Gold and Silver Discussion Thread

[RVCrusher]

So it happened, I have been struck by the Gold and Silver bug...

If any of you have seen the newest episode of Pawn stars, this guy walks in with over 3000 oz of silver! and he wanted to sell it, they tested this 75 pound bar of silver (the biggest bar of the collection, rick seemed hesitate about it because of how big and the odd weight of it) The silver tested good and it was all pure silver.

They ended up making a deal for..over $100k, I don't want to spoil the actual number figure if anyone reading this has not seen it.

The episode I'm talking about : 3,000 OZ of Silver Sold on Pawn Stars - YouTube

So like I said I have been bitten by the Gold and Silver bug and I am hooked!

I have already bought a few (1) gram silver bars on Ebay, I know...I know...They are EXTREMELY small and really didn't know anything at the time i purchased them, but it was worth the lesson it taught me for sure lol I have heard don't really buy anything under an oz of silver because your going to pay more of a premium and that makes a lot of sense for sure.

I know there are probably people that are REALLY into gold and silver on this forum and people that are just getting into it like myself, this thread should appeal to all kinds of people that are interested in gold and silver.

I'm looking forward to learning a lot and chatting about gold and silver with everyone!


A couple question I have...

So as i mentioned above..as part of the learning process, I purchased a few (1) gram silver bars, and not only are they a ridic small size, but i paid like 3x over melt price for them, which I didn't know I was doing lol..

with that said, I was starting to look at gold and silver is at $28 an oz and gold is at a whopping $1600 an oz! So to even buy a gram of gold is $57 and kinda like a lil crazy in my opinion..So i was looking at some (1) grain of gold bars, and apparently from my research a grain is 1/15th of a gram, so if a gram of gold is $57, a grain would be 1/15th of $57 right? Thought that would be a good opening question for a couple reasons, one being I'm reallly confused about it and I might not be the only one that is confused

Another question...

Also I have been seeing "bullion" bars, had two questions really, what is a bullion bar like why call it a "bullion" bar? and being a "bullion" bar is it worth more then melt/scrap value?


Looking forward the great discussions about Gold and Silver!

[RVCrusher]

Also I have seen 24k Gold OVER pure silver bars, LOL..My question about that, well I have two..Does the 24k gold over the pure silver increase the value because of the gold content? or is a 24k gold over pure silver bar worth less than a pure silver bar (same weight) because it is two different metals now?

[psy0nyd3]

All I know is that gold doesn't rust and silver turns black with age.

According to Wiki it says that bullion is just basically the term used for bulk precious metals and the value of bullion is based only on weight and purity. Also says gold and platinum coins trade at market value but for silver ones extra 'collectible' value is added.


Interestingly enough as a sidenote, an economy that is based on gold and silver doesn't have inflation.

[RVCrusher]

If anyone can tell me what (1) grain of gold is worth, i will give you 25 points, first person to post in here the correct answer wins


gogogogogogo

[psy0nyd3]

1 grain of gold is worth $3.37!

[RVCrusher]

1 grain of gold is worth $3.37!

link me to your source

[abwil2]

1/7000th of a pound. i got that from How much is a grain of gold

Or 31.998

[SendCookies]

go to kitco.com. I would go into this but, simple advice. Gold does not diminish. Our supply of it world wide only increases. So, unless we start shipping it out into space there is actually more gold today then when it was sub $200 an ounce. That being said, with the money you are talking bout investing in gold/ precious metals, Looking buying derivitive funds dealing in the spot pricing of gold. Same thing but, you'll get more bang for you buck and you get bet it the other way too.

[vcapps01]

silver is the way to go, gold is far to expensive to deal in so for less money you can make a good profit on silver

[LvegasL1]

Silver is the way to go if you are limited on funds. Nether one will do you wrong in the long run. But i personally would go with the silver for a long term investment.