I have questions for the Gold wise, Firstly would there be any advantage to purchasing and holding PAMP 500g Minted or Pamp(or any brand) 500g cast Gold. Secondly what are your experience with a)bullionmoney Sydney or b)ABC Gold Sydney. I am in Melbourne so should I purchase locally? Thanks for any suggestions.
Advantage over smaller bars you mean? Lower premium, easier to store, less likely to damage. On the other hand, some people think they can be less liquid if you need to cash out one day. I have used ABC and they are excellent. If you are in Melbourne why not use goldstackers?
Do you think you will be able to get back your premium over spot? In this market right now, not likely. In the future, it's possible, but is it likely?(if spot goes up) At current prices $22K isn't exactly chump change for the average person compared to a 1oz bar/coin. There seems to be a liquidity sweet spot for certain sizes/fiat value dependant on the spot price and market conditions, which would determine the likely hood of you retrieving your premium back upon a sale. I would say 500g is over this sweet spot? and the minted 500g with a $480 premium over the cast bars are just going to take up valuable space in storage with the extra packaging, so I personally would be picking a 500g cast bar.
As 500g is a big bar, it will be kinda difficult to unload unless you sell it back to some sort of dealer, only downside of a big bar. If you just want a lump of gold to tuck away for later, go with any ol' recognisable low premium bar. But if you are the slighest bit vain and maybe want to stare at it, get a pretty minted bar you like. 500g is quite a manly size bar too. You can whip it out, slap it on the table and everyone knows youre not playing around. Absolutely avoid Bullionmoney, had the 'worst/dont know how they stay in business' experience. Wouldnt buy from them if they were selling below spot. I would highly recommend Goldstackers though. Local, exceptional service and completely on the up and up. Plus they might even be able to get you other bars they dont advertise, just if PAMP isnt your thing, send them an email, theyre good people!
My intention is to hold it for some years therefore I prefer to have a smaller quantity in bars although of a higher value.
$480 buys you a 10g PM bar and the packaging on the minted bars is annoying. The cast bars are a clear winner for me.
In bigger bars I would always recommend going for the lowest premiums - as pretty much all bought back bars get sold as secondary market items at lower premiums, you will get the same buyback offer for most minted or cast gold bars regardless of brand. So additional premium up-front can be lost. That said there's not much choice in the 500g hold bar size, the PAMP cast bars are nice! but personally I would rather hold 16x 1oz coins or bars. A little bag of 16 1oz blobs makes a wonderful jingly sound
Would you mind sharing your "worst/dont know how they stay in business" experience with me? You can inbox me or share it publicly. Sometimes there is 2 sides to an experience and other times you may have received bad service from us and I would like to find out what it was so I can ensure it doesn't happen again.
If I were you, I'd buy either 16 oz or 5x100 g minted, sealed Perth Mint (since it's Australian, it tends to have smaller premium than the Swiss PAMP).
