Nickel...?

Heck Chris, I'd put my money more on copper cents. Have you been to the Home Depot plumbing section lately? Dang........I'm smartin'.

 

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Yeah, I know. I was lucky las week and got 24 rolls of wire at an auction. Wire is even worst. I still like copper pipes better than that plastic garbage though.

 

Another big gain today.

 

I'm trying to understand this. The actual nickel content in a nickel is about 5 cents worth at the spike in the market. When things adjust it will be back to 3 cents worth. To a refiner that's worth 2 cents. Most refiners have contracts with miners so have no interest in smelting nickle currency, even if they could.

For copper pennies it is better percentage wise but the cost to smelt and recast is prohibitive. Current 1oz rounds come to $12 per pound versus the $3 per pound actual value. I'll stick with 5% to 8% premiums on silver and gold than 400% on base metal.

 

A nickel not very long ago was 8 cents melt value. I believe we will see this figure again fairly soon. So, $500 in nickels will be worth $800 melt. To my simple mind that is 37% discount to melt. So you are right that today its simply even dollars, (a bad thing for a non-dividend producing asset). But, if you believe copper and nickel are going to go up, its probably the single cheapest way to play those markets. How would you like to be able to buy easily recognized, government issued silver at spot? That is what a nickel is today, effectively 0% premium copper and nickel purchase.

 

Alternatively, I hoard all per-1982 Canadian nickels and 1969-2000 Canadian dimes and quarters I come across here in the US. They are made of 99% nickel, so much easier at "melting" time since they are practically pure nickel rounds.

 

Heck yeah. Those are like war nickels, already worth much more than face value. Those are like free money if found at face.

 

99% Nickel...

 

Yep...look into it. You might like what you learn.