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Why Are So Many People Buying Geiger 1 Gram Gold Bars?
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<p>[QUOTE="NPCoin, post: 4588854, member: 5629"]Not playing devil's advocate here, I would have to disagree on the content and premise of this article. It is important to know and understand the terms that are used in the various areas of investment. When speaking of precious metals, the term <i>fine</i> signifies "perfection" or as close to 100% as possible.</p><p><br /></p><p>So, to state that something is <i>fine</i> in it's metal content signifies 100%. In the case of the karat scale that would be 24K (which is calculated to 999 millesimal fineness or simply <i>fine</i>). Looking at the U.S. 1/10 ounce Gold Eagle, we see that it is stated as holding <i>1/10oz Fine Gold</i>. That is to say <i>1/10oz .999 Fine Gold</i>.</p><p><br /></p><p>The writer of the article makes it that the Cooks Island coins are <b>fake</b> because they use the proper notation of <i>1/10 oz .24 Pure Gold</i>. The author makes the claim that the weight given on the coin is the <b>AGW</b> of the coin, which is not the standard use. The standard use is to note both purity as well as weight.</p><p><br /></p><p>Would we then say that the 1915 Cuba 5 Pesos is <i>fake</i> because it states a purity of .900 and a weight of 8.359g which yields an AGW of only 0.2419 (8.359g x .900 pure) instead of the "quoted" 0.2688 (8.359g at Fine)? No! Because stating the weight in respects to the purity is standard and has been for longer than any of us have been alive.</p><p><br /></p><p>I bring this up because of the original OP. There was question as to why a piece of gold would go for multiples of it's current "spot" pricing. I proposed and stand by the fact that these items are very collectable. The premiums are due to desirability.</p><p><br /></p><p>In the eBay link given, the seller gives a size comparison of the 1g Geiger piece to that of a U.S. quarter. Is this a deception to drive the price up? Obviously, this 1g square piece looks like the size of a U.S. 1/10 oz Gold Eagle when compared to the quarter. Is that why people are paying 1/10oz pricing for these things? Are the Geiger pieces therefore "fake"?</p><p><br /></p><p>People's perceptions can be driven by greed and can often jump into things without fully investigating first. But, there are things that seem illogical and foolish to us. Like, why pay 1/10oz pricing for 1g of gold? Well, those same people who collect them can look at us and ask why we could possibly pay literally hundreds of times value for less than 1 cent of copper and zinc?</p><p><br /></p><p>I'm not trying to downplay the fact that there are deceptive sellers out there, but claiming something that has been created under proper and appropriate standards and calling them flat-out <i>fake</i> sets something off in me.</p><p><br /></p><p>edit:</p><p>I should say, Fret, this is in no way focused toward you but rather to the article you linked to.[/QUOTE]</p><p><br /></p>
[QUOTE="NPCoin, post: 4588854, member: 5629"]Not playing devil's advocate here, I would have to disagree on the content and premise of this article. It is important to know and understand the terms that are used in the various areas of investment. When speaking of precious metals, the term [I]fine[/I] signifies "perfection" or as close to 100% as possible. So, to state that something is [I]fine[/I] in it's metal content signifies 100%. In the case of the karat scale that would be 24K (which is calculated to 999 millesimal fineness or simply [I]fine[/I]). Looking at the U.S. 1/10 ounce Gold Eagle, we see that it is stated as holding [I]1/10oz Fine Gold[/I]. That is to say [I]1/10oz .999 Fine Gold[/I]. The writer of the article makes it that the Cooks Island coins are [B]fake[/B] because they use the proper notation of [I]1/10 oz .24 Pure Gold[/I]. The author makes the claim that the weight given on the coin is the [B]AGW[/B] of the coin, which is not the standard use. The standard use is to note both purity as well as weight. Would we then say that the 1915 Cuba 5 Pesos is [I]fake[/I] because it states a purity of .900 and a weight of 8.359g which yields an AGW of only 0.2419 (8.359g x .900 pure) instead of the "quoted" 0.2688 (8.359g at Fine)? No! Because stating the weight in respects to the purity is standard and has been for longer than any of us have been alive. I bring this up because of the original OP. There was question as to why a piece of gold would go for multiples of it's current "spot" pricing. I proposed and stand by the fact that these items are very collectable. The premiums are due to desirability. In the eBay link given, the seller gives a size comparison of the 1g Geiger piece to that of a U.S. quarter. Is this a deception to drive the price up? Obviously, this 1g square piece looks like the size of a U.S. 1/10 oz Gold Eagle when compared to the quarter. Is that why people are paying 1/10oz pricing for these things? Are the Geiger pieces therefore "fake"? People's perceptions can be driven by greed and can often jump into things without fully investigating first. But, there are things that seem illogical and foolish to us. Like, why pay 1/10oz pricing for 1g of gold? Well, those same people who collect them can look at us and ask why we could possibly pay literally hundreds of times value for less than 1 cent of copper and zinc? I'm not trying to downplay the fact that there are deceptive sellers out there, but claiming something that has been created under proper and appropriate standards and calling them flat-out [I]fake[/I] sets something off in me. edit: I should say, Fret, this is in no way focused toward you but rather to the article you linked to.[/QUOTE]
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