canadian Nickels because they are the world standard on 999 Nickel, name something else! (French/Foreign nickel comes to mind as a inferior substitute)