dietcolaaddict Posted June 26, 2010 Report Share Posted June 26, 2010 How to buy your physical coins at spot price...... 16 STONES of precious metal: World's biggest gold coin sold at auction for £2.68m There were no counter offers in an auction room packed with more journalists than potential buyers. It sold for the catalogue sum, the coin's pure gold value based on Friday's market price. http://www.dailymail.co.uk/news/worldnews/...tion-2-68m.html Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 26, 2010 Author Report Share Posted June 26, 2010 There were no counter offers... Must have been cg, because I wasn't there. Seriously, I wonder who bought it. Because it is somewhat awkward to transport, and the design is maybe not worth having it in that large. EDIT: Oh, there we go: A Spanish precious metals trading company... EDIT2: BTW, the weight of that coin is not some rubbish like 16 stone or 220lbs as indicated in the article. It is beautiful 100,000.00 Gramm, or 100.00000 kg. Metric system. What else? Here is how it's been made: From: Link to comment Share on other sites More sharing options...
nicejim Posted June 26, 2010 Report Share Posted June 26, 2010 A 100.00000kg gold coin is fine, but if you want to buy a bag of chips with it you'd better hope the chippy has a 99.9999627kg coin for change! Link to comment Share on other sites More sharing options...
azazel Posted June 26, 2010 Report Share Posted June 26, 2010 The design is ok on the 1 ounce version but a bit ugly for the 100kg size. I like the maple leaf design but not the portrait of the queen. It needs more detail on a coin of that size. If anyone is after some gold coins, this guy is selling some cheaper than CID. For example, 1/2 sovereign at CID is £110 + P&P. ebay seller is £105 incl. P&P special delivery. Offer £100 on a 1/2 sov and the counter offer is £105. http://shop.ebay.co.uk/mr-independant-jewe...m=&_ipg=200 They look like they have been in rings though. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted June 27, 2010 Report Share Posted June 27, 2010 ... it is somewhat awkward to transport, and the design is maybe not worth having it in that large. Yes, its clearly a novelty piece, perhaps for a (rich) company HQ, a (rich) private investor etc.. If I had that much to spend on Gold, I'd just want good delivery bars and nothing any more unusual or that attracts attention. Is there any CGT advantage to it having a monetary value and a Queen's head on the coin? Probably not, I'm thinking, as the face value is in dollars (itself strange for a coin with the Queen's head). I suspect to a taxman, this is not officially a coin - it's just a block of gold cast into the shape of a coin. Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 27, 2010 Author Report Share Posted June 27, 2010 Probably not, I'm thinking, as the face value is in dollars (itself strange for a coin with the Queen's head). CAD. EDIT: BTW, it looks massive, but it is only 3 cm thick. Link to comment Share on other sites More sharing options...
electroweak Posted June 27, 2010 Report Share Posted June 27, 2010 Just reading something amazing today, from Thoughts of ANOTHER...(bear in mind, gold was valued at $300/oz when this was written!) http://www.usagold.com/goldtrail/archives/another1.html Oct 19 1997: It is easy to know that gold could not have been traded for all oil sold. This was never the intent. They only wanted to pull a small amount out of circulation on a regular basis. Using a small amount of oil as a partial trading vehicle gold could be purchased in an all paper deal to hide it's price. As I said before, if they walked up to the plate and started buying outright it would run the price. It is working. They only need 200 million ozs. When the system breaks that gold would be worth all the oil in Arabia and then some. Well, I just checked and Saudi's oil reserves (Wikipedia, 2008, dubious anyhow) are stated as 267,000,000,000 barrels. Now if 'they only need 200 million ozs' - that would put the gold at about ~1335 barrels per ounce... holy cow! In perspective, 200m ounces is 200E6/(32.15x1000) tonnes (= 6200 tonnes) - comparable to alleged US gold reserves. Link to comment Share on other sites More sharing options...
drbubb Posted June 27, 2010 Report Share Posted June 27, 2010 How to buy your physical coins at spot price...... 16 STONES of precious metal: World's biggest gold coin sold at auction for £2.68m http://www.dailymail.co.uk/news/worldnews/...tion-2-68m.html Wow. That's great. Not exactly a discrete investment, is it? Link to comment Share on other sites More sharing options...
rpitwood Posted June 27, 2010 Report Share Posted June 27, 2010 Wow. That's great. Not exactly a discrete investment, is it? Very discrete, perhaps not too discreet. Link to comment Share on other sites More sharing options...
pjohnp Posted June 27, 2010 Report Share Posted June 27, 2010 Very discrete, perhaps not too discreet. Neither discrete (it's one big coin) nor discreet (it's all over the newspapers). Link to comment Share on other sites More sharing options...
