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Gold For Sale Cheap

Wow…!!

Is this cheap or what…??

not really, but might suit someone making jewellery who needs some small specimen peices, otherwise once its melted will become about 72 grammes, then there is the buy price which is less than the bullion price so figure on that being aroud 7.5 % less than the bullion price, so all in all let the crazies buy it, and good luck to the falla thats selling it :slight_smile:

But see Gold-ATM in Auckland are buying gold nuggets at close to spot price, what $60 atm?

So looks very cheap to me :yum:

That is a good price…very fair. Due to the fact I no longer fossick or mine gold due to health problems I am very much tempted to bid myself - its lovely looking gold and currently about $1800 per 31.103 grams or near enough to $60 a gram so anything up to $4500 is well worth it.

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I was thinking around that price also.
I see the listing has around 40 watchers, so will be very interesting to see if anybody else is bidding.

Auction closing in around an hour and half.

The price of any commodity is whatever the market is prepared to pay for it. Here is some expensive gold. Clearly somebody was prepared to pay lots of money. http://www.bbc.com/news/uk-wales-south-east-wales-42081538

What an exciting auction to watch, all happened in last few minutes, 23 bids Sold for $4,400. :yum:

$55/g. Hopefully he is happy with that.

Yes very exciting to watch indeed, over 700 veiws for gold nuggets is a lot…!!

Thanks very much for watching and bidding guys haha :yum:

Yes I’m happy with the amount but thought it was going to be just that one bid as all happened in last few mins.

Have fun guys and keep safe :+1:

Dave

The analogy with New Zealand gold is not valid as Welsh gold is as scarce as Hens teeth - it may be no more pure than NZ gold but finding gold in Wales is like looking for hens teeth! It did not sell for such a figure because it was GOLD - it sold for that amount because it was Welsh Gold. I guarantee if you could find an equivalent weight of gold in Belgium then it would go for a lot more - why? Because there is no gold in Belgium worth finding…just fine flour gold and it takes years to get enough to be worthwhile. Its like Goodletite - it valuable because of its rarity.:wink:

I am not suggesting that the 80 grams are worth anything like Welsh gold. I’m just suggesting despite there being a spot price for gold this does not translate directly to the price of raw gold. Id imagine that gold in the unprocessed form is less available to most people and in lesser volume than refined bullion and as such could be considered rarer. Rarer might then translate into more expensive. I’d suggest that the above would apply more and more as the gold gets bigger.

I merely pointed out that your analogy compared with New Zealand gold was invalid. People will dictate a market value on the day BUT that value may depend on other factors…rarity and so on. Comparing that gold from Wales is a bit like comparing telephones…an old crummy telephone from 1939 might be worth $50 but the other day one sold for something like $243,000. Why? Because it was Hitler’s phone. The gold from Wales is like Hitlers phone…its a oncer.
Goldgrabs gold was a beautiful sample and to be honest I would have liked it have seen it sell for more. The nuggety pieces are very good specimens and I am actually surprised that they did not fetch more.
I had never given a thought comparing raw gold to refined gold. I think that there would be two clearly different markets…the puritan investor goes for refined bullion while those who merely want a nice sample of gold are more inclined to go for the raw gold. Somehow there’s a nicer aura about flakes and nuggets. Also the fact that on line it is mostly raw gold that is being offered and very little refined gold. Most limited income investors would perhaps rather buy raw gold on Trade me than go to the local jeweller and get him to get bullion because those local jewellers pay 6% on top then charge another 10% or so commission…not worth it.
As an aside if anyone does want to buy gold or silver bullion do go directly to the bullion dealers…Regal Castings in Auckland are one of the best. I note that most 1kg silver bars on Trademe are $100 or so OVER what you can buy them for at Regal Castings in Akiraho Street or NZ Mint in Greys Ave, Auckland.

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It sold for $4,400, good for the miner at least.

Golden Eel…I agree that if the vendor received that amount then ‘Yes’ a reasonable price BUT how much is the Trademe fee? I think it might be about $249 on that sale. If so then the vendor got about $4151 or near enough to $52 a gram or about 87 percent of spot price …hmm did I work all that out correctly

I think you have, which surprises me some what :wink:

It surprises you that I worked it out right? When I retired, my brain, such as it is, went on strike, with the result that most calculations nowdays tend to be guesswork but that’s a good thing because if your rarely right in anything you say and do then no one wants advice or a helping hand.
As for the gold, well as I think I have already said, I am surprised that it did not sell for a higher price considering what a nice looking clean sample it was.