Gold hits $5,000: The bet that aged well
Krugerrands were 615 euros and Pandas 632 euros when this discussion began. Years later, those prices cause blush among investors.
English · Original discussion in Spanish · Published
Gold bought for 615 euros that no one believes today
An ounce of gold at 615 euros. That was the price to buy a Krugerrand when this conversation started, a figure that now causes retrospective embarrassment for those who considered it. The initial premise was not apocalyptic: hedge against pound devaluation, diversify, or simply own a beautiful coin. No capital controls, no Mad Max, just a 0.9999 purity coin.
What trinc is summarized by a later comment: whoever bought at those prices today. The thread, starting with beginner doubts, becomes a record of involuntary prophecies and a practical lesson on where to buy gold, which coin to choose, and why gold does not behave like a savings account.
What 1,000 euros bought in gold
The initial question was simple: what could 1,000 euros buy? The answer circulating in the thread was one whole Krugerrand plus half an ounce of the same type, totaling about 945 euros. The one-ounce Panda was priced at 498.50 pounds, equivalent to 632 euros. With that budget, the combination was perfectly achievable.
The conversation leaves a price map that now seems almost archaeological. The Krugerrand was around 615 euros at a Spanish dealer. Fractional 1/10 ounce coins were seen at 120 euros in a Spanish shop and 160 in a German one, a differential that frustrated buyers wanting 300 pieces between two people, costing about 18,000 euros per head.
The choice criteria are also clear. The Krugerrand tracks the metal spot price most closely. The Panda and Maple are the fancy ones: 0.9999 purity, nice design, possession appeal. The Vienna Philharmonic appears as a third aesthetic option. And some dismiss coins entirely: coins seem silly to me, I would buy bars.
Where to buy gold without getting ripped off
The provider map combines physical shops, online distributors, and cross-border trips. In Spain, a Madrid-based dealer offers Krugerrands at 615 euros and Pandas, though more expensive. In the UK, Chard and Baird & Co are direct sales points, and eBay offers sufficient volume.
The most repeated option for selling without excessive fees is crossing into Belgium. A alucinación to Brussels to sell at a local pawn shop is seen as the way to get a good price, and the same destination serves for buying. The repeated key point: no ID or documents were requested at the physical counter, making the operation anonymous. For Napoleon gold coins, the recommendation is France or Belgium, paying a small premium over spot.
The detail that sinks silver as an alternative is fiscal: in the UK, VAT applies to silver and platinum, eating investor interest. Invested gold coinage is exempt. Those wanting metals that occupy little space and avoid checkout have platinum and palladium, though with less liquidity.
Why gold does not make you rich with inflation
The smartest objection questions the metal's real utility: if you buy gold today and inflation rises, gold rises, but bread, gas, and everything else do too. What is the point? The consensus is that the relevant comparison is gold against cash kept under the mattress.
The scenario described is a remunerated account growing from 10,000 to 10,123 euros in a year while a loaf of bread doubles from 0.50 to one euro. With 100% inflation across the board, those 10,123 euros buy half as much as before. Ten one-ounce coins, however, would have multiplied their nominal value. The repeated conclusion: gold does not generate wealth; it preserves purchasing power.
Some add a second-order nuance: in an inflationary scenario, more people buy gold to protect their cash, so metal prices may rise significantly more than inflation. Others recall gold is one of the planet's scarcest metals: all humanity has extracted just enough to fill two Olympic swimming pools.
The $5,000 per ounce prediction
Amid the conversation, news appears suggesting gold could surpass $5,000 per ounce. The link is shared as fresh argument, and the reaction is confirmation, not euphoria: if inflation continues, many will seek gold as a safe haven, pushing prices up. The figure stands as a working hypothesis, with no one committing to a date.
The counterpoint arrives years later, with a warning that when the gold bubble bursts, they will give away ounces on yogurt lids. The response is dry: sit and wait. The discussion on whether gold is a safe haven or a bubble remains open, with both positions on the table and no verdict yet.
What has changed is the tone of the original poster. Years later, he writes that it annoys him to read himself so convinced buying two years ago, with the best site now located and past prices before him. His decision remained an intention.
Which gold coin is easier to sell later
The practical question running through the exchange is liquidity. For small pieces, silver is recommended over gold, and if fractional gold is desired, the range goes from 2 Mexican peso coins to British sovereigns, which are cheaper and nicer than Krugerrands. If insisting on ounce fractions, the Panda is flagged as the easiest to place.
Regarding sovereigns, there is a specific warning: they exist from various countries, Australia, England, and others, and some may have numismatic value. The advice is not to pay a premium for that. If offered an Australian sovereign at the same price as a British one, take it without problem. The 1911 George V coin with 3.6609 grams of gold someone tried to sell for 1,500 euros when eBay listed it at 180 euros serves as a reminder of what happens when sellers confuse sentimental value with market price.
For those wanting coins with history rather than maximum purity, Spanish doubloons appear as a lower purity option with historical interest. The conversation does not close this path. It remains, like so much in this thread: on the table and unbuy.