Crashman begins Posted June 27, 2010 Report Share Posted June 27, 2010 Just reading something amazing today, from Thoughts of ANOTHER...(bear in mind, gold was valued at $300/oz when this was written!) http://www.usagold.com/goldtrail/archives/another1.html Well, I just checked and Saudi's oil reserves (Wikipedia, 2008, dubious anyhow) are stated as 267,000,000,000 barrels. Now if 'they only need 200 million ozs' - that would put the gold at about ~1335 barrels per ounce... holy cow! In perspective, 200m ounces is 200E6/(32.15x1000) tonnes (= 6200 tonnes) - comparable to alleged US gold reserves. Been reading Another for the last couple days, amazing stuff & makes sense... What prevented this shortage from happening sooner... or is it all going as predicted , or can you not put a specific time on such things ? Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 27, 2010 Author Report Share Posted June 27, 2010 What prevented this shortage from happening sooner... or is it all going as predicted , or can you not put a specific time on such things ? Now that everything is global, including the collusion of the central banks, it all takes muuuch longer. This is the main thing that I have learned during this crisis. Except for that, it unravels essentially in Austrian textbook style. Link to comment Share on other sites More sharing options...
BlackPepper Posted June 27, 2010 Report Share Posted June 27, 2010 Below is an article suggesting that Gold is in bubble territory. I agree http://www.smh.com.au/business/gold-price-...00628-zca1.html Gold price a bubble waiting to pop June 28, 2010 - 6:25AM Want a bubble to worry about? According to Macquarie Bank interest rate strategist Rory Robertson, forget Australian house prices and US Treasuries, it's gold that looks due for a pop. Fresh from winning his bet on Australian housing prices, Robertson is taking on a much more rabid bunch in the gold bug faithful - a broad church that ranges from the inflation-fearful to the Armageddon brigade forecasting the end of civilisation as we know it. But Robertson argues that most people now betting on gold going up are doing so just because gold has gone up - the very stuff of bubbles. Rather than worrying about US Treasuries or Australian house prices (he doesn't see a bubble in either of those assets for fundamental reasons), punters should be sceptical of gold around US$1,250 per ounce, almost quintuple its early 2001 price of US$260. Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted June 27, 2010 Report Share Posted June 27, 2010 Below is an article suggesting that Gold is in bubble territory. I agree http://www.smh.com.au/business/gold-price-...00628-zca1.html Gold price a bubble waiting to pop June 28, 2010 - 6:25AM Want a bubble to worry about? According to Macquarie Bank interest rate strategist Rory Robertson, forget Australian house prices and US Treasuries, it's gold that looks due for a pop. Fresh from winning his bet on Australian housing prices, Robertson is taking on a much more rabid bunch in the gold bug faithful - a broad church that ranges from the inflation-fearful to the Armageddon brigade forecasting the end of civilisation as we know it. But Robertson argues that most people now betting on gold going up are doing so just because gold has gone up - the very stuff of bubbles. Rather than worrying about US Treasuries or Australian house prices (he doesn't see a bubble in either of those assets for fundamental reasons), punters should be sceptical of gold around US$1,250 per ounce, almost quintuple its early 2001 price of US$260. and like most deflationists he is very careful to qualify his predictions. he goes on to say (from above link): ... the price of gold over time could jump to multiples of its current elevated price ... A collapse of the US$ or of the global system of ''fiat'' (paper) money - both rather unlikely events, in my opinion - would drive the gold price much higher ... Robertson admits one has to be careful about bagging gold bugs because for a decade they have been right - gold has been a standout performer. ... Link to comment Share on other sites More sharing options...
