How not to market bullion
Weiss
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We had a thread some time ago where we discussed what the ideal bullion piece would look like.
Apmex is selling these new Scotiabank 1/4 oz rounds in cards. And I think they illustrate exactly how NOT to package and market bullion--to me and my sensibilities, at least.
Weight: 1/4 ounce
Fineness: 24 Karat
Ok, the fineness I'll give you. 24k is so 19th century, but at least they've given it in ten-thousandths(?), too.
But 1/4 ounce? Not in grams, not even in decimal, but the little fraction symbol for 1/4? And ounce? What kind of ounce. We know gold is measured in Troy, do they? Does the person you're selling to or buying from?
If you're including archaic or obsolete descriptors for aesthetics, fine. I don't think they belong on bullion but it's your gold. But to use fractions of an "ounce", without specifying whether avoirdupois or troy seems absolutely the wrong way to go in an already confusing market where a few grams really add up.
Apmex is selling these new Scotiabank 1/4 oz rounds in cards. And I think they illustrate exactly how NOT to package and market bullion--to me and my sensibilities, at least.
Weight: 1/4 ounce
Fineness: 24 Karat
Ok, the fineness I'll give you. 24k is so 19th century, but at least they've given it in ten-thousandths(?), too.
But 1/4 ounce? Not in grams, not even in decimal, but the little fraction symbol for 1/4? And ounce? What kind of ounce. We know gold is measured in Troy, do they? Does the person you're selling to or buying from?
If you're including archaic or obsolete descriptors for aesthetics, fine. I don't think they belong on bullion but it's your gold. But to use fractions of an "ounce", without specifying whether avoirdupois or troy seems absolutely the wrong way to go in an already confusing market where a few grams really add up.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame
--Severian the Lame
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Comments
It makes me wonder who they planned to sell these to...
It looks like you would have to 'destroy' the holder just to weigh the round.
80's $5 gold commem would seem to be a better alternative in the States.
They went out of their way to make gold bullion look boring. Maybe the red label works for asians -- I don't know.
There's no excuse for not using the word troy, considering its swiss.
It's great if it's being marketed in the US. But that immediately limits your market from 6 billion to 300 million. As a buyer of gold, I don't want to be hamstringed like that when the time to sell comes around.
--Severian the Lame
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It makes me wonder who they planned to sell these to...
It looks like you would have to 'destroy' the holder just to weigh the round.
80's $5 gold commem would seem to be a better alternative in the States.
They went out of their way to make gold bullion look boring. Maybe the red label works for asians -- I don't know.
There's no excuse for not using the word troy, considering its swiss. >>
U.S. $5 commem gold has no weight OR fineness on it. I agree that these should have included "troy".
But they do come with a description card, which to me is as good as an attached assay card.