Hi all, I'm new to this forum, new to gold or precious metals and fairly new to investing. I'm just about bewilderd by all the information available, on this board and elsewhere. I apologise in advance for my rudeness if I'm asking questions answered elsewhere. There's a helluvalot of information here and I'm barely up to sticking a toe in the water. I've noticed that Perth Mint sells all sorts of different weight coins and bars, and there are different styles. I assume some of the designed coins are worth more than plain coins or bars of the same weight because of their aesthetic appeal and perhaps rarity. Is that right? I also notice that there are many places you can buy gold one in one form or another, including share-market funds that in some way plug into the gold market, and you can own gold that is kept somewhere else and that you can 'redeem' at your discretion. I have to admit I find something a bit romantic in owning physical gold instead of owning gold derivatives, or even owning gold in someone else's vault. If I just want to invest a small chunk of my 'portfolio' in physical gold (I'd only be spending a few thousand dollars) that I will be able to hold in my hand, how might it be best to do so? Looking at the spread between buy and sell prices on the Perth Mint site it looks like I'd need an appreciation of 10% before I could sell back to them any gold I'd bought from them, without making a loss. How else can you sell gold? Is it likely you can get better prices elsewhere or are Perth Mint prices standard? (If relevant, I live in NSW.) Thanks in advance for any help you can offer, and thanks for this amazing forum. Fergus
Welcome to the SilverStackers (SS) forum! I usually look at an abundance of information as a good thing but I understand about the intimidation of jumping in...especially if you are poised at this very moment to buy....which, I believe is actually a good time to do so. A "premium" is a tacked on charge that sellers add as basically their value added tax. Premiums on modern gold and silver collector coins are often mostly for added costs of production of a complete product. Premiums from different sellers can and often do vary very widely even on the same exact coins. You are much more likely to find differing values on the same coin than the same exact premium when looking at the prices different sellers are asking Shop around. Don't forget to look at shipping costs, VAT, sales taxes, or any other added fees if those apply to you. As for what to buy...it depends on what your beliefs, plans, circumstances, and strategies are. No one product will suit everyone who wants to buy gold or silver. Right now, lots of stackers I know are focusing on buying blobs (common, mass produced, non-denominated, low premium bars and rounds) instead of focusing on buying collector coins to flip. Not that they are eschewing the purchase of all collector coins all together, but just being more selective because a greater percentage of their cash is going towards blobs since we are probably at the bottom of the spot price decimation over the past 4+ years. In the words of a fellow stacker, "Listen to all, follow none." .
Hi Im also new to buying. Just purchased my first one but unfortunately its on back order and could be for weeks maybe months from Perth mint. Would you risk not having it in your hand? In case the markets turn this september/october in America
Welcome Have a look at Perth Bullion and Goldstackers next time you buy, bit cheaper than The Mint. Back order with them is fine, wouldn't worry about the marketers turning
It was from Goldstackers Still weeks without it in my hand hmmm if hypothetically silver price doubled due to market turbulence wouldnt Goldstackers be paying double for something they havent received? They could just refund my order could they not?
Goldstackers is a reliable company and they hedge all their purchases, they make their money on the transaction fees, not the changes in spot price so even if spot is going down they still sell, otherwise they would only be able to sell when spot was going up. As soon as Goldstackers took your money they immediately spent it to buy more silver to replace what they just sold to you before the spot price changed (they buy in bulk so they can get it cheaper and then they add a bit to the price to cover their costs and add a bit of profit). In this way the changes in spot doesn't send them broke during crashes.
As to gold, a couple of thousand doesn't go far. I have some 1/4oz Maples and they are tiny, I wouldn't want anything smaller. Plus the smaller you go, the larger the manufacturing costs, you get less gold for your dollar. You would be better off getting a larger bar or coin, but they are very underwhelming, one smallish coin for $1000+ On the plus side, very easy to store. At the moment I think silver is a better buy, you will get about 70 large coins for about the same price as a small gold coin. But as banks are buying gold and selling off all their silver stockpiles, maybe they know something we don't.
Well thats the thing, they cant buy the silver as its not available from Perth mint for unknown period and perth mint are not taking orders. When the stock becomes available the spot price will be different obviously, true?
I'm looking at options on Goldstackers. I'm quite surprised at the variation available. For instance, there's the most basic 'low premium' 1oz bar for $1604.60, but other 1oz gold bars can be $1609, $1612, up to $1624. If these are all supposedly simple gold, why such variation? Similarly, 1oz gold coins can be as little as $1619.60 for a Canadian Maple Leaf, but a Royal Mint Britannia 1oz is $1,637.60, a US Buffalo 1oz is $1659.20, and a Krugerrand 1oz is $1756.30! How is a gold krugerrand worth so much more than the other coins?
Krugerrands are 22K and attract GST in many countries. All the other variations you indicate are pretty tight and expected. Cost + profit for producers and dealers must be priced in, it's quite unlikely that different products coming from different countries can have the same price.
Hi Fergus, welcome. Krugerrands are not pure gold, but the gold content adds up to 1ozt. Their composition is 91.67% gold and the rest is copper with a total weight of 1.09ozt
get a kruger, a maple, a philarmonika, a panda and a eagle and a kangaroo for the start. about 7500 Usd. its quite sum, you have some variation and can later decide which you like most and focus on them. notice that pandas have a larger premium than the others mentioned. this is induced trough the zocalled collectors value. the others are basically only worth scrap metal. under 250 gr bars are not worth it. too much spread.