LauraB Posted June 28, 2010 Report Share Posted June 28, 2010 Below is an article suggesting that Gold is in bubble territory. I agree http://www.smh.com.au/business/gold-price-...00628-zca1.html But Robertson argues that most people now betting on gold going up are doing so just because gold has gone up - the very stuff of bubbles. Spoken to "most people" & asked them has he? - Busy boy! Link to comment Share on other sites More sharing options...
romans holiday Posted June 28, 2010 Report Share Posted June 28, 2010 Spoken to "most people" & asked them has he? - Busy boy! "Most people" is besides the point. Most CBs are now buying, the rationale being to diversify some of their reserves into gold. When most investors get this, they will be doing the same. Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 28, 2010 Author Report Share Posted June 28, 2010 Below is an article suggesting that Gold is in bubble territory. I agree Link to comment Share on other sites More sharing options...
Errol Posted June 28, 2010 Report Share Posted June 28, 2010 Is gold in a bubble? - http://www.caseyresearch.com/editorial/347...f=GLD178ED0610D (no). Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 28, 2010 Author Report Share Posted June 28, 2010 I'll be so p1$$ed off if gold goes over $1,650 before I get my gold SIPP. Link to comment Share on other sites More sharing options...
50sQuiff Posted June 28, 2010 Report Share Posted June 28, 2010 Spoken to "most people" & asked them has he? - Busy boy! One thing I've learned in the past couple of years following the bear pundits much beloved on HPC and GEI, is that they're very smart guys who see things happening far down the line very accurately. But - apparently unable to contain or control their insight - they're always horribly early on their timing. They're always of an anti-government bent, and underestimate the ability of monetary authorities to postpone an inevitable crisis. Smart guys like Schiff were calling the housing bubble, 4 years before it was about to become the biggest mania of all time. Prechter was calling this deflationary depression to a tee (gold notwithstanding), 5 years too early. People are calling the gold bubble, probably 4-5 years before it reaches its climax as the biggest bull market in history. Link to comment Share on other sites More sharing options...
romans holiday Posted June 28, 2010 Report Share Posted June 28, 2010 So austerity it is. That means the government won't be printing right? Ergo no inflation right?. But then the economy might suffer... and the currency with it. Does that mean capital flight to the centre? Hell, who knows...too many unknowable unknowables..... I'm sticking with gold. Thus spake the uncertain investor. Gold up, 1260. Link to comment Share on other sites More sharing options...
LauraB Posted June 28, 2010 Report Share Posted June 28, 2010 An outrageous, unfounded, statement from the 'Durden' person on zh As for the forced return to the gold standard, that is continuing as planned: gold is back to just off all time highs. http://www.zerohedge.com/article/eurchf-ne...ld-surges-again (not a lot to see, I was just drawn to his 'gold standard' remark. Even hints that the Euro isn't falling apart because of printing! Is this what that collider machine en CH is really for? Maybe it's that age thing again, but I do find this fiscal affair difficult to take seriously at times; but please do not confuse serious with responsible. No-one on GEI would do that, would they? I blame Plato. Somewhere in distant memories is Socrates saying we must forgive someone who has touched the divine for being unable to refrain from laughing when men are discussing serious affairs.....or a transliteration to that effect. Link to comment Share on other sites More sharing options...
romans holiday Posted June 28, 2010 Report Share Posted June 28, 2010 Even hints that the Euro isn't falling apart because of printing! Is this what that collider machine en CH is really for? The Swiss Central Bank are buying Euros to keep their currency from appreciating too much against the Euro. Link to comment Share on other sites More sharing options...
Schaublin Posted June 28, 2010 Report Share Posted June 28, 2010 An outrageous, unfounded, statement from the 'Durden' person on zh http://www.zerohedge.com/article/eurchf-ne...ld-surges-again (not a lot to see, I was just drawn to his 'gold standard' remark. Even hints that the Euro isn't falling apart because of printing! Is this what that collider machine en CH is really for? Maybe it's that age thing again, but I do find this fiscal affair difficult to take seriously at times; but please do not confuse serious with responsible. No-one on GEI would do that, would they? I blame Plato. Somewhere in distant memories is Socrates saying we must forgive someone who has touched the divine for being unable to refrain from laughing when men are discussing serious affairs.....or a transliteration to that effect. Laura, you must be getting on a bit if you remember chatting with Socrates. Maybe the collider is going to produce mini black holes - these will be used to suck in all outstanding debt and therefore solve all the problems. Simple really. Link to comment Share on other sites More sharing options...
tl8177 Posted June 28, 2010 Report Share Posted June 28, 2010 Fiat currencies. Don't you just love them http://www.telegraph.co.uk/finance/persona...currencies.html Link to comment Share on other sites More sharing options...
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