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Bought a couple of 1oz gold bars below today’s spot, (13 ounces).

KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭
edited November 28, 2018 10:18AM in Precious Metals

Seller’s stock photos


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Comments

  • ashelandasheland Posts: 22,612 ✭✭✭✭✭
  • johnny9434johnny9434 Posts: 27,411 ✭✭✭✭✭

    nice pick up, i like

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    Nice pick-up...but I do not see any cs bars having been sold below spot of $1,224. I must have missed it.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    @OPA said:
    Nice pick-up...but I do not see any cs bars having been sold below spot of $1,224. I must have missed it.

    I bought them last week when pm was ~$1200.00.

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    Nice buy, congrats :smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Very nice, congratulations !!! :)

    Timbuk3
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭

    You bought two different gold bars with the same serial number?

    Liberty: Parent of Science & Industry

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    @Baley said:
    You bought two different gold bars with the same serial number?

    They’re seller’s stock photos.

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    Actual bars received:


  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    I bought a total of 8 one ounce gold bars & coins last week:

    2 Britannia coins &

    6 bars.

  • DrBusterDrBuster Posts: 5,301 ✭✭✭✭✭

    Pass the mustard test?

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭
    edited November 19, 2018 3:55PM

    @DrBuster said:
    Pass the mustard test?

    No worries, have Ebay guarantee.

  • AUandAGAUandAG Posts: 24,515 ✭✭✭✭✭

    cut them out and test them via XRF or specific gravity. Will not hurt the value. Gold is gold and packaging does not add to the value. Let us know how they test. Give ya odds.....

    bob :)

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭

    Good. Stack it up.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭
    edited November 27, 2018 8:34AM

    I bought below spot. Then spot dropped. And dropped.... and dropped.... and dropped.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭
    edited November 27, 2018 8:37AM

    See Spot drop. See Jack run. Who remembers that book ?

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    Bought 5 more at below today’s current spot price $1223.40 B)B)

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    Spot $1225.50. 823pm

  • coinpalicecoinpalice Posts: 2,435 ✭✭✭✭✭

    half the people on here thinks gold is going to 1,100 per ounce, I am not one of them

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    @coinpalice said:
    half the people on here thinks gold is going to 1,100 per ounce, I am not one of them

    I hope it goes to $1100 or less, then I’ll buy more to average out my cost :)

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    Spot 1226.20.

  • HemisphericalHemispherical Posts: 9,370 ✭✭✭✭✭

    @KollectorKing

    Nice avatar!

  • derrybderryb Posts: 36,110 ✭✭✭✭✭

    @KollectorKing said:

    @DrBuster said:
    Pass the mustard test?

    No worries, have Ebay guarantee.

    only for a limited time. Have them verified ASAP.

    Link to the seller/auction?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭

    Could be the camera, but the color looks a little "off?"

    image
  • rte592rte592 Posts: 1,417 ✭✭✭✭✭
    edited November 29, 2018 7:22PM

    I'd say this one is fake.
    Look at the tight radiused corners and larger serial number.
    Under spot though at $1050...if your a gambler. :D

    Same seller has these....also look like fake pan am bars.

    Both look to have sold....someone isn't doing their due diligence and will learn a hard lesson in the future.

  • VanHalenVanHalen Posts: 3,787 ✭✭✭✭✭

    A quick check of ebay completed listings shows 7 one ounce gold bars (several Pamp or Credit Suisse) have sold for under $1200 in the last week.

  • derrybderryb Posts: 36,110 ✭✭✭✭✭
    edited November 29, 2018 7:48PM

    Bars are the most counterfeited of all gold and silver products.

    Most have actual PM plating and many are in counterfeit sealed assay packaging. There are many sites that offer counterfeit detection tips for the bars. Know your bars before purchasing and always have a way of verifying them when they arrive. I like the Sigma PMV.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    Bought five of these at below spot




  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭

    Uh oh...

    image
  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭

    @VanHalen said:
    A quick check of ebay completed listings shows 7 one ounce gold bars (several Pamp or Credit Suisse) have sold for under $1200 in the last week.

    That's the warning sign right there. Under spot and eBay fees?...

    image
  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    Actually if I factor cc rebates, my cost is much more lower than current spot.

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭
    edited November 29, 2018 8:40PM

    @VanHalen said:
    A quick check of ebay completed listings shows 7 one ounce gold bars (several Pamp or Credit Suisse) have sold for under $1200 in the last week.

    I wish they were my purchases, but nope.

  • AUandAGAUandAG Posts: 24,515 ✭✭✭✭✭

    Please watch this utube video: https://www.youtube.com/watch?v=s2SJdUW-Km0&t=233s

    bob

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • ashelandasheland Posts: 22,612 ✭✭✭✭✭

    I, like the others highly urge you to get those bars checked by someone with a Sigma PMV!

