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Gold Bullion

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Author Previous TopicReplies: 8 / Views: 2,431Next Topic  
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chris12018's Avatar
United States
2130 Posts
 Posted 09/24/2010  06:43 am Show Profile   Bookmark this topic Add chris12018 to your friends list Get a Link to this Message Number of Subscribers
Is $50 over spot to much to pay for gold?
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wd1040's Avatar
United States
3098 Posts
 Posted 09/24/2010  1:23 pm  Show Profile   Bookmark this reply Add wd1040 to your friends list Get a Link to this Reply
With that premium you should get at least an AGE. Most bars and Krugerrands are only 1% over on the secondary market.
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carmykle's Avatar
United States
2448 Posts
 Posted 09/24/2010  2:38 pm  Show Profile   Bookmark this reply Add carmykle to your friends list Get a Link to this Reply
Not that I'm doubting your ability to purchase at that price, It's just that $13.00 above current spot is unheard of here on the east coast. Unless you're buying in bulk. Most bullion ingots sell here for a handsome premium depending on the name.
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vgasca's Avatar
Switzerland
46 Posts
 Posted 09/24/2010  3:12 pm  Show Profile   Bookmark this reply Add vgasca to your friends list Get a Link to this Reply
You will be paying about 7% over the spot price for bullion gold coins. Of course the size of the coins depend because you will pay a little more for the smaller coins.
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Waredu's Avatar
United States
397 Posts
 Posted 09/24/2010  6:31 pm  Show Profile   Bookmark this reply Add Waredu to your friends list Get a Link to this Reply
My local dealer sells AGEs, and other named gold bullion at spot + 5%. He sells the First Spouse gold at spot + 3%. He's also got some generic stuff at spot + $30. Says he ships nationwide/worldwide.
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Sukardnam's Avatar
United States
103 Posts
 Posted 09/26/2010  6:18 pm  Show Profile   Bookmark this reply Add Sukardnam to your friends list Get a Link to this Reply
I sell at spot plus 3% in my shop. You shouldn't have to much trouble finding a similar deal.
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Waredu's Avatar
United States
397 Posts
 Posted 09/26/2010  10:53 pm  Show Profile   Bookmark this reply Add Waredu to your friends list Get a Link to this Reply
I just saw that my dealer is buying at spot + % as well. Wow.
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legend's Avatar
United States
182 Posts
 Posted 09/28/2010  07:38 am  Show Profile   Bookmark this reply Add legend to your friends list Get a Link to this Reply
There is indeed a wide spread in buying and selling gold bullion, and a news source just posted a very interesting gold comment: In the past five years central banks have cut their gold sales by 96%. So for every 100 ounces sold by governments just a few years ago, only four ounces are sold today. This is the kind of supply constraint helping to drive the demand and price underpinning on gold out the roof. So when buying that next ounce gold issue, imagine if the big great large whopping overwhelming infinite vast majority cut their bank sales by a factor of two. Only two ounces being sold now, as opposed to just a few years back. Makes the US issues seem like, well, Gold. Gives one pause wondering where it leads from here. People will quit buying at what price? I think there is a permanent fear factor now, and people are gonna be offering up to and including $2,000 an ounce. The dollar seems so compromised, what with all the bailouts. Unpatriotic as that sounds, imagine being a volume US paper bonds holder like China. Wow.
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odentheviking's Avatar
United States
425 Posts
 Posted 02/12/2011  6:08 pm  Show Profile   Bookmark this reply Add odentheviking to your friends list Get a Link to this Reply
Great thread! Thanks for posting.
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