Gold price?

Discussion in 'Gold Coins' started by Stexe, Apr 28, 2011.

  1. Stexe

    Stexe New Member

    Joined:
    Apr 19, 2011
    Messages:
    191
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Melbourne CBD, Australia
    Hi everyone,

    Just wonder how much would you consider gold prices as expensive to be purchase, in 5g, 10g, 20g and 1oz? What would be the best range favorable for purchase in current market? Sorry for the noob question! Thank you for the replies! =p

    Have a great day and take care, everyone!

    Best regards,
    Steve
     
  2. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

    Joined:
    Sep 1, 2010
    Messages:
    3,572
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Brisbane/Greenbank
    Find the average premium over spot for the following gold

    * perth mint coins ( 1/20 oz, 1/10 oz, ..1 oz )
    * sovereigns and other older circulating gold coinage
    * nuggets
    * scrap jewellery

    If you pay more than the average your gold is expensive.
     
  3. PrettyPrettyShinyShiny

    PrettyPrettyShinyShiny Well-Known Member

    Joined:
    Feb 20, 2011
    Messages:
    1,262
    Likes Received:
    60
    Trophy Points:
    48
    Location:
    NSW
    Whats the difference between this market and last years market for gold? I'v been told buy in 1 oz increments. But if you aint got $1500, you aint gonna buy an oz, are ya! Would I suggest you wait a few months til you have saved fifteen hundred bucks to buy an oz? No. Buy what you can afford now. search around for various prices (especially fromthe dealers on here). If you can't get it cheaper, than it's a pretty decent price. Everyone wants to make a cut and the consumer doesn't want to pay for it..but has to somewhere along the line.
     
  4. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    580
    Trophy Points:
    113
    You buy silver and then trade it for gold when you've got the GSR in silver ounces.
     
  5. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

    Joined:
    Sep 1, 2010
    Messages:
    3,572
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Brisbane/Greenbank
    Keep buying silver til you have enough to trade for a half sovereign, and keep doing it.
     
  6. PrettyPrettyShinyShiny

    PrettyPrettyShinyShiny Well-Known Member

    Joined:
    Feb 20, 2011
    Messages:
    1,262
    Likes Received:
    60
    Trophy Points:
    48
    Location:
    NSW

    Yep. You're right. I'll pay that. I didn't want to over complicate it buy throwing in the GSR. But yes, it is a great way to make the most of differences in gold and silver price.
     
  7. hiho

    hiho Active Member Silver Stacker

    Joined:
    Apr 4, 2011
    Messages:
    7,816
    Likes Received:
    21
    Trophy Points:
    38
    Location:
    South Brisbane
    Fractionals are at a premium but more liquid when wanting to convert and you get the same or similar premium when selling
     
  8. Stexe

    Stexe New Member

    Joined:
    Apr 19, 2011
    Messages:
    191
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Melbourne CBD, Australia
    Thank you all for the info~ I also chatted with RedBack yesterday. Very smart guy! Enlightening =) But according to current market, isnt it take some time for a better GSR ratio. Don't think anyone at this stage will trade 1kg silver for 1oz gold?

    Thank you for answering. I am still very new in these. Have few fractional gold coins and bars. But am actually thinking to increase my gold part as I not sure with the silver market..It seems very volatile..What you guys suggest?
     
  9. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    580
    Trophy Points:
    113
    People were trading kilos of silver for 1/2oz of gold on here last year ;)
     
  10. fishball

    fishball New Member Silver Stacker

    Joined:
    Apr 11, 2011
    Messages:
    6,509
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    Shin Sekai Yori
    You could try and get some 1/10oz Lunars, 10 of them would be around $1600 AUD if you're lucky and imo their premium is well worth it :p
     
  11. Nugget

    Nugget Well-Known Member Silver Stacker

    Joined:
    Aug 16, 2009
    Messages:
    4,505
    Likes Received:
    42
    Trophy Points:
    48
    Location:
    Brisbogan

    Franklin Sanders (http://the-moneychanger.com/commandments.phtml) suggests buying fractional gold first then moving onto larger (ounce) sizes later. He also suggests buying silver first.
     
  12. hiho

    hiho Active Member Silver Stacker

    Joined:
    Apr 4, 2011
    Messages:
    7,816
    Likes Received:
    21
    Trophy Points:
    38
    Location:
    South Brisbane
    and where would that be you'd be lucky to get that price for 100
     
  13. bsides

    bsides Active Member Silver Stacker

    Joined:
    Nov 12, 2010
    Messages:
    500
    Likes Received:
    135
    Trophy Points:
    43
    Location:
    Australia
    imho i'd say that price is a bit ambitious.. :) $1700 would be a great buy..
     
  14. bsides

    bsides Active Member Silver Stacker

    Joined:
    Nov 12, 2010
    Messages:
    500
    Likes Received:
    135
    Trophy Points:
    43
    Location:
    Australia
    hi stexe,

    i'd stick to 1oz, and try and get it <5% above spot. so ~$1470 atm would be fair.

    maybe get 10x 1/10oz also.. for ~$1700
     
  15. hiho

    hiho Active Member Silver Stacker

    Joined:
    Apr 4, 2011
    Messages:
    7,816
    Likes Received:
    21
    Trophy Points:
    38
    Location:
    South Brisbane
    $173 ea on BM
     
  16. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,925
    Likes Received:
    6,515
    Trophy Points:
    113
    Location:
    Sydney
    Hi guys,

    I'm negotiating a deal on some 1g, 2.5g, 5g, and 10g PAMP & Perth Mint gold bars.

    If it comes off, I will look at direct swaps for silver coins. eg, 1& 1/2oz, 3oz, 6oz & 10oz respectively.

    Should know by this weekend.

    Cheers,
     
  17. fishball

    fishball New Member Silver Stacker

    Joined:
    Apr 11, 2011
    Messages:
    6,509
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    Shin Sekai Yori
    True that, probably won't be able to get 1600 anywhere, one of the advertisers on here are selling them for 1700 shipped though (2011 10x1/10oz gold lunars).

    Bullionmoney I think it is. Could be a good purchase to start off with!
     
  18. Stexe

    Stexe New Member

    Joined:
    Apr 19, 2011
    Messages:
    191
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Melbourne CBD, Australia
    Wow thank you guys for heap of info! Is like I am learning something new everyday! And this forum is way too addictive!!! Been clicking, clicking, refresh, refresh everyday..will definitely refresh at least 4-5 times an hour! LOL.

    I feel that I need to diversify a bit. Currently have about 90% silver, 10% gold. Not sure into getting 1oz, but getting fractional like u guys suggested will be great. Will hunt for any deals on this site..sadly, I am always the slow one..GUess I am not the only one keep refreshing the tabs =)

    Where do you all normally purchase gold from? Any guys know Pagnani Bullion? Saw them selling on eBay but never heard of them. Sorry if is one of the SS brand. I am just too shady in knowledge wise. Have a great day, peeps!
     
  19. Nugget

    Nugget Well-Known Member Silver Stacker

    Joined:
    Aug 16, 2009
    Messages:
    4,505
    Likes Received:
    42
    Trophy Points:
    48
    Location:
    Brisbogan
  20. col0016

    col0016 Active Member

    Joined:
    Jan 4, 2011
    Messages:
    2,466
    Likes Received:
    4
    Trophy Points:
    38
    Location:
    Australia, Melbourne
    He had a thread today saying he's been cleaned out. Unless you want his left overs i guess lol.
     

Share This Page