i have a chance to pick up 50 pounds of nickel bullion for $550, just looking for opinions on holding some nickel at this price.
No! nickel is around $8.57 per lbs today... and When you buy it in quantities like 50 lbs of it the price should go down... not up http://www.metalprices.com/FreeSite/metals/nickelalloy/nickelalloy.asp
yes ive checked the spot price on the stuff but cant seem to find it ANYWHERE for near spot pricing. i see nickel bullion bars on ebay for $10 an ounce.
NO. DON'T buy.. you are loosing money. CLICK HERE TO SEE PRICES LOOK AT THE 30 DAY CHART. its $/lbs you can see that today it is around $8.57 nickel has been all over the place this year.. the guy is trying to get it off his hands so he doesn't have to worry about it anymore. $11/lbs is too much.
but nickels are only 25% nickel, so you'd have to take into account that 75% of what you are buying is copper.
Why in the world do you want nickel bullion? Do you realize how difficult that is going to be to resell without taking a haircut?
