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Question about nickle ingot



 
 
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  #1  
Old May 30th 08, 10:04 PM posted to rec.collecting.coins
John Ahnen
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Posts: 69
Default Question about nickle ingot

Today while at the local convenience store, the clerk was talking with a
customer and showing him a metal bar.

When my turn came I asked him about the bar and he said that a man had found
five of them in an old barn and sold him one of the bars for $20.

He said it weighed 3#, and when I felt it, that felt about right. I don't
remember the name that was on it, but it did say Nickle with some XXXs on
it. Anyone care to hazard a guess as to the value?

Dave Hinz - What say you?

John


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  #2  
Old May 30th 08, 10:21 PM posted to rec.collecting.coins
[email protected]
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Posts: 21
Default Question about nickle ingot

On May 30, 4:04 pm, "John Ahnen" wrote:
Today while at the local convenience store, the clerk was talking with a
customer and showing him a metal bar.

When my turn came I asked him about the bar and he said that a man had found
five of them in an old barn and sold him one of the bars for $20.

He said it weighed 3#, and when I felt it, that felt about right. I don't
remember the name that was on it, but it did say Nickle with some XXXs on
it. Anyone care to hazard a guess as to the value?


Well, the spot price of nickel has dropped to now around US$10 per
pound, so assuming '3#' means 3 pounds, that makes c. $30 of nickel,
if pure.

That said, I don't think there are many (if any) places where you can
sell small amount of nickel as a commodity.
  #5  
Old May 31st 08, 03:20 AM posted to rec.collecting.coins
Dave Hinz
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Posts: 1,538
Default Question about nickle ingot

On Fri, 30 May 2008 17:04:27 -0400, John Ahnen wrote:
Today while at the local convenience store, the clerk was talking with a
customer and showing him a metal bar.

When my turn came I asked him about the bar and he said that a man had found
five of them in an old barn and sold him one of the bars for $20.

He said it weighed 3#, and when I felt it, that felt about right. I don't
remember the name that was on it, but it did say Nickle with some XXXs on
it. Anyone care to hazard a guess as to the value?

Dave Hinz - What say you?


Sorry, been away, busy with life and all that. I'd say, check out
kitco.com's base metals site and see what 3 pounds of nickel is worth
today. Or, coinflation.com to see what, say, 100 bux of nickels are
worth. Illegal to melt of course, today. I'm told but haven't
verified, same was true for silver coins around 1964.

That said, I'd rather buy a brick of nickels at a known alloy, than a
lump of "mystery metal" claiming to be nickel. Assaying fees could eat
into most or all of the profit for same. Coins, we know what they're
made of, and not likely anyone is gonna counterfiet pre-1982 cents, or
current kickels.


 




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