surfdude Posted February 4, 2010 Report Share Posted February 4, 2010 Kruggers are 22 Karat and Maples and Nuggets are 24 Karat. Nuggets are in plastic cases - maybe that is to protect them from scratches since they are purer coins. If Kruggers have the same gold content they would have to be mixed with more copper and thus heavier. Anyway they are cheaper and inversely you get less for them when you exchange them back. Incidently, Exchanging gold here is the same as any FX and treated the same. Just have to go to banks that deal in physical/coins. I am wondering if this situation is the same in other places? I.E., Walk into your bank and buy/sell coins or is this something done only in Hong Kong/China? Link to comment Share on other sites More sharing options...
surfdude Posted February 4, 2010 Report Share Posted February 4, 2010 When buying gold coins, unless you are into numismatics, (and there IS a time for that but not now perhaps) always buy the cheapest IF you are thinking about re-selling them in the future. One ouce of gold bullion is one ounce of gold bullion. You'll only get spot or there abouts whether it be a Krugger or anything else. If you cna buy them for 50 dollars off in HK, then I would load up with them. I think there will always be a disparity between kruggers and Nuggets in Hong Kong. At least with the banks but what you say would be true if the coins were taken elsewhere and a buyer bidded the same price for a 1 oz coin irregardless of if being a maple,panda, krugger... Link to comment Share on other sites More sharing options...
grumpy-old-man Posted February 4, 2010 Report Share Posted February 4, 2010 Coming proof that Gold will be officially Money once again.....soon? we have discussed this a few times before. (or Silver, although this link/video states Gold) There is a nice video on that link (although mainly audio & stuff we already know) Gold - China's End Game ? (my bold) "China... A riddle wrapped in a mystery wrapped in an enigma? Not really, especially if you know your history. Fact #1: China knows all about the long term instability of make believe money - after all they invented it and have more experience with it than anyone else. (They called it "fly away" money.) Fact #2: China is the longest continuously running culture on the planet. Its historical memory is calculated in the thousands of years. Fact #3: No county suffered more profoundly in the last 100 years than China. Weakened by corruption, it was for all practical purposed torn limb from limb by the Japanese during WW II. The Nazis in Europe were timid gentlemen by comparison. In China, you have the combination of an incredibly sophisticated culture, with a long memory, that has recently been horrifically traumatized. Anyone who thinks China is just hacking around without a plan is either ignorant or just stupid (i.e. the entire US news media and political structure.) China is ENCOURAGING its citizens to buy gold. The government is even producing educational television programs on the subject. Do you think they're doing that because they can't think of anything else to do with their free time? " Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 What a pessimistic fellow you are. you sound like Malthus. That is often the charge used against realists. I got a similar response when I suggested house prices were going to crash a few years back. Water off a ducks back. Link to comment Share on other sites More sharing options...
mSparks Posted February 4, 2010 Report Share Posted February 4, 2010 That is often the charge used against realists. I got a similar response when I suggested house prices were going to crash a few years back. Water off a ducks back. And it never occurred to you that house prices crashing was a good thing for the future? Link to comment Share on other sites More sharing options...
grumpy-old-man Posted February 4, 2010 Report Share Posted February 4, 2010 That is often the charge used against realists. I get a lot of this in real life. People (even older ones) seem to be unable to differentiate between pessimism & realism. I have come to the conclusion that those that seem incapable of doing this, but appear reasonably intelligent or above are up to their eye balls in debt & are house owners &/or BTlers. I discussed the housing market with my doctor in 2007 stating that the market would crash after a brief discussion about the coming economic volatility. She totally disagreed with both my statements & said that house prices would continue to grow & that she had bought BTL property. She is in her late 40's I would think. Now if doctors are getting it wrong............. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 4, 2010 Author Report Share Posted February 4, 2010 If Kruggers have the same gold content they would have to be mixed with more copper and thus heavier. They ARE heavier. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 4, 2010 Author Report Share Posted February 4, 2010 I am wondering if this situation is the same in other places? I.E., Walk into your bank and buy/sell coins or is this something done only in Hong Kong/China? Canada, Germany. In Germany, gold is not exactly treated like FX, but you can usually buy & sell some in banks. Link to comment Share on other sites More sharing options...
mSparks Posted February 4, 2010 Report Share Posted February 4, 2010 They ARE heavier. So profit there then? Buy Kruggers extract the extra metal sell the gold thats left as Maples and Nuggets for the same price you paid for the original kruggers. Link to comment Share on other sites More sharing options...
