I thought maybe that was what the poster was driving at but I guess what confused me was the implication that this might be a bad thing?
I thought maybe that was what the poster was driving at but I guess what confused me was the implication that this might be a bad thing?
Certainly if I was investing in Gold from a long-term safety perspective, I'd be concerned if a significant element of the current price could be apportioned to speculation..... because we all know how speculation can drive a market a little bit loco....
On the other hand, if I were a gold speculator, I'd welcome all the other spec's with open arms..... as long as none of them sell up until after I do!
I generally view gold as catastrophe insurance but the involvement of a speculative element and easy access to the gold market through ETFs ensures the market is liquid. They might drive the market ahead of itself at times but it also works in the reverse if there is a stampede to the exit for some reason. This then creates opportunities for those who wish to buy and hold.
Yes, I meant that the arrival of Gold ETF's has lowered the barrier for speculators and thus probably made the market more volatile and driven by opinions - although it has probably also increased the liquidity.
Aahh! if only we could know exactly where we are now !
Aahh! if only we could know exactly where we are now !
Hello goldbugs!
I actually bought some krugerrands from Gold.ie, and very nice they are too.
If I wanted to sell one of them without faffing about on ebay, what would I be best off doing? I'm not trolling for sales here, just looking to see if there's any better advice than "stick it on buy & sell"
Also, is anyone interested in the notion of buying in non-krugerrand form?
As far as I can tell, the smallest way to do that is to buy a CBOT mini-sized gold contract, which specifies delivery of about 1 kilo of .995 pure gold in one bar.
Oh, and the dollar price is doing rather nicely now, though the Euro price is still sluggish.
I actually bought some krugerrands from Gold.ie, and very nice they are too.
If I wanted to sell one of them without faffing about on ebay, what would I be best off doing? I'm not trolling for sales here, just looking to see if there's any better advice than "stick it on buy & sell"
Also, is anyone interested in the notion of buying in non-krugerrand form?
As far as I can tell, the smallest way to do that is to buy a CBOT mini-sized gold contract, which specifies delivery of about 1 kilo of .995 pure gold in one bar.
Oh, and the dollar price is doing rather nicely now, though the Euro price is still sluggish.
G
gonk
Guest
Why not sell back to Gold Investments? (Although they do have a minimum purchase amount of €3,500, so they wouldn't buy just one from you.)
I think you just answered your own question!
G
gonk
Guest
OK, well if you really wanted to sell just one, some jewellers will buy gold, don't know what discount off the spot price you might have to take though. I vaguely remember selling a gold ring for scrap to a jewellers in Thomas St years ago. No idea what their name was.
G
gonk
Guest
Think you'll have to anyway. Nobody (including Gold Investments) will pay a retail investor the spot price, especially not for a single ounce.
Actually ebay punters do pay above spot for krugerrands quite a lot. Check it out every once in a while. I've noticed that they do tend to pay even higher on weekends.
If gold continues its bull run a lot longer, I predict you'll get businesses offering over spot for kroodges.
They'll offer 2% over spot, and sell it on for 6.5%. They'll probably ask for a EUR50 deposit to cover appraisal.
Re: So who owns krugerrands?
rock, are you asking if any other AAM members hold speculative investments/hedges like this? Are you just curious, or do you think this information will be useful somehow?
You are a fairly new poster, and if I was a cynic I might think you were a dealer trying to raise the profile of a certain Irish website.
rock, are you asking if any other AAM members hold speculative investments/hedges like this? Are you just curious, or do you think this information will be useful somehow?
You are a fairly new poster, and if I was a cynic I might think you were a dealer trying to raise the profile of a certain Irish website.
G
gonk
Guest
But you already said you don't want the hassle (not to mention the risk) of dealing via ebay.
You asked for advice - you got it for what it's worth. The best advice I could have given you, but it's too late now, would have been to figure out for yourself your options for exiting your investment before you actually entered it, instead of coming here and knocking every answer you're given.
Re: So who owns krugerrands?
definitely not selling on here.
Also, don't have a website & I'm not promoting anyone else's.
Though if anyone has any thoughts on the whole gold investment thing, especially with krugs, I certainly would read with interest. I think that's reasonably on-topic, though.
definitely not selling on here.
Also, don't have a website & I'm not promoting anyone else's.
