A Fun Investment: My Newfound Interest in Nickel
The Undetermined Value of Nickel
Yes folks, we do not know the tradable value of nickel. The markets opened and nothing shocking happened, it continued trading at the "paused" price. This is because of all sorts of RULES uniquely applied to the nickel market. Restrictions on buy/sell orders, pre-determined daily gains - the nickel market has been LOCKED DOWN.
Whatever lockdowns there are in nickel trading, it doesn't change supply and demand. No matter what the official 'price' is, demand is demand is demand.
If there is demand, there is an aftermarket. We will begin to see nickel scarcity. How? Nickel is not a rare element! It's abundant!
Cheap/Expensive
There are two main exchanges trading nickel by the ton. The Shanghai and London Metal exchanges. We are supposed to believe everything is back to normal. Trading has resumed and the huge price increase is over.
Except now we have two prices: Shanghai and London. The price on the Shaghai exchange dropped to around 30K/metric ton while london is still around 42K/metric ton. Which is it?
Even this chart is inaccurate, as the nickel price rose up OVER 100K / metric ton, while this chart pretends it never got over 40ish.
The chart should look more like this. If trading wasn't stopped, it would have gone much higher than this!
Somebody PUSHED the BUTTON
Every market has hidden switches and levers just in case something weird happens. An honest exchange wouldn't have this, but in the name of "stability" we now know that exchanges will gladly shut down before reflecting true pricing.
A Hint of What's to Come?
No matter the pricetag, nickel is still abundant, especially in Canada, where many of their "Nickels" are 99.9% pure nickel.
Even at "official" nickel prices, they are worth 4.2X face value in CAD doolars.
Never though I Would Be Stacking Canadian Nickels!
Our family loves our neighbor to the north, we find their coins in our change many times. But finding Canadian nickels between 1965 and 1981 (99.9% pure nickel) is rare... unless you purchase them on ebay.
So that's what I did.
40 uncirculated Canadian Nickels from 1965 shiny and new. Some "bag wear" and scuffs, but certainly uncirculated!
I paid about 0.40 USD each for these uncirculated 1965 nickels. What are they really worth? Time will tell.
Bless the Most High!
Every dollar of coins in your pocket is a dollar out of the fed's pocket because they buy them at full face value from the mint.
The mint has to eat the difference between the metal price and the face value, but they can't dilute the metal after they have been struck.
Expect the debasement of the nickel at some point.
1982 and older pennies are worth .03usd.
If 'murican nickels weren't already only 25% nickel, they would be worth about 32cents instead of .08usd.
You can compare the weight of your canadian nickels to the 5 grams that the 'murican nickels weigh to get a value point comparison.
Many people don't realize that US nickels are not 100% nickel at all, the US never made a pure nickel coin. But Canada did! There is are two sweet spots with the dates: 1922-1948 and 1965-1981. 4.5 grams of 99.9% pure nickel.
I didn't know until just a short time ago, I thought they were pure nickel, but nope.
Even the new pennies are almost a penny now.
Very cool. I have the Canadian silver maple leafs. Something feels good and reassuring to have a full weighted coin in your hand instead of these debased coins we now have. 1love
I agree, funny how real money is a "collectors item", but fake money is used for commerce!
Es buena inversión, y al mismo tiempo una divertida forma de obtener Niquel. buna jugada
PD. Leido desde Listnerd.
Thank you!
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I will focus on the next big thing: Cents!
Copper Cents...
I see, copper is logical as it makes a lot of cents
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Congrats on your purchase. Let time tell their true value!
Yes, time will tell us. Maybe time will be screaming in our ear "why didn't you purchase more?" or time will tell us "dummy, you paid 40 cents each for nickels!"
Sounds like a solid investment Benjamin.
I think so.
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Nice purchase with the price of nickel on the rise. that has to be a good investment.
I guess we'll see!
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Just wondering, why did you choose 1965 nickel? Did the metal content of a nickel change after that period?
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No particular reason, except that it's nickel and that's what was available. The last nickel Canadian nickel was in 1981, they switched to 75% copper in 1982. Then in 1999 they switched to stainless steel (nickel plated) and that's what modern Canadian nickels are made of today.
I think I will head down to the bank and get a few rolls and do some old nickel hunting.
Darn, I wish I keep my Canadian nickels.