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Posted on 10/12/09 at 7:35 am to LSURussian
Posted on 10/12/09 at 9:18 am to Joe Joe Joe
a krugerrand is alot different from an ounce of gold value wise, I would hang onto it
Posted on 10/12/09 at 12:01 pm to Joe Joe Joe
If you want the money today, you should be able to walk into a coin shop and they'll buy it.
Krugerrands typically are valued for their gold content and not as a collectable coin. Coin dealers will buy them back at a price based on the spot market so it will change day to day. I don't recall their typical price off of the spot price but lately buying gold cost about $100/ounce (pretty hefty premium) so I it might be that going the other way. Last I checked (A few months ago) they were having trouble keeping them in stock so they might be less of a premium to sell it them.
Krugerrands typically are valued for their gold content and not as a collectable coin. Coin dealers will buy them back at a price based on the spot market so it will change day to day. I don't recall their typical price off of the spot price but lately buying gold cost about $100/ounce (pretty hefty premium) so I it might be that going the other way. Last I checked (A few months ago) they were having trouble keeping them in stock so they might be less of a premium to sell it them.
Posted on 10/12/09 at 12:05 pm to Lord Nelson
quote:
a krugerrand is alot different
Not the one's which I familiar. Unless there are collectable coins I'm not aware of which could very well be the case), I've priced them and they were cheaper than the American Eagle.
Posted on 10/12/09 at 12:36 pm to Tiger4
quote:
I dont see why someone would say its over priced. SUpply and demand should debunk that.
Because demand has been dramatically increased by adds on TV.
How often do you see commercials for buying stocks of Goldman Sachs on TV where they advertise that "they have never been worth nothing". It's a true statement, but just as retarded as the gold statement. The same can be said about scrap metal.
As far as China buying gold, they are also lending tons of money to the US and nobody can figure out that one either. They aren't exactly kings of modern economics.
Posted on 10/12/09 at 12:55 pm to CajunTiger92
quote:
Krugerrands typically are valued for their gold content and not as a collectable coin. Coin dealers will buy them back at a price based on the spot market so it will change day to day. I don't recall their typical price off of the spot price but lately buying gold cost about $100/ounce (pretty hefty premium) so I it might be that going the other way. Last I checked (A few months ago) they were having trouble keeping them in stock so they might be less of a premium to sell it them.
So you would suggest I sell it? It was given to me as a graduation gift (generally receive cash for important gift), with the intention that I would sell it at some point.
Appreciate all the posts regarding this matter.
Posted on 10/12/09 at 1:19 pm to TheHiddenFlask
quote:WHo cares; if there is a demand for it then the price is justified.
Because demand has been dramatically increased by adds on TV.
How often do you see commercials for buying stocks of Goldman Sachs on TV where they advertise that "they have never been worth nothing". It's a true statement, but just as retarded as the gold statement. The same can be said about scrap metal.
Posted on 10/12/09 at 1:21 pm to Tiger4
quote:Greater Fool Theory
WHo cares; if there is a demand for it then the price is justified.
Posted on 10/12/09 at 1:22 pm to LSURussian
quote:I guess you would want a price cap/
Greater Fool Theory
Posted on 10/12/09 at 1:24 pm to Tiger4
You guess wrong....
Posted on 10/12/09 at 2:14 pm to LSURussian
quote:
WHo cares; if there is a demand for it then the price is justified
Very ECON 101...
There are a BAJILLION things that artificially effect market price that have NOTHING to do with demand...
The more pieces of paper you have with your name on it the more lines they add to the S&D graph...
Here is one view about the price of Gold from a regular poster
FWIW, I imagine these German cougar statues or whatever y'all are talking about HAVE to be worth more then $1,000...
This post was edited on 10/12/09 at 2:17 pm
Posted on 10/12/09 at 8:31 pm to Tiger4
quote:
WHo cares; if there is a demand for it then the price is justified.
You must have missed that whole "long run" part of economics.
Posted on 10/12/09 at 8:39 pm to Joe Joe Joe
quote:
Appreciate all the posts regarding this matter.
Are you declining my offer? yes fiat currency.
Posted on 10/12/09 at 9:37 pm to Joe Joe Joe
Whether to sell and how to sell are two entirely different questions.
But to answer your question, frankly it depends. The decision to sell it really depends on several factors (do you need the money, what will you do with the money, what do you think the economy is doing, etc.).
As you may be aware, there are two schools of thought concerning commodities (gold in particular): 1) Gold is a bubble waiting to pop and 2) gold will go well beyond the $1000/ounce level.
I see the merits of both arguements but at the moment think the odds are more in favor of No.2.
If you decide to sell but don't really need the money, I'd suggest using the money to buy something specific that: 1) is something you like; 2) is something you normally wouldn't spend money on; and 3) reminds you of the person that gave the gift or the event for which it was given.
It could be something like an antique collectible dealing with your profession, artwork, antique furniture, etc. Or if you are less sentimental and more practical, you could go to Vegas and blow it on booze, gambling and generally having a good time.
But to answer your question, frankly it depends. The decision to sell it really depends on several factors (do you need the money, what will you do with the money, what do you think the economy is doing, etc.).
As you may be aware, there are two schools of thought concerning commodities (gold in particular): 1) Gold is a bubble waiting to pop and 2) gold will go well beyond the $1000/ounce level.
I see the merits of both arguements but at the moment think the odds are more in favor of No.2.
If you decide to sell but don't really need the money, I'd suggest using the money to buy something specific that: 1) is something you like; 2) is something you normally wouldn't spend money on; and 3) reminds you of the person that gave the gift or the event for which it was given.
It could be something like an antique collectible dealing with your profession, artwork, antique furniture, etc. Or if you are less sentimental and more practical, you could go to Vegas and blow it on booze, gambling and generally having a good time.
Posted on 10/12/09 at 10:15 pm to TheHiddenFlask
quote:What does the long run have to do with golds demand now?
You must have missed that whole "long run" part of economics.
IN the long run the dollar has lost 95% of its purchaseing power.
Posted on 10/13/09 at 6:17 am to Tiger4
quote:Please explain what you mean by this.
IN the long run the dollar has lost 95% of its purchaseing power.
Do you mean the price of goods and services has gone up 95% while wages and salaries have remained the same during the same time period.
If prices have gone up and wages and salaries have gone up more, doesn't that mean the standard of living has improved?
I'd like to hear your insight on what you meant. TIA.
This post was edited on 10/13/09 at 7:45 am
Posted on 10/13/09 at 8:58 am to LSURussian
Jumping to conclusions based on his avatar...
Ron Paul believes in a "gold" standard system...if that's what this guy believes...this is a lost cause
Ron Paul believes in a "gold" standard system...if that's what this guy believes...this is a lost cause
Posted on 10/13/09 at 9:01 am to BaylorTiger
quote:I agree. I just enjoy hearing one of the RP cult members trying to describe what they think RP thinks.
Ron Paul believes in a "gold" standard system...if that's what this guy believes...this is a lost cause
Posted on 10/13/09 at 11:09 am to LSURussian
quote:
I agree. I just enjoy hearing one of the RP cult members trying to describe what they think RP thinks.
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