So when is a tenth ounce of gold worth $418.99?
gecko109
Posts: 8,231 ✭
When it looks something like this:
http://cgi.ebay.com/1998-10-YUAN-CHINESE-PROOF-GOLD-PANDA-1-10-OUNCE_W0QQitemZ290241640299QQihZ019QQcategoryZ139964QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
Normally I simply would not pay over 4x melt for a piece of modern junk. But this is much needed for my 27 piece date set, and had just 8,000 pieces struck. It is by far the rarest 1/10th ounce gold panda in the series, and a very pretty coin to boot!
http://cgi.ebay.com/1998-10-YUAN-CHINESE-PROOF-GOLD-PANDA-1-10-OUNCE_W0QQitemZ290241640299QQihZ019QQcategoryZ139964QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
Normally I simply would not pay over 4x melt for a piece of modern junk. But this is much needed for my 27 piece date set, and had just 8,000 pieces struck. It is by far the rarest 1/10th ounce gold panda in the series, and a very pretty coin to boot!
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Comments
i took Math back in the 60's but i think the answer is when the spot price for an ounce of gold reaches about $4,189.90. give or take a few dollars, of course.
<< <i>So when is a tenth ounce of gold worth $418.99? >>
When it's being sold on eBay, where shill bidding is undetectible.
The rest of my Gold Eagles, curiously, are priced pretty consistently as you integrate over the volume.
my imagination tells me that currently it'd be worth right around $100. again, give or take a few dollars.
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<< <i>So when is a tenth ounce of gold worth $418.99? >>
When it's being sold on eBay, where shill bidding is undetectible.
Where is shill bidding detectable?
<< <i>Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?
Yep. That's the demand side. And you don't even need to go Dark Side to see it.
Look at the difference in value between a proof-only 1895 Morgan Dollar (mintage 880) and the proof-only 1877 three cent nickel (estimated mintage 900).
Or, for that matter, an 1893-S Morgan (100,000) and an 1856 half cent (40,230).
<< <i>Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?
my imagination tells me that currently it'd be worth right around $100. again, give or take a few dollars. >>
The 1988 is the key date in the $5 GAE series with just a shade under 160,000 examples struck. A quick search on ebay shows that it sells in the $165-$185 range or so. That coin is about 19.9 times more common than the 1998 1/10th panda, give or take a few decimal places.
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<< <i>Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?
Yep. That's the demand side. And you don't even need to go Dark Side to see it.
Look at the difference in value between a proof-only 1895 Morgan Dollar (mintage 880) and the proof-only 1877 three cent nickel (estimated mintage 900).
Or, for that matter, an 1893-S Morgan (100,000) and an 1856 half cent (40,230). >>
A very astute observation and example of supply/demand Zig. Im a firm believer that there are well over 8,000 collectors worldwide of the Chinese gold panda series, with many, many more to come soon (China's booming economy). Of course, thats most likely the reason why it takes 4x melt or better to secure this modern bullion coin I suppose.
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<< <i>So when is a tenth ounce of gold worth $418.99? >>
When it's being sold on eBay, where shill bidding is undetectible.
Where is shill bidding detectable? >>
I said undetectible.
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<< <i>So when is a tenth ounce of gold worth $418.99? >>
When it's being sold on eBay, where shill bidding is undetectible.
Where is shill bidding detectable? >>
I said undetectible. >>
What Jerry is trying to say is that shill bidding goes on in all venues, not just ebay. How can you detect shill bidding on a Heritage, Teletrade, or Stacks auction?
probably in the year 2015.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>What's wrong Gecko, the World Coin Forum not got enough action in it for you?
I have seen box turtles move faster than that "other" forum.
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<< <i>So when is a tenth ounce of gold worth $418.99? >>
When it's being sold on eBay, where shill bidding is undetectible.
Where is shill bidding detectable? >>
I said undetectible. >>
What Jerry is trying to say is that shill bidding goes on in all venues, not just ebay. How can you detect shill bidding on a Heritage, Teletrade, or Stacks auction? >>
How do you tell on the other site? Dunno, who cares. This thread is about an eBay auction not an auction at another site.
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<< <i>So when is a tenth ounce of gold worth $418.99? >>
When it's being sold on eBay, where shill bidding is undetectible.
Where is shill bidding detectable? >>
I said undetectible. >>
What Jerry is trying to say is that shill bidding goes on in all venues, not just ebay. How can you detect shill bidding on a Heritage, Teletrade, or Stacks auction? >>
How do you tell on the other site? Dunno, who cares. This thread is about an eBay auction not an auction at another site. >>
Cladiator.....you said "when its sold on ebay where shill bidding is undetectable". When you make a statement like that, it implies that only ebay has problems with undetectable shill bidding. So Jerry and I both ask....WHERE IS shill bidding more easily detected?