  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭

    @derryb said:

    @KollectorKing said:

    @DrBuster said:
    Pass the mustard test?

    No worries, have Ebay guarantee.

    only for a limited time. Have them verified ASAP.

    Link to the seller/auction?

    Agreed. Gold under melt is automatically suspicious. Santa Claus does not come for another month.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • AUandAGAUandAG Posts: 24,515 ✭✭✭✭✭
    edited December 1, 2018 6:27PM

    @1peter1223
    I live in Vegas and remember the story from the news. I do not remember any "numbers" in the story, just that a local Restaurateur was suing a local coin company over fake gold bars.
    Now, lets just think about the price of gold during the past 40 years. If you bought more when it was $400 than when it was $1600 those numbers, millions, would not be hard to get to. $24,000 spent on per year for 40 years at an average of $400 would equal $3,000,000 at $1,250 per ounce. This "story" was not recent and it happened some 10 or more years ago. Before the huge run up as I recall.
    It's plausible
    10 years ago gold was $800, and 15 years ago it was $400 per ounce and 20 years ago (1998) it was under $300 per ounce. 40 years ago it was under $200 per ounce.

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • These are some nice pickups. How many bars do you have now? I am just getting started.

    I am considering putting the gold into a rollover for long-term storage. I'm curious if they hold bars within their vaults.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭

    @squadus said:
    These are some nice pickups. How many bars do you have now? I am just getting started.

    I am considering putting the gold into a rollover for long-term storage. I'm curious if they hold bars within their vaults.

    Have done a few rollovers for clients. As I recall, bars were excluded from IRAs.

  • derrybderryb Posts: 36,110 ✭✭✭✭✭

    I prefer a Roth conversion over a rollover. I also prefer a Roth on-line brokerage account where liquidity is quick and simple. There are many avenues to PM plays with equities, especially with ETFs. Too many limitations with a PM IRA.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭

    I agree DerryB. The storage fees, set up fees and inability to hold one's metal are a few drawbacks, but I get it. The IRS doesn't trust people with their own wealth. People could say they have it and then sell it.... money is a funny business.

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    @TwoSides2aCoin said:
    See Spot drop. See Jack run. Who remembers that book ?

    Say what....spot $1237???

  • MattTheRileyMattTheRiley Posts: 806 ✭✭✭✭

    If you are buying that much gold, why not just buy a Sigma for yourself? They are only like 600 bucks, if I recall. First fake it finds it pays for itself!

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    @MattTheRiley said:
    If you are buying that much gold, why not just buy a Sigma for yourself? They are only like 600 bucks, if I recall. First fake it finds it pays for itself!

    No need, all were sold at spot, current spot B)

  • MattTheRileyMattTheRiley Posts: 806 ✭✭✭✭

    @KollectorKing said:

    @MattTheRiley said:
    If you are buying that much gold, why not just buy a Sigma for yourself? They are only like 600 bucks, if I recall. First fake it finds it pays for itself!

    No need, all were sold at spot, current spot B)

    Are you saying there is no need to test the gold you buy, because it was purchased at spot price? I don't quite understand what you are saying.

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭
    edited December 5, 2018 4:57PM

    @MattTheRiley said:

    @KollectorKing said:

    @MattTheRiley said:
    If you are buying that much gold, why not just buy a Sigma for yourself? They are only like 600 bucks, if I recall. First fake it finds it pays for itself!

    No need, all were sold at spot, current spot B)

    Are you saying there is no need to test the gold you buy, because it was purchased at spot price? I don't quite understand what you are saying.

    It was always my intent to flip them & if they were no good, then I would have recourse via my cc if sellers refuse refunds.
    If I kept them them Sigma would work for me.

  • MattTheRileyMattTheRiley Posts: 806 ✭✭✭✭

    @KollectorKing said:

    @MattTheRiley said:

    @KollectorKing said:

    @MattTheRiley said:
    If you are buying that much gold, why not just buy a Sigma for yourself? They are only like 600 bucks, if I recall. First fake it finds it pays for itself!

    No need, all were sold at spot, current spot B)

    Are you saying there is no need to test the gold you buy, because it was purchased at spot price? I don't quite understand what you are saying.

    It was always my intent to flip them & if they were no good, then I would have recourse via my cc if sellers refuse refunds.
    If I kept them them Sigma would work for me.

    Ok, I see what you are saying! Nice flip!

  • derrybderryb Posts: 36,110 ✭✭✭✭✭

    where'd ya flip 'em?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭

    @derryb said:
    where'd ya flip 'em?

    B/c we might not want to shop there..

    image
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