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Would you rather have a $100K in Cash or Gold?

BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭
in Precious Metals
I was watching the Pawn Shop show last night and an elderly gentleman wanted a $100K for his 1931 or 1932 Lincoln.

They negotiated a deal for $95K and he opted to trade the bundle of cash once handed to him for $95K in gold.

With gold at an all time high would you rather have the cash or gold image
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!

Comments

  • WingsruleWingsrule Posts: 3,010 ✭✭✭✭
    50/50 split.

    I suck at market timing.
  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    I don't think there is a Lincoln Cent worth 100K. image

    I'd rather have the cash to buy pm's on the soon coming dip.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    I'll take the Gold....btw that seller is already ahead of the game. He was paid off @ $1500 per oz in Gold.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>I'll take the Gold....btw that seller is already ahead of the game. He was paid off @ $1500 per oz in Gold. >>



    that gold was bought probably at a big discount in the first place from $1500, too...i did not see the episode, though.

    at least it appears this seller did not catch a cab to the strip to support a habit, but most likely to Utah to stash it.image
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Realistically, probably half gold and half cash. Nice to have the cash for flexibility, but not so great to have it earning 1% interest in the bank.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>Realistically, probably half gold and half cash. Nice to have the cash for flexibility, but not so great to have it earning 1% interest in the bank. >>



    He'll need some cash to pay income tax on that windfall.

    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

  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Cash. No new taxes when I sell cash. Besides, gold is fixin' to get cheaper.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    always and forever (or at least until I can start paying for things needed in bullion), CASH
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • goingbrokegoingbroke Posts: 1,410
    100% cash!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • 1970SilverArt1970SilverArt Posts: 482 ✭
    I prefer the cash because I would use the cash the buy amount of gold and the amount of silver that I would prefer to have.
    DISCLAIMER: I am NOT a '70's silver art bar expert but I try my best to play one on the Internet.
  • NumismomanNumismoman Posts: 22
    In cash, then I'd buy all the other PGM's...
    http://www.ebay.co.uk/sch/mr_numismatty_fine_coins/m.html?_nkw=&_armrs=1&_from=&_ipg=&_trksid=p3686
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>100% cash! >>



    image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Gold, real $$image
    Avid collector of GSA's.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Gold, real $$

    Can you pay for anything with bullion? I mean, i know you could cash the bullion in for cash and all, but getting a car dealer to take bullion as payment for a car might be a little trouble. Having the Au, then you gotta find someone willing to purchase that large amount for that car too. Too many headaches...cash gets you what you want when you want it...all jmho.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>Gold, real $$

    Can you pay for anything with bullion? I mean, i know you could cash the bullion in for cash and all, but getting a car dealer to take bullion as payment for a car might be a little trouble. Having the Au, then you gotta find someone willing to purchase that large amount for that car too. Too many headaches...cash gets you what you want when you want it...all jmho. >>



    You're assuming that gsa1fan is going to spend it right away. What if he was going to stash it away for 10 or 15 years? Would you want paper or gold in your safe for the next 10 years?


    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

  • robertprrobertpr Posts: 6,862 ✭✭✭


    << <i>Cash. No new taxes when I sell cash. >>



    Maybe. But going forward, at least the government can't see that gold sitting in his bank account image
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I just read the title not car sales story. Personally if I had cash I'd spend it rather fast. Gold would be more of a saving play.
    Avid collector of GSA's.
  • TheBigBTheBigB Posts: 942 ✭


    << <i>Gold, real $$

    Can you pay for anything with bullion? I mean, i know you could cash the bullion in for cash and all, but getting a car dealer to take bullion as payment for a car might be a little trouble. Having the Au, then you gotta find someone willing to purchase that large amount for that car too. Too many headaches...cash gets you what you want when you want it...all jmho. >>



    I bet I could find an auto dealer to take gold, my local dive shop will.image
  • cjmezzcjmezz Posts: 467
    Anyone notice he had a Barrett Jackson coat on? Not sure why he would be taking a $150k car to the pawn shop and take $95k for it....if he knows Barrett Jackson, he knows the cars worth. Maybe to just make good TV?

    I'd take the cash
    "When someone tells you nothing is impossible, ask them to dribble a football"

    MANY positive BST Transactions
  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    Cash.
    Becky
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Gold.
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭


    << <i>Anyone notice he had a Barrett Jackson coat on? Not sure why he would be taking a $150k car to the pawn shop and take $95k for it....if he knows Barrett Jackson, he knows the cars worth. Maybe to just make good TV?

