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Who the hell is buying these 1 gram gold?

The freaking premium on these things are nuts! No way you can make back that premium. I see as of writing melt at $61ish. But look at these listing prices. its crazy!

https://www.ebay.com/itm/1-gram-Gold-Bar-Secondary-Market/124375441322?hash=item1cf55a9faa:g:ZcYAAOSwbWlfgLvK

https://www.ebay.com/itm/1-gram-Gold-Bar-Random-Brand-Secondary-Market-999-9-Fine-in-Assay/303117097304?hash=item46932fd958:g:jOkAAOSwDk1fb4bh

What's the rational behind all this?

Comments

  • 3stars3stars Posts: 1,526 ✭✭✭✭✭

    The same people using robinhood to buy 0.01 shares of Tesla?

    Previous transactions: Wondercoin, goldman86
  • MilesWaitsMilesWaits Posts: 4,291 ✭✭✭✭✭

    The same people buying weekly lottery tickets? Or 6 ounce beers?

    Waiting for the swell in PM's and surf.
  • SurfinxHISurfinxHI Posts: 1,754 ✭✭✭✭✭
    edited January 3, 2021 3:41PM

    It’s a young social thang. Peeps want gold, but can’t afford a quarter ounce, so they pay big money for sub $100 pieces of gold. I wish I had figured it out about 6 months ago. Would have bought a pound in grams and made bank!

    At a recent coin show, dealers weren’t letting them go less than $81 a gram....

    Dead people tell interesting tales.
  • blitzdudeblitzdude Posts: 3,149 ✭✭✭✭✭

    Peeps with more dollars than sense. Been going on at least a century or 2.....maybe even more.

  • KliaoKliao Posts: 3,429 ✭✭✭✭✭

    People that want to have gold or giving as a gift. I pick them up and same for factional silver when I can get them for melt.

    Young Numismatist/collector
    Visit my eBay store kliao-69
    32 Positive BST transactions with 22 members and counting!

  • CoinHoarderCoinHoarder Posts: 699 ✭✭✭✭✭

    I bought some Sunshine 1 gm gold pieces a couple of years ago from JM Bullion for less than $50.00 each. So, even though it seemed like a very large premium at the time, I could sell them now, and make a profit, if I wanted to do so.

  • Jinx86Jinx86 Posts: 3,636 ✭✭✭✭✭

    I miss these being 17 bucks a piece back when in was in HS.

  • rickoricko Posts: 78,995 ✭✭✭✭✭

    Amazing... However, with the trajectory of gold in the last couple of days....well... Lets watch and see. Cheers, RickO

  • DrBusterDrBuster Posts: 4,399 ✭✭✭✭✭

    The dos pesos I have were obtained for melt, small little things but they're better than the 1 gram pieces to me...and 'real' money too.

  • LukeMarshallLukeMarshall Posts: 1,022 ✭✭✭✭

    Love the dos peso, and the dos y media
    Blast from the past photo

    It's all about what the people want...

  • CoinHoarderCoinHoarder Posts: 699 ✭✭✭✭✭

  • JustacommemanJustacommeman Posts: 20,406 ✭✭✭✭✭
    edited January 4, 2021 11:15PM

    .

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • CoinHoarderCoinHoarder Posts: 699 ✭✭✭✭✭
    edited January 4, 2021 7:21PM

    I don’t care for the 1 gram gold that doesn’t have a serial number on them.

  • 3stars3stars Posts: 1,526 ✭✭✭✭✭

    There is always this one...

    With the new 1/4-franc gold, with a diameter of 2.96mm and weighing 0.063g, issued on 23 January 2020, Swissmint wanted to push boundaries, stretch the limits of technology and achieve something unique.

    Previous transactions: Wondercoin, goldman86
  • jdimmickjdimmick Posts: 8,871 ✭✭✭✭✭

    Thats nothing, I had two 1 gram's go for well over 100 bucks each on ebay the past week

  • Jinx86Jinx86 Posts: 3,636 ✭✭✭✭✭

    Listed a "special" 1 gram gold on ebay a few days ago and have 9 watchers. Listed at 190 BIN, so far not open to offers, just testing the waters. Picked from scrap, because thats what it should be, just dont tell the newbs on ebay that.

  • BaleyBaley Posts: 22,201 ✭✭✭✭✭

    I dunno guys, who buys single sodas and candy bars from vending machines, instead of by the case from the wholesale club?

    People who decide it makes sense for them to do so there and then, I guess.

    Liberty: Parent of Science & Industry

  • isaiah58isaiah58 Posts: 377 ✭✭✭

    I watched a news piece several years ago related to this. It focused on India, I am not sure what their local premiums were.

    Those 1gram pieces allow impoverished communities to pool assets together and invest in gold. The story showed PAMP Suisse and similar bars, in their security packaging.

    Not everyone can afford 10th ounce let alone 1oz bars.

  • blitzdudeblitzdude Posts: 3,149 ✭✭✭✭✭

    @Jinx86 said:
    Listed a "special" 1 gram gold on ebay a few days ago and have 9 watchers. Listed at 190 BIN, so far not open to offers, just testing the waters. Picked from scrap, because thats what it should be, just dont tell the newbs on ebay that.

    I recently bought a few 1/10oz AGEs @ $190. Most expensive gold I've ever purchased. 1 gram @ $190? Crazy world!

  • isaiah58isaiah58 Posts: 377 ✭✭✭

    There are 1 gram bars available on all the known sellers websites priced competitively based on current market conditions.

    What people THINK they can get on eBay is irrelevant. IF people are bidding higher than the Buy Now prices are, from reliable sellers, then they are fools.

  • @3stars hah that's a good point, but you don't pay a fee or such a severe premium with Robinhood. Also I like the swiss coin, would buy one at the right price. spot +2%~

    @Weiss man I love me some dos pesos and 2.5 pesos. I own quite a few of them. I was unaware of the 1 gram canadian and just bought one for 2% over spot. they seem neat at the right price. not at those premiums I saw on ebay.

    @bronco2078 man I know about those premiums. had a failed engagement. big monetary loss on the ring.

    @isaiah58 yeah I understand those less well off would be willing to buy them to pool up wealth and Im all for it but at double melt price, it seems more like a robbery imo. guess the rich get richer.

  • USASoccerUSASoccer Posts: 394 ✭✭✭

    I love them; super liquid and has a killer premium. Easy to ship and not valuable enough for thieves to care.

  • jdimmickjdimmick Posts: 8,871 ✭✭✭✭✭

    Just had another one bring 222.00

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