My guess is these people don't know what they're doing, they're stuck in FOMO and they're buying all gold in the hopes that they buy something that's gonna payoff bigtime! Or it's something else, do you know why bidders would bid up gold filled junk, the price is up to $255! Oh, maybe those couple of big medals that say Layered in 24k, maybe they think it can be scraped off, am I missing something here? https://www.ebay.com/itm/1471330626...alHS12jAXFL54K/zBujajE8SE=|tkp:Bk9SR9zL4dKIZw
Well I don't have an answer, $250 seems high for gold filled or plated. I do hear that the 1/10-1/20 marks are supposed to represent the amount of gold layer of the pieces total weight. Maybe someone saw something they liked or something that was better than gold filled? Probably a collector or reseller? Look up Sreetips on YouTube. Make sure you subscribe I'm pretty sure he needs the money
"Gold-filled refers to a type of jewelry made by bonding a thick layer of gold alloy to a base metal, usually brass. It is more durable and affordable than solid gold, containing at least 5% gold by weight, making it a popular choice for jewelry. Composition Base Metal: Usually made from brass, but can also include copper or silver. Gold Layer: The gold layer is 5 to 10 times thicker than regular gold plating, ensuring a more substantial appearance and durability." I dunno, does that indicate there's a substantial bit o'gold? perhaps it can be extracted? With the current price of gold... https://www.pantherdeluxe.com/post/what-is-gold-filled-jewelry-a-complete-guide
Maybe the buyer just liked the lot. I always say buy what makes you happy. The best things in life aren't always investments. Bruce
Yep, somebody did math, then gambled. 223g of junk that's at least 5% gold would be over 10g of gold. Gold is just over $160/g today. ...except that the biggest pieces are "layered", not "filled", and "layered" doesn't specify a minimum gold content, so this won't be 10g of gold. I don't know how much actual gold the lot will turn out to contain, but it's likely the winning bid is well below spot. Now all the winner has to do is extract that gold.
I did the math last night too. But does the 5% requirement mean pure gold? "Gold fill" seems like a nebulous term. 10k is going to be less than half pure gold to begin with. I'm also thinking some bidders thought they were actually getting two $100 bills along with it. Ebay buyers aren't the brightest bunch. (What the heck is that anyway? Are miniature $100 bills affixed to the medal?)
I had the same thought. My understanding is that the legal requirement to claim "gold filled" is net 5% actual gold weight. Note that I'm not confident enough in that understanding to put my own money on it.
