I really hope this isn't a fellow SS stacker. I know we have members from Ballarat here http://www.heraldsun.com.au/news/la...t/news-story/46a927a1328e2b8847a7ca78455a690f
Amazed that someone would have that at home and while the article provides zero details, it appears the gold, in my mind at least, was relatively unsecured. I feel for anyone who experiences a break-in but in particular when something like that vanishes. As an aside, Chanel Kinniburgh (the article author) is talking up the price of gold nicely.
"Police want to speak to the owners of a gold four-wheel drive seen in the area." Perhaps the thieves want to do another car in 'gold'... since the current one is getting old, ya think?!
More to the story Dr Rosemary Draper, the owner, bought the bar in the 80's for about 20k Gold Dealers have been informed to keep an eye out
$20,000 for 30 years at 3% inflation (rough average could be higher or lower) = $49,000 today Average 2Br apartment in Sydney $50,000 or Melbourne $37,000 today is about $700,000 http://www.econ.mq.edu.au/Econ_docs/research_papers2/2004_research_papers/Abelson_9_04.pdf
Love the sketch of the person police want to speak with IMG_1761 by Junk Silver posted Apr 12, 2017 at 5:13 PM
"Leading Senior Constable Nathan Vercoe, based at Ballarat police station, said the thieves will struggle to offload the gold" Only if they try to sell on stackers at spot
Would love to see this idiot take selfie with the bar and got uploaded to owner's fb acct... just like the one happend in US/Texas...
The facts as we know them. 1 - Vehicle was a gold 4 wheel drive. 2 - Sketch by victim of suspect. 3 - Vanilla Ice is currently in Australia touring with a bunch of other 80's/90's singers. Case closed?
What happens with large stolen diamonds ? They cut them up, and sell off the smaller pieces. Look out for disfigured chunks of gold at spot prices.
I agree with Nugget_Hunter. That bar has probably been cut up (and melted down perhaps) the day it was stolen. Perhaps the downside to bullion as opposed to numismatic coins, is that for the thief to maximize the value, with bullion, you just melt and pour. It's really sad that this theft happened....I do very much hope the thief is caught....as unlikely as that might be. To maximize value (and therefore to even justify the risk of breaking and entering in many instances) of numismatic coins, a thief will have to sell them in the same condition and same exact form as they were when stolen. Sure, they could melt down numismatic coins, but the overwhelming value of most numismatic coins is not in the metal content itself. After all, a few rare copper pennies would get the thief a couple of cents melted down....the cost of melting alone wouldn't even begin to justify the risk of theft. In other words, in most cases it's far less risky to resell stolen bullion than stolen numismatic items. Either way, the lesson to be learned is don't take the security of whatever valuable items you may have for granted.
This sounds like a casual burglary that got lucky - they were there for iPads etc. Probably still sitting on it not knowing what to do.
