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 Replies: 33 / Views: 26,344 |
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Rest in Peace
United States
9104 Posts |
Quote:
Those who did not trust the government held onto their gold. Now, that is a good lesson for us all. Another thing to consider when talking about a potential modern gubmint gold grab is the general feeling of citizens towards the gubmint. When the original grab happened, people believed whatever the gubmint told them. Heck, they wouldn't even picture FDR in a wheelchair! Today, even the most rabid pro-gubmint person has at least a nagging feeling that maybe we are occasionally getting our chains pulled, and some of the type of people who are holding gold will flat out tell you that anything the gubmint tells you is a steaming pile of  This would make gubmint confiscation of gold about as easy as sex in a hammock. |
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Rest in Peace
United States
9104 Posts |
Quote:
Personally, I don't have a problem with people making gold and silver coin-like medallions as long as they contain the metal and purity that is claimed for them. I guess that others see it differently. I have a problem with sellers using terminology that is either inaccurate or at best misleading. The gubmint calls them golden dollars, which is technically correct, but which immediately becomes gold dollars, which is misleading. What they are is Brass Bucks. Not as impressive sounding, but far more accurate. How about ebay sellers of stuff like copper rounds? They're rounds, bars, perhaps tokens or medals, but they're not coins, and shouldn't be listed in that category. |
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Valued Member
Poland
114 Posts |
Listing tokens, medals, medallions and other numismatic items that are not coins as coins (or pretending that are ones) is surely unfair as "being a coin" adds some value to the item. Some sly guys have found a workaround: it's not too difficult to obtain a permission to release a Palau/ Niue / Liberia coin.  |
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Rest in Peace
United States
9104 Posts |
Serious collectors know to avoid NCLT "coinage" from a few countries as the garbage that it is. At least, as a legal tender issue from a recognized gubmint, they can legitimately be called coins.
No way an ounce round of copper put out by a private mint should be called a coin.
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Bedrock of the Community
Australia
21788 Posts |
OK to collect both. I do. I also cut faceted stones.
With jewelry, often the most valuable component is a gemstone.
Most of us are at least vaguely aware that gemstones are faked as well.
A whole area of science has evolved, known as 'Gemology', which is the detection and identification of gemstones, both fake and genuine. I have quite a few scholarly books on the subject.
Probably the biggest Gem and Mineral Show in the World is held in Tucson Az., every year. It is attended by thousands.
Edited by sel_69l
07/30/2011 12:58 am
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Rest in Peace
United States
9104 Posts |
If you collect gold in the form of jewelry, and are not on the Tiffany level (which is collecting jewelry, not gold), stick to plain gold bands and simple chains. Upon sale, you won't have to try to recover workmanship premiums.
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New Member
Nigeria
2 Posts |
It's actually better to buy coin gold rather than jewelry cold because you don't have to spend on coin gold for polishing and all other maintenance plus coin gold can be remold to other things. It's easier to melt coin gold than jewelry gold. You can check here to learn more about gold investment https://www.pheasantenergy.com/best...est-in-gold/Edited by irishposh
04/05/2021 08:39 am
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Bedrock of the Community
Australia
21788 Posts |
Gold jewelry is re bought at it's net scrap actual gold value just the same as gold bullion coins are.
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Pillar of the Community
 Canada
665 Posts |
Quote:
Gold jewelry is re bought at it's net scrap actual gold value just the same as gold bullion coins are. I tend to find a fairly high discount on Jewelry. Maples, Eagles, Koalas etc. are all 24K (99.99% or better) these days... Jewelry is mostly 9K, 10K or 14K, occasionally 18K or 22K but almost never 24K. The cost to refine out the alloy needs to be factored into the weight and you always see a discount from the actual gold weight that reflects that additional cost. If you are looking for liquidity, coins are easier to convert to currency. |
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Pillar of the Community
Canada
5246 Posts |
My LCS buys jewelry at a significantly lower % of bullion than coins for a number of reasons:
1. He is not registered to sell jewlery, so it all ends up being melted
2. It is riskier to buy. Even testing each piece is not foolproof.
He doesn't pay for gems, since he does not have the knowledge to value them. If the seller wants them, he cuts them out and gives them back to the seller.
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Bedrock of the Community
Australia
21788 Posts |
Looks like a much stronger case is being made for buying bullion coins, rather than gold trinketry at it's gold value.
Buy gold jewelry if your motivation is to do that, (no gemstones included), but from this discussion, it seems gold bullion coins are a much more efficient gold (only) investment.
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Valued Member
Canada
54 Posts |
The only gold jewelry I own is what I find in storage lockers I clear out. I buy gold coins occasionally. God jewelry is consumption while bullion is an investment/store of wealth.
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Pillar of the Community
United States
4333 Posts |
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Maples, Eagles, Koalas etc. are all 24K (99.99% or better) these days... Eagles only 22K (91.67%) to be honest. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
3343 Posts |
I buy odd bits of gold jewelry for their novelty, not for any investment value. I have a small 10K spoon, and a 10K Elks watch fob with an elk tooth. I have sold dental gold and found rings, but for trivial prices, never over $100.
You'll find the same with sterling flatware and plate. The price paid is discounted substantially below coin, even for solid pieces. For non-solid pieces - such as hollow handled knives with stainless blades, and vases with weighted bases - all bets are off. The buyers do better reselling it to collectors if they can. It's an very inexpensive way to fill in missing pieces for a set of tableware. I've built small sets of some classic and modernist patterns, in the same way people assemble coin sets.
Jewelers don't get rich trading in precious metal scrap. They pile it up and occasionally send it to a refiner.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
05/03/2021 10:15 pm
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Pillar of the Community
United States
2004 Posts |
FDR's gold ban allowed people to keep no more than $100 in gold coin. The rest had to be exchanged. I understand that penalties for not complying were severe and enforced although I have no first hand knowledge of this. Those with financial means purchased as much gold as they could and shipped bags of coins to banks in Europe where it remained legal. That is why there are so many unc grade coins still readily available today, because they were being hoarded by those who could afford it. Likewise many people were able to flee the perils of nazi Germany because they had gold usually in the form of jewelry because it was easier to escape with it. If our financial institutions ever collapse like some believe, confiscation will be the least of our worries.
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Posted 05/10/2011 04:38 am
