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 Replies: 33 / Views: 2,998 |
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New Member
 United Kingdom
2 Posts |
Thankyou for all your advice which has been very useful. I called a few places recommended by the British Numismatic Trade Society to ask about prices and they quoted newly minted gold sovereigns with a premium of 15%! Older coins come with a premium of 11% but there is a 3 month wait for them. Apparently they are having difficulty finding older coins due to demand. 15% premium over spot price plus is quite a bit and therefore I will call up some other places to find their prices. I will also enquire about Eagles and Krugerrands taking into account their greater gold content and ease of selling. Unfortunately I couldn't find an online site like APMEX but I'll try again later - perhaps I missed something. |
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Valued Member
Canada
159 Posts |
biokemist6, I wasn't talking about "Peoples" jewelry store at your local mall beside the McDonalds. I'm talking about a real jeweler/artist that makes their own jewelry/art. A jeweler should have access to 24K gold; they can add what ever base metal, in whatever quantity. Jewelers want the same freedom as bullion holders. Jewelry Casting http://www.youtube.com/watch?v=mWyM...ture=channelEdited by Coinage
01/12/2009 5:37 pm
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Pillar of the Community
United States
1130 Posts |
Edited by 1sikevo
01/12/2009 6:09 pm
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Valued Member
United States
81 Posts |
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Pillar of the Community
United States
3098 Posts |
 Gold at $55 more is just crazy... And notice it is now they have fractionals... |
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Pillar of the Community
United States
1130 Posts |
But when you look at percentages, silver's premium is much higher.
If I invested $1000 for each metal, I'd get 1.2 ounces of Gold Eagles, paying about $70 in premiums.
$1000 will get me about 90 ounces of Silver Eagles, but the premium will be a whopping $360 !
Edited by 1sikevo
01/12/2009 6:53 pm
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Valued Member
United States
81 Posts |
I am starting to think that putting 20 thousand in a Puerto Rico bank cd at 20 percent is looking better all the time.
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Pillar of the Community
United States
1130 Posts |
Quote:
I am starting to think that putting 20 thousand in a Puerto Rico bank cd at 20 percent is looking better all the time. FDIC insured CDs ? Where do you see that ? |
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Valued Member
United States
81 Posts |
I did not get your question. CD's are insured in the US. Maybe it is the dominican republic that I am thinking about. I know a guy that lives there so it is the D.R.
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Pillar of the Community
United States
3098 Posts |
Dominican Republic #8800; (does not equal sign) Puerto Rico. If you put you money in there, the government will take it over, say is American encroachment, etc etc and you will never see the greenbacks again. I think it would be safer buying Obama coins and getting a return  I think this post is getting a little bit awry from its title. Anyways Bob, if you're still reading this, the cheapest form of liquid (readily able to buy and sell) are 1 oz bars or 1 oz Krugerrands. Get some before Brownie's plan to print pounds into the horizon starts kicking in.  Edited by wd1040
01/13/2009 01:06 am
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Valued Member
United States
81 Posts |
Ok back on the subject.. .in a second. I am an independent contractor for the state doing tag and title work. I can't believe people pay what they pay for some vehicles. Talk about a waste. The same is for gold. The dealers get 55 dollars over the price of the coin because they know they can get away with it. It is the norm now and no one really thinks about it. I will not pay that myself. Want to make money in gold. Become a dealer and charge eveyone you sell a coin to ... as you call... the spot price.
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Pillar of the Community
United States
2669 Posts |
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Become a dealer and charge eveyone you sell a coin to ... as you call... the spot price. which begs the question.. how does one become a dealer?  |
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Valued Member
United States
81 Posts |
That question might be as hard to answer, why does the price of gas go up, down, and why are we short in areas. No one knows the answer to those questions. I would say take 20 or so thousand, open an account up and buy the gold on your own.
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Bedrock of the Community
United States
12437 Posts |
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Want to make money in gold. Become a dealer and charge everyone you sell a coin to ... as you call... the spot price.
One problem with that- where are you going to buy the gold under spot price so you can actually make a profit? That is why they have to charge a premium over spot because they have to pay the spot price(or more) to purchase it in the first place. Quote:
That question might be as hard to answer, why does the price of gas go up, down, and why are we short in areas. No one knows the answer to those questions. I would say take 20 or so thousand, open an account up and buy the gold on your own. Gas prices in the US fluctuate partly due to EPA mandated regional blends(aka boutique fuels) which tends to create isolated shortages in certain areas because you cannot supply California with Texas gas- it doesn't work that since there are about 15 different blends for the whole country and they cannot be interchanged unless the EPA specifically waives the requirements. Also, you might want to take that $20,000 and add a zero or two to it because 20k won't get you much of a discount and is largely insignificant in the grand scheme of things. To become an Authorized Purchaser of Gold Eagles from the US Mint, you have to have tangible assets of $50,000,000 and be able to move 100,000 oz of gold in a 12 month period and then you still have to pay over prevailing spot price(3% for 1oz coins and scaling to 9% for 1/10oz coins). If you want to get "gold" as close to spot as possible, open an ETF account or a pool account from a place like Kitco. Those both have lower costs due to the fact that you never physically handle the gold. |
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Pillar of the Community
Canada
598 Posts |
I 'spose the real deal here is to have time on your side.  |
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Replies: 33 / Views: 2,998 |
First Page
Posted 01/12/2009 5:29 pm
