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Author Topic: [WTB] Kilogram bar of gold  (Read 1913 times)
sega01
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November 08, 2013, 03:18:04 PM
 #1

Hey everyone,

As Bitcoin rises in value, I am considering making a switch to gold. I don't quite have the money yet, but am possibly interested in trading Bitcoins for a kilogram bar of pure gold. Looking to pay less than Agora Commoditie's rate, but I imagine you'd want me to pay more than their buying rate.

Again, I can't quite do this at the current market rate, but probably can very soon. Please PM me or email me if interested.

Thanks,
Teran

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alinix
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November 08, 2013, 03:41:20 PM
 #2

Hi Teran,

Have been looking into doing something similar on a smaller scale my self, since I can get a lot more Gold for my BTC now Smiley

1oz Bars for 4.0900 BTC on www.coinabul.com

Not found anywhere online that sells 1KG bars for BTC though,

Keep us posted :-) 

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November 08, 2013, 03:46:01 PM
 #3

Hi Teran,

Have been looking into doing something similar on a smaller scale my self, since I can get a lot more Gold for my BTC now Smiley

1oz Bars for 4.0900 BTC on www.coinabul.com

Not found anywhere online that sells 1KG bars for BTC though,

Keep us posted :-) 

Hi alinix,

That's for sure! I love Bitcoins, but there's nothing quite like gold in hand.

Algora Commodities actually has them for sale. I've not personally worked with them before, but the site looks pretty nice and they are the only place I've seen that sells kilogram gold bars: https://agoracommodities.com/product/1-kilo-gold-bar-32-15-oz/

It's amazing what's for sale online with Bitcoin these days!

Sincerely,
Teran

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November 08, 2013, 03:54:23 PM
 #4

Hi Teran,

Have been looking into doing something similar on a smaller scale my self, since I can get a lot more Gold for my BTC now Smiley

1oz Bars for 4.0900 BTC on www.coinabul.com

Not found anywhere online that sells 1KG bars for BTC though,

Keep us posted :-) 



Don't use Coinabul! They are a bunch of scammers. They owe a lot of people money.

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SaltySpitoon
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November 08, 2013, 03:56:38 PM
 #5

Don't use Coinabul! They are a bunch of scammers. They owe a lot of people money.

This, Coinabul is very untrustworthy. I'd recommend Angora, or Amagimetals

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November 08, 2013, 04:19:50 PM
 #6

a kg is currently around 120btc. i think i would want f2f and guard for that amount.

space for rent, shilling for sats
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November 08, 2013, 04:50:25 PM
 #7

If I were you go for smaller bars for better liquidity.

In the future you may need to free up a few $1000 and could just sell a couple of bars.

Also easier to shift smaller bars and 1oz isnt that much more of a premium
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November 08, 2013, 05:59:44 PM
 #8

If I were you go for smaller bars for better liquidity.

In the future you may need to free up a few $1000 and could just sell a couple of bars.

Also easier to shift smaller bars and 1oz isnt that much more of a premium


I would agree. If you are buying only 1kg, break it up.

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alinix
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November 08, 2013, 07:18:05 PM
 #9


[/quote]

Don't use Coinabul! They are a bunch of scammers. They owe a lot of people money.
[/quote]

[/quote]

This, Coinabul is very untrustworthy. I'd recommend Angora, or Amagimetals
[/quote]

Thanks for the heads up folks, was very close to clicking the "buy" button today with the price drop in Gold,

This forum is a mine of great info :-)
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November 09, 2013, 03:02:17 PM
 #10

You should try bitcoin commodities  Smiley
price for a 1kg gold bar: 120,9228BTC, EU seller also offering dropshipping for us. I think you have to provide a valid ID.
You can trust dennis, i've done a few purchases  Grin

To the moon!!! ┗(°0°)┛
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November 09, 2013, 03:03:21 PM
 #11

Fear the tungsten in buying big bars Smiley

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November 10, 2013, 03:57:10 AM
 #12

I've been using amagimetal without one complaint. Quick shipping and good packaging.
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November 10, 2013, 04:18:00 AM
 #13

Fear the tungsten in buying big bars Smiley

Oh yeah, that. I really wouldn't buy a bar that large without acess to an ultrasound machine to make sure there isn't a tungsten insert somewhere.

