Author Topic: Accidentally purchased an extra 2016  (Read 2951 times)

0 Members and 1 Guest are viewing this topic.

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Accidentally purchased an extra 2016
« on: July 16, 2017, 01:47:08 AM »
I'm not the most flush with cash in the world, so it was slightly disheartening when I looked at my collection of gold only to notice I purchased a second 2016 gold 1/10 OZ panda. Does anyone have some advice for me on when and where to sell it?

I don't really trust eBay to sell gold, and I have a feeling if I wait I could get more then I put into it. ( Paid 159 USD )

Offline KeepOnTrying!

  • Supporter
  • Trade Count: (+23)
  • Hero Member
  • *****
  • Posts: 1786
  • Karma: 56
  • Gender: Male
Re: Accidentally purchased an extra 2016
« Reply #1 on: July 16, 2017, 05:45:05 AM »
You can't sell it here.
KeepOnTrying and Never Give Up!
That lion is also after you!

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #2 on: July 16, 2017, 06:40:05 AM »
That is truly Fantastic, however that also wasn't my question.

Offline Mirkkanen

  • Supporter
  • Trade Count: (+48)
  • Hero Member
  • *****
  • Posts: 1393
  • Karma: 43
Re: Accidentally purchased an extra 2016
« Reply #3 on: July 16, 2017, 01:17:46 PM »
That is truly Fantastic, however that also wasn't my question.

LOL, maybe Craigslist? A local coin shop will surely not give you anywhere near $160. Do you belong to any other forums?

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #4 on: July 16, 2017, 04:33:39 PM »
LOL, maybe Craigslist? A local coin shop will surely not give you anywhere near $160. Do you belong to any other forums?

Well I guess I have no choice but with eBay, but if I wait do you think it would rise in price? For example I thought the 2015 was over 200 now. I guess it's as good a place as ever, I just would rather make a few bucks since they are numismatic coins.

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #5 on: July 16, 2017, 05:53:00 PM »
LOL, maybe Craigslist? A local coin shop will surely not give you anywhere near $160. Do you belong to any other forums?

No other forums, so I guess the only question is when to sell. I'm not desperate for money, won't the stocks disappear soon enough? Then I can at least make money instead of lose money.

Offline pandamonium

  • Supporter
  • Trade Count: (0)
  • Hero Member
  • *****
  • Posts: 2254
  • Karma: 37
Re: Accidentally purchased an extra 2016
« Reply #6 on: July 16, 2017, 06:43:00 PM »
Keep it and be patient......price of gold/silver cannot be manipulated forever...

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #7 on: July 16, 2017, 08:29:11 PM »
I would sell it for an increased numismatic amount then repurchase gold bullion at spot price. I'm not really a big fan of panda for gold weight especially since they are giving you less gold for more.

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #8 on: July 16, 2017, 08:29:48 PM »
When do you think the stocks will go out of the 2016? They seem to be more resistant than the 2015 were.

Offline pandamonium

  • Supporter
  • Trade Count: (0)
  • Hero Member
  • *****
  • Posts: 2254
  • Karma: 37
Re: Accidentally purchased an extra 2016
« Reply #9 on: July 16, 2017, 09:25:26 PM »
I am a big fan of all pandas gold/silver/etc.     China is a rich country now as the corrupt US gave them our manufacturing thanks to Bush senior who wrote up the NAFTA agreement.   China makes wealth and owns the gold while the US produces debt and the derivative bomb.    That is why so many of us collect Chinese coins/medals.   
Have no idea when stocks will fall but they will.   Precious metal prices are manipulated by the use of paper gold/silver at the London Gold Price Fix.   It used to be about 100 oz of paper gold/silver for each physical oz of real gold/silver or 100 to 1 ratio.    Now articles say it is a 500 to 1 ratio.    The gold price will soon be controlled by the East, Hong Kong Gold Exhange and possibly the Shanghai Gold Exchange.   The East will base price on physical gold not paper as the West has for years.   It is obvious.   Suggested reading...
Goldseek or silverseek
Financial sense online by Jim Puplava
Dollarcollapse.com  ....click breaking news, precious metals....
King World News
Dave Hodges Common Sense Show
Steve Quayle
Watch FOX news on TV
Many other online sites including past links/comments on this forum all say the same thing.    Go back and read them.   Who cares if a bullion troy oz of gold is 31.1 grams while Chinese gold is 30 grams?    Keep ALL of your gold/silver minted in China.   You have some reading to do to get on board w/ the rest of this forum.....

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #10 on: July 16, 2017, 09:40:47 PM »
I appreciate your response, but do you believe China would care for Chinese gold more than other counties gold as long as its 24K .999+, Australian gold, German etc? I don't care where my gold comes from, just as long as I have a bunch of it in 24K form.

Offline pandamonium

  • Supporter
  • Trade Count: (0)
  • Hero Member
  • *****
  • Posts: 2254
  • Karma: 37
Re: Accidentally purchased an extra 2016
« Reply #11 on: July 16, 2017, 09:48:53 PM »
China is going to buy back their own gold first before other countries' fancy bullion gold and China will pay a premium.    2016 gold is high mintage but it is still Chinese.    The majority on this forum understand China is rich and we are soon going to enter into the Chinese collectible market.     Many here sell ALL bullion to buy Chinese mostly early years, varieties, etc.    Yours is paid for so keep it.    You have a lot of reading to do.    Read first then ask questions.......

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #12 on: July 16, 2017, 09:51:51 PM »
Alright well thanks for your time and understanding through your own perspective. I guess good thing is I don't own gold less than 24K, I've heard the Asian market  doesn't  really care for any gold under 999 at all. So it could have been worse for me lol

Offline pandamonium

  • Supporter
  • Trade Count: (0)
  • Hero Member
  • *****
  • Posts: 2254
  • Karma: 37
Re: Accidentally purchased an extra 2016
« Reply #13 on: July 16, 2017, 11:17:56 PM »
You may want to join a bullion forum.     This forum is for those that get the picture and love to collect Chinese......

Offline Human

  • Trade Count: (0)
  • Newbie
  • *
  • Posts: 12
  • Karma: 0
Re: Accidentally purchased an extra 2016
« Reply #14 on: July 16, 2017, 11:20:04 PM »
I collect Chinese gold and regular gold, there's no reason I cannot do both. I belong to multiple forums and came to this one for advice concerning a Chinese gold coin. Hence me being here.

Just because I don't sell all my non Chinese gold and start paying premium for overpriced Chinese gold doesn't mean you get to kick me out. I collect a Chinese coin annually, and would frankly rather a 50 gram nugget than some extremely overpriced fractional gold piece because they are deemed a " rarity. "