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Re: Long-term chart

By: micro in GOLD | Recommend this post (0)
Thu, 02 Jun 22 6:28 PM | 227 view(s)
Boardmark this board | Gold 		Msg. 00020 of 00028
(This msg. is a reply to 00017 by Decomposed)
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Hi De!

Back from messing around with clients..

Hey, that price check at Boston Bullion is great.
So, when ya go to redeem the gold one owns, can you expect to get the market price when ya sell them back ??

How does that work?

OR, if I were to buy a LOT of Gold say somewhere and don't necessarily wantto have the physical gold, can I cash it in later when I think it is time to sell??

Just trying to wrap my head around this.. I dang sure don't want the gubmint deciding I need to ante up my physical gold to them cause Biden has spent us into oblivion .......

TY!


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The above is a reply to the following message:
Re: Long-term chart
By: Decomposed in GOLD
Thu, 02 Jun 22 4:50 PM 		Msg. 00017 of 00028

micro:

Re: “So, with these things in mind, as the resident Gold investor and researcher, WHY should someone BUY GOLD and what do you do with it if you buy Physical gold when you want to sell it?”Thanks micro.

Gold doesn't just come in 1oz portions. Gold sovereigns and francs weigh in at .186 ounces and are smaller than a penny. You can buy and sell them from/to any reputable coin dealer.

Similarly, the shops that sell krugerrands, American Eagles, Chinese Pandas, Canadian Maple Leafs, etc., will buy them from customers. There's usually a commission whether the customer is buying or selling. Today, for instance, gold is $1,868/oz, and a 1oz and an American Eagle is $2,144 at Lear Capital. That's a $276 commission, which is very high. That's partly because American Eagles are collectibles but it's mostly because Lear Capital advertises on Fox News and charges customers an arm and a leg. You'll get a better price on the less collectible South African krugerrand... currently $2,124 at Lear.... and still better with a 1 oz gold bar - which Lear doesn't sell.

If you're making a sizeable transaction, 10 oz or more, a local jeweler will probably be happy to work with you. I've never gone that route, though, so I don't have practical tips on what might be involved. Make phone calls.

BTW, I just checked a different site, BostonBullion. Its Krugerrands - which, like the American Eagle, contain a full ounce of gold - are $1,915 right now. Only $47 over spot! Lear Capital, clearly, is ripping people off.

Also, BostonBullion.com has a prominently displayed "Sell To Us" tab: https://bostonbullion.com/sell-to-us/





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