GOLD

[Aussie]

Its interesting to note that I was told by New Zealand mint that once the gold was bought and waiting for delivery[4-6wks?] that you could still sell your gold if it rose which I suppose takes a little of the uncertainty out of the situation[its still sell at 1% below spot though]
i guess threre is still a big advantage to having it physically right away but ofcourse there is no guarantie you are getting the real thing and i would be very nervious putting $2000 into someones bank acc and then waiting for the supposeably gold coin.

Don't know for sure, but I'd be surprised if NZ Mint didn't pay at least spot for incoming gold Kiwis. Since there are precious few sellers and a wait of 4-6 weeks, I'm sure they would jump at the chance to acquire immediate inventory and would likely be calling a buyer . . . for another quick 6%!

But people sure seem to be happy enough to acquire them on TM and that's a better price than you'd ever get from the NZ Mint - they will have to meet the market to some degree IMO.

[srowe]

they still claim they buy at spot-1% but like you say,they may be open to neg.
They also said they were uping the sell % from 7 to 8 but would still sell me at 7% since I bought once before at that rate.
It would be interesting to call and ask and see whether they were bulsh----g me

[arco]

they still claim they buy at spot-1% but like you say,they may be open to neg.
They also said they were uping the sell % from 7 to 8 but would still sell me at 7% since I bought once before at that rate.
It would be interesting to call and ask and see whether they were bulsh----g me

I just rang them and they confirmed Spot +8% and buy back -1%

They also said they now have an additional new supplier in Europe so lead in times should shorten. (currently 3-4 weeks)

Kiwi 1oz $1840 - currently Gold.NZD = $1691. Approx 9% premium



arco

[srowe]

Its 9% because the spot we see is in N Z $ at the cross rate but unfortunately when we [and nz mint]buy, the bank takes thier exchange rate spread,making it 9%

I envy my mates in Montreal who can just drive over to Kitco and buy coins wih no fuss in thier own currency or better still,New York.

but look at all the other benefits here in GODZONE prob much better place to be if the probverbial sh-t hits the fan

[arco]

Received these by e-mail from http://www.rathi.com/commodities.asp

Money flow continues in gold as total gold stocks with SPDR
gold funds crossed 850 tonnes this week. Looking at this weeks
economic indicators not much seem to be in store expect the
retail sales. Funds Also increased their net long in gold by 12%
Retail sales is expected to deteriorate further taking in view the
pathetic situation of American economy. Another factor that will
be the key is passing of $937 rescue package by American senate.
This bill assumes significance as it will test Barrack
Obama’s influence in the senate. Another key factor will be the
employment scenario in U.S. with unemployment rate touching a
high of 7.5% one can expect govt to come out with some stern
measures which can bring in certain amount of optimism in the
markets. However even taking all this into considerations we
expect dollar to strengthen against major currencies of the
world. The reason is that situation is expected to deteriorate
further in European countries which will lead to problems for
euro and other currencies. We see Euro Zone following other
developed nations and bringing their interest rates to 1% in
coming months. All these factors will lead to rise in gold prices
and we expect $950-$980 as a potential short term target..
however $930 remains a key resistance and above that a further
bullishness will be seen. All these factors will lead to rise in gold
prices and we expect $950-$980 as a
potential short term target.

[arco]

1oz 1990 Australian Nugget just sold on Trademe for $1890
so about 17% over spot/NZD.

Not sure how much %wise you would lose if you have to trade
them in with a dealer (if unable to sell them on-line )

So maybe the 1oz Kiwi is better value - mint condition and $50 less.

[Aussie]

I envy my mates in Montreal who can just drive over to Kitco and buy coins wih no fuss in thier own currency or better still, New York . . .

I have bought many times from the US and had gold and silver shipped in via Fed Ex. Paid 5% over spot + shipping and insurance on Maples, Buffaloes, GAE's and Philly's with Larry LaBorde at The Silver Trading Company in Shreveport Louisiana.

http://www.silvertrading.net

A perfect southern gentleman and AAARated in my opinion.

Also bought Kangas from Jaggards in Sydney and just picked 'em while over there sometime.

[outspoken]

1oz 1990 Australian Nugget just sold on Trademe for $1890
so about 17% over spot/NZD.

Do we know what Trademe charges in commission for this trade?
I know for some things it's around 6% decreasing the higher $ amount

But for gold? I wonder what their clip is?

[Dr_Who]

Anyone here know whats the best way to sell a 18 ct gold Rolex watch?

I bought this watch about 20 years ago for $45k and it has been sitting in the safe. It is in excellent condition and only worn it a few times. I dont use it, so may as well sell it. How do I go about selling something like this in NZ?

[CAM]

Do we know what Trademe charges in commission for this trade?
I know for some things it's around 6% decreasing the higher $ amount

But for gold? I wonder what their clip is?

Trade me charges are here

http://www.trademe.co.nz/Help/Topic.aspx?help_id=18

Basically this........
Success fees
Up to $1506.9% of sale price (50c minimum) $150 - $1500 $10.35 + 4.5% of sale price over $150 Over $1500$71.10 + 1.9% of sale price over $1500
(max fee = $149)