How to pay under $300 for an OZ of pure .999 gold today...

[myprecious]

Take your 40% Kennedy booty to your friendly local coin dealer and hand him just under 600 of those heavy silver/clad babies you got for 50 cents a piece from your friendly local banksters...

and ask that coin dealer to trade it for some shiny yellow 1 oz .999 coins.

no ebay fees, no shipping, no cash, no paperwork...no nothing - just a bit o' friendly business.

what a hobby. shhhhh...

 

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[65gt350]

 

[diggummup]

So for $1530.00 worth of silver you can get 1 oz gold?

 

[cyberdan]

Take your 40% Kennedy ....and hand him just under 600

My refiner would probably do the same for about 450 of those same coins.
(today 450 = $1147 less 10% = $1032 = about 1oz gold)

 

[myprecious]

Your own results may vary indeed. Maples, Krugs, Eagles - all sizes, all relative.

 

[myprecious]

Take your 40% Kennedy ....and hand him just under 600

My refiner would probably do the same for about 450 of those same coins.
(today 450 = $1147 less 10% = $1032 = about 1oz gold)

if you can get 1oz pure Maple for $1032 - get all you can afford IMHO.

 

[jrf30]

Take your 40% Kennedy booty to your friendly local coin dealer and hand him just under 600 of those heavy silver/clad babies you got for 50 cents a piece from your friendly local banksters...

and ask that coin dealer to trade it for some shiny yellow 1 oz .999 coins.

no ebay fees, no shipping, no cash, no paperwork...no nothing - just a bit o' friendly business.

what a hobby. shhhhh...

I too just don't get that ratio you paid. If you have 600 of the 40% halves, you can sell them TODAY on Nucleo for $450 per $100 face. That's $300 in face, so you can sell them for $1,350. Then you can buy the one ounce of gold (An american eagle) for $1,080, which leaves you $270 in your POCKET. After some fees and shipping it will still be over $220 in your pocket PLUS you have the gold ounce.

Seems like you "shared" your potential profit with the local coin dealer. For an easy way to do it, but you short changed yourself. (SOrry to burst your bubble - but if you want to do it again and you gain an additional $220 or so NET by hearing this, then it is helpful. Which is my intent)

:-)

 

[jim4silver]

Take your 40% Kennedy booty to your friendly local coin dealer and hand him just under 600 of those heavy silver/clad babies you got for 50 cents a piece from your friendly local banksters...

and ask that coin dealer to trade it for some shiny yellow 1 oz .999 coins.

no ebay fees, no shipping, no cash, no paperwork...no nothing - just a bit o' friendly business.

what a hobby. shhhhh...

You left out the 28% tax on the profit that you will owe Uncle Sam.

Jim

 

[47thelement]

Just curiuos... why would anybody want to buy anything, especially gold when it is at an ALL TIME HIGH I thought the plan was to buy low and sell high.

 

[65gt350]

Take your 40% Kennedy booty to your friendly local coin dealer and hand him just under 600 of those heavy silver/clad babies you got for 50 cents a piece from your friendly local banksters...

and ask that coin dealer to trade it for some shiny yellow 1 oz .999 coins.

no ebay fees, no shipping, no cash, no paperwork...no nothing - just a bit o' friendly business.

what a hobby. shhhhh...

You left out the 28% tax on the profit that you will owe Uncle Sam.

Jim

It is my understanding that since it was an exchange he does not owe tax until he sells his gold. His cost basis will be the cost of the halves he exchanged.

HH,
65GT350

 

[ScoobaSteve]

Just curiuos... why would anybody want to buy anything, especially gold when it is at an ALL TIME HIGH I thought the plan was to buy low and sell high.

True. Gold is at an all time high but my bet is that it won't stop climbing until it hits $5,000.00 an oz.; might even go beyond that.

 

[myprecious]

I consider CRH as found 40% silver...and prefer to exchange it for gold or .999 Ag, quickly and painlessly.

Agreed, that if i was to get involved with finding a better deal, by doing paperwork, or a handling a shipping or digital transaction...a better deal is surely to be found.

As for buying gold at any price, i've been acquiring regardless of price for years, and will continue to play the gold/silver ratio back & forth.

No burst bubble here...if others have means to better deals - as I'm always glad to take ample profit and allow my dealers to get theirs, and so on. I understand that this is my personal opinion...and may not be yours.

Either way, one happy CRH here with a few more cheap Au Ozs.

Luck to all players.