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November 10, 2013, 04:26:05 AM
 #14

I'll just put in my two cents here...don't go for a kilogram bar. Yeah it would be awesome, but there are a lot of cons.
1. You can only have 1 payday (as opposed to buying several 1oz bars and trading as desired)
2. Larger bars are more commonly weighted w/lead or something because there are barely any manufacturers that produce 1kg bars...so you have smelters doing it themselves. A PAMP bar is a lot better than some bar you'd have to assay anyway.
3. You won't be saving a ton of money. There are plenty avenues to buy gold in increments of an oz for hardly over spot.
Just a few things to think about!
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November 10, 2013, 06:50:19 AM
 #15

I'll just put in my two cents here...don't go for a kilogram bar. Yeah it would be awesome, but there are a lot of cons.
1. You can only have 1 payday (as opposed to buying several 1oz bars and trading as desired)
2. Larger bars are more commonly weighted w/lead or something because there are barely any manufacturers that produce 1kg bars...so you have smelters doing it themselves. A PAMP bar is a lot better than some bar you'd have to assay anyway.
3. You won't be saving a ton of money. There are plenty avenues to buy gold in increments of an oz for hardly over spot.
Just a few things to think about!

#3 --  I think that's why I favor silver over gold for the larger bars.  You can easily do a test with a rare earth magnet and mix in the "ping" test for proper sound.  With gold, you need to be extra extra careful and fire up that ultrasound machine. 
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November 10, 2013, 07:05:19 AM
 #16


#3 --  I think that's why I favor silver over gold for the larger bars.  You can easily do a test with a rare earth magnet and mix in the "ping" test for proper sound.  With gold, you need to be extra extra careful and fire up that ultrasound machine.  

Just as dangerous with silver. I ultrasound test large silver bars as well, because lead is dimagnetic, so you can put a lead insert into a silver bar, and the difference when doing the magnet test may be negligible. Really lead is less diamagnetic, but there will still be a force. Some base metals have a very similar ring, and the shape of your bar also changes the sound, so a good fake manufacturer can figure out how to shape the bars so that the sound comes out right. That takes a lot of effort, but for larger bars its worth it for them.

Sorry for being slightly off topic, I don't know quite as much about testing gold, so I would probably make sure you buy from a reputable dealer. If you are going to acid test small 1oz bullion, be sure you aren't getting anything for its collector value, as you need to cut into the coin to properly acid test it, and it will completely ruin any collector value.

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November 10, 2013, 03:22:38 PM
 #17

I appreciate all of the advice here. I admit, I'm on the fence about the one-kilogram wonder bar.

I'm not looking for this to be my single investment, or SHTF stock. I have smaller coins and such that can more easily be traded with for that scenario.

I understand that fraud is more of an issue with larger bars. Both real fraud and speculative fraud and its affects on trade and trust. I am definitely most interested in a PAMP bar and they do seem to have a wonderful reputation.

But, let's consider the upsides and please tell me if you think they are not enough to outweigh the downsides:

It's a kilogram of gold. Probably the nicest thing to hold on earth, aside from more even gold.
It's a kilogram. As an American wanting to switch to the metric system, that's pretty cool in and of itself.
Some big investors may only deal with larger quantities of gold. They may not consider the one-ounce coins/bars, but only want to work in larger increments like the kilogram. As I understand it, the kilogram is the smallest unit at some exchanges.
Slightly less spot price overhead.
As a bartering tool, for say a house, it'd be pretty effective to the right buyer. Say a few years down the road that gold bar's market value is $200,000 and I want to buy a $250,000 house. Plopping down this gold bar might get me a deal on the spot.

Are any of these legitimate points here, or do you think my carnal mind wanting to feel a kilogram of gold is overruling good logic? If I have other goods and bullion to trade, having a single large bar and other smaller bars shouldn't be so much of an issue. I'm planning on this being a long term investment bar, not so much something to get me out of a bind.

