Gold hits another all time high, now over $3.400.

[pedro47]

Are thoses old China gold Panda coins or old 18 karat gold jewelry worth anything ?

 

[Ralph Sir Edward]

Are thoses old China gold Panda coins or old 18 karat gold jewelry worth anything ?

If this is a serious question, the answer is yes. (Make certain the jewelry is hallmarked as 18 karat.)

 

[pedro47]

If this is a serious question, the answer is yes. (Make certain the jewelry is hallmarked as 18 karat.)

The jewelry are all stamp/mark 18k.

 

[Ralph Sir Edward]

The jewelry are all stamp/mark 18k.

There isn't much of a market for used jewelry in the US. I would recommend you search for gold refiners, and communicate with one about selling the gold for melt. The going rate has been 90-92% of spot, but with the current market mania, I don't guarantee anything. If you are just needing a current guessimate, weigh the jewelry, multiply by .75 (18K is 75% gold) and then by .90 (90% of spot) and then the spot price.

Gold pandas (some early ones) can have a collectors premium, but you would have to research what you have. You could sell to any big bullion dealer, or melt it like jewelry. (all Pandas are .999 fine gold - weight time .90 (melt discount))

Hope this helps.

 

[Carolinian]

@Carolinian What do you think about the gold to silver ratio these days ? It use to be that silver was a buy at 80 to 1. Now it's about 108 to 1 which seems like buying time for silver.

Bill

Our own latest buy was all silver. Silver is both a monetary metal with an FX cross and an industrial metal. Demand has outstripped mine supply for several years and it looks like that will get worse. The problem with silver is that it is more bulky and that has storage issues.

 

[Carolinian]

I swear people TRY to get this stuff wrong. China recently ALLOWED its insurance companies to put one percent of their assets into gold. I have read that "ALLOWED" over & over & over again. Note the difference? Somebody is getting it wrong.

You might want to contemplate that words often have a different meaning in a command economy in a communist-run state.

There is another thing people often overlook in China and that is their "shadow banking" system. Unlike official banks, the shadow banks do not do the same reporting. That makes it a convenient mechanism for engaging in transactions that they do not want public. There are widespread beliefs, but no way to directly prove it, that the shadow banking system is being used to dump dollars and probably also to accumulate gold.

 

[WaikikiFirst]

You might want to contemplate that words often have a different meaning in a command economy in a communist-run state.

EXACTLY what I expected you to say. Everything is back-room & conspiracy for precious-metal people. I have always and only warned people about believing anything that comes out of CCP PR, and you & I have been proven right over & over again. But that doesn't mean you just flatly mis-state other people's statements without some serious proof to back yourself up

 

[easyrider]

Our own latest buy was all silver. Silver is both a monetary metal with an FX cross and an industrial metal. Demand has outstripped mine supply for several years and it looks like that will get worse. The problem with silver is that it is more bulky and that has storage issues.

Silver does present some challenges. Selling an ounce of gold is a lot easier to manage than 108 ounces of silver. The gold to silver ratio mean is about 60 to 1 which would give silver a ratio value of about $57 an ounce should prices follow the mean. To me it looks like a bargain.

Bill

 

[easyrider]

Gold:Silver ratio is an artifact of people believing in such a thing as a Gold:Silver ratio. Either that or maybe you know about some offshoot of ALCHEMY that can turn silver into gold at some specific ratio, perhaps based on molecular weight or the phase of the moon.
The fact that gold has left the ratio behind tells you who dominates the market now ... and that it is NOT people who believe in a short-cut G:S ratio.

Define a market structure where a tight G:S ratio makes sense. Define it. So, what we have now fails to meet that definition. One day, the market will most likely revert to a structure similar to my view of that definition, and the G:S ratio will, once again, someday, but whoknowwhen?, come near or hit 80:1.

or, maybe the supply of silver is up because the economy is so bad (insert click-bait headline here) that people are yanking out the silver fillings from their teeth and selling them. Maybe?

The silver to gold ratio is an average historical balance which creates a means. The means for this ratio is 60 to 1. When silver prices are below 60 to 1 it could be a good time to sell. When it's above 60 to 1 it could be a good time to buy. Currently it's 108 to 1 which signals buy.

I think the main reason silver has a disconnect from the usual ratio is because the global economies are crashing and investors are buying gold in front of the coming global depression for it's safety as a tangible store of wealth.

Bill

 

[pedro47]

There isn't much of a market for used jewelry in the US. I would recommend you search for gold refiners, and communicate with one about selling the gold for melt. The going rate has been 90-92% of spot, but with the current market mania, I don't guarantee anything. If you are just needing a current guessimate, weigh the jewelry, multiply by .75 (18K is 75% gold) and then by .90 (90% of spot) and then the spot price.

Gold pandas (some early ones) can have a collectors premium, but you would have to research what you have. You could sell to any big bullion dealer, or melt it like jewelry. (all Pandas are .999 fine gold - weight time .90 (melt discount))

Hope this helps.

I liked your suggestions. Thanks for sharing your knowledge.

 

[Carolinian]

EXACTLY what I expected you to say. Everything is back-room & conspiracy for precious-metal people. I have always and only warned people about believing anything that comes out of CCP PR, and you & I have been proven right over & over again. But that doesn't mean you just flatly mis-state other people's statements without some serious proof to back yourself up

I worked for five and a half years in a formerly communist country and also worked in some other nearby formerly communist countries periodicly with our staffs there. I still do some short to medium term assignments there from time to time. I suspect I have more background in how things work under communism than you do.

