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GOLD $800 a ounce

indiananationalsindiananationals Posts: 1,094
in Precious Metals
ok may sound crazy but i went to a coin show today and was looking at a dealers gold coins and he pulls out a 2006 1/2 krugerrand NGC PR70 ULTRA CAMEO and says give me 400 for it im sitting there in disbelief did i hear him right .... im thinking what is the catch am i missing something here ...so i stand there for a minute and i say ok i think i will take it pay him 400 and walk away to silvertownes table as im lost is it fake or something things like this dont happen do they so i ask them to look at it for me he says yea its goo i will give u 725 for it right now well i took the quick profit and am going to invest in a old slabbed piece of gold ....deal of the show or what
POSITIVE TRANSACTIONS
gdavis70,Musky1011,cohodk,cucamongacoin,robkool,chumley, drei3ree, Rampage,jmski52, commoncents05, dimples, dcarr, Grouchy, holeinone1972, JonMN34, mission16,meltdown,Omega,PQpeace, SeaEagleCoins, WaterSport, whatsup,Wizard1,WinLoseWin,MMR,49thStateofMind,SamByrd,Ahrensdad,BAJJERFAN,timrutnat,TWQG,CarlWohlforth,Ciccio,PreTurb,NumisMe,Patches,NotSure,luvcoins123,piecesofme,perryhall,nibanny,atarian,airplanenut

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    It happens. Though usually a dealer catches the error (or seller informs dealer) before finally letting it walk. I certainly can't explain it.

    You must be a good customer of his!

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BarndogBarndog Posts: 20,490 ✭✭✭✭✭
    hitting the pipe hard right before the public comes in is not conducive to making a profit. Wonder if the dealer ever figured it out.
    JR Newsletter Online Edition
  • MrSpudMrSpud Posts: 4,499 ✭✭✭
    Maybe someone just sold it to him for $300?
  • PerryHallPerryHall Posts: 46,116 ✭✭✭✭✭
    Perhaps he thought it was a quarter ounce.

    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

  • indiananationalsindiananationals Posts: 1,094


    << <i>Perhaps he thought it was a quarter ounce. >>



    that is what i was thinking but it was even slabbed
    POSITIVE TRANSACTIONS
    gdavis70,Musky1011,cohodk,cucamongacoin,robkool,chumley, drei3ree, Rampage,jmski52, commoncents05, dimples, dcarr, Grouchy, holeinone1972, JonMN34, mission16,meltdown,Omega,PQpeace, SeaEagleCoins, WaterSport, whatsup,Wizard1,WinLoseWin,MMR,49thStateofMind,SamByrd,Ahrensdad,BAJJERFAN,timrutnat,TWQG,CarlWohlforth,Ciccio,PreTurb,NumisMe,Patches,NotSure,luvcoins123,piecesofme,perryhall,nibanny,atarian,airplanenut
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    I would have brought it back to him and mentioned his oversight. We all make mistakes. But that's me.

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • CaptHenwayCaptHenway Posts: 32,119 ✭✭✭✭✭


    << <i>Perhaps he thought it was a quarter ounce. >>



    That was my thought. With a melt of $340, $400 would be about right for the grade indicated.

    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.
  • TomBTomB Posts: 21,202 ✭✭✭✭✭
    Without question the dealer thought it was a quarter ounce. It is likely that I would have told him of his error, but I am not slamming you for your decision.
    Thomas Bush Numismatics & Numismatic Photography

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

    image
  • indiananationalsindiananationals Posts: 1,094
    i just couldnt give up half a ounce for 400 ......thats like once in a lifetime
    POSITIVE TRANSACTIONS
    gdavis70,Musky1011,cohodk,cucamongacoin,robkool,chumley, drei3ree, Rampage,jmski52, commoncents05, dimples, dcarr, Grouchy, holeinone1972, JonMN34, mission16,meltdown,Omega,PQpeace, SeaEagleCoins, WaterSport, whatsup,Wizard1,WinLoseWin,MMR,49thStateofMind,SamByrd,Ahrensdad,BAJJERFAN,timrutnat,TWQG,CarlWohlforth,Ciccio,PreTurb,NumisMe,Patches,NotSure,luvcoins123,piecesofme,perryhall,nibanny,atarian,airplanenut
  • 30AnvZ2830AnvZ28 Posts: 1,619