    I'd take the cash >>



    That 150k would need about 15-20k of work on that Lincoln to maybe get it there. Plus all the auction fees that Barrett Jackson gets (isn't it 10% buyer and seller?), he would have gotten less I bet.
  • KUCHKUCH Posts: 1,186
    I would have kept the Lincoln!image

    Yes, diversify your assets, then all bases are covered.
  • yellowkidyellowkid Posts: 5,486 ✭
    At this particular moment in time I would opt for the gold, probably put it in the SDB and forget about it.
  • BBQnBLUESBBQnBLUES Posts: 1,803 ✭
    GOLD (in one ounce units)

    i'd be less tempted to spend it on something frivolous...
  • KUCHKUCH Posts: 1,186


    << <i>I would have kept the Lincoln!image

    Yes, diversify your assets, then all bases are covered. >>



    Seriously, here is a list of the cars once owned by me and spouse. I wish I still had them sitting in storage:

    1971 MG Midget
    1972 MG Midget
    1974 Trans Am
    1975 Nova Sport
    1976 Gremlin
    1977 Jeep 4x4 Rag Top
    1976 Porsche 914
    1974 Cougar
    1976 Olds Cutlass GTO
    1978 Olds Omega
    In the early 80's we owned a Ford store, so from 1981-1985 we drove new cars and used cars off the lot
    1985 Ford Escort GT
    1972 Mercedes 450SL
    1988 Chevy Suburban
    1990 Chevy Suburban
    1936 Ford Phaeton - this car was completely retored by us.
    1992 Ford F150
    1997 Cadillac STS
    1998 Tahoe
    1998 Nissan Altima
    2000 Avalanche
    1969 MGB GT Coupe, custom paint with full body British flag
    2006 Acura
    2009 BMW
    2000 BMW Z3 Coupe M series

    I may have missed one or 2, but it would be quite a collection in today's market.

  • stevkcstevkc Posts: 166
    Saw the episode and couldn't really figure out the point. The seller seemed to have a firm $100K price, stayed firm despite sveral counteroffers from Rick. Then he agreed to take 95K, but in gold.

    The only thing I can think of is that I assume he received gold coins worth 95K based on spot at that time. If you were to just buy $X of gold coins, you would likely pay spot + a premium, correct? So compared to what he could normally buy them for, he actually received a value greater than $95K. Or I could be wrong.

  • BigRickBigRick Posts: 1,334
    CASH
    My Sets
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Saw the episode and couldn't really figure out the point. The seller seemed to have a firm $100K price, stayed firm despite sveral counteroffers from Rick. Then he agreed to take 95K, but in gold.

    The only thing I can think of is that I assume he received gold coins worth 95K based on spot at that time. If you were to just buy $X of gold coins, you would likely pay spot + a premium, correct? So compared to what he could normally buy them for, he actually received a value greater than $95K. Or I could be wrong. >>



    He received gold coins based on $1500 spot...as reported in the show.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • RobertSRobertS Posts: 485
    I think I would have taken the cash.
  • CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭
    I'll take what's behind Door Number 3!!!!!

    image
    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.
  • PokermandudePokermandude Posts: 2,713 ✭✭✭


    << <i>

    << <i>Saw the episode and couldn't really figure out the point. The seller seemed to have a firm $100K price, stayed firm despite sveral counteroffers from Rick. Then he agreed to take 95K, but in gold.

    The only thing I can think of is that I assume he received gold coins worth 95K based on spot at that time. If you were to just buy $X of gold coins, you would likely pay spot + a premium, correct? So compared to what he could normally buy them for, he actually received a value greater than $95K. Or I could be wrong. >>



    He received gold coins based on $1500 spot...as reported in the show. >>



    I haven't seen this episode yet. But I am assuming they sold him "$95k worth of gold". I've seen their markups on silver in person, I am sure he didn't get a very good deal on the price per ounce from them. I'd have taken cash and bought my own bullion (mix of gold and silver).
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    I would go for %50 cash %50 gold. If that was not an option I would go for %100 gold.
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    Taken the cash & bought SILVER ! ! ! image

    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!
  • CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭
    Look, let's just settle this question!

    Send me $50,000 in gold and $50,000 in cash, and I'll let you know later which one I enjoyed better!

    TD

    image
    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: 46,111 ✭✭✭✭✭


    << <i>Look, let's just settle this question!

    Send me $50,000 in gold and $50,000 in cash, and I'll let you know later which one I enjoyed better!

    TD

    image >>



    Excellent compromise. Heck. I'll take any combination of cash and gold and be happy to get it.image


    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

  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    I believe the answer to this question is "YES"
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • johnny9434johnny9434 Posts: 28,307 ✭✭✭✭✭


    << <i>50/50 split.

    I suck at market timing. >>




    that goes for me to
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