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.9999 Gold Shot

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New Member

United States
4 Posts
 Posted 05/17/2014  01:47 am Show Profile   Bookmark this topic Add yfrank14 to your friends list Get a Link to this Message Number of Subscribers
I saw .9999 Gold Shot for sale at APMEX. they said it was not intended for investing or trading.
anyone know why?
I mean, if I sell it, they will just scrap it like an old badly damaged coin, wont they? so why cant it be traded?
wont it always be worth spot price?
Bedrock of the Community
BH1964's Avatar
United States
10982 Posts
 Posted 05/17/2014  02:52 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
There is no assay of fineness to third party purchasers, no hallmarks, no traceability to manufacturer, etc. You don't get spot price when selling scrap. This means that even though it's .999 fine (or whatever it is), there's no way to verify the purity downstream without an assay and thus no way to sell it for spot.

Now if gold prices were to sky-rocket then you could make some money selling below spot price. That's a big risk.

ANA #R3154474
Edited by BH1964
05/17/2014 02:53 am
New Member
United States
4 Posts
 Posted 05/17/2014  12:46 pm  Show Profile   Bookmark this reply Add yfrank14 to your friends list Get a Link to this Reply
thanks, glad I asked.
they cant just do a simple test to determine purity?
on the TV pawn shows, they just scratch the back of the Rolex's and put a drop of a chemical on it.
they also cut bars they are uncertain of in half, to see if they are gold all the way through.
you said I wouldnt get spot, but how close to spot would I get ?
New Member
United States
4 Posts
 Posted 05/17/2014  12:47 pm  Show Profile   Bookmark this reply Add yfrank14 to your friends list Get a Link to this Reply
i just went back and looked, no "buy" price.
even APMEX does not want it.
guess it is not a good idea.
New Member
ok88beat's Avatar
United States
37 Posts
 Posted 05/17/2014  1:10 pm  Show Profile   Bookmark this reply Add ok88beat to your friends list Get a Link to this Reply
This is my first post but I have been reading most of the posts on here for 6 monthes or so, but I belive this product is inteneded to be sold to jewelers or people whole want to create pieces of jewelry or expierment with melting, I know glass blowers like to use this type of gold to make trippy colors in their art. If you were to resell it to a company that purchaes scrap then they would most likely purchase this @ 22k to be on the safe side.
New Member
United States
4 Posts
 Posted 05/17/2014  2:52 pm  Show Profile   Bookmark this reply Add yfrank14 to your friends list Get a Link to this Reply
yes, ok88beat, they list it as not for investment or trading, only for industrial use.
I thought gold was gold.
the only difference being coins and bars are worth more then scrap.
like I said, glad I asked.
Valued Member
Stylez's Avatar
United States
131 Posts
 Posted 06/13/2014  01:02 am  Show Profile   Bookmark this reply Add Stylez to your friends list Get a Link to this Reply
Gold and silver shot are used to bring the purity of smelted metals up... if you smelt a bunch of 14k rings you add shot to it so that the gold content raises higher than 14k and be worth more.. hope this helps clear up exactly what it is and does... PEACE...
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