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insurrection1517
Penny Collector Member
USA
262 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/24/2008 : 19:07:11
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NICKEL BOTTOMING
Nickel fell more than 8 percent on Thursday and another 5 percent early on Friday before rebounding on a firm fundamental outlook for the metal used to make stainless steel.
Nickel closed at $24,100 a tonne, up from an earlier session low of $22,350 and $23,500 on Thursday.
The metal has come under pressure in recent months on depressed stainless steel demand and expectations of growing supplies.
BHP Billiton Ltd (BLT.L: Quote, Profile, Research) said its Ravensthorpe nickel mine in western Australia, one of the largest nickel making facilities in the world, will reach its full capacity of 50,000 tonnes a year by 2010.
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Think positive. |
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insurrection1517
Penny Collector Member
USA
262 Posts |
Posted - 05/30/2008 : 14:23:42
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| Nickel down to $9.84 per pound today. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 05/30/2008 : 20:46:56
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| I'm thinking of dumping my small Canadian Nickel CuNi hoard. With all US Nicks also made of CuNi to date, there will never be a real market for Canadian CuNi coins. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 05/30/2008 : 20:53:28
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quote:
Originally posted by legacypac
I'm thinking of dumping my small Canadian Nickel CuNi hoard. With all US Nicks also made of CuNi to date, there will never be a real market for Canadian CuNi coins.
I would never say never. From what I hear, someone(s) up in Canada seem to be very interested in them and pulling them out of circulation. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/01/2008 : 13:40:32
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| There is a huge amount of CuNi Nickels out there. I agree they are being pulled out by those contracted by the Mint. It makes sense for the mint to reprocess nickle coins into say dimes. The composition is right for thier use, and they get to sell the new coins for more. But what am I going to do with CuNi? I continue to save the CuNi I hand sorted out, and am continuing to save all the US CuNi I find, but am going to turn back all future Canadian CuNi for more pennies and nickels to sort. I can see a real market for the pennies and pure nickels and they are well over face value now. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 06/03/2008 : 15:12:23
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For now I am saving CuNi as well as pure Ni coins. My thinking is that it is unpredictable how easily they will be replaced.
The Canadian Mint will not retreat to making dimes from CuNi as they are making them from steel, which is a cheaper material, albeit more technically demanding. But since the technical issues are now worked out for all the stell Canadian coins, why switch to a more expensive metal? They do appear to be removing CuNi from circulation at about the same rate as the Ni.
I have to admit, I'm not sure what the future market for CuNi would be. |
Not all who wander are lost. |
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n/a
deleted
17 Posts |
Posted - 06/03/2008 : 20:03:27
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quote:
[i]
I have to admit, I'm not sure what the future market for CuNi would be.
The way I see it is that CuNi is basically a risk free call option on the price of copper. There is unlimited upside potential for when base metals rise in the years ahead, but limited downside risk in the unlikely event that metals do not rise, as a nickel will always be worth its face value.
You need a longer term perspective if you are hoarding these coins, but I am sure that in ten years from now they will pay off. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 06/04/2008 : 12:01:31
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IMO world events are currently the underlying reason for the drop in nickel now. Not only are the Olympics coming to China, (They are cleaning up their pollution prior to the visitors and most pre-olympic construction is done). China also just suffered the earthquake which may depress the demand even longer.
Think long term. When your nickels are in the form of currency they will always be worth that at minimum. As time passes the price of nickel should recover (it isn't a naturally renewable resource). If the Canadians are pulling nickels they must have a reason, patience should be exercised. If you must bail on them I'm sure you will have no problem finding a buyer. |
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Nickel close to $10.00 the other night.
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