With the metal where it is, the question is no longer whether buying at 615 euros was advisable. It is how many of those who considered it are still looking at the dealer's website without deciding.
An ounce of gold at 615 euros. That was the price to buy a Krugerrand when this conversation started, a figure that now causes retrospective embarrassment for those who considered it. The initial premise was not apocalyptic: hedge against pound devaluation, diversify, or simply own a beautiful coin. No capital controls, no Mad Max, just a 0.9999 purity coin.
What trinc is summarized by a later comment: whoever bought at those prices today. The thread, starting with beginner doubts, becomes a record of involuntary prophecies and a practical lesson on where to buy gold, which coin to choose, and why gold does not behave like a savings account.
What 1,000 euros bought in gold
The initial question was simple: what could 1,000 euros buy? The answer circulating in the thread was one whole Krugerrand plus half an ounce of the same type, totaling about 945 euros. The one-ounce Panda was priced at 498.50 pounds, equivalent to 632 euros. With that budget, the combination was perfectly achievable.
The conversation leaves a price map that now seems almost archaeological. The Krugerrand was around 615 euros at a Spanish dealer. Fractional 1/10 ounce coins were seen at 120 euros in a Spanish shop and 160 in a German one, a differential that frustrated buyers wanting 300 pieces between two people, costing about 18,000 euros per head.
The choice criteria are also clear. The Krugerrand tracks the metal spot price most closely. The Panda and Maple are the fancy ones: 0.9999 purity, nice design, possession appeal. The Vienna Philharmonic appears as a third aesthetic option. And some dismiss coins entirely: coins seem silly to me, I would buy bars.
Where to buy gold without getting ripped off
The provider map combines physical shops, online distributors, and cross-border trips. In Spain, a Madrid-based dealer offers Krugerrands at 615 euros and Pandas, though more expensive. In the UK, Chard and Baird & Co are direct sales points, and eBay offers sufficient volume.
The most repeated option for selling without excessive fees is crossing into Belgium. A alucinación to Brussels to sell at a local pawn shop is seen as the way to get a good price, and the same destination serves for buying. The repeated key point: no ID or documents were requested at the physical counter, making the operation anonymous. For Napoleon gold coins, the recommendation is France or Belgium, paying a small premium over spot.
The detail that sinks silver as an alternative is fiscal: in the UK, VAT applies to silver and platinum, eating investor interest. Invested gold coinage is exempt. Those wanting metals that occupy little space and avoid checkout have platinum and palladium, though with less liquidity.
Why gold does not make you rich with inflation
The smartest objection questions the metal's real utility: if you buy gold today and inflation rises, gold rises, but bread, gas, and everything else do too. What is the point? The consensus is that the relevant comparison is gold against cash kept under the mattress.
The scenario described is a remunerated account growing from 10,000 to 10,123 euros in a year while a loaf of bread doubles from 0.50 to one euro. With 100% inflation across the board, those 10,123 euros buy half as much as before. Ten one-ounce coins, however, would have multiplied their nominal value. The repeated conclusion: gold does not generate wealth; it preserves purchasing power.
Some add a second-order nuance: in an inflationary scenario, more people buy gold to protect their cash, so metal prices may rise significantly more than inflation. Others recall gold is one of the planet's scarcest metals: all humanity has extracted just enough to fill two Olympic swimming pools.
The $5,000 per ounce prediction
Amid the conversation, news appears suggesting gold could surpass $5,000 per ounce. The link is shared as fresh argument, and the reaction is confirmation, not euphoria: if inflation continues, many will seek gold as a safe haven, pushing prices up. The figure stands as a working hypothesis, with no one committing to a date.
The counterpoint arrives years later, with a warning that when the gold bubble bursts, they will give away ounces on yogurt lids. The response is dry: sit and wait. The discussion on whether gold is a safe haven or a bubble remains open, with both positions on the table and no verdict yet.
What has changed is the tone of the original poster. Years later, he writes that it annoys him to read himself so convinced buying two years ago, with the best site now located and past prices before him. His decision remained an intention.
Which gold coin is easier to sell later
The practical question running through the exchange is liquidity. For small pieces, silver is recommended over gold, and if fractional gold is desired, the range goes from 2 Mexican peso coins to British sovereigns, which are cheaper and nicer than Krugerrands. If insisting on ounce fractions, the Panda is flagged as the easiest to place.
Regarding sovereigns, there is a specific warning: they exist from various countries, Australia, England, and others, and some may have numismatic value. The advice is not to pay a premium for that. If offered an Australian sovereign at the same price as a British one, take it without problem. The 1911 George V coin with 3.6609 grams of gold someone tried to sell for 1,500 euros when eBay listed it at 180 euros serves as a reminder of what happens when sellers confuse sentimental value with market price.
For those wanting coins with history rather than maximum purity, Spanish doubloons appear as a lower purity option with historical interest. The conversation does not close this path. It remains, like so much in this thread: on the table and unbuy.
With the metal where it is, the question is no longer whether buying at 615 euros was advisable. It is how many of those who considered it are still looking at the dealer's website without deciding.
Also available in: Deutsch
Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (105 replies).
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