Buying gold and silver as an investment and/or to wear

[Drago]

Accy, yesterday.

 

[classic33]

I said that 'new' 9 Carat gold was around £50 a gram. This pendant weighs 3.2 grams, so if new gold is £50 it should be £160, yet it costs almost twice as much at £312. If someone who bought this item decided to sell it as scrap they'd get £64. That 12.2 gram 18 carat ring I mentioned at £500 is far better value for money than this new item I'd say. With that ring you wouldn't lose money, but with this pendant you'd lose approximately 79 percent of your 'investment'. 🤔

Weight: approx 3.2g

View attachment 715561

https://www.namenecklacesdirect.co....hallmarked-ingot-with-optional-engraving.html

Post, now edited, to which I replied mentioned only 18 carat gold. And the only price mentioned was for the ring, on which I said you paying for the work that went in to it.

 

[winjim]

I heard a 'gold expert' on the radio a few years ago say that all the gold in the world would only fill three Olympic sized swimming pools. Yes, those pools are big, but I would've thought there'd be tons and tons of the stuff. 🤔

I read recently that the amount of nuclear waste produced so far is equivalent to an area the size of a football pitch, stacked to a height of ten metres. So I guess we're past the gold / nuclear waste isopoint.

 

[Accy cyclist]

Well I bought it! 12.2 grams of 18 Carat gold for a bargain price of £500. I showed it to my goldsmith/jeweler friend who said it's quite a decent price and to add to the bargain price, those little shiny things in each corner are real diamonds. He got his diamond tester out and said they are diamond, not glass or whatever. He also told me that the central stone is citrine, which although nice it isn't worth much. He also polished it for me for free, adding to the bling affect of the ring.

 

[Accy cyclist]

After buying it, I showed it to a fellow shop worker from another shop I visit. She said Quote..."Yes, it's nice, but for five hundred quid you could've gone to Benidorm for Christmas"!! Mmm, should I have spent my dosh on Christmas in Benidorm, eating egg chips and beans and supping pints of lager for breakfast? 🤔
https://www.loveholidays.com/holida...=7&rooms=2&date=2023-12-21&flexibility=0&sort

 

[MontyVeda]

The issue with gold is where do you keep it sate and how do you insure it.
No point in having £10000 of gold if you’re paying £500 a year to insure it or keep it in the bank. As that’s 5% which will negate any gains.
You can hide it under the bed but that’s a big risk.

Really?

It's not like he's posting on social media about it.

 

[Accy cyclist]

Really?

It's not like he's posting on social media about it.

I just think that no one would actually rob anyone or break into their homes. Yes, maybe I'm naive, but to me such acts are total peasantry and a thing of uncivilised long gone times.🧐

 

[Accy cyclist]

I read something years ago that said that if all the gold in the world was made into a big block it could fit under the Eiffel Tower.

Thinking about this, the Eiffel Tower is very high. Maybe it's not such a 'wow' factor when you think about it. Like those 3 Olympic sized pools, these areas are vast and yes, I can see why they'd hold all the gold in the world...I think.🤔

 

[winjim]

Thinking about this, the Eiffel Tower is very high. Maybe it's not such a 'wow' factor when you think about it. Like those 3 Olympic sized pools, these areas are vast and yes, I can see why they'd hold all the gold in the world...I think.🤔

I think the equivalent measure of platinum is one swimming pool to the depth of about three inches or something. It's a tiny amount.

 

[Accy cyclist]

I think the equivalent measure of platinum is one swimming pool to the depth of about three inches or something. It's a tiny amount.

The goldsmith's wife I know has a platinum and diamonds eternity ring, worth over £20,000. I asked her the other week if I could take a photo of it, but she said no. She's a bit funny that way. Platinum is very rare, hence the price of the stuff! Yet here it's only £23 a gram, unless I'm reading it wrong.🤔

https://www.chards.co.uk/platinum-price/live-platinum-price-per-gram

 

[cougie uk]

Thinking about this, the Eiffel Tower is very high. Maybe it's not such a 'wow' factor when you think about it. Like those 3 Olympic sized pools, these areas are vast and yes, I can see why they'd hold all the gold in the world...I think.🤔

I heard a cube under the Eiffel tower so only as tall as it's wide.

 

[winjim]

I heard a cube under the Eiffel tower so only as tall as it's wide.

Does it have to fit through the arches? Because I think they're wider than they are tall although the space inside them is bigger if you're not bothered about transporting your cube in and out.

 

[Drago]

I think the equivalent measure of platinum is one swimming pool to the depth of about three inches or something. It's a tiny amount.

Interestingly, platinum is the only metal that can be alchemied into gold. Clearly though its a financially pointless exercise.

 

[Reynard]

The goldsmith's wife I know has a platinum and diamonds eternity ring, worth over £20,000. I asked her the other week if I could take a photo of it, but she said no. She's a bit funny that way. Platinum is very rare, hence the price of the stuff! Yet here it's only £23 a gram, unless I'm reading it wrong.🤔

https://www.chards.co.uk/platinum-price/live-platinum-price-per-gram

The big part of the value of an an eternity ring will be the quality of the diamonds. The fewer inclusions, the clearer the colour and the bigger the diamonds, the higher a price they will command.

Which I actually find quite funny, as diamonds are actually pretty common things. Just like Rolex watches, the "cachet" has been created by some very inventive marketing. And by restricting the amount that comes to market.

 

[winjim]

Interestingly, platinum is the only metal that can be alchemied into gold. Clearly though its a financially pointless exercise.

That's basically the plot of Goldfinger though. Make everybody else's worthless.