New Way To Invest

I decided it was time to look for alternative ways to invest in bullion so I bought this. The price I paid was only a little over spot but I'm glad so bought it.

This is the oldest item in my collection.
The first photo is normal size.

 

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Not going to lie, if that is close to spot, I'd buy it too. Cool item

 

Define "a little over spot?"
5% over? Sure. Cool purchase
10% over? Mmmm
25% uhhh, dude...
33% over spot. apparently you found a gift shop for ignorant tourists

 

About 5%, if that. The cost was less than the grading fee.

 

Yea that IS pretty cool. I'd LOVE to have a chunk of that.

 

Did the grading fee factor in to the price you paid?
Gold is $1291 right now.
In other words, if that piece is half a gram or so that is $20.75 in gold. With a 5% premium, that is $21.78.
But a grading fee and holder might add anywhere from $10-$25.

So did you pay around $21.78 or did you pay around $40?!

Most forum members here and on Reddit or Youtube see other people's posts about their bullion and say "cool!" "I like it" "good job" but everything is completely uncritical. I don't want to be a jerk, but I will say plainly this was a bad buy if, including the grading fee, you paid more than 10% premium over spot.

 

Bullion is bullion, the name of the game is to buy low sell high

 

Edit, just looked up the "International Numismatic Bureau" and learned they are not a respected grader or authenticator. So: the "grading fee" would be nonexistent. And there might even be the risk that this is either not even gold or is gold but has zero connection whatsoever to the purported shipwreck.

Sorry, man...

 

No grading fees for me. I'm very pleased with the piece and the low price I paid. I own about 40 to 50 gold nuggets that weight about the same but they are all from Alaska and California and I paid less than spot for them. He's a great dealer. This was a great price and a good purchase. I'm very pleased to have it in my collection. Please enjoy and share my gladness in owning it.

 

It's gold and while I have no issues with the grading service I would not use them. They certified and slabbed a large number of items from the salvage company of this wreck who wanted a low price but also wanted certification of the items recovered.

 

“INS” is an utter sham (although the Detecto threads were quite entertaining) but at this point or in this case it doesn’t really matter. We all don’t share the same interests or appreciate the same things, so if this is something the OP likes and will enjoy vs. the price paid, I congratulate him for it.

 

Shoot, 'nut don't 'kiss and tell'. He's happy with what he's gotten, and satisfied with his purchase. He don't need a light shinning in his face and an endless stream of questions.

 

Yes, thank you. No grades attached, just a genuine certificate.

 

Just look at the photo. The lot number is on the sticker from the auction where I purchased it. lol

 

The OP made a minimal purchase for something he enjoys. Simple as that.... Ever go to a shopping mall sunglasses store and pay $150.00 for sunglasses because you like them when the same glasses are ten bucks at the dime store?.... Ever pay three bucks for a bottle of water (most plentiful substance on earth) then complain about $2.75 for a gallon of gas?..... No it isn’t just a bullion purchase. It’s the purchase of something that brings a level of happiness to the OP. We get one shot at finding some measure of joy on this spinning rock. Don't criticize the man for doing exactly that.

 

Thank you. Very well worded.

 

No, I do not.

 

Cool little thing. Even flakes of gold are fun to own, but especially old ones.

Despite everything, it's fun.

 

It's fun to see them show up in a pan after moving a bit of dirt.
Another alternative way to invest in bullion.

These haven't seen the light of day in MANY MANY years.

 

I have a few of those as well.