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 Replies: 24 / Views: 5,142 |
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Moderator
 United States
14463 Posts |
I was looking on PropertyRoom.com for lots of different items to bid on, when I ran across bids for a gold bar that were getting crazy high. I put the auction on my watch list just to see how crazy it became. The auction was for a gold bar for 5 grains. I typed correctly, 5 grains with a current spot price of $19.71 USD. The final hammer price was not $50, not $90, and not $100. For a gold bar worth less than $20 spot, the final hammer price was $175.00  |
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Rest in Peace
United States
9104 Posts |
For which they could almost have bought a tenth.
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Pillar of the Community
United States
1150 Posts |
That must be one beautiful 5 gram bar!
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Moderator
 United States
14463 Posts |
mitchhailey, not 5 gram bar, it was 5 grains. about one third of a gram.
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Valued Member
United States
112 Posts |
just goes to show: "a fool and his money are soon parted"
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Moderator
United States
14463 Posts |
I see that a 1 gram gold bar went for only $302.00 + $7.95 shipping (spot value of $55.47)  And I see a 1 grain gold bar went for only $52.01 + $7.95 shipping (spot value of $3.94) Shipping alone was over twice what the bar was worth. |
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Valued Member
Sweden
71 Posts |
Quote:
I see that a 1 gram gold bar went for only $302.00 + $7.95 shipping (spot value of $55.47)
And I see a 1 grain gold bar went for only $52.01 + $7.95 shipping (spot value of $3.94) Shipping alone was over twice what the bar was worth How big is one GRAM gold bar? And how big is one GRAIN gold bar? |
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Moderator
United States
14463 Posts |
Quote:
alimngbd,
How big is one GRAM gold bar?
And how big is one GRAIN gold bar? a 1 gram bar is about 8.5 mm x 15.5 mm and about as thick as 2 sheets of paper a 1 grain bar is about 1/15 of a gram, or around 2mm x 4 mm |
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Bedrock of the Community
United States
14454 Posts |
yeah I look at some of those things also and they allways bring stupid money on everything. I think its crazy what some people bid some of those things up to especially with the high shipping they charge on top of the actual price
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Rest in Peace
United States
10625 Posts |
Wow! That is crazy....There must be some confused people out there. These are probably the people who buy the gold (plated)state quarters too.
Edited by dave700x
02/13/2012 2:01 pm
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Rest in Peace
United States
9104 Posts |
Quote:
And how big is one GRAIN gold bar? Don't sneeze. |
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Rest in Peace
United States
9104 Posts |
Property auctions and goodwill auctions almost always bring ridiculous prices. People seem to think if the cops stole confiscated it, it must be valuable.
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Moderator
United States
14463 Posts |
On those sights (that's where I am getting the $ numbers), gold coins and bars usually go for 3x-10x spot. However, silver coins and bars might go 2x spot.
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Moderator
United States
14463 Posts |
Quote:
RARE 2007 1/25 Troy Oz. .999 Pure Gold 25th Anniversary Panda Proof - 15 Yuan - 1999 - Only 18,000 Minted Spot is $69.37 Closed at $517.00 It might be rare, just like the other three listed over the next day. Quote:
1838 United States Five $5 Half Eagle Gold Coin Spot $433.58 Closed at $1502.00 Looked like it had an old cleaning to me, but still |
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Moderator
United States
14463 Posts |
Quote:
1853 $1 Gold Liberty Spot is $89.21 Closed at $904.99 It might be rare, but that much premium for a raw coin. Edited by Fuzzy317
04/06/2012 9:46 pm
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Moderator
United States
14463 Posts |
wasn't too bad Quote:
GEM BU 2000 $5 Gold Eagle - Contains 3.11 Grams of Gold Spot is $163.20 Closed at $500.00 |
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Replies: 24 / Views: 5,142 |
Posted 02/11/2012 03:15 am