    << <i>i just couldnt give up half a ounce for 400 ......thats like once in a lifetime >>



    But you immediately sold it? Its not like you took advantage of a situation to add to a pile.
  • indiananationalsindiananationals Posts: 1,094
    yes i sold it to buy more gold image
    POSITIVE TRANSACTIONS
    gdavis70,Musky1011,cohodk,cucamongacoin,robkool,chumley, drei3ree, Rampage,jmski52, commoncents05, dimples, dcarr, Grouchy, holeinone1972, JonMN34, mission16,meltdown,Omega,PQpeace, SeaEagleCoins, WaterSport, whatsup,Wizard1,WinLoseWin,MMR,49thStateofMind,SamByrd,Ahrensdad,BAJJERFAN,timrutnat,TWQG,CarlWohlforth,Ciccio,PreTurb,NumisMe,Patches,NotSure,luvcoins123,piecesofme,perryhall,nibanny,atarian,airplanenut
  • GoldbullyGoldbully Posts: 17,317 ✭✭✭✭✭


    << <i>yes i sold it to buy more gold image >>



    No offense, but if you decided to keep your "so called" profit and buy more gold.....

    ......I wouldn't be blabbing it on a public forum.

    True colors can be most telling.
  • CaptHenwayCaptHenway Posts: 32,119 ✭✭✭✭✭


    << <i>ok may sound crazy but i went to a coin show today and was looking at a dealers gold coins and he pulls out a 2006 1/2 krugerrand NGC PR70 ULTRA CAMEO and says give me 400 for it im sitting there in disbelief did i hear him right .... im thinking what is the catch am i missing something here ...so i stand there for a minute and i say ok i think i will take it pay him 400 and walk away to silvertownes table as im lost is it fake or something things like this dont happen do they so i ask them to look at it for me he says yea its goo i will give u 725 for it right now well i took the quick profit and am going to invest in a old slabbed piece of gold ....deal of the show or what >>



    If a dealer bragged that somebody walked in his door and said "I want $400 for this Proof quarter Krugerrand, and it was a half ounce and the dealer bought it for $400, what would be the reaction on this site?
    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.
  • 30AnvZ2830AnvZ28 Posts: 1,619


    << <i>

    << <i>ok may sound crazy but i went to a coin show today and was looking at a dealers gold coins and he pulls out a 2006 1/2 krugerrand NGC PR70 ULTRA CAMEO and says give me 400 for it im sitting there in disbelief did i hear him right .... im thinking what is the catch am i missing something here ...so i stand there for a minute and i say ok i think i will take it pay him 400 and walk away to silvertownes table as im lost is it fake or something things like this dont happen do they so i ask them to look at it for me he says yea its goo i will give u 725 for it right now well i took the quick profit and am going to invest in a old slabbed piece of gold ....deal of the show or what >>



    If a dealer bragged that somebody walked in his door and said "I want $400 for this Proof quarter Krugerrand, and it was a half ounce and the dealer bought it for $400, what would be the reaction on this site?
    TD >>



    I think we all know everyone would try to overthrow the dealer.
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭


    << <i>

    << <i>yes i sold it to buy more gold image >>



    No offense, but if you decided to keep your "so called" profit and buy more gold.....

    ......I wouldn't be blabbing it on a public forum.

    True colors can be most telling. >>



    I'm having a hard time understanding why anyone would think that the OP did anything underhanded or unethical!
    I'll bet the dealer had recently bought it, knew exactly what he had in it, and turned a profit. What's wrong with that?
    The big loser is probably the person that the dealer bought it from ! ! ! JMO

    HH

    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>yes i sold it to buy more gold image >>



    No offense, but if you decided to keep your "so called" profit and buy more gold.....

    ......I wouldn't be blabbing it on a public forum.

