Looking for buyers / sellers for Gold!!! 17 posts by 9 users

Posted: 09/17/2008 at 10:21AM

Looking to network with others that have access to Gold or wishes to purchase Gold. We also have emeralds and diamonds resourses as well.

Posted: 09/17/2008 at 12:56PM

I sense a bubble.

Posted: 09/29/2008 at 09:53AM

I am working with gold buyers and sellers and diamonds and precious stones. Please email me of what you have available in these markets and let's do business!
Thanks,
Patricia

Edited: 09/29/2008 at 10:20AM by Moderator: email removed

Posted: 10/01/2008 at 06:53AM

I find that hard to believe. Its gotta be just his sales pitch.

What kind of money do they make on the transaction? Do they charge a commision like buying and selling stocks?

Ya think?

There are two problems with investing directly in gold bullion. One is the "premium" that gets charged over the base price. If spot gold is, say, $900/oz, it will cost you maybe $930 or $940 to buy a gold bullion oz, maybe $960 to buy something like an American Eagle coin. Then, you have to pay sales tax.

Like many investments, these guys make money on the "spread". There are two different bid and ask prices. They sell to you at a higher price than they buy.

Posted: 10/01/2008 at 07:31AM

Every time I hear gold mentioned, it strikes me as so strange how our markets work. Literally, anything that is standard enough, people will trade it back and forth.

Other than our money being backed by it (hahaha) it really has no use, but we still buy it back and forth.

Posted: 10/01/2008 at 04:22PM

OK, so just looked at one randomly chosen web site. Spot price right now is $874.50. Price for a 1 oz bullion bar is $905.10, quantity 10. That's a $30.60 premium, 3.5%. A 10 oz bar is $8981.10, so a fair bit less premium.

Half ounce American Eagles are $473.10 or $946.20/oz.

On another site, I found bars for $905.50 and 1oz Eagles for $923.10, minimum 5 on either. This site listed buy prices at $863.55 for bars and $876.55 for Eagles.

Plus sales tax. depending on where your are, its pushing 10%. Pretty sure you don't get your sales tax back when you sell, since that goes to the state on the purchase, not the dealer.

Posted: 10/01/2008 at 05:18PM

I was going to buy a couple more Krugs today, but there were no 1 oz coins in Krugs, American Eagles or Maple Leafs at the online dealer I use. My local dealer almost never has any sellers, only buyers.

Posted: 10/01/2008 at 07:33PM

I've never considered buying selling any sorts of metal, so just out of curiosity, where do you physically keep these metals? I'm assuming you don't want to just load them into the garage next to the golf clubs.

Do the companies keep them for you?

Posted: 10/01/2008 at 09:03PM

Gold and silver are getting scarce. I wouldn't be surprised to see $1000.+ gold very soon. And who knows? $50 silver?