How about the price of GOLD

[schoolboy]

Hi guys, I know nothing about buying gold or silver coins....

But right now that gold is at a little over $1900 an ounce, can you actually sell at that price?

Or is that just a suggested price or whatever

For example, the market value for a Rolex 126710 BLRO is about $18,000

But I assume if you have a brand new one and try to sell to a grey dealer, they don’t actually pay the $18,000 because they have to make money too.


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[Yzord]

[BreguetRolex]

tossing in some gold to the equation as well here...

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[slimboy1974]

Originally Posted by schoolboy

Hi guys, I know nothing about buying gold or silver coins....

But right now that gold is at a little over $1900 an ounce, can you actually sell at that price?

Or is that just a suggested price or whatever

For example, the market value for a Rolex 126710 BLRO is about $18,000

But I assume if you have a brand new one and try to sell to a grey dealer, they don’t actually pay the $18,000 because they have to make money too.


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Yeah good question I’ve never bought gold but seems like a sound investment if you do get the market price?

[schoolboy]

Originally Posted by slimboy1974

Yeah good question I’ve never bought gold but seems like a sound investment if you do get the market price?

Seems like it

That’s why I’m asking :D


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[Xelorpepsi]

Originally Posted by schoolboy

Hi guys, I know nothing about buying gold or silver coins....

But right now that gold is at a little over $1900 an ounce, can you actually sell at that price?

Or is that just a suggested price or whatever

For example, the market value for a Rolex 126710 BLRO is about $18,000

But I assume if you have a brand new one and try to sell to a grey dealer, they don’t actually pay the $18,000 because they have to make money too.


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Short answer is yes minus transaction fees

[bonsai-man]

While good gains can be had from scrap and bullion gold, what about PM Rolex and watches. With the huge retail (designer label) markup is it possible to get a good return, even pre-owned?

[Fleetlord]

Originally Posted by bonsai-man

While good gains can be had from scrap and bullion gold, what about PM Rolex and watches. With the huge retail (designer label) markup is it possible to get a good return, even pre-owned?

Gold would have to be > $8,000 an ounce for melt value of a new gold Rolex to exceed it's retail.

Currently 18KT is $45.00 per gram.

Gold Daytona is about 200grams of gold = roughly $9,000.00 melt.

So, 18kt would need to be $180.00 a gram to get close to retail.

Maybe some of the old DD on stretched bracelet in terrible shape would have a shot at melt exceeding horological value...but that would take more gains as well.

[schoolboy]

Originally Posted by Xelorpepsi

Short answer is yes minus transaction fees

Holy smokes

I was not aware of that.

Thank you


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[pickettt]

Originally Posted by enjoythemusic

True, yet I have trillions in Zimbabwe money. US Dollar heading that way, so guess it depends on what $4500 USD buys. I remember when a candy bar was 20 cents, McD happy meal was less than a buck. Homes were........ you get the idea.

If the stock market goes up 333%, yet the underlining currency has only 1/3rd the value it once was... did you 'make profit'? This is something that 'trips up' newbies about market 'valuation' and how the market "goes up" in face of declining currency valuation.

A great number of folks are about to be "tripped up."

[Etschell]

gold is decentralized currency controlled by centralized banks. it's not really a valid source of monetary base any longer.

[pickettt]

Originally Posted by Etschell

gold is decentralized currency controlled by centralized banks. it's not really a valid source of monetary base any longer.

We’re about to find out.

[Superburrito]

Interesting how many people forget that at one time a US president ordered confiscation of nearly all the privately held gold in the US. See Executive Order 6102.

"Executive Order 6102 required all persons to deliver on or before May 1, 1933 all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $408 in 2019)[5] per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, a violation of the order was punishable by fine up to $10,000,(equivalent to $198,000 in 2019)[5] up to ten years in prison, or both."

[pickettt]

Originally Posted by Superburrito

Interesting how many people forget that at one time a US president ordered confiscation of nearly all the privately held gold in the US. See Executive Order 6102.

I'd say those in the gold game are keenly aware of the government confiscation.

