Who the hell is buying these 1 gram gold?
goldrealmoney79
Posts: 417 ✭✭✭
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!
What's the rational behind all this?
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The same people using robinhood to buy 0.01 shares of Tesla?
The same people buying weekly lottery tickets? Or 6 ounce beers?
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....
Peeps with more dollars than sense. Been going on at least a century or 2.....maybe even more.
The whole worlds off its rocker, buy Gold™.
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.
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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.
I miss these being 17 bucks a piece back when in was in HS.
Amazing... However, with the trajectory of gold in the last couple of days....well... Lets watch and see. Cheers, RickO
Local dealers have several of the Canadian 1 gram pieces.
They're relatively cheap and at exactly one gram, it's pretty easy to look at today's gold prices to find out exactly how much you overpaid.
I've said it before and I'll say it again: The Mexican 2 peso.
They contain 1.499 grams of pure gold. They're abundant, they're liquid, they carry low premiums.
The 2 peso coins already have 50% more pure gold in them than the 1 gram coins do. But because they're also alloyed at 90% gold, 10% copper, their gross weight is 1.666 grams. That's big enough to be seen with the naked eye.
You can even find them in slabs if you really want them, including simple NGC "Brilliant Uncirculated" slabs that have little premium.
I prefer the older dates (1919, 1920). If you keep your eyes open, you can find them at the same price as the more common 1945 dated coins. Here's a handful of the 2 peso and 2.5 peso coins:
--Severian the Lame
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.
Love the dos peso, and the dos y media
Blast from the past photo
It's all about what the people want...
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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......
I don’t care for the 1 gram gold that doesn’t have a serial number on them.
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.
Thats nothing, I had two 1 gram's go for well over 100 bucks each on ebay the past week
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 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
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.
I recently bought a few 1/10oz AGEs @ $190. Most expensive gold I've ever purchased. 1 gram @ $190? Crazy world!
The whole worlds off its rocker, buy Gold™.
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.
I love them; super liquid and has a killer premium. Easy to ship and not valuable enough for thieves to care.
Just had another one bring 222.00