Who the hell is buying these 1 gram gold?

Discussion in 'Bullion Investing' started by goldrealmoney79, Jan 3, 2021.

  1. goldrealmoney79

    goldrealmoney79 Active Member

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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I was a poor man most of my life. When you are poor it is easy to justify a purchase like this if you really wanted to own some gold.
     
  4. manny9655

    manny9655 Well-Known Member

    One of my co-workers buys these but he says he hasn't bought one for awhile. He usually buys from APMEX. I think he's saving his money to do stuff to his new house...
     
  5. losthomer

    losthomer Active Member

    I've bought a few to give out as gifts for nieces and nephews. I've never kept any.
     
    Matthew Kruse and GoldFinger1969 like this.
  6. -jeffB

    -jeffB Greshams LEO Supporter

    People who don't have the money for a full ounce, I'm sure. You'd be surprised at how well those premiums hold up, too. Especially if you can turn it into a MLM scheme.

    As it happens, I just sold four 1g bars at $75 each. It's certainly a high premium compared to ounces, but the Karatbars do seem to pull the high prices more easily than other brands. Seems backwards to me, but I did well when I bought them (pawn shop deal), and I'd much rather have a gold coin than tiny bars in "premium" holders.
     
  7. fretboard

    fretboard Defender of Old Coinage!

    I think the rationale is fomo! :D
     
  8. medoraman

    medoraman Supporter! Supporter

    I do not find the premium that bad. Think about it. Every coin or bar has a cost to manufacture. Saying $14 is "way too much" to cover acquisition cost of gold, shrinkage, processing, packaging, handling, shipping to wholesalers, dealer markup, and Ebay fees is not living in the real world.

    Sure, I buy these at melt when my local dealer has them. I will take advantage of it second hand, but to buy it from a manufacturer I do not find it outrageous.
     
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  9. There is a definite desire to purchase gold, but since I don't have proper storage for it, and do not care to pay for it and leave it in the hands of brokers or coin dealers, who, I'm sure will be put quickly out of business
    Edited
     
    Last edited by a moderator: Jan 5, 2021
  10. juris klavins

    juris klavins Well-Known Member

    Same story with silver bullion - Valcambi Suisse mints their 'combibars' of 100 one gram bars in a divisible bar - they typically re-sell on eBay at $175 (2x spot).
    Smaller pieces sell for even higher premiums - a typical 10 gram section (10 bars) lists for 33.75 + 3.75 shipping + sales tax = $40+ (That's about $124.40/oz.) :eek:

    “VERY POPULAR SOLID SILVER VALCAMBI SUISSE BULLION BARS! SIZE: 10mm X 7mm. YOU WILL GET 10 BARS TAKEN ” - (truth in advertising ;))


    s-l500 (2).jpg

    The smallest gold bar I own is a 5 gr. Pamp Suisse Veriscan, which I purchased years ago at a low premium.

    PAMP-5gram-gold-bar-packages.jpg
     
    Last edited: Jan 5, 2021
  11. DarkRage666

    DarkRage666 Procrastinator

    I probably would buy one tbh... I want gold but can't afford an ounce
     
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Even a gram is pretty costly these days, $62.70 spot. Gold fanams, extremely tiny coins from India dating to the Middle Ages, can be had for somewhat less, and they're actual coins.

    Or, if you can save up a bit more, you can get small gold coins like the Mexican Dos Pesos, or even an ex-jewelry gold dollar. You'll pay more than melt for either, but melt is still under $100 for each, and again, they're coins.

    Or, if you just like the look of gold, you can buy any of the plated stuff or vials full of gold leaf that are plentiful on eBay. They can be had for a few dollars, because their actual gold content is too small to weigh -- but it's definitely gold that you can see.
     
  13. DarkRage666

    DarkRage666 Procrastinator

    I have gold plated things but I have $100 to spend... I want actual solid gold
     
  14. -jeffB

    -jeffB Greshams LEO Supporter

    It sounds like you're within striking distance of a Dos Pesos, but you'll need patience, and/or probably a bit more money saved up.
     
  15. Gam3rBlake

    Gam3rBlake Well-Known Member

    I think a lot of the sales are due to novelty.

    For example a parent wanting to teach their children about bullion investing and buying each child a 1g gold bar for Christmas/Birthday just to get them interested. The gold bug is infectious.
     
  16. Gam3rBlake

    Gam3rBlake Well-Known Member

    Do you think you could wait up and save just a bit longer? Maybe save up for like a 1/4 oz?

    There are a lot of choices available once you get up to bigger amounts and the premium isn’t so crazy.

    Maybe something like this? .9999 fine.

    You could get it cheaper from somewhere other than APMEX though so ignore the prices.

    E82B0D7D-74D8-4ED0-8748-A932ABE6F0BB.png
     
  17. goldrealmoney79

    goldrealmoney79 Active Member

    @Gam3rBlake that is true lots of novelty purchases.
    @-jeffB I love me some dos and 2.5 pesos. theyre freaking great.
    @juris klavins I was unaware of both of those products. its freaking nuts.
     
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