 

[DrQ]

Are thoses old China gold Panda coins or old 18 karat gold jewelry worth anything ?

The jewelry are all stamp/mark 18k.

Many dealers that accept gold coins will accept gold jewelry for melt value (or even resale). Panda's are easier to accept because they are a known entity as are other coins (American Eagles, Canadian Maple Leafs, South African Krugerrands ...), gold and silver bars are different as they may need to be assayed.

 

[Carolinian]

The silver to gold ratio is an average historical balance which creates a means. The means for this ratio is 60 to 1. When silver prices are below 60 to 1 it could be a good time to sell. When it's above 60 to 1 it could be a good time to buy. Currently it's 108 to 1 which signals buy.

I think the main reason silver has a disconnect from the usual ratio is because the global economies are crashing and investors are buying gold in front of the coming global depression for it's safety as a tangible store of wealth.

Bill

There is also a historic pattern. Silver usually lags gold on the way up, but once its momentum really kicks in, it can beat gold on percentage increases. Will that pattern play out this time? It is not guaranteed, but it is worth watching. Gold is often driven by central banks, as it is this time, but silver is driven by other players, although this time a couple of central banks are reportedly putting their toes in the silver market to some extent. Given storage issues, I would still not expect too much central bank interest in silver.

 

[Brett]

I worked for five and a half years in a formerly communist country and also worked in some other nearby formerly communist countries periodicly with our staffs there. I still do some short to medium term assignments there from time to time. I suspect I have more background in how things work under communism than you do.

Well that explains a lot.
I've only worked in a capitalist country and achieved long term financial success through stock index funds
https://www.macrotrends.net/2608/gold-price-vs-stock-market-100-year-chart

 

[easyrider]

Are thoses old China gold Panda coins or old 18 karat gold jewelry worth anything ?

I wouldn't buy any precious metals from China. If you plan on buying precious metals always choose a reputable mint from the USA, Canada, Mexico, Australia and South Africa. Also choose a reputable dealer in the USA.

Bill

 

[pedro47]

I wouldn't buy any precious metals from China. If you plan on buying precious metals always choose a reputable mint from the USA, Canada, Mexico, Australia and South Africa. Also choose a reputable dealer in the USA.

Bill

To late, I purchased Panda coins over thirty years ago or more.

 

[easyrider]

To late, I purchased Panda coins over thirty years ago or more.

Some of those older gold pandas are worth a bit more as they are collectible. They are definitely worth as much as any other gold coin, imo. The one problem with pandas are they are or were easier to counterfeit.

Bill

 

[WaikikiFirst]

I suspect I have more background in how things work under communism than you do

I'm sure you do, but does that mean you feel free to blatantly mis-quote them? Listen, I don't believe a single thing the CCP says/writes. I feel sorry for Americans who can't internalize what the CCP is. I had that conversation with pro investors a dozen times between the mid-90s and mid-00s. And, any one of those who weren't quick to change his mind ended up losing $$$ by betting on China.
I do NOT deliberately mis-quote them. But, then, sticking to the facts is how I tend to stick out like a sore thumb.

 

[WaikikiFirst]

Well, I guess China is dumping gold & hoarding US T-Bonds today!!!!!!!
People who actually believe the MSM all developed IBS a long time ago. Fool you once ...

 

[WaikikiFirst]

and the financial mkts once again prove that the hardest thing about "beating" them is being able to gauge just how RIDICULOUS they can be day by day. It is not how
EFFICIENT they are.
It is how ADD and ridiculous they are. ANd now, back to the brain-dead EMH marketing material ...

 

[emeryjre]

The addage:
Sell it when they are yelling
Buy it when they are crying
Has served me well over the years

 

[jabberwocky]

Here are my observations as someone who frequently travels to China and conducts business there based on my discussions with contacts there (some of whom are nominal members of the CPC).

1. The Chinese central bank does not want to have the same thing happen to them as what happened to Russia when the US froze Russian assets. It’s harder for the US to seize physical gold held in China than it is to simply refuse to pay back US Treasury securities.

2. As of two weeks ago, when I was last there, there was a significant premium for
physical gold within China relative to outside China because of import controls and currency restrictions. For instance, bullion products in Shenzhen were about $40 USD/oz more than the same products just over the border in Hong Kong.

3. Many of the members of the communist party in China will tell you that there is no communism in China. It is “socialism with Chinese characteristics”. They like money just as much as anyone in a “free market” economy.

 

[Brett]

Here are my observations as someone who frequently travels to China and conducts business there based on my discussions with contacts there (some of whom are nominal members of the CPC).

1. The Chinese central bank does not want to have the same thing happen to them as what happened to Russia when the US froze Russian assets. It’s harder for the US to seize physical gold held in China than it is to simply refuse to pay back US Treasury securities.

2. As of two weeks ago, when I was last there, there was a significant premium for
physical gold within China relative to outside China because of import controls and currency restrictions. For instance, bullion products in Shenzhen were about $40 USD/oz more than the same products just over the border in Hong Kong.

3. Many of the members of the communist party in China will tell you that there is no communism in China. It is “socialism with Chinese characteristics”. They like money just as much as anyone in a “free market” economy.

Not only import controls and "liking money". The Chinese stock market is very different from US stock exchanges in areas such as financial reporting, company audits and ownership disclosure.

.

https://www.macrotrends.net/2608/gold-price-vs-stock-market-100-year-chart

 

[rickandcindy23]

Everyone knows paper money don't hold:

Paper Money by Rick's brother, Ronnie Montrose, sung by Sammy Hagar. I hope the link works.

 

[RENTER]