purchase price versus sale price of gold?

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  • Mon, Jun 06, 2011 - 10:32pm

    #1

    Dirk Campbell

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    purchase price versus sale price of gold?

Apologies for probably asking a question that has been already asked and answered years ago but I am considering buying gold coins. The asking price of gold is around £1000 an ounce currently and I can’t find reliable information on what dealers are paying – anyone know? If the differential is too much I’ll consider paying off my mortgage instead.

  • Mon, Jun 06, 2011 - 11:05pm

    #2
    Chucks688

    Chucks688

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    At my local coin shop…

For gold bullion coins at the local coin shop they sell 1 Troy Oz coins for 5% above spot. (They use http://www.coininfo.com/ and are usually pretty good about any fluctuation that happens while in the shop.  Fractional Oz coins are progressively higher premium for smaller fraction (8% for 1/2 oz, 10% for 1/4 oz, etc.)  Bars usually have a premium of X per Oz. 

They buy coins for 2% under spot.  That is a general rule.  Silver is similar except that it is usually a set $ premium as opposed to a percentage.  They were paying spot + for Silver Eagles a few weeks ago before the market went wonky.

 

  • Mon, Jun 06, 2011 - 11:35pm

    #3

    Dirk Campbell

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    Thanks for that Chuck. 

Thanks for that Chuck. 

  • Wed, Jun 08, 2011 - 02:13am

    #4
    Ken C

    Ken C

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    Buy Sell Differential on Gold coins

I just checked APMEX and they sell (one coin) at 5.2% over spot and buy the same for about 2% over spot. This is for 1 oz gold eagle

  • Wed, Jun 08, 2011 - 02:59am

    #5
    12bones

    12bones

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    bullion vault

Does anyone use Bullion Vault ? If so what kind of tax info do they send you at the end of the US tax year. Is it considered a foreign account ? Thanks

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