What should I be paying over spot?

Discussion in 'Gold' started by TODDY TATTS, Jul 24, 2015.

  1. TODDY TATTS

    TODDY TATTS Member

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    I am a silver stacker but with gold becoming so cheap I am thinking about purchasing some. What is a fair premium to pay in AUD per oz?
     
    TODDY TATTS, Jul 24, 2015
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  2. -j-p-shmorgan

    -j-p-shmorgan New Member

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    How much silver can you buy for 1oz gold?
    Which one do you think will triple in price first?

    ^ those questions got me out of gold, and into a much bigger position in silver. :)
    Just food for thought.
     
    -j-p-shmorgan, Jul 24, 2015
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  3. TODDY TATTS

    TODDY TATTS Member

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    Well my wife likes gold and as they say happy wife happy life ;)
     
    TODDY TATTS, Jul 24, 2015
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  4. Porcello

    Porcello New Member

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    It depends on what physical form you want and what volume. I guess it may vary between 2 to 6 % if you look at full 1oz. Bars obviously cheaper than coins.
     
    Porcello, Jul 24, 2015
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  5. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    That's what I did. Started stacking gold first then jumped to silver.
     
    Skyrocket, Jul 24, 2015
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  6. Porcello

    Porcello New Member

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    Same here. But gold has a great importance for me due to its high price per mass (transportability). I don't really belong to where I am now and if I have to bugger off I'll be much comfier with gold than with silver. If I were to stay where I am for the long run my allocation of silver would be much larger than gold.
     
    Porcello, Jul 24, 2015
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  7. dragafem

    dragafem Well-Known Member Silver Stacker

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    think about when you have to run...which one is easier to carry? ;)
     
    dragafem, Jul 24, 2015
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  8. -j-p-shmorgan

    -j-p-shmorgan New Member

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    I'm prepared to exercise my 2nd amendment if need-be.
    Running is for commies.
     
    -j-p-shmorgan, Jul 24, 2015
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  9. TODDY TATTS

    TODDY TATTS Member

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    1oz $36 over spot at my local dealer.
     
    TODDY TATTS, Jul 24, 2015
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  10. -j-p-shmorgan

    -j-p-shmorgan New Member

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    There's gotta be good reason for this.
    It sure isn't a lack of physical silver availability.

    Numismatic value? Old poured bar?
    Surely there's SOME reason to influence $36 over spot. lol
     
    -j-p-shmorgan, Jul 24, 2015
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  11. Porcello

    Porcello New Member

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    He's talking about gold, obviously. 36$ is between 2 and 3% which is pretty good. I take that you are looking at a poured bar, there, right?
     
    Porcello, Jul 24, 2015
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  12. BoliverT.

    BoliverT. New Member

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    If you are after a low over spot price for gold, the 50 Peso Mexican coin seems to be the most gold for your dollar, I bought one from Provident it was the cheapest place I could find, and it is a beautiful piece with a hefty feel to it.
     
    BoliverT., Jul 26, 2015
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  13. -j-p-shmorgan

    -j-p-shmorgan New Member

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    LOL, yeah - seems legit. Didn't realize I was in the gold section. lulz
     
    -j-p-shmorgan, Jul 26, 2015
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  14. bax

    bax New Member

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    Looking at pricing today 29 Jul15, the Aust price of gold is $1491.50 per oz, (or $1095.30 US per oz).
    To purchase a 1oz cast bar in Melb costs $1547, a premium of $56 over spot, or a 1 oz coin costs $1548, or $57 over spot..
    Hard to work out how or what is the lowest acceptable premium over spot?
    From history it seems that about 3.5- 4.5% over spot..
    Any one have any better suggestions..
     
    bax, Jul 29, 2015
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  15. TODDY TATTS

    TODDY TATTS Member

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    Thanks guys it would seem $36 over spot is more than fair for 1oz of gold.
     
    TODDY TATTS, Aug 3, 2015
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