All of that said, it is harder to find investors willing to plop down $40k for a bar. Let alone, $150k which it could be "worth" in a few years.

Maybe 100 or 250 gram bars are a better option? What do you guys think, if you were millionaires, would a kilogram bar be more alluring, or several smaller bars equaling a kilogram? If this is really the wrong thing to do I can buy smaller bars. Ultimately, I hope to moving up and up the ladder trading with people of deeper pockets, rather than moving down the ladder. But, I also want to be quite realistic here. Smaller denominations give me the ability to sell to multiple parties which can be helpful.

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November 10, 2013, 04:20:58 PM
 #18

I appreciate all of the advice here. I admit, I'm on the fence about the one-kilogram wonder bar.

I'm not looking for this to be my single investment, or SHTF stock. I have smaller coins and such that can more easily be traded with for that scenario.

I understand that fraud is more of an issue with larger bars. Both real fraud and speculative fraud and its affects on trade and trust. I am definitely most interested in a PAMP bar and they do seem to have a wonderful reputation.

But, let's consider the upsides and please tell me if you think they are not enough to outweigh the downsides:

It's a kilogram of gold. Probably the nicest thing to hold on earth, aside from more even gold.
It's a kilogram. As an American wanting to switch to the metric system, that's pretty cool in and of itself.
Some big investors may only deal with larger quantities of gold. They may not consider the one-ounce coins/bars, but only want to work in larger increments like the kilogram. As I understand it, the kilogram is the smallest unit at some exchanges.
Slightly less spot price overhead.
As a bartering tool, for say a house, it'd be pretty effective to the right buyer. Say a few years down the road that gold bar's market value is $200,000 and I want to buy a $250,000 house. Plopping down this gold bar might get me a deal on the spot.

Are any of these legitimate points here, or do you think my carnal mind wanting to feel a kilogram of gold is overruling good logic? If I have other goods and bullion to trade, having a single large bar and other smaller bars shouldn't be so much of an issue. I'm planning on this being a long term investment bar, not so much something to get me out of a bind.

All of that said, it is harder to find investors willing to plop down $40k for a bar. Let alone, $150k which it could be "worth" in a few years.

Maybe 100 or 250 gram bars are a better option? What do you guys think, if you were millionaires, would a kilogram bar be more alluring, or several smaller bars equaling a kilogram? If this is really the wrong thing to do I can buy smaller bars. Ultimately, I hope to moving up and up the ladder trading with people of deeper pockets, rather than moving down the ladder. But, I also want to be quite realistic here. Smaller denominations give me the ability to sell to multiple parties which can be helpful.


Do your home work,  it was a 10oz pamp bar that sparked the whole tungsten scare -

http://www.youtube.com/watch?v=ZXm8Ibax6JA

Stick to 1oz bars, best balance between liquidity and small premiums
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November 10, 2013, 04:45:32 PM
 #19

Its really up to you, you can get the 1KG bar if you really want it, we are just letting you know the posible downsides. As an American that wants to use the Metric system, Troy ounces is a metric conversion as well  Smiley

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November 10, 2013, 04:58:52 PM
Last edit: November 10, 2013, 05:12:30 PM by OleOle
 #20

Agreed. Listen to the folks on this thread, they're trying to save you from making a possible mistake that could cost you a lot of money. The way you are acting you're either trying to get ripped off or trying to persuade yourself that there's no downside risk. Get a grip of yourself. If you want a kilo, buy it from a LMBA approved mint, no-where else.

 Undecided


-----

For example:

Check:

http://www.lbma.org.uk/pages/index.cfm?page_id=147&title=good_delivery_lists

Ascertain guarantee:

http://www.perthmint.com.au/310-pm-cms-collect/content/investment_invest_in_gold_government_guarantee.aspx

Purchase:

http://www.perthmintbullion.com/au/Buy-Gold-Bars/1kg-Cast.aspx?productId=23


Now, based on your jurisdiction, find a mint that might be able to assist you. Or splash your cash, you might get lucky and hey, if you don't test your bar, maybe you can live in ignorance?

Good luck with it all.

Smiley




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