Buying a gold bar

[Jikx]

I know you can buy the "paper" version on the sharemarket (ASX - GOLD), but where can you purchase a nice gleaming bar ?

[wayneL]

type "gold bullion" into google that might bring something up

In Perth you can buy gold at the mint.

Cheers

[serp]

A gold bar is pretty damn expensive.

[wayneL]

You can get 1oz ingots....~$600 AUD

On the other hand you can get a 1 kilo coin also...$19k or something. Wouldn't that look cool in your coin purse :D

[serp]

You can get 1oz ingots....~$600 AUD

On the other hand you can get a 1 kilo coin also...$19k or something. Wouldn't that look cool in your coin purse :D

Yeah I think Jikx might be talking about getting a big bar like the ones you see in the movies, they are mega dollars.

[wayneL]

Here ya go...up to 1 kilo bars

http://www.matthey.com.au/JMA_eService/RetailPriceBoardLogon.html

[Jikx]

That's the one! Thanks!

No.. I'm not looking for megabars haha, just minature replicas :o

[mime]

Paper is alot lighter then gold. But having an ingot would be something t cost about.

[clowboy]

Hey all

Bought my first Gold ignot from the perth mint about a month ago.
Cost roughly the USD rate by AUD conversion + about $30 commision.

The bigger the bar you buy the less the commision

The only drama is storing it but it's real cool to show it off.

[Smurf1976]

What about silver? Can you easily buy silver coins, bars etc in Australia?

In the USA people buy bags of coins with a face value stamped on them (less than a Dollar, I think) which are worth more in terms of metal than their face value. The idea is to hold them for the metal content but if the metal price did crash then they are still legal tender at face value such that there is effectively a guaranteed minimum price for them.

I have a nice SHG (super high grade) 99.995% zinc bar from Zinifex sitting on top of my monitor. Nice talking point for visitors but not too much value as an investment unfortunately. :D

[reichstag911]

Gold in Downtrend now.

USD in Uptrend now.

Gold in AUD is still sideways ...

[clowboy]

Yes you can also buy silver as well as platnium.

[mime]

Is a bar just an oz? I would get one but they cost around $430. Plus people would probably hear about it and I'd get probably robbed.

[Rafa]

found this old topic, so i thought i'd revive it after the recent stock crash...

What is the best way to leverage of the rising price of gold?

[Rockon2]

Gday Rafa :)

Q, leverage of the price of gold....

IMO , pointless buying the Physical stuff as in Bars of gold, ( I have done this years ago via Perth Mint ), as the commisson to buy/sell is high, they will store for you but at a price, and finally you would need an a lot of gold bar's (ounces ) large capital outlay, to make the exercise worthwhile..

Your best of buying shares in Major gold company's, look around there are plenty to choose from.... And as weve seen today, the price of these stocks immediatly follow up from last nights overnight move of gold bullion.. see chart.

And to gain leverage in stocks you can use CFD's or ETO's, and for the more experienced Gold Futures contracts.

[Rafa]

thanks Rockon...

I have a couple of gold stocks already...and your right, that they do move with the price of gold.... but they also move with other factors such as problems at the mine, etc, etc...

probably NCM is the best one, but even that has mine issues.

How do you go about getting Gold Futures Contracts... do they have time limits and expiry dates... or are they like installment warrants...

[Rockon2]

thanks Rockon...

I have a couple of gold stocks already...and your right, that they do move with the price of gold.... but they also move with other factors such as problems at the mine, etc, etc...

probably NCM is the best one, but even that has mine issues.

How do you go about getting Gold Futures Contracts... do they have time limits and expiry dates... or are they like installment warrants...



True but most gold miners move with the price of gold, to achieve an average buy 3 or 4 gold miners ......

Gold futures are like any other futures contract, They have are a set Contract size with set contract expirey dates, You would have to Join a Brokering firm that deals in Futures contracts ( they are a whole learning curve in themself ).. But IMO they a great to understand evan if you never trade them, at least you can understand why and how such large moves occur at times,, such as weve just seen on our major index's... .. The best part about futures contracts is its dealing with a large commodity's all done on a piece of paper. You can trade all sorts of stuff in futures these days, The mainstays are the major world index's. and then soft's such as sugar, wheat, cocoa. etc. Then oil, gas, evan electricity...

pm me, if want some the names of some Futures Brokers to follow up.
cheers and good luck.

[wayneL]

IMO , pointless buying the Physical stuff as in Bars of gold, ( I have done this years ago via Perth Mint ), as the commisson to buy/sell is high, they will store for you but at a price, and finally you would need an a lot of gold bar's (ounces ) large capital outlay, to make the exercise worthwhile..

Yeah the commission is a major bummer.

Futures or an ETF is the way to go.

With an ETF you don't have to worry about expiry dates etc. but will require more margin.

