Nickel Close to a 5-Year High

[Recyclersteve]

I’m seeing today (Tuesday Dec. 15th) that nickel has hit the $8 mark. This is close to a 5-year high. It might even be better than that as the charts for nickel on Kitcometals.com only appear to go back 5 years.

Does anyone have a 10 or 20-year chart?

P.S. I still love those Canadian .999 nickels. To any potential sellers, I have several good local sources at prices most people couldn’t touch. By the time you added freight, you wouldn’t likely be competitive.

[Mercuryman]

Found this 10 year from 2000-2010

[Recyclersteve]

Thanks for that nice long-term chart. It is always nice to know that nickel, like silver, is not anywhere close to all-time highs.

[TXSTARFIRE]

Does anyone know why nickel was so hight at the end of 2006?

[fasteddy]

IIRC...labor strikes and stainless steel demand was up...boy wouldn't be nice if the price was way the heck up there again....maybe soon.

[TXSTARFIRE]

Thanks!

[Recyclersteve]

Does anyone know why nickel was so hight at the end of 2006?

I believe that was when construction was really booming in China and nickel is used heavily with steel. China was building a lot of ghost cities. These were places that could accommodate a million or more residents where almost nobody lives.

[Cu Penny Hoarder]

Does anyone know why nickel was so hight at the end of 2006?

I believe that was when construction was really booming in China and nickel is used heavily with steel. China was building a lot of ghost cities. These were places that could accommodate a million or more residents where almost nobody lives.

^^^ This

[Cu Penny Hoarder]

$0.0541606 is the melt value for the US nickel on February 10, 2021.

[Changechecker]

Couldn't hurt to have a few rolls tucked away for day to day transactions

[cwgii]

Too many rolls of pre 63.

[Changechecker]

Too many rolls of pre 63.

Thought we were talking about nickels not silver.

[hobo finds]

So then scrap stainless steel prices should be going up?

[Corsair]

Too many rolls of pre 63.

Thought we were talking about nickels not silver.

Okay, I'll bite. Hoping this isn't sarcasm.

Nickels pre-63 are considered to have some numismatic value over their intrinsic value. In 1962, about 400,000,000 nickels were minted. By 1964, that number grew to nearly three billion. The last year for silver coins, generally, was 1964. I suspect cwgii is saying he's stacked pre-63 nickels for potential numismatic value in addition to any intrinsic value they may also have.

Either way, nickel brushing against $8.50/lb is a beautiful sight to see.

[Changechecker]

No sarcasm. I used to save all the pre 64's and kept them as my emergency fund in lieu of paper. I was making light that he might have to many rolls of pre 1963 silver which IMO one can never have to much of that.
I'm glad nickel is rising. I have almost $100. of pure AU/BU Canadian nickels I would like to unload soon.

[Silver4face]

I check metal prices almost everyday and nickel is currently 8.39 lb and has good potential moving forward as demand will probably go up.

[Silver4face]

Last Friday, Nickel checked in at 9.59 per pound. Highest we've seen since 2012, maybe even 2011. Took a big step down today (9.24), but still over 9

[AGgressive Metal]

I would have thought metals prices would have people on here more excited, but its been a long wait

[68Camaro]

Happy to see the price adjustments but it's hard to get excited when inflation is approaching near record levels. If the inflation continues (or accelerates) for a significant amount of time, few here will be getting rich off metals. Generally the metals will be doing what they are supposed to do - keep up with inflation (more or less) and protect wealth.

Some will figure out how to time markets and may "make" some money, but those will be the exception not the rule.

That's not to dissuade anyone from acquiring metals. Instead the above is the very reason to acquire them. Just hard to get excited about seeing dire predictions coming true. Being found on the right side of an issue isn't the same thing as being happy about it.

[Cu Penny Hoarder]

$10.89 as I type this.

Get them now before TPTB remove them from circulation.

[Recyclersteve]

I believe that is now a 10-year high. Can someone confirm?

[Silver4face]

I believe that is now a 10-year high. Can someone confirm?

You are correct, actually ten years and change (no pun intended). In the Summer of 2011, it got up to $11.22 a pound, but was down to approximately 9 by the end of the year. 2011 was my first year of pulling them. Wish I had started sooner.

[Recyclersteve]

Just curious what anyone would pay now for 100# or more of .999 Canadians...

[thecrazyone]

$10.89 as I type this.

Get them now before TPTB remove them from circulation.

Are you saying that the US Government would simply stop minting them? I'm not trying to sound smart in any way, just curious as to what could/might happen.

[TXSTARFIRE]

Usually the government tries to come up with a cheaper base metal. So the nickel would be made out of zinc or steel. Some would argue for the elimination of the denomination.