Goldcorp, Inc. (USA) (NYSE:GG)

CAPS Rating: 3 out of 5

The Company is engaged in the acquisition, exploration, development and operation of precious metal properties.


Player Avatar MattCohn (87.28) Submitted: 6/5/2010 12:29:36 AM : Underperform Start Price: $40.06 GG Score: +114.96

Gold just sold on eBay for $7.72 an ounce. See link below. It seems like eBay may be the best place to buy gold. If you can't sell your gold at a reasonable price on eBay when Gold in near a record high, what can be expected when Gold crashes?

Report this Post 3 Replies
Member Avatar mhy729 (34.10) Submitted: 6/26/2010 7:58:49 AM
Recs: 0

MattCohn, you obviously haven't looked into this carefully enough. The 1 oz weight is misleading because it is not referring to the gold content. The important designation here is the "100 mills", where mills is an AKA for milligrams. This means that the gold content is merely 1/10 of a gram, which comes out to 0.003 527 396 195 oz, and at $1250/oz for gold you get $4.41. Unreasonable price indeed.

Member Avatar mhy729 (34.10) Submitted: 6/26/2010 8:37:07 AM
Recs: 2

*Correction on above comment*

Obviously *I* haven't looked into this carefully enough myself. Upon further looking around, the "100 mills" appears to be a thickness designation. In any case, the 1 oz weight is virtually entirely comprised of some cheap base metal, and a miniscule amount of gold is plated onto the surface. Deceptive advertising by the sellers? Perhaps, but you'd have to be a total fool not to realize there has to be a good reason a 1 oz bar of "gold" is selling at such a massive "discount".

Member Avatar hot1053 (36.53) Submitted: 2/24/2012 11:33:02 PM
Recs: 0

How could this post get 2 recs? A rec for mhy, but not Matt.

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