I was at one of my local coin shops Monday and they had about 4 1 gram Pamp bars. They are older in a different more plain white packaging than what I have been seeing on ebay. The owner said they wanted $57 per. That comes to $1772 per oz. The 1/10 oz gold coins they have are spot + 20%. These are loose in air-tites. I don't have any gold in the pile and would like to maybe add some. Would the Pamp bars be a decent deal? I was thinking about getting 3 of them so I would be right near 1/10 oz. Or, should I maybe go for the coin?
I would check around a bit more, including looking at other local dealers if possible. I have noticed my dealers here vary quite a bit, my prefered LCD is normally running around 5-7% mark-up, with 20% above spot you might find better deals at provident or one of the other reputable online dealers. Personally I have purchased only the mexican peso gold as I have found for coins they have the lowest mark-up in my town, right around 5%. I have also been intrigued by some of the Perth mint 5/10g bars that at least on provident run less than the Pamp.
it is a novelty, but collectors consistently pay higher than spot for them. Even the crappy instabul ones fetch around $60 on ebay. I know the credit suisse bars have the white paper assay cards. If it is an older bar, could be worth more money.
The 1 gram bars are a better buy than the 1/10 at $190 IMO. If the GAEs were around 180, it would be more even. But 1 gram bars generally aren't cheap, online dealer or not.
Ebay buyers overpay for almost everything. Find out what your local dealer will pay for them. If times get tough and the internet is down, that's what you will get. I'm not saying I think this will happen, but that's the situation that justifies the small bars.
If times are that tough, I do not plan on selling to a local stealer. If it's bad enough that internet is down (I'm guessing youre talking about for everyone), you'd have bigger problems on your hand than selling your 1 gram gold bars to them. But I guess you have a point, if you are in poverty, the world hasn't ended, you don't have very much metal (since online dealers normally have a minimum), and lack an internet connection (to sell on ebay or craigslist). For me, at least, in most cases selling to a B&M dealership is the worst case scenario. Only a pawn shop is probably worse.
Once again depending on where you are the OP should probably look at the peso's. Widely recognized in the Americas, lowest premium and a variety of sizes to make purchase/distribution easy.
Yeah, I can buy Mexican gold, (20 and 50 pesos), for spot basically. I would say you are better off saving up and buying a 20 peso piece.
Very true but for me waiting wreaks havoc on my dollar cost averaging. I try to pick up a 2/2.5/5 peso piece (depending on finances) every month, started buying at $1900/oz and am buying now at $1600/oz.
Pesos are nice. Premiums used to be smaller before, but seems like more people are picking up on it and other foreign gold. Only thing that's kind of a pita is the weird fractional amount. But an easy way to determine gold content is simply to divide by the 50 peso amount since the gold value is 1.2 troy ounces and easy to remember. 2 peso / 50 * 1.2 = .048 toz 2.5 peso / 50 * 1.2 = .06 toz et cetera
I like Mexican gold also. The calendar design on the 20-peso piece is especially interesting and unique.
that is a very good deal on 1 gram gold bars, especially pamp which goes for more of a premium than others
That is what I was thinking. I have looked at them on ebay for BIN prices and $70 with shipping is about normal. Been tossing around the gold idea but will probably stick with silver. Atleast until silver gets back to the mid-$30s.
If you want my advice, you should buy the 1 gram bars, especially if it's in some sort of old style holder. Do you know what type of bar it is? If it's CS/PS, dealers will sell them for $75 - 80 each.
If you want some small quality gold in the pile then purchase 1/10 ounce AGEs. You can always sell these and get most of your premium back as they are very popular.
