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Author: Subject: Element collectors - Don't miss this 100 kg Au coin
pantone159
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[*] posted on 3-5-2007 at 21:56
Element collectors - Don't miss this 100 kg Au coin


http://www.canada.com/topics/news/national/story.html?id=d43...

Canada is introducing a new 100 kg, 99.999% fine, gold coin. Only $3 million each.
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Darkblade48
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[*] posted on 3-5-2007 at 22:44


And that's 3 million Canadian ;)

I'm sure I could do a lot more useful things with 3 million CAD though.
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egloskerry
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[*] posted on 4-5-2007 at 06:04


So you buy a 1000000$ coin for 3000000$? Seems like a poor investment to me!
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pantone159
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[*] posted on 4-5-2007 at 08:10


Face value for bullion coins is almost always just a nominal value, the metal is always worth far more. Nobody ever spends such things. (Even the reasonably sized ones.)
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egloskerry
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[*] posted on 11-5-2007 at 09:56


You could buy a house with it. "Sir, this house is 3000000 dollars." "I'll pay in cash."
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Pyridinium
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[*] posted on 11-5-2007 at 09:59


Quote:
Originally posted by egloskerry
So you buy a 1000000$ coin for 3000000$? Seems like a poor investment to me!


I never could understand the reasoning behind buying a bullion coin that's priced at 2 to 3x bullion price. And then when you want to sell it, you get... bullion price.
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pantone159
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[*] posted on 11-5-2007 at 13:37


It's not priced at 3x bullion price... It is supposedly just slightly over bullion price (I didn't calculate this myself) to account for fabrication costs, some profit, etc. The face value is not the same as the bullion price, face value is much less.
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Pyridinium
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[*] posted on 11-5-2007 at 14:30


Quote:
Originally posted by pantone159
It's not priced at 3x bullion price... It is supposedly just slightly over bullion price (I didn't calculate this myself) to account for fabrication costs, some profit, etc. The face value is not the same as the bullion price, face value is much less.


I should probably have looked up the current price of gold before saying that, but I have seen a few offers for "investment" bullion coins that were most definitely at least 2-3x over bullion price. So in that case it wasn't much of an investment.
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Fleaker
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[*] posted on 13-5-2007 at 08:09


That's true pyridinium. That's why if you buy gold, buy it by the ingot. Don't pay extra for numismatic costs unless the coin is rare and you plan on selling it at a show or something. If you're just after something to invest in and have as a hedge against inflation or a paperweight :p, go to http://www.kitco.com and buy away. I sell my gold, silver, and platinum to them and they give the best prices I have found. Good to deal with.



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Pyridinium
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[*] posted on 13-5-2007 at 14:09


Quote:
Originally posted by Fleaker
If you're just after something to invest in and have as a hedge against inflation or a paperweight :p, go to http://www.kitco.com and buy away. I sell my gold, silver, and platinum to them and they give the best prices I have found. Good to deal with.


Thanks for the tip, Fleaker. I have been thinking about buying a small piece of pure Au to experiment with gold compounds. After all, it is a "heavy metal" and has some neat properties :D
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