Though if anyone has any thoughts on the whole gold investment thing, especially with krugs, I certainly would read with interest. I think that's reasonably on-topic, though.
S
sunrock
Guest
I had a gold panda coin once...nice panda pic....from china.
What has krugs got a pic of ..springbox?
The thing about gold is it has very little intrinsic value.If there is a big slowdown with deflation and high unemployment the price of all items gets cheaper...that includes gold.If there is high inflation ,no doubt gold will increase in price but as there is no interest/rent/dividend it`s unlikely to increase as much as other asset classes. Its main appeal is to hoarders and as transportable wealth in a dangrerous area as well as jewelery.
The idea that gold is a good investment...well one would have to be living in a gold`s "fool`s paradise".I await some contrary responses where i expect to be showered with something less expensive than golddust.
What has krugs got a pic of ..springbox?
The thing about gold is it has very little intrinsic value.If there is a big slowdown with deflation and high unemployment the price of all items gets cheaper...that includes gold.If there is high inflation ,no doubt gold will increase in price but as there is no interest/rent/dividend it`s unlikely to increase as much as other asset classes. Its main appeal is to hoarders and as transportable wealth in a dangrerous area as well as jewelery.
The idea that gold is a good investment...well one would have to be living in a gold`s "fool`s paradise".I await some contrary responses where i expect to be showered with something less expensive than golddust.
Gold is insurance against systemic collapse. People buy insurance for lots of other things, I'm surprised so few buy insurance for this. Every single fiat currency in the history of mankind has over a period of time been reduced to zero. The value of gold may fluctuate against other currencies but it is the only currency that is always and everywhere acceptable when the chips are down.
When a few years ago treasure hunters found some old Nazi Reichsbank loot hidden in the woods in Bavaria, the old paper currencies were worthless but the gold was still valuable. What does that tell you?
Even Alan Greenspan himself admits to the value of gold:
That's the key point - during economic extremes (be it inflation or deflation) - gold becomes invaluable as a store of wealth and a form of acceptable payment. I'd prefer to buy it when I can rather than when I have to.
It is perhaps irrational but I sleep easier knowing I have some.
When a few years ago treasure hunters found some old Nazi Reichsbank loot hidden in the woods in Bavaria, the old paper currencies were worthless but the gold was still valuable. What does that tell you?
Even Alan Greenspan himself admits to the value of gold:
That's the key point - during economic extremes (be it inflation or deflation) - gold becomes invaluable as a store of wealth and a form of acceptable payment. I'd prefer to buy it when I can rather than when I have to.
It is perhaps irrational but I sleep easier knowing I have some.
I think its status as a good investment comes from our old friend supply & demand.
4000 tons of the stuff is used annually for making jewellery, fillings and electronics.
But only 2500 tons are mined every year. Bill Gates could personally buy up a full year's production from his petty cash.
The shortfall seems to mainly come from Central banks dumping gold at below market value, and miners who sold forward during the great gold slump of 1995-2000. Those are both very finite sources, and eventually will be tapped out.
Eventually a consortium will be formed, which will simply buy up the 2500 tons of global production, and then simply sit back and watch prices hit the moon.
They'll start the week as comfortably-off investors, and finish it as magnates.
My prediction. I can't say when it'll happen but I assume it'll be in the next 3-10 years.
By the way, did you know that gold is now at an all-time high, when measured by the 52-week average? You may know that there was a peak of over 800 in 1980 for a few brief moments, but this is gold's biggest sustained rise.
4000 tons of the stuff is used annually for making jewellery, fillings and electronics.
But only 2500 tons are mined every year. Bill Gates could personally buy up a full year's production from his petty cash.
The shortfall seems to mainly come from Central banks dumping gold at below market value, and miners who sold forward during the great gold slump of 1995-2000. Those are both very finite sources, and eventually will be tapped out.
Eventually a consortium will be formed, which will simply buy up the 2500 tons of global production, and then simply sit back and watch prices hit the moon.
They'll start the week as comfortably-off investors, and finish it as magnates.
My prediction. I can't say when it'll happen but I assume it'll be in the next 3-10 years.
By the way, did you know that gold is now at an all-time high, when measured by the 52-week average? You may know that there was a peak of over 800 in 1980 for a few brief moments, but this is gold's biggest sustained rise.