Gold investing.

[33 IMP]

I have a couple (almost) one ounce coins. I see the exact coin for sale anywhere from mid $1800s, to over $1900 dollars. Yet, trying to sell one, I'm offered pennies over $1700 (from three vendors in two states). MELT value is $1775!
So basically, if I buy a coin for the BEST price I can find, and turn around to sell it, I either lose about 10%, or wait for gold price to go UP 10%. I can understand a gold dealer making a profit.... but this makes sticking your money in a bank and getting nothing point zilch interest look like a good strategy. At least if I deposit $1000, I can take out $1000 tomorrow. It almost makes investing in car parts look smart.
What say you?

 

[dadsbee]

All I can say is I wish I'd listened to a customer of mine a dozen years or so ago when gold was $300 an ounce and he told me to buy a 100 grand worth.

 

[snakeyes]

do not no about investing in gold but ammo yes

 

[YY1]

It's the same deal with car parts-

if you're looking to sell it, it's worth $20, if you're looking to buy it, it's worth $200.

 

[68BabyBlue]

I have a couple (almost) one ounce coins. I see the exact coin for sale anywhere from mid $1800s, to over $1900 dollars. Yet, trying to sell one, I'm offered pennies over $1700 (from three vendors in two states). MELT value is $1775!
So basically, if I buy a coin for the BEST price I can find, and turn around to sell it, I either lose about 10%, or wait for gold price to go UP 10%. I can understand a gold dealer making a profit.... but this makes sticking your money in a bank and getting nothing point zilch interest look like a good strategy. At least if I deposit $1000, I can take out $1000 tomorrow. It almost makes investing in car parts look smart.
What say you?

The problem is the intermediary has too much control of the market. Kind of like the spread in collector car prices at auction. The house gets a healthy cut by controlling the forum for exchange. Try to sell privately, you'll find your smaller market drops the strike price considerably. A bit of a sore point now, watching my former GTX get bid to 81K at auction. I sure didn't get that when I sold it.

 

[YY1]

It looks like you are trying to sell to retailers who need a profit margin.

...after you bought from retailers...who need a profit margin.

 

[33 IMP]

All I can say is I wish I'd listened to a customer of mine a dozen years or so ago when gold was $300 an ounce and he told me to buy a 100 grand worth.

Many (many!) years ago I bought a few gold coins, at somewhere between $150-200. I sold out when gold got to $450. Score! (Not!)


A couple months later gold peaked at $850. (NOT sure, wanna say Carter inflation years....)

 

[68BabyBlue]

Many (many!) years ago I bought a few gold coins, at somewhere between $150-200. I sold out when gold got to $450. Score! (Not!)


A couple months later gold peaked at $850. (NOT sure, wanna say Carter inflation years....)

Did the same back then.

 

[33 IMP]

It looks like you are trying to sell to retailers who need a profit margin.

...after you bought from retailers...who need a profit margin.

Oh, I've made a profit on them. It just amazes me that the sell price is so much less than the buy price. How does anyone besides the gold dealer make a profit, other than holding it for a decade?

 

[Fran Blacker]

Bank CD rates are 3.8% . Still losing money but less.

 

[patrick66]

My dad made a killing in Silver back in the '70s when the Hunt Brothers tried to corner the market. He bought cheap before they started their attempt, and sold three days before the bottom dropped hard.

 

[Hey-O]

There are a lot of things that were cheap once and are not now. If I only bought 10 homes in 1960 and sold them now I'd be pretty happy. Walmart stocks an example and the list goes on. What if I'd bought 20 winged cars in the early 80's, I really would have made money now. What if, what if my uncle had tits, would he be my aunt. There was a lot of money to be made when the market went down to 18,000. That was just a few years ago and an easy bet. To many people with a weak stomach thinking the world was going to end to jump out there and try it. I did and sold my soul, now my day is coming, today, tomorrow or next year, I don't care, the day will come. If you believe, jump!! What if is not your friend, It's a constant reminder of the fear most of us can't over come. It's like driving your car from the back seat, no fun......

