Yeah, I missed my chance when I thought of buying gold when the news said it was at its lowest at $300 an ounce. The thought has resurfaced again. I thought others may also be thinking the same.

I want to buy in small increments, one ounce or fractional ounces of gold in plain form (not currency coins). Of course, I’d like to buy from a reputable dealer and relatively low cost.

Anyone have any sources and tips, like how much is low cost?

I have purchased from APMEX. Buying in small quantities (single coins) is more expensive than multiples. Today's price on a gold 1oz round is about $80 over spot if you pay by wire.

APMEX is one of a handful of authorized purchasers for bullion coins from the US Mint

Are you a Costco member?

They have been selling Gold Coins (US/Canada) and gold bars. They typically sell out pretty fast when available, but as of this post, a Candian Maple is available online. You can pay by CC and get cash back.

That Costco deal puts the acquisition cost at a few bucks above spot. An excellent deal.

quote:

Originally posted by sig 226:
Are you a Costco member?

They have been selling Gold Coins (US/Canada) and gold bars. They typically sell out pretty fast when available, but as of this post, a Candian Maple is available online. You can pay by CC and get cash back.

Thanks for that heads up. I went ahead with a transaction. I looked at Costco the first time I heard they were selling gold. But when I checked, they were out. Do you know if there's a way to get notified whenever they have them?

quote:

Originally posted by scratchy:
I have purchased from APMEX. Buying in small quantities (single coins) is more expensive than multiples. Today's price on a gold 1oz round is about $80 over spot if you pay by wire.

APMEX is one of a handful of authorized purchasers for bullion coins from the US Mint

Thanks for that lead.

Have have a few tabs open so I can compare. Pretty much look at the special. Fractional (1/10 oz) is the top selling gold product eight now compared to the 1 oz. I pretty much stick to the sovereigns in fractional. Of course there's fractional gram bars as well. Just picked up a random 1/4 oz coin (their choice) for $620 from SD Bullion. Others like JM Bullion, Hero, Apmex, and MoneyMetals couldn't quite beat that. There's been a slight pullback and premiums on 1/10, 1/4, and halves and aren't outrageously more than the 1oz but it is better to get a little now instead of waiting and saving for the 1 oz coin and missing a dip. I would probably get a Gold Eagle over a Buffalo at this point. You may pay more but chances are you will get more selling back.

I am also preferring the US mint coins over non mint bullion. No idea if I'm on the right track with this.

I'm also only in for about 20K. I am certainly not an expert.

As a dealer I can almost always compete with the online dealers and beat their prices, the issue we have is with the shipping. It is not the shipping that raises the cost its the insurance. The other thing to consider is that most of the popular sites like SD and Apmex is their "spot ask price".

Normally they have their own spot price on gold which is $12-$15 above spot ask and in the gold market that is the cost of shipping. The other thing is the wire fee most banks are $20 to $25 per wire. I know most sites will lock in the price if you do ACH or mail them a check.

Buying 1oz of gold those little fees add up and really add up, if you can buy multiple that spreads the cost out. Even as a dealer with a dealer's license any order less than 5oz is a flat $20 shipping over 5oz its free so I usually will wait a day or see if any more orders come in to spread out that cost and save that shipping cost.

The average profit for us on gold is 2-3% over cost, thin margins but you make it up in volume. I would say if there are no local dealers in your area, shop around and check the major sites SD,Apmex,Liberty Coin, or JM they occasionally have some sale. Send them a check or ach if they offer that and save the wire fee, same thing with shipping, go for the free shipping. Its not going to hurt to wait an extra 2-3 days over express.

quote:

Originally posted by Rey HRH:

quote:

Originally posted by sig 226:
Are you a Costco member?

They have been selling Gold Coins (US/Canada) and gold bars. They typically sell out pretty fast when available, but as of this post, a Candian Maple is available online. You can pay by CC and get cash back.

Thanks for that heads up. I went ahead with a transaction. I looked at Costco the first time I heard they were selling gold. But when I checked, they were out. Do you know if there's a way to get notified whenever they have them?

There are two methods I personally use..

1) I was able to add a buffalo/Eagle to my Costco wish list and I will refresh that on a regular basis and it will show if it's available.
2) I follow a reddit sub group which posts when there is availability and I get a notification to my phone.

quote:

Originally posted by harvey976g:
As a dealer

Question: the Canadian Maple leaf is "1 oz 9999 fine" while the American Eagle is "1 oz 9167 fine."

Does that mean, the American Eagle weighs more to get to 1 oz of gold or does the American Eagle have less gold?

Both have 1 oz of gold. AE weighs more.

quote:

Originally posted by Rey HRH:
Question: the Canadian Maple leaf is "1 oz 9999 fine" while the American Eagle is "1 oz 9167 fine."

Does that mean, the American Eagle weighs more to get to 1 oz of gold or does the American Eagle have less gold?

The American Eagle coin has 1 oz of gold, so it does weigh more. Added to the gold is a tiny bit of silver and copper for hardness and durability, enabling the coins to be in circulation for longer periods of time. I have both Maple Leafs and AEs and the Canadian coins have small scratches on them, the AEs don't. And I bought my stash of gold coins from APMEX 15 years ago, they were a great company to deal with.

quote:

Originally posted by Rey HRH:
Anyone have any sources and tips, like how much is low cost?

I only buy 9999 coins. I just like the color better, no other reason. They go in capsules on arrival to keep the scratches off.

Buffalos have to be under 5% premium. Maples, brits, phils, roos, under 4% for 1 ounce coins. For 1/4 oz, under 7%. I don't buy any other fractionals. My current list of go to dealers includes SD and JM Bullion, Monument Metals, Bullion Exchanges, Oak Finance, Aydin Coins, Liberty Coin, Money Metals Exchange, Provident Metals, and Bold Precious Metals. Whoever has the lowest premium on what I want when I want it gets the order. If it's something uncommon, I'll go to APMEX. They will usually have it, but their premiums are usually higher. I have ordered multiple times from the above group, both gold and silver, and have never had a problem with any of them. Check or E-check. Don't pay the premium for cc.

Getting new precious metals is as good as sex. (Sex used to be better but I'm old now.)

Good luck and have fun!

ETA: Dollar cost averaging is your friend.

Check this place out. I have a good friend that uses them and is completely satisfied, and they hold the gold in their depository for a small fee (less than shipping). We're local so he just make an appointment and drives there but it is like a mini fort knox. I use APMEX because of the variety.

I've used Gainesville in the past for 1oz Maples. At the time they had the lowest premium of all the majors. That was a number of years ago so not so sure about now.
https://www.gainesvillecoins.com/

quote:

Originally posted by P220forever:
I've used Gainesville in the past for 1oz Maples. At the time they had the lowest premium of all the majors. That was a number of years ago so not so sure about now.
https://www.gainesvillecoins.com/

Gainesville is good to go
Monument metals also
I do deal mostly with a very good local pawn/coin shop, but occasionally get a deal online , it’s usually when they are out Of stock locally and I get an itch to buy that day

I'de go Costco first, but Silver Doctors sent me a few and it worked out, even if I was not that happy about it.

Ordered multiple gold rounds once when the local folks were out. They sent it first class mail, not very well packed. I was stunned, but I suspect it was done that way to avoid scrutiny from criminals. So, it got here....but.

https://sdbullion.com/gold/ame...-oz-gold-eagle-coins

Could be a good day for a buy. Gold is down 2.5%, last I checked. If it breaks thru 2300, definitely a buy day.