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Started By
Message
Selling a Gold Krugerrand?
Posted on 10/11/09 at 7:05 pm
Posted on 10/11/09 at 7:05 pm
I've got a 1980 South African 1 oz. Krugerrand. With the rising gold prices hovering over $1000, I'm thinking about selling it. Has anyone had any experience doing this? If so, did you use eBay, a certified buyer, etc.?
I'm just looking for some general advice/comments. I'm still college-aged, so I'm more concerned with its short-term monetary value, rather than long-term investment value. Thanks.
I'm just looking for some general advice/comments. I'm still college-aged, so I'm more concerned with its short-term monetary value, rather than long-term investment value. Thanks.
4
Posted on 10/11/09 at 7:08 pm to Joe Joe Joe
hang onto it if it was given to you. Gold might be over valued at the moment, but having a krugerrand is pretty cool. And if obama crashes this country into a brick wall, then having a gold coin will come in handy.
Posted on 10/11/09 at 8:59 pm to MileHigh
quote:I have to agree, I would like to own a kregerrand. I wouldnt sell it, and some people say gold is overpriced now, but I read some where that gold might always stay above 1000 so I would hold on to it.
hang onto it if it was given to you. Gold might be over valued at the moment, but having a krugerrand is pretty cool. And if obama crashes this country into a brick wall, then having a gold coin will come in handy.
Posted on 10/11/09 at 9:09 pm to Tiger4
quote:
and some people say gold is overpriced now,
That's kind of the reason I want to sell: to get something before the market stabilizes and the gold price goes down. I just need the cash right now; like I said, the long-term investment value is not my main concern.
Posted on 10/11/09 at 9:46 pm to Joe Joe Joe
Gold is not a good long term investment and it can be backed up by historical data.
Everyone in the world knows that gold is highly overpriced, but doomsday theorists are keeping the price afloat.
Everyone in the world knows that gold is highly overpriced, but doomsday theorists are keeping the price afloat.
Posted on 10/11/09 at 10:19 pm to TheHiddenFlask
quote:
Everyone in the world knows that gold is highly overpriced, but doomsday theorists are keeping the price afloat.
That's what I was thinking. Might as well turn it over for the most money I can while I can. I'm a year out of college and could use the $1000+ much more than having it sit in my desk drawer for a few years.
Posted on 10/11/09 at 10:44 pm to TheHiddenFlask
quote:yeah Im sure thats why china is buying so much.
Everyone in the world knows that gold is highly overpriced, but doomsday theorists are keeping the price afloat.
Posted on 10/11/09 at 10:46 pm to Joe Joe Joe
If you need to eat, maybe if you want to buy a new boat no. imo. LIke I said Im high on gold and will always be. people here will tell you that gold is worthless but there is a reason why banks and countries buy so much its worth something to someone.
Posted on 10/11/09 at 10:46 pm to TheHiddenFlask
quote:
Gold is not a good long term investment and it can be backed up by historical data.
Gold should never been seen as an asset that produces a return, just a really safe asset.
quote:
Everyone in the world knows that gold is highly overpriced
well except the people that continue to purchase it.
Posted on 10/11/09 at 10:49 pm to MileHigh
I dont see why someone would say its over priced. SUpply and demand should debunk that.
Posted on 10/11/09 at 10:53 pm to Tiger4
quote:
I dont see why someone would say its over priced. SUpply and demand should debunk that.
well I don't know about that. Most of the gold that is traded is paper gold, and that could drive up the value of the physical asset to an unreasonable value. But it should hold value decently in financial turmoil.
Posted on 10/11/09 at 11:43 pm to Tiger4
There was also plenty of demand for housing in California circa 2004-08. Would you say that, at their historic prices, those houses weren't overvalued? Just sayin.
Posted on 10/11/09 at 11:44 pm to Joe Joe Joe
Joe joe, I'll give you $1000 for it.
Posted on 10/11/09 at 11:45 pm to kfizzle85
quote:But doesnt the gov. have incentives for buying houses and/ or building them, in a free market. I think if it had been a freemarket it wouldnt have occured as bad as it did.
There was also plenty of demand for housing in California circa 2004-08. Would you say that, at their historic prices, those houses weren't overvalued? Just sayin.
Posted on 10/11/09 at 11:46 pm to Tiger4
I'm not sure I understand that comment?
Posted on 10/11/09 at 11:52 pm to Tiger4
Alright let me try agian.
Doesnt the gov. have incentives for buying and/or building houses? In a free market, it wouldnt have occured, or if it did it wouldnt have happen as bad as it did.
Doesnt the gov. have incentives for buying and/or building houses? In a free market, it wouldnt have occured, or if it did it wouldnt have happen as bad as it did.
Posted on 10/12/09 at 12:00 am to Tiger4
Sure, I don't disagree with that general assertion. Do you think the gold market is a pure free market?
Posted on 10/12/09 at 12:02 am to kfizzle85
quote:Doesnt protectionism (or any interference) in some markets affect others. Im not completely familiar with the gold market. Id be willing to guess that gov is less hands on it, than housing.
Do you think the gold market is a pure free market?
Posted on 10/12/09 at 12:17 am to Tiger4
I'm sure you're correct in that statement, but the us housing market isn't likely to be affected by, say, the machinations of a bank in Kazakhstan, whereas the gold market certainly could be. The lack of potential interference by the US gov is more than made up other participants around the world. At least in our housing/gov example, you know what the distortions are. I don't think that is necessarily true for the gold market.
Posted on 10/12/09 at 12:22 am to kfizzle85
Early this year IMF said they where going to sell I think it was 300 tons of gold and the price went down about 200$, so I agree that we cant control what other people do but we can help our selves out by keeping our markets free. Because we can guess what will happen if we subsidize one thing but we wont truly ever know imo. and then you have the option to interfere with the markets more or you can let them dictate themselves.
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