Paying For Gold Bullion In Monthly Installments

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Author	Replies: 7 / Views: 8,791
Hume New Member United Kingdom 3 Posts	Posted 07/22/2011 5:49 pm Today I brought and paid for a half crown of gold from the london mint. I was talking to their rep, who said I could pay for gold in monthly installments. I really would prefer this method of buying gold. the problem with the mint is there premiums are ridiculously priced. get this, a 1ounce chinese panda coin is £2200. I want to know if any gold traders offer a pay monthly scheme with the price set on the first payment. Thanks Report this Post to the Staff

junior e Pillar of the Community United States 931 Posts	Posted 07/22/2011 6:40 pm I think that you could get it much cheaper by purchasing from APMEX or one of the bullion dealers in the States. As far as making payments on gold I personally wouldn't have a problem with it but not unless absolutely necessary. I am a firm believer that gold will eventually hit $2000 US and beyond and I am still buying at these levels so I am putting my money where my mouth is. I have to ask what is the weight in Troy ounces Of a Half Crown of gold? Report this Post to the Staff
ICanSeeYou7687 Valued Member United States 362 Posts	Posted 07/22/2011 6:44 pm What's the difference from use and pounds? That sounds ridiculously overpriced. My local coin shop sells all gold at a 60$ above spot premium no matter what. If its just gold bullion, like the American gold eagle, its the same no matter what. So a 1/10 oz gold coin is only 6$ over spot. I would try to find a local dealer.. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 07/22/2011 6:54 pm A British pound is valued at just over US $1.60, so more than 1.5 times the US dollar. 2200 GBP would be about US $3560. That is an awful lot for a 1 oz. Panda unless there is something pretty special about it to collectors. As to paying monthly... no way, Jose! Save the money and THEN buy the coins you can afford. Pay cash for everything you buy, if at all possible. As a wise man once said, "You can't borrow a better standard of living. When you borrow money, only your banker achieves a better standard of living". Report this Post to the Staff
macmercury Pillar of the Community United States 5826 Posts	Posted 07/22/2011 6:58 pm Good Lord! That's 2 ounces of gold here. Report this Post to the Staff
junior e Pillar of the Community United States 931 Posts	Posted 07/22/2011 7:08 pm That's why I asked him what the weight of a Half Crown would be. I really hope that it is two Troy ounces. Report this Post to the Staff
Brucec Pillar of the Community United States 1026 Posts	Posted 07/22/2011 7:15 pm Monthly payments do not do it as Ed_B said pay cash save till you can get one you are not getting the reason to purchase PM if you are getting it on monthly payments no offense meant. As for that price you are being robbed go to APMEX. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 07/22/2011 8:33 pm If you have to pay in installments, you have no business buying gold. Report this Post to the Staff
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