    True colors can be most telling. >>



    I'm having a hard time understanding why anyone would think that the OP did anything underhanded or unethical!
    I'll bet the dealer had recently bought it, knew exactly what he had in it, and turned a profit. What's wrong with that?
    The big loser is probably the person that the dealer bought it from ! ! ! JMO

    HH >>



    I don't find that plausible at all. MJ
    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......
  • indiananationalsindiananationals Posts: 1,094
    he just bought it a few hours earlier ...so ...i really dont feel i was in the wrong if u go to a dealers table and u see a coin u know is worth 700 and he says give me 400 are u going to say oh no sir that is much to cheap i would like to pay u more of my hard earned money .....i find it hard to believe anyone in there right mind would pony up the extra money

    thanks halfhunter for seeing my point
    POSITIVE TRANSACTIONS
    gdavis70,Musky1011,cohodk,cucamongacoin,robkool,chumley, drei3ree, Rampage,jmski52, commoncents05, dimples, dcarr, Grouchy, holeinone1972, JonMN34, mission16,meltdown,Omega,PQpeace, SeaEagleCoins, WaterSport, whatsup,Wizard1,WinLoseWin,MMR,49thStateofMind,SamByrd,Ahrensdad,BAJJERFAN,timrutnat,TWQG,CarlWohlforth,Ciccio,PreTurb,NumisMe,Patches,NotSure,luvcoins123,piecesofme,perryhall,nibanny,atarian,airplanenut
  • PerryHallPerryHall Posts: 46,116 ✭✭✭✭✭


    << <i>he just bought it a few hours earlier ...so ...i really dont feel i was in the wrong if u go to a dealers table and u see a coin u know is worth 700 and he says give me 400 are u going to say oh no sir that is much to cheap i would like to pay u more of my hard earned money .....i find it hard to believe anyone in there right mind would pony up the extra money

    thanks halfhunter for seeing my point >>



    Don't feel guilty about ripping the dealer. He probably paid well below what he charged you for the coin.

    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

  • gecko109gecko109 Posts: 8,231 ✭


    << <i>i just couldnt give up half a ounce for 400 ......thats like once in a lifetime >>





    I hope to never see you in an "unethical dealer bashfest" thread here!
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>

    << <i>yes i sold it to buy more gold image >>



    No offense, but if you decided to keep your "so called" profit and buy more gold.....

    ......I wouldn't be blabbing it on a public forum.

    True colors can be most telling. >>



    I'm having a hard time understanding why anyone would think that the OP did anything underhanded or unethical!
    I'll bet the dealer had recently bought it, knew exactly what he had in it, and turned a profit. What's wrong with that?
    The big loser is probably the person that the dealer bought it from ! ! ! JMO

    HH >>




    I'd bet an ounce of gold that you are wrong. image
  • tcmitssrtcmitssr Posts: 1,570 ✭✭✭


    << <i>

    << <i>i just couldnt give up half a ounce for 400 ......thats like once in a lifetime >>





    I hope to never see you in an "unethical dealer bashfest" thread here! >>



    Entirely different, and unrelated, subject matter.

    The dealer was either careless or didn't care. The rip was deserved.
  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭
    Hard to see where the OP would be in the wrong - he was (at least according to his account) only responding to a clear offer. The earlier "pipe hitting" comment seems appropos.

    Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1

  • UnknownUnknown
    This content has been removed.
  • PerryHallPerryHall Posts: 46,116 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>i just couldnt give up half a ounce for 400 ......thats like once in a lifetime >>





    I hope to never see you in an "unethical dealer bashfest" thread here! >>



    Entirely different, and unrelated, subject matter.

    The dealer was either careless or didn't care. The rip was deserved. >>



    Agree. The dealer is a professional and should be held to a higher standard.




    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

  • indiananationalsindiananationals Posts: 1,094
    thanks all i had to share it with someone it was to amazing/once in a lifetime to not tell everyone i could ...my only regret was not asking to see what else he had purchased that day that he would sell......image
    POSITIVE TRANSACTIONS
    gdavis70,Musky1011,cohodk,cucamongacoin,robkool,chumley, drei3ree, Rampage,jmski52, commoncents05, dimples, dcarr, Grouchy, holeinone1972, JonMN34, mission16,meltdown,Omega,PQpeace, SeaEagleCoins, WaterSport, whatsup,Wizard1,WinLoseWin,MMR,49thStateofMind,SamByrd,Ahrensdad,BAJJERFAN,timrutnat,TWQG,CarlWohlforth,Ciccio,PreTurb,NumisMe,Patches,NotSure,luvcoins123,piecesofme,perryhall,nibanny,atarian,airplanenut
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