I'm looking into buying a 1 ozt Gold bullion coin soon. With spot around $1604 I can get an AGE at 1660.60 from Provident. An AGB costs $1678.30 from the same place. Kitco sells the both for $1684,41, at this time. This is all plus S&H&Ins. I'm leaning toward the Gold Buffalo only because they are .9999 pure and look great. Do your local coin shops or bullion dealers sell for less? And do they charge sales tax? That would dissuade me from buying locally. I'm in California, and don't know if and when there'd be a tax on a cash buy of PM's. Anyone here with that experience in N. California? I'd like to hear other's experiences when buying PM's with cash.
Bruce, I'm sure you could buy for less in Sacramento or Elk Grove. The guys who used to be out at Denio's are still doing business on Elk Grove Blvd. I forget the name of their shop but you know Mike, go check him out. Also, right on Freeport Blvd. is a newer family shop goes by the name of Land Park Gold & Silver, the owner's name is Jeff. Either one of these guys will give you a good deal but Mike is more likely to have gold ounces for sale. Everyone I know charges tax but all you gotta do is haggle until you get what you want. They want to make a sale so they will lower the bar for you. :thumb:
You should probably know this. Sales Tax. California residents will be charged sales tax. Please note that the purchase of coins and/or bullion with a price, including the buyer's fee, in excess of One Thousand, Five Hundred Dollars ($1,500.00) is exempt from California sales tax. This $1,500.00 rule only applies to coins appearing on the same invoice and does not apply to catalogs, numismatic accessories or membership fees. The other thing I think I should point out to you is this... http://www.goldmart.com/bullion-1/gold-bullion/american-gold-buffalos.html and to be totally fair, I've done lots of business with Provident and never been let down. I've never spent a dime with goldmart, but plan to do so this week, if spot cooperates.
Ah, the voice of reason..... What are you looking to do Bruce? Invest in gold or grab a 'fancy'? Investor (green) says go for the Buff but collector (green) likes the AGE. Such a dilemma.......
The price difference between the 2 is quite small, so, as others have said, I would purchase what you like best. If appreciation potential is your goal, I would consider a 70-grade First Strike or Early Release Buffalo PROOF. I pretty much despise modern graded bullion and especially don't like the First Strike designation, but, in terms of what the masses prefer right now, the preference is definitely Buffalo, Proof, 70, First Strike. Of course, the premium on these is currently pretty hefty.
Thanks or all your input. I do think that the AGB is the more beautiful coin of the two. I already own a Proof AGB. And a number of ASE Proof sets and a slabbed ASE graded coin. I just want to put some more $ into bullion,; either Gold or Silver. I'll check my local coin/bullion dealers and see what they will have to offer. With the Ca. sales tax and their premium I might be able to do better with Provident or another PM dealer. We shall see soon.
No sales tax in California on bullion purchases over $1500, as PeacePeople said. Unless gold takes a huge dive before you buy you shouldn't have to worry about it.
You're buying bullion, looking for the lowest prices and posting about this in an investment section of the forum... You can choose what you are after design wise if that appeals to you, and while the price between the two isn't all that different/significant to persuade you one way or the other, it sounds like you are trying to maximize the amount of gold for the money. The AGBs haven't been around as long as the AGEs but they shouldn't have any problem being easy to resell if you need to, though I'd say bullion AGE are the easiest to liquidate. I'm not sure if AGB are allowed to be added to IRA holdings as are AGE, not that that is your interest either. At any rate, don't limit yourself to the big retail bullion dealers like APMEX and Provident for price comparisons. There are other bullion dealers who you may be able to open individual accounts with for small purchases. Those US Mint APs, like A-Mark (located in Santa Monica, CA) may be one option, though they may not always have the products you are looking to purchase. I mention the APs because some of them (like FideliTrade in Delaware) began offering products to individuals when the 5 oz ATBs released, whereas before they were more commercial account oriented or required enormous orders in the past to work with them. These companies have less of a retail operation and may offer you better quotes than places like APMEX and Provident with more overhead and shipping costs built into their prices. Just some things to think about as you make up your mind.
I should have bought an AGB when I first started this thread, But other unexpected expenes came up, (a new refrigerator) and I put off buying what I wanted. So, now that prices are a bit higher, I'm going to visit the 2 or 3 Bullion dealers around my area, and talk them up and see what they'll sell an AGB or an AGE for. If I come back a couple of times and buy some PM from them, then they'll see that I'm seriour buyer.
if the buff is a bit more expensive than the age, i'd go with that. If it's way more expensive, i'd just go with an age. just my opnion.
I'll be checking out the 2 or 3 Gold and Silver coin stores that opened up around here lately. I'll buy some stuff beore I buy the gold I want.
