My new GOLD below spot :)

Discussion in 'Bullion Investing' started by CoinKeeper, Jun 28, 2009.

  1. CoinKeeper

    CoinKeeper Keeper of Coins

    Two nice bars off of eBay today! A super price too!

    The spot price for 1 gram of gold is $30.19, I got each bar (with shipping) for $28! That's 7.8% below spot!


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  3. Yankee

    Yankee Senior Member

    Why didnt you get a full pound at that price?
  4. CoinKeeper

    CoinKeeper Keeper of Coins

    The seller only had 2 for sale. So I got what I could.
  5. skippy

    skippy Senior Member

    Was it a buy it now or regular auction?
  6. CoinKeeper

    CoinKeeper Keeper of Coins

    Buy it now. I was looking at gold that was "newly listed" and the two bars I bought popped up. They were on eBay for 12 minutes before I got them. I was quite lucky!
  7. danisanub

    danisanub Finance Major

    Wow that's really good and afforable. I'm going to start looking for one gram bars !
  8. CoinKeeper

    CoinKeeper Keeper of Coins

    But be careful, they almost always carry huge premiums. I got really lucky.
  9. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    I think the discount is warranted. I would be concerned about the weight and purity. Do you know anything about the refiner? They definitely aren't one of the top companies.
  10. Yankee

    Yankee Senior Member

    You could always test it with a magnet! I dont think gold is magnetic
  11. CoinKeeper

    CoinKeeper Keeper of Coins

    The company is based in Turkey and was started off by the Turkish government in the 90's. They now have offices in Istanbul, London, and New York. They mint over 1ton of gold every year. I'm pretty confident I am not going to get ripped off.
  12. Yankee

    Yankee Senior Member

    I think you are right I couldnt find 1 example on line of any fake bars from that country! I think you got a winner!
  13. andrew289

    andrew289 Senior Analyst

    ROFLMFAO ...qoute of the year so far! Gold ...magnetic "think"
  14. Yankee

    Yankee Senior Member

    Allways test your gold bars!

    Attached Files:

  15. CoinKeeper

    CoinKeeper Keeper of Coins

    Well, I got a couple more bars below spot...the purity is 99.5% but I still have 2 whole grams of gold below spot!!!

    (name on picture is not the seller)
  16. tonedcoins

    tonedcoins New Member

    I know nothing about gold bars but those look very nice. Congrats on your buys. :kewl:
  17. ewomack

    ewomack Senior Member Supporter

    From what I've heard the Istanbul refinery is reputable, though they're definitely not the most acclaimed. I don't own anything from them, but I haven't actively avoided them either. You only have to worry about the e-bay dealer's reputation. But I don't see any evidence that you were hoodwinked.
  18. Danr

    Danr Numismatist

    I was thinking the same thing.
  19. CoinKeeper

    CoinKeeper Keeper of Coins

    They're a very reputable company that deals with literally a ton of gold every year. They've been around for years and I've even mentioned them to my dealer and he said that he's dealt with their products without a problem. Just because they're foreign, doesn't mean they're bad ;)
  20. BadThad

    BadThad Calibrated for Lincolns

    I'd be paranoid about those even though the company name is reputable, how do we know the Chinese aren't counterfeiting these too? :confused:
  21. AlexN2coins2004

    AlexN2coins2004 ASEsInMYClassifiedAD

    where the hell are you looking at? I'm only finding 49.99 a gram bar....
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