I personally wouldnt buy a Kilo of gold. If you wanted that much Id stick to 1 ounce coins or smaller bars. With the kilo if you need to or want to sell it youve locked youre self into way to small of the market with the price of it and would honestly be lucky to get melt for it
I agree with basebal21. Buy smaller increments of gold. Get a couple 5oz bars if you need "size". I would stick to 1oz and under myself. Consider a tube of 40 1/4oz AGEs. You can buy a tube of 40 for about $19k right now. If 90% classic gold coins work for you, you can get many of them in great shape for melt value.
I agree. Smaller increments than 1000 grams is good for gold unless you are investing a LOT of money in gold bars and don't want dozens and dozens of them laying around.
I would be very tempted to buy a box of 25 1-oz. PAMP or Perth Mint 1-oz. gold bars. These come encased in a tamper-resistant assay card and a box of 25 of them stores rather neatly. This is less than a kilo of gold but if you need to sell some, doing that will be easier. With the 1k bar, it is all or nothing when buying and selling.
A one kilo gold bar is sorely lacking in convertibility. You couldn't just cash it in at the corner coin/PM dealer or unload it casually at the monthly coin show, and I suspect the value threshold puts you into a mandatory IRS report scenario as well (say "Hello" to the tax man). Way too highly visible.
If I was playing @ that level, I'd opt for tubes of current year AGEs, CGMLs or Krugerrands. If you ever needed to, you could offload them one oz at a time and without raising every eyebrow in a 5-state area.
As someone who owns a kilo bar of gold. Get it nothing beats the feeling well maybe except a 100 or 400oz bar. There are many buyers for this type of bar and getting spot is never an issue.
Quote: There are many buyers for this type of bar and getting spot is never an issue.
That may be true, but if all you get is spot after fees and taxes your left with far less than melt value for cash in hand. Smaller rounds you can usually sell for enough above melt that you end up right around there.
Like fat freddy said the 60k+ sale will be reported directly to the irs unless you have a friend that will just give you that in cash. Even then youd have to get creative with how to deposit it or just buy more coins
For this 2013 purchase I'm planning, I'm leaning heavily towards the gold bar but I'm not 100% committed. I may opt to get Silver by then, but I will get large bars regardless, since ease of liquidity isn't an issue for me whatsoever . . . not for this purchase anyway. I like to keep my PM collection varied, and right now I'm in 'Buy large size bars as close to spot price as possible' mode.
Awesome. Alright, I know the majority of folks are saying buy small amounts of gold, but I say don't. You already have many small amounts of gold pieces in various bars and coins from other videos.
Now it's time to recruit the big dogs and get that gold kilo bar. Slap someone silly with it when they start talking Precious Metal nonsense! I'd have no problems converting a kilo of gold into $ as there are at least 8-10 dealers in my area ready to cut a check for it.
Im indifferent as to what format you buy your bar in (c'mon, who wouldnt want to hold a kilo of gold?)- but I will say this:
With that kind of money, you could buy well in excess of 1500 ounces of silver. Buy that kind of amount in rectangular bricks and you could build a small house out of it! Got a kid? Your family heirloom can be a solid silver set of lego.
tripncoins - I envy you having 8-10 coin dealers in your area. I've got only one genuinely legit one and three HO-gauge wannabees within an hour of me. I count myself lucky I'm only a few miles from the legit one. Having 8 or 10 legit, real coin dealers to go window-shopping at boggles my mind. It'd also probably keep my wallet so anemic that I'd end up losing weight.
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Posted 11/24/2012 5:06 pm
A one kilo gold bar is sorely lacking in convertibility. You couldn't just cash it in at the corner coin/PM dealer or unload it casually at the monthly coin show, and I suspect the value threshold puts you into a mandatory IRS report scenario as well (say "Hello" to the tax man). Way too highly visible.
