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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (81108)	1/25/2002 9:20:20 AM
From: IngotWeTrust	Read Replies (2) \| Respond to of 116762

Had to smile upon reading your bulldozer gold nugget story. Every gold region I know of has a "bulldozer" gold story. We have one out here in Eastern Oregon, too...even the name of the road and the "crew" are given to help give it authenticity...no pictures and no residue... Also, every walking dredge location has a "big as a man's head nugget thrown out of the stacker" story as well. It's just one of those things. Funny listening to Gary H bitch about POG direction, and how irrelevant nugget stories are to HIS bottomline. I'd like to remind him that nugget stories are everybit important to the bottom line of the finders!!! We all get more than spot for our nuggets, depending upon the time, place and price of the marketing. Truth be told, there are 3 markets for gold, all with 3 different price levels: 1) The so called "straight market"...the dudes like Gary who want to swap paper and reduce costs, and who, god forbid---might actually BUY a nugget for a paperweight off of ebay or at some gold show... 2) The cash incentives market. Our biz has known for about 35 years that those famous "used car dealers" as well as their new car showroom brothers and sisters get their quota meeting perks in cash. That "sector" religiously pays up to 3x spot customarily to launder non-reported cash income for gold. Nuggets are fine, thank you, for concluding this particular business transaction. No reporting requirements like the IRS tries to enforce upon bullion ingots/bars/coins dealers. And the practice is NOT contained to just "car sales" sector...the other cash tips receiver who doesn't like to report income is the hooker/john tipped hotel/motel manager...especially strip motel owners, where rooms will be "lent for 50cent" as the old song goes. They are steady buyers as well at 3x spot. 3) Last but not least is your neighborhood thug/dealer who needs to lauder cash. However, since the risk contributes to the "cost of doing business," usually the price to lauder THEIR dirty money is 7x to 9x spot. Wise not to ask questions in that "sector" as well. So, everyone's bottomline is different, and thanks to ebay providing basically free classified ads to nugget finders, the cost of doing business in nuggets vs ROR for temporary custodial ownership of nuggets has become big business, even for mom and pops. Therefore, I totally reject ole Gar's bitchin' about nuggets' irrelevance to the GPM thread. It's not my fault he doesn't have any in his portfolio. Does he have any idea how much museums are willing to pay for decent exhibit quality nuggets nowadays? He'd be astounded. However, I'll grant him one point...it's damned hard to hide a 200# hunk o'nugget in your pants pocket (talk about family jewels notwithstanding) in a dark alley for doing business with Sector #3. That sucker glows in the streetlight dark for blocks!!!! One more point and I'll close this part of my remarks: The 2000 oz chunk that is a REPLICA in the Australian contrast entry category tickles the hell outta me every time I look at it on members.aol.com Why? Because the famous "Sutters Mill" nugget found by Marshal and whatsizface, is about the size of a lady's pinkie fingernail!!! And guess what? The original is in the Smithsonian, and a genuine, ARTIFICAL REPLICA is what is on display at the BLM museum in Coloma, CA. From the sublime Replica to the ridiculous, eh? PS thx for the 10K jig is up post. Ole Gar' also needs to unnerstan' that monkey business like that ALSO affects his bottomline, as it impacts "jewelry demand category"...but I doubt he'll admit that one either...so stay tuned for a bitchin' fit pitchin' by ole Gar to THIS post!!!! RoFLMAO!!! gold_tutor