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hector6man
Penny Pincher Member
USA
129 Posts |
 Posted - 04/16/2008 : 08:25:53
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Hey guys I have a question? Can and will nickel convert from pounds to ounces in the future? If so why or why not? Has any metal in the past change from pounds to ounces? Thanks!
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"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 04/16/2008 : 09:42:35
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| I would say no. It is an industrial metal not a monetary one and I think that it will most likely stay that way. Industries are not interested in buying/selling nickel in small amounts. Most of them are buying it by the ton...same with copper. In general, I think it is the use of the metal as much as or more so than the price that drives how it is quoted. |
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fiatboy
Administrator
912 Posts |
Posted - 04/16/2008 : 22:32:35
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one ounce = 0.911458333 troy ounce
one troy ounce = 1.09714286 ounces
1 pound = 14.58333 troy ounces
1 troy pound = 12 troy ounces
Precious metals are measured in troy units. Copper, Nickel, and other non-precious metals are measured in avoirdupois units (like chicken and bananas). |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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fiatboy
Administrator
912 Posts |
Posted - 04/16/2008 : 22:35:03
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| Now to answer your question, I doubt it. The only metal that might change would be copper from avoirdupois pounds to troy ounces, but I doubt it. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/17/2008 : 06:31:20
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| Metals such as Cobalt are already over dollars per troy ounce yet they haven't been prices as such. If and when demand for such metals starts to come in the form of ounces then perhaps a dual pricing system will develop. |
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Think positive. |
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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
Posted - 05/02/2008 : 22:57:38
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| That would be a dream if that conversion were to happen! |
I enjoy taking long walks off short piers. |
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Pounds to Ounces?
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