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Bought a couple of 1oz gold bars below today’s spot, (13 ounces).
KollectorKing
Posts: 4,820 ✭✭✭✭✭
Seller’s stock photos
5
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My YouTube Channel
nice pick up, i like
Nice pick-up...but I do not see any cs bars having been sold below spot of $1,224. I must have missed it.
I bought them last week when pm was ~$1200.00.
Nice score. Congrats!
Nice buy, congrats
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Very nice, congratulations !!!
You bought two different gold bars with the same serial number?
Liberty: Parent of Science & Industry
They’re seller’s stock photos.
Actual bars received:
I bought a total of 8 one ounce gold bars & coins last week:
2 Britannia coins &
6 bars.
Pass the mustard test?
No worries, have Ebay guarantee.
cut them out and test them via XRF or specific gravity. Will not hurt the value. Gold is gold and packaging does not add to the value. Let us know how they test. Give ya odds.....
bob
Good. Stack it up.
Practice makes perfect & nobody is perfect. So, practice being nobody.
I bought below spot. Then spot dropped. And dropped.... and dropped.... and dropped.
Practice makes perfect & nobody is perfect. So, practice being nobody.
See Spot drop. See Jack run. Who remembers that book ?
Practice makes perfect & nobody is perfect. So, practice being nobody.
Bought 5 more at below today’s current spot price $1223.40
Spot $1225.50. 823pm
half the people on here thinks gold is going to 1,100 per ounce, I am not one of them
I hope it goes to $1100 or less, then I’ll buy more to average out my cost
Spot 1226.20.
@KollectorKing
Nice avatar!
only for a limited time. Have them verified ASAP.
Link to the seller/auction?
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
Could be the camera, but the color looks a little "off?"
I'd say this one is fake.
Look at the tight radiused corners and larger serial number.
Under spot though at $1050...if your a gambler.
Same seller has these....also look like fake pan am bars.
Both look to have sold....someone isn't doing their due diligence and will learn a hard lesson in the future.
A quick check of ebay completed listings shows 7 one ounce gold bars (several Pamp or Credit Suisse) have sold for under $1200 in the last week.
Bars are the most counterfeited of all gold and silver products.
Most have actual PM plating and many are in counterfeit sealed assay packaging. There are many sites that offer counterfeit detection tips for the bars. Know your bars before purchasing and always have a way of verifying them when they arrive. I like the Sigma PMV.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
Bought five of these at below spot
Uh oh...
That's the warning sign right there. Under spot and eBay fees?...
Actually if I factor cc rebates, my cost is much more lower than current spot.
I wish they were my purchases, but nope.
Please watch this utube video:
https://www.youtube.com/watch?v=s2SJdUW-Km0&t=233s
bob
I refined about 8 ounces of scrap to get this 24k , 3.5+ ounces of gold.
](https://us.v-cdn.net/6027503/uploads/editor/5e/dj4jklqi6wch.jpeg)
Yes, below spot. Sell me your scrap.
Practice makes perfect & nobody is perfect. So, practice being nobody.
I, like the others highly urge you to get those bars checked by someone with a Sigma PMV!
My YouTube Channel
Agreed. Gold under melt is automatically suspicious. Santa Claus does not come for another month.
@1peter1223
I live in Vegas and remember the story from the news. I do not remember any "numbers" in the story, just that a local Restaurateur was suing a local coin company over fake gold bars.
Now, lets just think about the price of gold during the past 40 years. If you bought more when it was $400 than when it was $1600 those numbers, millions, would not be hard to get to. $24,000 spent on per year for 40 years at an average of $400 would equal $3,000,000 at $1,250 per ounce. This "story" was not recent and it happened some 10 or more years ago. Before the huge run up as I recall.
It's plausible
10 years ago gold was $800, and 15 years ago it was $400 per ounce and 20 years ago (1998) it was under $300 per ounce. 40 years ago it was under $200 per ounce.
These are some nice pickups. How many bars do you have now? I am just getting started.
I am considering putting the gold into a rollover for long-term storage. I'm curious if they hold bars within their vaults.
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Have done a few rollovers for clients. As I recall, bars were excluded from IRAs.
Practice makes perfect & nobody is perfect. So, practice being nobody.
I prefer a Roth conversion over a rollover. I also prefer a Roth on-line brokerage account where liquidity is quick and simple. There are many avenues to PM plays with equities, especially with ETFs. Too many limitations with a PM IRA.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
I agree DerryB. The storage fees, set up fees and inability to hold one's metal are a few drawbacks, but I get it. The IRS doesn't trust people with their own wealth. People could say they have it and then sell it.... money is a funny business.
Practice makes perfect & nobody is perfect. So, practice being nobody.
Say what....spot $1237???
If you are buying that much gold, why not just buy a Sigma for yourself? They are only like 600 bucks, if I recall. First fake it finds it pays for itself!
No need, all were sold at spot, current spot
Are you saying there is no need to test the gold you buy, because it was purchased at spot price? I don't quite understand what you are saying.
It was always my intent to flip them & if they were no good, then I would have recourse via my cc if sellers refuse refunds.
If I kept them them Sigma would work for me.
Ok, I see what you are saying! Nice flip!
where'd ya flip 'em?
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
B/c we might not want to shop there..