I'm here to ask a question on behalf of my son, an Australian currently working in Moscow, Russia. He has his savings in Euro, in a European bank, and wants to avoid a total loss through possible bail-ins by buying a kilo of gold and storing it with me here in Oz. I'm in rural QLD. It's been a long time since I bought precious metals so I'm back here to ask for the best dealer in Qld, or perhaps in Oz. I used to buy from Perth Mint years ago but I don't regard them as totally professional based on my interactions with some of the dealers there (swearing at me on the phone, shipping my coins to me in a cheap cardboard box so that many had fallen out of their plastic cases and suffered damage). I'll deal with them again only if I absolutely have to. I'm looking for very competitive pricing, secure shipping and total professionalism. Thanks!
That's why it's a small Community here. To recommend places Goldstackers was founded by the same people who bring you this forum Most highly regarded Company in Melbourne and OZ When I go shoping its always there as a first choice
Not only do they allow other companies to be recommended but they allow them to be site sponsors and run their own specials and offers. I agree that buying in smaller lots is a good idea as when it comes time to sell not many of us have the cash for a kilo. Gold Stackers are being recommended as they are a great company who many of us have dealt with. They also offer storage options. So if you need to make the purchases over the span of some months they will store it for you then ship as a bundle. This is a good way of accumulating a large purchase without going all in all at once. Another highly recommended company is Perth Bullion. (not linked to the mint and very professional). They also offer storage and have a great range.
Right now Perth Mint selling 1kg bars @ $48,467.80 Gold Stackers selling @ $48,914.00 $447 difference! Why the big vig? I used to buy from a small outfit in Perth called BullionBourse (now called Perth Bullion Shop or perthbullion.com), and they always undercut the Perth Mint..... I see their price is $48,630.50 at the moment)
Because you're not accounting for the total cost. The Mint charge a lot for postage and then an extra (I think) 1% on top of that for the insurance.
I would say Goldtrex in Sydney, best if you ask to speak to Ben though as the many purchases I've made with them over counter have been best with Ben Prices comparable to other dealers very good.
If you are spending that much money, hop on a cheap flight and do everything in person. Bullionlist in sydney could easily handle it I've seen 1kg slabs They're beautiful.
Welcome to the forum. Do you want to be sitting on a Kilo of gold in your home? We have had a couple of members suffering break-ins. It might be worth looking for a dealer who can store the metal on site, in their safe with their insurance. They have better security arrangements than most stackers have and they are usually insured. I am not sure I would want to insure my metals as that just tells more people what I have and where I keep it. I have used Goldstackers and Perth Mint and they were both fine but I only buy small amounts. Goldstackers does run the forum but they are happy to let people promote other dealers and most of the other dealers are members, I am surprised you haven't received lots of private messages from them. The reason that Goldstackers gets so many recommendations is because they deserve them.
If I had the choice I'd probably not get a kilo, I'd probably get 32 of these http://www.goldstackers.com.au/store/gold/perth-mint-1oz-minted-gold-certicard.html It's less then $100 more than a kilo bar, you can put it all in one safe deposit box or two and it is much more liquid than buying a kilo, you can sell one or 30 if you want/need, plus I'm sure they're much more popular than kilos
But at the same time you shouldn't have too much of a hard time selling a kilo to a dealer for around spot give or take a little. Not that I've had experience with this, wish I did
Selling a kilo now isn't likely to be such a problem but if it's for sale on condition of the collapse of European banks as suggested gold could be close to 100k a kilo. That's going to be serious. Yes you can find dealers but you can only sell it once. You can't choose s few moments of time in the market that look good and you can't sell half if you only want half the cash. I would echo the sentiment that 32 1oz bars are better than a kilo. Even 3 10oz bars are more convenient.
