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Is this 1 gram of gold worth it?

Hi, newbie here, and fairly new to precious metals.

I am being offered at spot price this 1 gram sheet of 24k gold (it is really tiny). The seller will give me a printed paper of the Karatmeter reading (I think that is what the machine is called), which says that the gold is 23.97k. Would this be considered .999 pure gold, and is it normal for a 24k gram of gold to say it has 23.97k and has 0.1 of Copper?

Is buying this at spot price a good deal for this gram of sheet gold, and how easy would it be to sell later on? I am into gold for the long term, so, I would probably sell it in a few decades at least. I am guessing it would only be sold for melt value, or perhaps there might be independent buyers interested in this time of gold. Gold is gold, right? No matter the shape, form etc.

If buying at spot price this type of gold makes sense, I will consider buying more in this format since having fractional, small amounts of gold might be easier to sell later on.


Comments

  • TomBTomB Posts: 21,176 ✭✭✭✭✭

    You'd likely have to sell it to an entity with a machine capable of reading out the purity such as the one in the images. Otherwise, most folks would have no interest in a tiny sliver of unknown origin. I know I would not buy it.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    Good luck selling that.

  • RonBRonB Posts: 636 ✭✭✭✭✭
    edited September 1, 2020 6:02AM

    I would recommend 1/10 oz AGE's..
    Certified if possible for authenticity.

    You can usually find them near spot $.
    Each 1/10 Toz contains 3.11 grams gold.

    Composition: 91.67% Gold
    Weight: 3.3930g
    AGW: 0.1000oz Troy

    Everyone knows what they are.

    In a few decades, when gold is $5k oz,
    everyone will still know what they are.
    They will be much easier to liquidate.

    JMHO - Ron

    Collector of Classic US Coins
  • PerryHallPerryHall Posts: 46,084 ✭✭✭✭✭

    @RonB---Agree with the tenth ounce AGE suggestion but it's hard to find them "near spot" especially when certified.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    @PerryHall said:
    @RonB---Agree with the tenth ounce AGE suggestion but it's hard to find them "near spot" especially when certified.

    I was going to say, I'm cheap and always digging for deals. I've found ASE's, 90% junk 1oz, 1/2oz, 1/4oz AGEs, certified MS62-64 double and full eagles at near spot, spot or even below spot but never once have I seen 1/10 AGEs at or even near. I do agree in the world of gold they are extremely easy to liquidate.

  • KliaoKliao Posts: 5,557 ✭✭✭✭✭

    @RonB each gold eagle contains 3.11 grams of pure gold. Not 2.84.
    I would choose a gold product that’s been stamped with its weight and purity either by a private company or a government mint.

    Collector
    75 Positive BST transactions buying and selling with 45 members and counting!
    instagram.com/klnumismatics

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @inkdiver .... Welcome aboard. I would not buy that item.... That form of 'certification' is easily faked.... Stick with trusted gold, such as AGE's in various denominations.... Gold Maples, Krugerrand's... Those will be easy to sell at almost any time. Cheers, RickO

  • RonBRonB Posts: 636 ✭✭✭✭✭
    edited September 1, 2020 6:23AM

    @Kliao said:
    @RonB each gold eagle contains 3.11 grams of pure gold. Not 2.84.
    I would choose a gold product that’s been stamped with its weight and purity either by a private company or a government mint.

    Correct, 1 Troy oz. = 31.1035 grams. Thanks.

    I've purchased raw and certified MS 68-69 1/10 AGE's at spot on the BST and MS 70 at .11 spot. Keep your eyes open, they do show up periodically, especially around tax time. I also found MS 70 1-Toz .9999 Buffalo's well below spot last Feb before the pandemic kicked in.

    Collector of Classic US Coins
  • MsMorrisineMsMorrisine Posts: 32,983 ✭✭✭✭✭

    Is this 1 gram of gold worth it?

    no

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • tincuptincup Posts: 5,110 ✭✭✭✭✭

    There you have it... excellent advice from the forum. That small piece will give you problems in the future when you may want to sell or trade it... the piece of paper certificate would not help you much either IMO. Though your funds may be limited.... stick to the KNOWN standards such as the recommended 1/10 ounce American Gold Eagles (Maple Leafs are good also). And stick to a trusted seller.... many fakes out there.

    ----- kj
  • Downtown1974Downtown1974 Posts: 6,789 ✭✭✭✭✭

    RonB, you’ve bought MS70 gold buffs for under spot? That’s incredible.

  • alexercaalexerca Posts: 255 ✭✭✭

    I buy and sell quite a bit of gold and would not even look at something like this for many reasons! Buy gold bullion from reputable dealers! I also buy nothing on ebay!

  • ashelandasheland Posts: 23,175 ✭✭✭✭✭

    Welcome to the forums! :) I'd pass on the unmarked piece of gold, go with something else as close to spot as possible. A lot of good choices and advice given so far...

  • Becky7474Becky7474 Posts: 103 ✭✭✭

    Welcome!!!

  • MilesWaitsMilesWaits Posts: 5,338 ✭✭✭✭✭

    Love, love, love my MapleGrams and glad I bought a Chinese themed 8 by 1 gram sheet when I did!
    You, my new friend, just got a superb amount of free advice that is worth much more than that gram of gold you almost wasted your hard-earned money on.

    Now riding the swell in PM's and surf.
  • dontippetdontippet Posts: 2,606 ✭✭✭✭

    @blitzdude said:

    @PerryHall said:
    @RonB---Agree with the tenth ounce AGE suggestion but it's hard to find them "near spot" especially when certified.

    I was going to say, I'm cheap and always digging for deals. I've found ASE's, 90% junk 1oz, 1/2oz, 1/4oz AGEs, certified MS62-64 double and full eagles at near spot, spot or even below spot but never once have I seen 1/10 AGEs at or even near. I do agree in the world of gold they are extremely easy to liquidate.

    I'm the same way. I search and search and search for deals and have purchased 1/10 oz ASE's for 1.91% over spot.

    > [Click on this link to see my ebay listings.](https://www.ebay.com/sch/i.html?_nkw=&_in_kw=1&_ex_kw=&_sacat=0&_udlo=&_udhi=&_ftrt=901&_ftrv=1&_sabdlo=&_sabdhi=&_samilow=&_samihi=&_sadis=15&_stpos=61611&_sargn=-1&saslc=1&_salic=1&_fss=1&_fsradio=&LH_SpecificSeller=1&_saslop=1&_sasl=mygirlsthree3&_sop=12&_dmd=1&_ipg=50&_fosrp=1)
    >

    Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
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