purchase price versus sale price of gold?

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Dirk Campbell's picture
Dirk Campbell
Status: Member (Offline)
Joined: Dec 4 2009
Posts: 17
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.

Chucks688's picture
Chucks688
Status: Member (Offline)
Joined: Mar 13 2011
Posts: 23
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.

 

Dirk Campbell's picture
Dirk Campbell
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Joined: Dec 4 2009
Posts: 17
Thanks for that Chuck. 

Thanks for that Chuck. 

Ken C's picture
Ken C
Status: Platinum Member (Offline)
Joined: Feb 13 2009
Posts: 753
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

12bones's picture
12bones
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Joined: Feb 16 2011
Posts: 7
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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