njpurser Posted February 4, 2010 Report Share Posted February 4, 2010 I get a lot of this in real life. People (even older ones) seem to be unable to differentiate between pessimism & realism. I have come to the conclusion that those that seem incapable of doing this, but appear reasonably intelligent or above are up to their eye balls in debt & are house owners &/or BTlers. I discussed the housing market with my doctor in 2007 stating that the market would crash after a brief discussion about the coming economic volatility. She totally disagreed with both my statements & said that house prices would continue to grow & that she had bought BTL property. She is in her late 40's I would think. Now if doctors are getting it wrong............. Nah. Most doctors can't think outside the box. Nick Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 And it never occurred to you that house prices crashing was a good thing for the future? Nah, you've got completely the wrong end of the stick, I believe house prices should be much much lower it's the people I was telling with a VI for high house prices who thought I was a pessimist. Imagine what kind of life we could all have if we didn't have to pay bankers rent to live on our island we could all start small businesses spend more time with our family. Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 Nah. Most doctors can't think outside the box. Nick Most of them can't even think inside the box IMO. Link to comment Share on other sites More sharing options...
aliveandkicking Posted February 4, 2010 Report Share Posted February 4, 2010 Nah, you've got completely the wrong end of the stick, I believe house prices should be much much lower it's the people I was telling with a VI for high house prices who thought I was a pessimist. Imagine what kind of life we could all have if we didn't have to pay bankers rent to live on our island we could all start small businesses spend more time with our family. It is not possible to have things for nothing though. 1. Where will the money come from to pay for your products? 2. Running your own buisiness can mean that being at home is like being at work 3. Bankers provide a service as their buisiness. Like plumbers provide a service. If the money fails or the water fails we tend to call out the army and so forth. Granted their are degrees of insanity and horribleness between plumbing failing and money failing 4. Most people buying expensive houses think they can prosper and live comfortably in retirement and spend more time with their family 5. Successful none self employed people can spend time with their familes 6. If you spend too much time with your family you want to spend less time with your family 7. We are all living in a benefit culture one way or another where we believe we get something for nothing - or that is how we think it works deep down psychologically If you want to run your own buisiness then do it and avoid blaming others for where you are at the moment. Just do it. Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 It is not possible to have things for nothing though. Correct, which is why I didn't say it Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 If you want to run your own buisiness then do it. I have been for over a decade Link to comment Share on other sites More sharing options...
aliveandkicking Posted February 4, 2010 Report Share Posted February 4, 2010 Correct, which is why I didn't say it Why do people have to be in debt?? Surely it is more correct to say that it is a pity that people chose to be in debt when it does not assist them in their lives? Why is it that people cant take responsibility and it is somebody elses fault that they have to be in debt? Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 Why do people have to be in debt?? Because people who use credit will always outbid those who don't, until those who don't use credit are unable to access certain products services or assets unless they too use credit. "Debt is slavery of the free" Link to comment Share on other sites More sharing options...
aliveandkicking Posted February 4, 2010 Report Share Posted February 4, 2010 Because people who use credit will always outbid those who don't, until those who don't use credit are unable to access certain products services or assets unless they too use credit. "Debt is slavery of the free" Debt is slavery sounds fairly religious Debt can be very empowering if it means you have at your disposal the power of your lifes work right now in front of you to do work far faster than you ever could without debt It is an opportunity or a curse. Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 Debt is slavery sounds fairly religious Debt can be very empowering if it means you have at your disposal the power of your lifes work right now in front of you to do work far faster than you ever could without debt It is an opportunity or a curse. You are confusing debt with savings. Link to comment Share on other sites More sharing options...
surfdude Posted February 4, 2010 Report Share Posted February 4, 2010 Canada, Germany. In Germany, gold is not exactly treated like FX, but you can usually buy & sell some in banks. Thanks for that GF. Would you buy the discounted kruggers as opposed to Maples/Nuggets? The price difference is about US$50. Link to comment Share on other sites More sharing options...
mSparks Posted February 4, 2010 Report Share Posted February 4, 2010 Nah, you've got completely the wrong end of the stick, I believe house prices should be much much lower it's the people I was telling with a VI for high house prices who thought I was a pessimist. Imagine what kind of life we could all have if we didn't have to pay bankers rent to live on our island we could all start small businesses spend more time with our family. sack that. I like my slaves. Link to comment Share on other sites More sharing options...
carbon junkie Posted February 4, 2010 Report Share Posted February 4, 2010 sack that. I like my slaves. Let's hope they like you when they find out. Link to comment Share on other sites More sharing options...
romans holiday Posted February 4, 2010 Report Share Posted February 4, 2010 Here she goes... gold going through 1090, silver 16.00 Link to comment Share on other sites More sharing options...
signofthetimes Posted February 4, 2010 Report Share Posted February 4, 2010 Here she goes... gold going through 1090, silver 16.00 how much paper have these new yorkers got left to sell ? Link to comment Share on other sites More sharing options...
romans holiday Posted February 4, 2010 Report Share Posted February 4, 2010 how much paper have these new yorkers got left to sell ? Gold could consolidate to a 3 digit price yet. All good for the long term imo. Link to comment Share on other sites More sharing options...
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