I want to buy a gold bullion bar. Here's what I found so far. Gold Spot + 3.2% Right now that would work out to approximately: $1294 + ($1294 x 3.2% = $41.40) = $1335.40 No shipping charge; I can drive there (okay, costs 2-3 gallons of gas). No tax; over $1000 bullion purchase in Maryland is tax free. So the $1335.40 cost would be the bottom line. Anyone know of a less expensive price?
You might find a cheaper price if you search enough, but I'd say that's about as good as you're going to get.
I did some more searching in the MD/DC/VA area and not only didn't find anything better BUT was annoyed that in all but one place the dealers gave NO indication of how much they'd charge. And the one place that gave a quote only sold in quantity (if I wanted to buy 25 or more ounces it was around $1315/oz; WAY too much money for me). The first gold bar I bought (from the same MD place that I quoted above) I got at $1242/oz and with their 3.2% it worked out to be about $1282. Of course it immediately dropped down to about $1220/oz (I said "Oops") but since then has stayed above my original investment. Their buy-back price is spot minus $10 so I need the spot to be about $1295 to break even. What's been surprising me is that gold and the stock market have been moving the same direction. Generally if the market goes up gold goes down and vice versa. Fortunately since I can't even begin to understand the market I don't do stocks.
at GoldDealer.com (C.N.I.) they have 3 brands of gold bars for $1319.60 shipped to your door. no 2-3 gallons of gas. but balanced against that at the LCS with cash there's no record of what you bought. at least that's how they work around me.
