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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
 Posted - 04/20/2010 : 11:49:49
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Yesterday I was in the local coin shop, and they had a rather large coin in the display case: the size of my palm, and a quarter inch thick. It was a 1974 Bahamas coin... so I jokingly told them I needed it for my birth year set. It is a 12-troy-oz pure gold coin, which had only 200 or so minted. They let me take it out and hold it... I've never held a pound of gold before. They actually quoted a serious price to one of their customers while I was there buying $2 and $3 British coins from them. Turns out, this collector actually specializes in 1909S-vdb cents. Has a dozen, ranging from VG10 to MS65 red. Wow. Anyway, that's another story. But can you imagine owning a one-pound gold coin? I certainly wouldn't ever have it. It cost more than my minivan!
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Come to the new and improved realcent: http://realcent.org
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barrytrot
Administrator
USA
721 Posts |
Posted - 04/20/2010 : 12:11:51
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Am I the only one that is steamed up about the "12 ounce troy pound". Why on earth do we have to remember that?
Anyway, I'm guessing this large "coin" was about 2x spot or more.
Why would anyone waste money on something that has maybe a couple dozen buyers out there world wide? If you want to buy "expensive gold" get an old "Gold Indian" or something where there are thousands of potential buyers. Or if you just want a "pound" (ARGH!!) of gold, buy 12 maple leaves and save yourself $12,000 off the price of this thing and have access to instantaneous sale-for-spot (or more) nearly anywhere in the world. |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 04/20/2010 : 12:14:58
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| i want that gold mickey from the Coin show! Or perhaps the canadian 1million dollar gold coin. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 04/20/2010 : 13:09:27
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quote:
Originally posted by barrytrot I'm guessing this large "coin" was about 2x spot or more.
Not so fast, Barry. I just did the math, using today's gold price and the quote they gave the customer. They were asking 4.5% over spot!!! |
Come to the new and improved realcent: http://realcent.org
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barrytrot
Administrator
USA
721 Posts |
Posted - 04/20/2010 : 13:25:09
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Hm, that's still higher than an Eagle or Maple, but reasonable for "cool factor" I suppose.
In either case I'm still anti-"12-ounce pound". ;) |
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rodebaugh
Penny Collector Member
USA
377 Posts |
Posted - 04/20/2010 : 13:35:48
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JobIII, I also want gold Mickey. Gold Mickey puts a smile on everybody’s face.
Maybe even the infamous Sadam gold toilet. Never have to worry about leaving the lid up again because you I can't lift it in the first place!
Rodebaugh
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http://rodebaugh.ecrater.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 04/20/2010 : 13:48:58
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quote:
Originally posted by rodebaugh
JobIII, I also want gold Mickey. Gold Mickey puts a smile on everybody’s face.
Maybe even the infamous Sadam gold toilet. Never have to worry about leaving the lid up again because you I can't lift it in the first place!
Rodebaugh
Is that why they call gold the yellow metal? Or is it just us peons that think so?  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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rodebaugh
Penny Collector Member
USA
377 Posts |
Posted - 04/20/2010 : 14:01:19
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quote:
Originally posted by beauanderos
quote:
Originally posted by rodebaugh
JobIII, I also want gold Mickey. Gold Mickey puts a smile on everybody’s face.
Maybe even the infamous Sadam gold toilet. Never have to worry about leaving the lid up again because you I can't lift it in the first place!
Rodebaugh
Is that why they call gold the yellow metal? Or is it just us peons pee-ons that think so?
defently us pee-ons! |
http://rodebaugh.ecrater.com/ |
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JWRAY
Penny Collector Member
USA
378 Posts |
Posted - 04/20/2010 : 21:32:58
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| My guess is they bought it for DIRT Cheap in comparison to its worth, considering the inherent risk with a coin like that. |
MOVING SALE!!! Selling Copper Cents 1.4 shipped - in limited quantities PM me and we'll talk. |
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POUND of gold!!!
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