The NOT Political, Gold, Silver & Suckers Investment Thread

[Dave (imported)]

You know I always laugh at those commercials where theyre selling gold coins for cheap with a certificate of authenticity

Don't people know that theyre zinc covered in less than 0.005% real gold.(electro plating) LULZ

I guess it's true what they say theres a sucker born every min. LULZ

I heard one of those commercials over the weekend. I Wasn't feeling well and in my misery, I did some math.

They said the coin had 12 milligrams of gold electroplated on it...

To be generous and make the math simple, let's make that 32 milligrams --

that means that there is 32/1000 grams of gold on the coin.

There are roughly (hey this is simple math and you'll see why at the end) There are roughly 32 grams in an ounce.

So if an ounce of gold sells for $1660.00 dollars, then one gram of gold sells for $1660/32= $51.875 an ounce.

Multiply $51.875 by 32/1000 and you get $1.66 worth of gold. AT MOST. In fact, what you really get is 62 CENTS worth of gold. (multiply my 1.66 by 12 and divide by 32...)

(did you see that tricky easy math I did to make it simple)

and for that they charge you $19.99 plus shipping.

Yes friends for a pretty picture on a round disc of metal worth only 62 cents in gold to them and #19.99 (Sucker) you get royally screwed and cheated. It's a coin. they can stick it between two 3x5 cards and use a cheap envelop and 44 cents postage and you'll get it. Shipping and handling cost to you probably 10 times that if not more.

This is a good illustration of the P.T. Barnum saying - "there's a sucker born every minute"

Buy from legitimate businessmen and companies and understand the weight of gold you are getting.

[foxytaur (imported)]

Thanks for the math Dave .If it's too good to be true, it's too good to be true.

[bobover3 (imported)]

The one advantage to gold or silver coins minted by the US government is that they can be held in an IRA. That's not true for any foreign currency or for bullion. If you want to do that, you need a company offering gold or silver IRAs. You can easily find these with a Google search.

[foxytaur (imported)]

Wouldn't it be lovely to find Rhodium in the earths crust. This noble metal is soo rare that it trumps white gold in price

http://en.wikipedia.org/wiki/Rhodium

NB = pretty cool that this metal is used for the creation of catalytic converters in the automobile industry

I know this metal is extremely volatile just like all other metals but can anyone check price that it goes for today? It has said to trump white gold sometimes

I'm just getting mixed information here about this one. So Bobover. Is it a good metal to invest in the nearby future?

[A-1 (imported)]

100% plated gold coin...

[Slammr (imported)]

Wouldn't it be lovely to find Rhodium in the earths crust. This noble metal is soo rare that it trumps white gold in price

http://en.wikipedia.org/wiki/Rhodium

NB = pretty cool that this metal is used for the creation of catalytic converters in the automobile industry

I know this metal is extremely volatile just like all other metals but can anyone check price that it goes for today? It has said to trump white gold sometimes

I'm just getting mixed information here about this one. So Bobover. Is it a good metal to invest in the nearby future?

Rhodium is currently quoted at $1275.00 ask. It actually hit $10,000 in 2008, but it dropped like a rock to about $1000 in December 2008 along with all the other metals when the financial crises hit.

Gold has about doubled in price since then, and Rhodium has risen by a far lesser percentage. For a pure investment in metal, I would stick with gold or silver, especially if you want to physically hold the stuff. You can easily trade in gold and silver. You can't take Rhodium into your local coin shop and expect to trade it. An increase in the price of rhodium is probably more dependent on whether there is a strong worldwide recovery from the world's current financial problems. It's mostly an industrial metal.

I'm not ready to say we're out of the woods yet financially. I'm not currently buying any metals. None of them have moved much in months.

[gareth19 (imported)]

Wouldn't it be lovely to find Rhodium in the earths crust. This noble metal is soo rare that it trumps white gold in price

http://en.wikipedia.org/wiki/Rhodium

NB = pretty cool that this metal is used for the creation of catalytic converters in the automobile industry

I know this metal is extremely volatile just like all other metals but can anyone check price that it goes for today? It has said to trump white gold sometimes

I'm just getting mixed information here about this one. So Bobover. Is it a good metal to invest in the nearby future?

Rhodium is a component of platinum deposits and and it is found in the earth's crust at the rate of .0001 gram per metric tonne. That's about 100 times less than platinum and 10 less than iridium or palladium. With the exception of the inert gasses krypton and xenon, rhodium is the rarest of the non-radioactive elements.

What do you think white gold is? Among the Chinese the term is used as a translation of their term for platinum, but among western jewelers, white gold is simply gold with a dash of nickel or palladium to harden and decolorize it. Rhodium btw is one of the few elements that hardens gold w/o changing its color. Copper reddens gold and silver gives it a greenish tint.

[Arab Nights (imported)]

Every element has an average crustal content and I think every element is subject to geologic processes which enrich it significantly above that average. The best of those enrichments are called mines.

[Losethem (imported)]

If you dig it out of the ground, you sell gold as a gemstone, not for the metal value. Specimen gold usually sells anywhere from a 50 to 100% mark-up from pure gold, even though it's usually only about 80% gold and 20% other stuff.

--LT

[Dave (imported)]

Yes, but bear in mind the Italians would re-elect Berlusconi with more than a majority of the vote if he could or would run for president again. And they still might build a shrine to his bunga bunga parties.

So why should the pope be celibate?

(and I just broke my promise that I wouldn't be mean to the next pope, bad dave, bad, dave, bad dave...)

I said that on February 23rd and what the hell happened today...

Enough people protested and voted for Burlesconi's old buddies or new crazy candidate in protest...

Berlusconi was against Austerity and fought with the World and EU Banks

And that is why the DOW fell over 200 points today. S&P and NASDAQ did too.

This is the thread and Post #72

http://www.eunuch.org/forums/showthread ... post231411