Got an email from APMEX on the "special" they are having on the 2010 fractionals. With spot currently at $1220/oz, the fractionals are $1366, $1400 and $1460 per oz for the 1/2, 1/4 and 1/10 respectively... What a ripoff!! And, that's not even counting the shipping.. Does anybody know a better place to purchase these? I'm in New York, any dealers?
Generally speaking, fractional gold coins will carry a higher premium than a 1-oz gold coin of the same type. Fractional GAE's are usually carry the highest premium over spot gold. With that said, a local dealer will probably be a better option just based on the fact that there is no shipping charges to worry about, however, if New York charges a sales tax on bullion, then that will have to be factored in the cost of buying a fractional gold coin from a local dealer in New York. I am not familiar with New York since I do not live in New York. I live in Tennessee.
Apmex has set extra high premiums the past 2 years when the new fractional AGE's are released. In a couple months they will lower the premium, they try to hype up the release.
I haven't checked recently but a while back I bought some fractional AGE's from APMEX. I just wanted some smaller coins because I felt that if I needed gold in an emergency and all I had was 1oz coins I might not get a fair trade. I didn't care what coin I bought I just wanted a recongized fractional gold coin. I was going to go for maples because alot of times they are cheaper but the best deal at the time was on eagles so that's what I got. I guess it depends on your purpose.
Does anyone expect the AGE fractionals to sell out rather quickly? I not familiar with any historical norm. One approach might be to get a few like minded collectors together and buy in quantity. I assume the thread auther had an extra special interests for AGE's. If not, then the least prem. on a round or bar might be a better choice for bullion.
If you want smaller gold coins that are closer to spot, you might take a look at the 20 Swiss Franc or the French 20 Franc "Rooster". They are .1867 of an ounce and usually sell for about $20-25 over spot ($260 each at today's spot price) They are roughly the size of a nickel.
