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How about some help with a Vietnamese gold bar please

BigEBigE Posts: 6,949 ✭✭✭
in Precious Metals
This bar was rectangular with a dragon on it I believe, owner said it was 1.2 ounces and said he would sell it for 1.2 times the spot price. Should I drive back to get it? Should I drive back fast or slow or not at all-----BigE
image
I'm glad I am a Tree

Comments

  • OPAOPA Posts: 17,124 ✭✭✭✭✭
    You need to ask yourself, "what am I going to do with it?" ... Not much of a market in this country for odd size bullion bars. You may have a hard time selling it at spot. I'd stay away from it & pay a small premium for recognized bars such as PAMP or Credit Suisse.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Five years ago I would have loved to own some of these post WWII/Vietnam War era pieces:

    image

    Now I wouldn't touch anything like that with a 10 foot pole.

    You can find gold you would be completely comfortable with at spot (melt, whatever). You're talking over $1000. It's worth a tiny premium to know you weren't just taken.
    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
  • BigEBigE Posts: 6,949 ✭✭✭
    Thanks guys, thats what I figured. I did get from the same person a giant 1 pound silver rounder for melt, so I am happy---------BigE
    I'm glad I am a Tree
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    be very careful, lots of fakes!!!
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  • CaptHenwayCaptHenway Posts: 32,251 ✭✭✭✭✭
    I think that is a TAEL, 37.5 grams pure, or about the same as a Mexican 50 pesos, which 1.2057 tr. oz. net.
    TD
    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.
  • PerryHallPerryHall Posts: 46,240 ✭✭✭✭✭


    << <i>be very careful, lots of fakes!!! >>



    Agree. I wouldn't buy it unless I could first send it to a refiner.

    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

  • mudskippiemudskippie Posts: 540 ✭✭
    I have seen those Kim-Thanh gold bars when I was a little kid; my mom was selling some family real estates for some gold bars. Houses in Saigon are valued by gold bars. The house that she dwells in right now was bought in 1990 for 12 bars, but now she says somebody offered her 42 bars for the house. Some of these bars were produced during French Colonial period, so I think they're probably collector items.
  • BigEBigE Posts: 6,949 ✭✭✭
    Yep thats what it was, a Tael, if he will guarantee it genuine, should I get it?--------BigE
    I'm glad I am a Tree
  • mudskippiemudskippie Posts: 540 ✭✭
    I certainly love to own one because I collect French Indochine coins. Unfortunately, I don't think it's very liquidate here in the states. Even if the owner guarantees that the bar is genuine, I suggest that you be cautious. Fake bars are everywhere, jewelry shops in Vietnam can test the content for a small fee, over here, you're on your own. Unless, you're an expert in the field or having experience collecting the series, I can only advise you to stay away image
  • LancastercoinLancastercoin Posts: 251
    They are nice bars, but 1.2x melt is a little steep.
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