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1 oz gold shot

pwrful4pwrful4 Posts: 282 ✭✭
in Precious Metals
Saw on an auction site someone selling 1 oz of gold shot .9999, that noone bid on at $1,699 when gold is $1,830 an oz. Is this not good for trading/investment?

Comments

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    very poor liquidity... usually sold in sealed containers to jewelers, goldsmiths, etc.

    not generally bought/sold, as evidenced by the auction you cite

    Liberty: Parent of Science & Industry

  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>very poor liquidity... usually sold in sealed containers to jewelers, goldsmiths, etc.

    not generally bought/sold, as evidenced by the auction you cite >>




    Same holds true for silver shot. Not a good investment.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭
    Shot makes sense if you are doing silver or gold fabrication. Shot is easier to melt and easier to measure out what you need. Of course, eBay has enough scams that people are rightfully suspicious of any precious metal that isn't a coin or recognized bar.

    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

  • scotty1419scotty1419 Posts: 928 ✭✭✭
    You'll get a discount buying but it's hard to sell. I did fine selling some silver spot near spot but only because it was in the sealed APMX sealed bag.
  • FrankcoinsFrankcoins Posts: 4,569 ✭✭✭
    Always sold with the disclaimer NOT FOR TRADING OR INVESTMENT PURPOSES

    Link

    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • scotty1419scotty1419 Posts: 928 ✭✭✭


    << <i>Always sold with the disclaimer NOT FOR TRADING OR INVESTMENT PURPOSES >>



    I'm sure plenty of people thought the same thing about sterling silverware image
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    No Thx on the shots don't know of any buyers for this stuff
    Successful Buying and Selling transactions with:

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  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Buyers want to know they are getting the real McCoy because they know they will someday want to sell it. AGEs for me.

    "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

  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭
    The link in Frank's post shows a bottle of gold shot with a screw cap and with no seal visible. It would be too easy to unscrew the cap and to remove the gold shot and substitute brass shot. Does gold shot ever come in tamper-proof acrylic containers with holographic seals and other security features? These may be more likely to trade as an investment. In any event, bars and coins are the way to go.



    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

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Many companies that do gold plating of small parts use shot in the plating barrels to ensure electrical contact with the parts requiring the plating. However, it is copper shot that becomes gold plated. I have worked at companies that used this process. There was a problem with people stealing the shot and selling it to those who would reclaim the gold. Cheers, RickO
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