Who the hell is buying these 1 gram gold?

The premium relates to novelty / format, and also the same principle that predatory car dealers use - you can buy an '05 Charger with almost 250k miles on it for $1000 down... and then $150/mo for the rest of your natural life...

Some people will pay it because they like the small format / can easily gift it, others will buy because in real, immediate terms, they can't afford to do anything else.

 

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The people that buy 1 gram of silver???

 

Purchased this almost forty years ago:

 

I can't remember the exact date that I started coin collecting. My father died in 1996. My brother and I were named in his will to divide his "coin collection". However, my mother did not want to start dividing things in the house that were his, so, when my mother passed, we got the "coin collection" and divided it. There was no gold and the only silver were in old coins that he collected, i.e. 4-6 Morgans, 5 Peace, and a few silver halves, quarters, and dimes. Once I got my share I started my coin collection. I got the bug for gold, even though I could have bought it earlier, but once I actually got my hand on a double eagle, I was hooked. My first gold coins were an 1895 $10 Liberty Head, a 1904 $20 Liberty Head (with Details), the MMIX Ultra High Relief MS68 Gold Coin, and a RAW $50j, One Ounce Gold Bullion Coin. (I should have read the book.) Most of my gold now is from the Mint. Any suggestions about how I should proceed now? I'm 73.

 

What budget are you working with?

There is always the KING of American gold coins: The $50 Humbert gold coin. 2.5 troy oz of pure gold.

I wish I could afford one.

 

Where and how would I find one of those? If it is a 2.5 Troy Ounce, and in the condition of the coin in the picture, if I could find it, I think it would run $150K-$200K. I don't know if you were serious, but I would have to sell both of my homes, 4 cars, and then hire John Wick to get that kind of money. My wife and I are poor retired state employees. Any chance of getting something under $10K?

 

Unfortunately it is EXTREMELY expensive but not in the $150k-$200k range.

Here is the cheapest one I've found that's currently on sale by NNC. (a very reputable dealer with multiple physical locations. I've bought from them several times).

About $30k which is indeed very pricey but within the grasp of the average middle class person with alot of saving over the years/decades.

 

P.S. Did you know there were actually plans to make a 5 troy oz $100 "union" gold piece? Until someone with commonsense realized no one wanted to carry around 5 troy oz of gold.

 

Let's think about something under $10K. I appreciate your thoughts.

 

Fair enough. I just wasn’t sure exactly what your budget was and so I pointed out what I’d get if I had an unlimited budget lol.

How about a St. Gaudens Double Eagle?

 

Is that premium anymore than for a ounce of silver?

 

Here's my itty-bitty silver bar...I thought it was cute.

 

That looks like a tiny bar I saw a jeweler melting down to repair a burn in a watch. He cut the burnt metal out and put the liquid metal in to fill it. It was pretty cool.

 

Do you want US Gold? Or would you be fine with world gold?

 

That is one gold coin that I don't have and would like to get one that isn't priced like the 1907. I see Rick selling them at $3K or better. I haven't seen the Coin Vault advertising any St Augs. Any recommendation of a best source. It doesn't have to be MS. I would like an AU, tho. Thanks guys.

 

I would go with somewhere reputable.

If it was me buying one for myself I would buy from JM Bullion if there was no local shop that had one cheaper.

This is the lowest grade I can find and the price of it.

Or you could wait until they have lower grade ones in stock and save a little bit.

But frankly if the date doesn’t matter I think it’s worth paying the little bit extra for an MS one. It’s not a huge price jump maybe like $100 or so.

 

just buy a 999 AGE instead for less money instead of something beat up and inpure

 

AGEs aren’t 999 pure either. They are 9167 pure.

But Gold Buffalos are 999 pure.

 

I've seen these small quantities used as prized in raffles quite often. They seem to be a popular item.

 

I have a Gold Buffalo. I bought it back in 2016. JM Bullion sounds like a place to shop. I just looked at MCM. I wasn't looking for silver, but they are advertising an 2021 (P) ASE bullion MS70 at something like $269. I was a lucky one that had the ASE in my enrollment. But they're jacking up their prices on their AGEs. I usually try to buy a one-tenth oz each year. Still want the St Gaud.