 

[68BabyBlue]

There are a lot of things that were cheap once and are not now. If I only bought 10 homes in 1960 and sold them now I'd be pretty happy. Walmart stocks an example and the list goes on. What if I'd bought 20 winged cars in the early 80's, I really would have made money now. What if, what if my uncle had tits, would he be my aunt. There was a lot of money to be made when the market went down to 18,000. That was just a few years ago and an easy bet. To many people with a weak stomach thinking the world was going to end to jump out there and try it. I did and sold my soul, now my day is coming, today, tomorrow or next year, I don't care, the day will come. If you believe, jump!! What if is not your friend, It's a constant reminder of the fear most of us can't over come. It's like driving your car from the back seat, no fun......

I went for it in 2009, after the 2008 mortgage meltdown also cratered the stock market. I was still all in when it hit the fan in 2020. Paper losses were more than most folks have in their home, but it came back up, and then some. We think alike. Same thing when I quit the law office for that small trucking company in 1984, after driving for four years to pay for school. Many people have considered me crazy over the years. It served me well.

 

[Sam69sat]

These guys might buy it depending on what kind of coin it is. Very reputable too.

Sell Gold Silver Bullion | Highest Payout Online | SD Bullion

Sell Gold, Silver, Platinum, and Palladium Bullion products here to SD Bullion. Get the best payout on your bullion investments with live dynamic sell gold, platinum, palladium, and silver bid prices. See how much your bullion investments are worth and lock in your bullion product sale prices...

sdbullion.com

 

[33 IMP]

These guys might buy it depending on what kind of coin it is. Very reputable too.

Sell Gold Silver Bullion | Highest Payout Online | SD Bullion

Sell Gold, Silver, Platinum, and Palladium Bullion products here to SD Bullion. Get the best payout on your bullion investments with live dynamic sell gold, platinum, palladium, and silver bid prices. See how much your bullion investments are worth and lock in your bullion product sale prices...

sdbullion.com

Thanks, I'll give em a call, nothing to lose. (The coin is a Hungarian 100 Kroner 1908 restrike)

 

[YY1]

I'm pretty happy with my 8.5% average dividend income return that I've been enjoying for the last 15 years on my stock portfolio.
(as it's basically doubled in size/value during that time frame)

...and the income from our rental properties, which was close to 25% the last time I calculated it all out.
(as those actual investments have tripped in value using today's valuations)

 

[hemi71x]

Todays price for an ounce of gold is $1,815.00.
I bought 1oz. American Eagle gold coins when it was in the $400.00 an ounce range.
So when it comes time for me to cash in, I'll be doing very well, but yes, i will be wondering how much i can get for each coin, when it comes time for me to sell.

 

[MarPar]

Thanks, I'll give em a call, nothing to lose. (The coin is a Hungarian 100 Kroner 1908 restrike)

 

[GetX'd]

I‘ve had a half oz of pure platinum for a very long time. Never tried to sell and never paid much attention to the prices. But I generally knew. My lot was small so it just wasn’t a big deal. I got a flyer in the mail from one of these outfits that was going to be in my area and wanted to buy precious metals, stones, watches on and on.They had couple of the guys from the show - I don’t remember - Roadshow Auctions (??) where they will give you a value on your item - whatever it may be. People always seem to find that grandpas watch was so rare it was worth $200k on their commercials. 3 day deal and very close. So I called first and told them what I had and the guy told me X if it was really pure. So time to off this piece of treasure - I went there on the 3rd day. All these old timers with bags of tea service stuff etc. Showed them my little treasure and testing proved what I had said - 99.9% pure.

Then the guy started giving me some song and dance about how very expensive it was to process this into a larger bar etc. He got about Half way thru his spiel and I said that sounds like a “you problem” not a “me problem”. If you want it I want 90% of todays market price. If not, it’s been a pleasure. He fumbled around a little as I had clearly cut thru the bs and then said he’d take it, cut me a check and off I went. We’re not talking about a lot of money here but he wanted it on the cheap and didn’t think I knew how to deal it. Obviously being pure is quite different than a coin or something other than pure. Even then they’re going to baffle you with bullshit and try to lower the value so they make more. I wasn’t going for it and gave him a “take it or leave it price“ - so he made 10% and whatever the market does. And I unloaded something of value that I’d had for decades but other than doing what I did - was useless to me. I think we’re both ok. This guy was evidently a platinum hoarder and he probably doesn’t often get the pure stuff.

 

[wahya]

Interesting on the timing of this thread. I just came from my financial advisor, probably there at the same time this was started. Advisor brought gold up in the conversation and was telling me that if I were to buy gold right now, it would be a very long time before I could make any money on the decision. Sounds to me like he was indirectly telling me that it is a time to sell.