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 Replies: 26 / Views: 2,764 |
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Pillar of the Community
United States
5856 Posts |
When gold dipped into the sub $1500 range last week I decided to purchase my first gold purely for bullion purposes (I already own a small number of numismatic gold for my 7070 album). I opted to go with Krugerrands since (a) for years they were the gold bullion coin that was used world-wide and (b) Goldmart had them for only $27.99 over spot. I pulled the trigger when gold was at about $1562 and paid about $7950 for five of them (shipping was free):  I'm wondering whether the low premium has something to do with Apartheid in South Africa and perhaps these simply aren't a desirable as other bullion coins these days, but I figured gold is gold... I don't expect to buy much more gold (a bit too rich for my blood and I honestly think silver has more long-term investment potential), but at least now I have some. |
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Valued Member
Canada
178 Posts |
Very nice, and yes gold is gold. Krugerrands will always be recognized.
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Pillar of the Community
United States
1620 Posts |
Wow they are really nice coins
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Pillar of the Community
United States
1454 Posts |
I wonder if they're real?
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Pillar of the Community
 United States
5856 Posts |
They're certainly heavy enough to be real. And that's why I bought them from a reputable dealer instead of ebay... |
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Pillar of the Community
United States
1454 Posts |
I was just kidding, Baarryg. I'm sure they're real. I just saw all that delicious gold and was immediately overcome with jealously.
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Pillar of the Community
United States
5856 Posts |
Well, just to be sure, I just weighed one and it came in at 34.0 grams (which is right where it should be).
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Pillar of the Community
1283 Posts |
You will get 98% of spot for the Krugers from most dealers as opposed to 105% for eagles. At least thats what my guy pays.
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Pillar of the Community
United States
5856 Posts |
Your guy actually pays 105% of spot for eagles? That's amazing! I'd be surprised to get 90% of spot from any dealer around here.
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Pillar of the Community
614 Posts |
Sometimes, I wish I could turn all my silver into gold (50 oz).
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Pillar of the Community
United States
808 Posts |
Very very nice barryg! Great purchase price, too!
I suppose the Apartheid years might still linger in the minds of some. Those bad days are in the past, though. I suspect the more likely reason for the low premium is the sheer number of coins in circulation.
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Pillar of the Community
United States
3670 Posts |
Never a bad idea to add that much gold right now, as I think this is one that is gonna pay off quick for ya as I see gold at 1800 to 2000 still yet this year....
Question is if it flirts with 2 grand you gonna dump them quick or hold out?
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Pillar of the Community
United States
5856 Posts |
This is definitely a long-term purchase. I am not a flipper.
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Pillar of the Community
United States
648 Posts |
5 ozs in one sweep? Dang, Barry I like your PM-style  Gorgeous acquisition. Keep the PM show-n-tells coming.   |
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Pillar of the Community
United States
5854 Posts |
Nice haul! I remember talking to Gainsville coins up at the Nashua, NH show about two months ago and they said they were paying spot+$10 for pamp or credit suisse 1oz gold bars. I didn't ask them about AGE's but I would guess they are paying something similar. 90% of spot just seems a bit low to me.
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Pillar of the Community
1283 Posts |
Man barry, I'll give you more then 90% of spot no matter what or when it is. At the monthly Swap Meet which is this weekend I have a guy that will $40 over for as many gold eagles as you can carry, and the great part is they pay cash. I wish I would have known you were in the market I have a half dozen gold eagles I am probably gonna sell off for some more silver weight. Oh well next time shoot me an email if you want a good deal.
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Replies: 26 / Views: 2,764 |
Posted 05/18/2012 3:04 pm