[BreguetRolex]

Looks like since I bought this 3 years ago the price has gone up about $5000.00.
Not sure if gold price or demand..?

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[mic6]

My 400 grams of solid red gold

[htrap2294]

Glad I got this:

[Fleetlord]

I wonder how liquid big bars of gold are as their value rises?

I heard that some heavy silver bars (100oz..etc) become less and less liquid as value rises, as the purchasing dealers fear the resale market shrinks due to the high cost. So they just pass on them and stick with smaller amounts.

[htrap2294]

Originally Posted by Fleetlord

I wonder how liquid big bars of gold are as their value rises?

I heard that some heavy silver bars (100oz..etc) become less and less liquid as value rises, as the purchasing dealers fear the resale market shrinks due to the high cost. So they just pass on them and stick with smaller amounts.

I get offered around 10-15% less than I would per oz. I wouldn't sell it though, so liquidity is not a problem.

[pickettt]

Originally Posted by htrap2294

Glad I got this:

Nice.

[htrap2294]

Originally Posted by pickettt

Nice.

Thank you, sir!

[Proof Morgan]

Originally Posted by Fleetlord

I wonder how liquid big bars of gold are as their value rises?

I heard that some heavy silver bars (100oz..etc) become less and less liquid as value rises, as the purchasing dealers fear the resale market shrinks due to the high cost. So they just pass on them and stick with smaller amounts.

This is true. In general you want smaller weights or denominations for resale. This allows you to have more options of who you sell to. These are easier to buy and sell. The problem though if you buy, the premium is higher than larger sizes.

Stick to name brands.(Engelhard, JM, Pamp Suisse, Credit Suisse, etc.) Popular Mints. (US. Mint, Royal Mint, Perth Mint and Royal Canadian Mint and 90% silver US coins.

[RW16610]

Originally Posted by mic6

My 400 grams of solid red gold

Ah, I'm a sucker for an Omega Chronograph, especially in 18K gold! Very nice piece there

[RBradleigh]

Originally Posted by schoolboy

Hi guys, I know nothing about buying gold or silver coins....

But right now that gold is at a little over $1900 an ounce, can you actually sell at that price?

Or is that just a suggested price or whatever

For example, the market value for a Rolex 126710 BLRO is about $18,000

But I assume if you have a brand new one and try to sell to a grey dealer, they don’t actually pay the $18,000 because they have to make money too.


Sent from my iPhone using Tapatalk

Yes, most coin shops will pay spot. As an example I recently sold a couple of 1 oz krugerrand and was paid at the time spot of $1807 per coin.

A month ago I sold a US Buffalo gold coin and was paid $25 above spot ~ $1725

If you were to go to ebay though and try buying a coin yourself though, you’ll likely have to pay $100 or more above spot.

[slimboy1974]

Originally Posted by htrap2294

Glad I got this:

Ooooft I bought some coins on the back of this thread but makes it look like chump change compared to that beauty!! That looks great gold finger

[schoolboy]

Originally Posted by RBradleigh

Yes, most coin shops will pay spot. As an example I recently sold a couple of 1 oz krugerrand and was paid at the time spot of $1807 per coin.

A month ago I sold a US Buffalo gold coin and was paid $25 above spot ~ $1725

If you were to go to ebay though and try buying a coin yourself though, you’ll likely have to pay $100 or more above spot.

Awesome, thank you for that.


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[Drdubzz]

I'm happy to bought all my gold a few months ago. Not looking to sell as I don't need to, but maybe my wife will stop giving me grief

[htrap2294]

Originally Posted by slimboy1974

Ooooft I bought some coins on the back of this thread but makes it look like chump change compared to that beauty!! That looks great gold finger

I'm sure the coins are still worth a pretty penny! Having some gold is better than having none. :D

[BreguetRolex]

BB61E49F-2D26-4523-9B10-E510AB13DF92.jpegGold just upped over the top of 2000.00 little while ago.. Don't think I ever seen it this high..

[htrap2294]

Indians love their gold... And 22-24K only!

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