GoldBay Discussions - Buying Gold

Check this out

2011-08-02T17:28:55Z

ebay, 330592029870

Lets see what you guys have to say.

Would you buy this gold ??

2011-07-25T01:36:43Z

I can't believe anyone would buy this gold, but some new guy might, this his listing,,,

You will be receiving 1 big nugget and 1 or 2 tiny nuggets if possiblity because of their limited number on sale. The picture I provided above shows you how big they are to a dime. happy bidding.

So what do you get 2 flakes or 3 flakes ?? Look at the wording "1 BIG NUGGET" that is just a down right lie, it is a flake not even a picker NOT EVEN CLOSE to being A NUGGET. There is no weight given so my guess is you'd get 2 tiny flakes. You know some new guy might buy this thinking he is getting a deal, but really he is getting screwed. Heck, this guy is gonna send you the two tiny ones, why, because he can. This is exactly how I got ripped off. Now would you buy this ?? NO YOU WOULDN'T and to me this isn't doing business, it is a clear cut case of ripping off a new, UNEDUCATED buyer.

Calculate gold price

2011-05-23T15:56:49Z

To buy gold you first need to know gold price and how to calculate the price of gold per the unit of gold your buying. What I mean by unit is are you buying 1 ounce? 1/2 ounce? 3 grams, 13.25 grains? 2.3 dwt (pennyweight)? or other?

Gold is measured by troy ounces which is not the same as regular ounces a regular ounce is 28.35 grams and a troy ounce is 31.103 grams so its heavier!! Its important to know this because you wouldnt want to pay for 1 ounce of gold and find out that someone used the 28.35 grams as the weight of your ounce.

Most people will sell gold by the gram or grain or pennyweight (dwt) as to avoid the confusion over the 2 different types of ounces, so lets look at how to calculate gold price.

1 troy ounce = 31.1 grams

1 troy ounce = 20 dwt (pennyweight)

1 troy ounce = 480 grains

Knowing all of the ratios above you can calculate the price of gold for any unit by using the following formulas - Lets use for this example that gold is $800.00 per ounce and we want to figure out the price of gold per gram, to do this you divide 800.00 by 31.1 (there are 31.1 grams per ounce) to come up with a figure of $25.72 per gram of gold. Another way to calculate the price of gold is by the grain (NOT GRAM), to do that you take the $800.00 per ounce and divide it by 480 (480 grains per ounce) to come up with a figure of $1.66 per grain. Finally we can caculate the price per DWT (pennyweight) by dividing the $800.00 per ounce by 20, to come up with $40.00 per DWT. This is just the basics on how to calculate gold price per unit.

Feel free to reply with any questions or comments you have!

mlgdave

Newbie wants to buy some gold

2011-04-18T21:06:17Z

Hi everybody. I'm new to GoldBay and honestly before today... haven't even heard of it before. I want to buy some gold to collect, and to surprise my kids next time we pan out or cons. Living in Wisconsin, we don't get much more than a few tiny flakes and I want to see the look on their face if they see a couple pickers in there!

I'm looking to buy just a couple grams of pickers for now... but honestly, I'm a little leary of this site. I was planning on buying some on Ebay but this place looks pretty promising. I'm looking at the 11.5 Grams for 412.00 right now, or something along that line. Is something like that common around here?

I guess I'm just hoping that I'll get a few responses from this to let me know it's an active site before I buy. Also is PayPal the preferred method of payment, and does this site pretty much work exactly like Ebay? I don't see "current bid" anywhere though... am I missing it?

Thanks for your help and I hope to but lots of gold here!!

So youve decided to buy gold nuggets, this may help you!

2010-07-22T22:40:01Z

you want to buy gold nuggets and dont know much about that. This article is to help you buy gold in the form of gold nuggets or gold specimens and be satisfied with your choice.
Gold is a metal found in nature in 2 forms, metallic and sulphide (or chemically bonded to other materials), in its metal form its found as nuggets or specimens and is visible to the naked eye and can be panned, sluiced, metal detected, dry washed and is the type of gold that is sought after by recreational prospectors and hobbyists and larger mining companies. Gold in its chemical form is more often sought after by larger mining companies that have large budgets to do exploration work via drilling programs, 3d mapping, magnetometers etc, not to say that a recrational prospector cant find gold in this form but its less likely.
Experts say that only 5% of the earth reserves of gold have ever been found and mined, and of that 5% thats been found 95% is invisible to the naked eye and is found in tons of rock and crushed and leached out and then melted and poured into bars, which in turn is made into jewelry, made into coins, bars, bullion, and used in industry, which leaves us 5% that is in the form of natural nuggets and specimens that we so enthusiastically prospect for and then buy, sell, collect, hoard, talk about, dream about and perhaps even lust over.

Most new buyer of gold want to get their feet wet by buying a small amount of gold for a reasonable price and then look to see where they can do that. Ebay is very popular place to buy raw gold nuggets and there are a lot of sellers there, unfortunately IMO there are a lot of sellers there who misrepresent the gold they are selling and the buyer may be left with a sour taste in their mouths to never come back.
YES gold nuggets are rare in the grand scheme of things, so rare in fact that in nature a 1 ounce gold nugget is rarer that a 5 carat diamond, however that said I want to point out that there is a common enough occurance of smaller gold nuggets as to be able to buy and sell them for very close to spot price (spot price is the price paid on the world market in USD for 1 troy ounce of 99.9999% pure gold). When I say a common ennough occurance of smaller gold im talking about all gold nuggets that are aproximately match head in size and smaller, in ANY quantity. Yes you may a small premium for small quantities of gold (1 ounce or less) but you certainly should be getting good value for your money, if your paying more than 15% OVER spot, your paying too much as I will consistently sell high quality gold match head size (#8 screen) or smaller, for NO MORE than 10% over spot. I encourage you to shop around on Ebay or other sites and then come back here and get your feet wet safely for only $20.00 and then if your satisfied with what you biught and want to further your purchases there are many members on goldbay to help you with that!!

mlgdave

Gold is NOT in a bubble

2009-12-23T01:58:04Z

great article from kitco
http://www.kitco.com/ind/Lewis/dec162009.html

dave

The ONLY Reason to buy gold. (Take 15 seconds to read this)

2009-12-14T19:41:26Z

If you had invested only 10% of your savings in Gold on January 1st, You would have earned 40%.

If you left the other 90% in the bank earning 0% interest, you would have averaged 4% returns on your entire savings.

Enough said.