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Current Gold Price
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BritDownUnder



Joined: 21 Sep 2011
Posts: 529
Location: Hunter Valley, NSW, Australia

PostPosted: Sun Oct 14, 2018 6:40 pm    Post subject: Reply with quote

kenneal - lagger wrote:
I suspect that if there was a requirement to actually possess physical gold to trade it the value of gold would shoot up as all the people owning "paper"gold suddenly had to find some metal to prove ownership.


I think a lot of 'paper' gold companies would quickly go bankrupt if there was a demand to see such stored gold. Not that I am suggesting they are a fraud or anything - far from it.
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vtsnowedin



Joined: 07 Jan 2011
Posts: 5204
Location: New England ,Chelsea Vermont

PostPosted: Sat Mar 30, 2019 9:48 pm    Post subject: Reply with quote

I went into the local coin shop the other day and asked what they were getting for "junk" silver coins. This is something quoted on the New York market daily for bags with $1000 face value and smaller lots are usually available for a small mark up. This store has been there for decades and I remember them buying and selling both gold and silver of all types daily with an eye to the price ticker that was always running on the tv. But ownership has changed and things are not quite the same and the present proprietor said she didn't have a single junk coin in the store. I did not bother to point out that some of the coins she had in plastic collectors cases for $50+ each would grade no higher then cull but that is another story.
You can of course buy all you want on line but that leaves an ownership trail that most bullion collecting doomers don't want to leave behind.
I guess I'll have to resort to burying mason jars full of "Benjamin's in the flower garden. Wink
To stay on topic the gold price is holding steady around $1300 with Fridays close at $1292.
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