I have a small budget and have 3 options a) Buy small amounts of 999 gold (ingots) at a high premium (14 to 24% above spot ) (NO BUY BACK) b) Buy small amounts of 995 gold (ingots) at a low premium (2 to 3% above spot) with a spread between the 'we sell' and 'we buy' price of 5% c) Buy 916 gold (coins) at a lower premium (around 9% but less than 10%) and with a spread between the 'we sell' and 'we buy' price of 6% The catch is that option C is the easiest to sell back (open market and not back to the producer) and option B is the hardest to resell. What's your opinion guys?
Well, I thought of stacking a couple of oz's a month and after 2 months trading for gold.] Somehow prefer gold to silver. Anyways, which would you choose?
Question for you sir if I may? I hear you talking of buy and sell prices, which makes me think you're considering buying into and out of gold positions? If so, does that mean you're looking to try and time the market, buy on dips, sell on peaks? IF that is the case, perhaps a respectable ETF may be a wiser choice, and allow trading in and out of positions without the hassle of physical metal movements? If - on the other hand - you're not looking short term, and are intending to stack, my simple advice to you would be to pretend the buy back prices don't exist. All of this depends on what you're stacking for - and I hope my memory doesn't let me down here, but I seem to recall referring to this back in a thread you had in the Silver forums a few days ago - that may be worth re-reading. I'm also always extrememyl happy to be PM'd if you have questions that you may wish to ask, but aren't ready to on a public forum/thread
Alright, will PM you shortly and no, I'm not trying to time the market at all. I'm just trying to get opinions, that's all.
Why do you want to buy and sell from ( I assume ) the same source ? Look for the lowest price above spot and buy. Look for the best deal on selling but maybe to a different buyer. Typically you can buy small amounts of gold at around 5% above spot and sell at 96% or maybe 98%. Either way the margin you need to recover to breakeven will be on average 10% or thereabouts, possibly much higher if you buy the wrong gold. Difficult to make a profit on the smallest deals unless very patient. Buy silver if there is no tax to pay as you get 50 times the weight and therefore smaller denominations to trade.
Or talk with Goldstackers about their unallocated program whereby you can buy small amounts when you can afford it and eventually convert that into actual holdings.... Just another suggestion
I buy gold jewellery on ebay at or below spot at times. Most purchases have been in the $30 - $150 range.
Premiums hurt, man. You're never guaranteed to get that same premium when selling. Though, if you buy at/close to spot, you should always be able to get spot for your metals.
Do you know that there does not appear to be any instances of Malaysian Gold Dirhams sold on this site? I wonder how many Gold Dirhams and Silver Dinars you would need to sell to afford to buy a Gold Dirham of your own? Have you got any pictures? How much are they?
Dirhams are silver and dinars are gold The ones on the left are 1 Public Dinar (4.25g) with CoA made from 916 gold by a local and famous gold company called Public Gold. They sell dinars,silver bars, gold bars and etc. The one's on the right are Dinar KGT (Kelantan Gold Trade). These are 1/2 dinars (2.125g) made of 917 gold and is backed up by the government of Kelantan. It's also the most preferred and famous dinar in Malaysia as it's mostly used to trade essential goods. (Mostly in Kelantan only) Other states do trade but very rarely. In conclusion, The most preferred dinar is the KGT dinar and second would be the Public Dinar. Public Dinar is mainly for investing and the KGT is mostly for trading come investing and it also is one of the most expensive dinar's in Malaysia. Info : Public Gold : http://www.publicgold.com.my/v1/ Kelantan Gold Trade : http://www.worldislamicmint.my/
Hi Bryan You have good collection of gold coins there. Will only be recognise in Malaysia I guess. Try to get as puress as possible. 9999% Now adays gold shop in Singapore only sell 999 gold. They dont bother to sell 916. I dont know about Malaysia ; maybe the same. Its going to cost you a fortune. Every country have its own favourite gold. Popularity is important , just a suggestion. Perth mint cast bar, minted bar, coins are recognise here in Australia. But then you have to think how you going to liquid them in the future , especially bigger bars. Just a comment as I can see you only have coins at the moment. Well done.
Oh yeh I wont touch silver if I were in Malaysia there are not popular. Try to stack your gold. I think you know better than me. Australia is different again . Silver is quite popular here. Just a hint.
My answers: 1) If you are really low on budget and live in an Anglo-saxon country, then go for silver! 2) Otherwise I'd prefer to own some gold and would pick (a) for the sake of pure gold (24 k) and provided that I can find with premiums under 14 %. Because I know merchants selling lower. Search, search and you will find lower premiums! 10 % under spot for .999 24 k is possible!
The problem with Thai gold is that its.... well its Thai gold! Pure bullion is not common at all, almost all gold is 23kt, sold in 'baht' weights that are unique to Thailand (one baht is close to one troy ounce but not quite the same). On top of that it has a very distinctive colour due to the silver/copper alloy used. In short the spreads are small, but resale anywhere other than in Thailand is not going to go smoothly.
