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 Replies: 20 / Views: 2,371 |
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Valued Member
United States
81 Posts |
I am interesting in putting some of my money in gold. Not gold coins
but just gold. I am sure that there is someone here that is also doing that. I am involved in the stock market but really have no idea of getting into gold purchases. You comments? Edited by wardtom084
09/22/2008 1:38 pm
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Valued Member
United States
198 Posts |
If not gold coins... then what gold bullion? Our coin club gives away a gold coin at about every meeting as a door prize.  I've been lucky enough to win six of them  |
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Pillar of the Community
United States
3294 Posts |
real gold or a prez dollar?
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Valued Member
 United States
81 Posts |
I take it that gold bullion is the "bricks" that gold is in...such as the "bricks" that is stored in the us treasury. I would think that gold of this sort would be "less expensive" that the bricks. What it really is as I want to take some of my money out of the start market and look toward gold.
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Pillar of the Community
United States
1130 Posts |
The easiest way is to buy gold bullion in the form of coins or bars. American Eagle gold coins come in 1 troy oz. sizes and can be bought in tubes of 20 coins each. You can also purchase bars by various refiners/assayers in 1, 5, 10 and 100 oz or in metric weight up to 1 kilo. http://www.apmex.com/Category/502/Gold.aspx |
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Valued Member
United States
81 Posts |
Ok.. you guys are helping me out so far ! I buy Am. Eagle which is 1 troy ounce. Gold is selling at 1 dollar per ounce. The coin cost me 1 dollar? Is that right? or do I need to stick to gold bars.
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Valued Member
United States
81 Posts |
I think that I have answered that question with your link. It says Only $7.95 per ounce over spot! I guess that is the price of gold per oz plus another 7.95?
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Rest in Peace
United States
9104 Posts |
yes, plus probably shipping charges.
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Valued Member
United States
81 Posts |
I have been watching the stock market go down all day and the price of gold go up around 45 dollars per oz. So let me ask this question. With a gold coin you have to pay the price per oz plus spot, but the gold bar you pay the actual amount of gold at the time you buy it. I can see where the gold coin would be easier to sell, and I emagine this gold you have could be either in the certificate form (not have to ship gold back and forth). The coins would not be incertificate form. So which one do you prefer and why.
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Valued Member
United States
67 Posts |
I personally like to have my PMs in the physical form in my hand. Buying on paper is just that, a piece of paper. Depending on where you buy from, there may be physical gold to back that paper, or their may not be.
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Rest in Peace
United States
4849 Posts |
Tom,
It doesn't really matter what form the gold is in. "Spot" price is the value of gold at the present time, not the value over the price of gold. Depending on the form of gold, you will almost always pay a "premium" over the "spot" price to get whatever form of gold you are purchasing. 7.95 over spot per ounce is a very reasonable premium. So if you purchased an ounce of gold and gold was $900 an ounce at the time, you would pay 907.95(plus shipping) for your ounce of gold. Gold coins usually carry a larger premium, especially if they are from the US mint. Make sure that you only buy from a reputable source.
John
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Valued Member
United States
67 Posts |
Also, if I were you I'd educate myself, do research, and read as much as I could before diving into the gold market.
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Pillar of the Community
United States
628 Posts |
Buy low sell high. We all watched gold climb recently. I won't predict how much higher it will go. My guess is higher, who knows? I don't. This might be a better time to sell. Precious metals is a very volatile market.
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Pillar of the Community
United States
1026 Posts |
Well about two weeks ago gold was at $ 750.00 per ounce today $ 904.00 per ounce what about a month ago $ 1000.00 per pounce.
When the stock market does good gold prices tend to come down. When the stock market does bad like now gold prices tend to go back up. If it were me I would not buy now but wait till gold comes back down again for the best investment.
Will it keep going up my guess is yes till the stock market stabilizes then it will come back down again.
I also like to have the gold in hand...one ounce bullion coins are nice but gold in gold weather in coins or bars.
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Pillar of the Community
United States
4541 Posts |
Unstable market I wouldn't purchase gold right now! I would almost say you missed the band wagon... As far as the way you want to buy it I would definitely get real not paper gold.. The ASE is going to sell faster than a Gold brick. You will be able to sell the ASE for more than you will a gold brick also "thats comparing ounce to ounce ratio". if you just want to invest in gold I say go bars. If you want to get tangled in with numismatics I say Coins. I have heard people say The thing with bars is sometimes you might have to have it assayed. but I dunno |
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Rest in Peace
United States
9104 Posts |
If you have smart brains, you learn what to look for and buy scrap rings from people at 1/3 of the metal content. When you get a bunch of them, convert them to coins.
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Replies: 20 / Views: 2,371 |
Posted 09/22/2008 2:16 pm