Cheers

[clowboy]

I have a few gold bars myself (perth mint) and aggree that the transaction cost really suck (but some physicall gold is good).

Also have some stock GOLD which is a company 100% backed by gold bullion (ASX listed). Each share is worth just under 1/10th of an once (the share/gold value reduces monthly by like 0.0002% or something - which is how they make there money).

It follows the price of gold really well (they have a chart comparing gold price to stock price over last x years and it is always within a 1-2% margin)


Also can margin lend on the stock


THIS IS NOT A RECOMENDATION just something I found to be exactly the kind of thing I required in terms of owning gold.


Cheers

[Rockon2]

Yeah the commission is a major bummer.

Futures or an ETF is the way to go.

With an ETF you don't have to worry about expiry dates etc. but will require more margin.

Cheers


Gday WayneL, whats an ETF??

[Rockon2]

I have a few gold bars myself (perth mint) and aggree that the transaction cost really suck (but some physicall gold is good).

Also have some stock GOLD which is a company 100% backed by gold bullion (ASX listed). Each share is worth just under 1/10th of an once (the share/gold value reduces monthly by like 0.0002% or something - which is how they make there money).

It follows the price of gold really well (they have a chart comparing gold price to stock price over last x years and it is always within a 1-2% margin)


Also can margin lend on the stock


THIS IS NOT A RECOMENDATION just something I found to be exactly the kind of thing I required in terms of owning gold.


Cheers


Gday cowboy,,

Stock gold ?? thats a new one for me again, can you give more description , cheers .

[wayneL]

Gday WaneL, whats an ETF??

Oh sorry!

Exchange Traded Fund... such as the one traded on the ASX mentioned above, ticker symbol "GOLD"

There is also the NYSE(New York Stock Exchange) ETF "GLD".

Cheers

[wayneL]

Gday cowboy,,

Stock gold ?? thats a new one for me again, can you give more description , cheers .

This describes the NYSE version ...GLD

FUND SUMMARY
streetTRACKS Gold Trust is an investment trust whose shares strive to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust holds gold, and is expected to issue baskets in exchange for deposits of gold, and to distribute gold in connection with redemptions of baskets. The gold held by the trust will only be sold on an as-needed basis to pay trust expenses, in the event the Trust terminates and liquidates its assets, or as otherwise required by law or regulation. The Trust is not managed like an active investment vehicle, and it's not registered as an investment company under the Investment Company Act of 1940.

[Rockon2]

Cheers wayneL. Thanks for the explanation.. It Does ring a bell now in back end of my brain box :rolleyes:

I admit im not a real gold follower, IMO its overated as hedge for "bad times",, to me its just another metal like any other and its price should decided upon with normal supply and demand . Not as a speculation material that some people seem to think that will save their backside in the case of a disaster...

Scene: No house, No food, No medicine, No job or means of money supply. the western world as we know it laying in smoking ruins....
Oh ye !! but i got some gold that'll save me!! .. Ye Right! Get Real.....

Hmmnnn , getting carried away now . cheers.. :goodnight LOL

[wayneL]

Cheers wayneL. Thanks for the explanation.. It Does ring a bell now in back end of my brain box :rolleyes:

I admit im not a real gold follower, IMO its overated as hedge for "bad times",, to me its just another metal like any other and its price should decided upon with normal supply and demand . Not as a speculation material that some people seem to think that will save their backside in the case of a disaster...

Scene: No house, No food, No medicine, No job or means of money supply. the western world as we know it laying in smoking ruins....
Oh ye !! but i got some gold that'll save me!! .. Ye Right! Get Real.....

Hmmnnn , getting carried away now . cheers.. :goodnight LOL

Hmm yes, a veggie garden, a few chooks, and a bloody great gun would be a better hedge in those circumstances.

[Rockon2]

Ye.. :)
Mind you , its obvious that gold is used by the masses as a way of hedging some sort of disaster, and as a trader i cant or shouldnt ignore that fact, so i will be loading up more exposure to more gold stocks if the need arises...

I see by your profile your in Geraldton, i thought you where in the Perth Hills, which is where i am..
p/m me and we can swap yarns on the phone if you like. Cheers :)

[tttanon]

KJC Coins and Perth Mint will sell you a bar.

[sam76]

Didn't Willie Wonka have a golden ticket??

[Rockon2]

I'll have 4 "Cougars" Thanks.

:p: :p: :p:

[sam76]

different kind of "bar"! :D

[Rockon2]

Willie Wonker !!!?? .. Hhmmmnnn, lemme see, was he one of the Great traders of all time????????????


hehe :p: :p:

[Rockon2]

jees its midnight in Melbourne! u shoud be asleep! .. oh , or u doing a bit of trading ? Dow to Open in 20 mins,, and pre up 20 by the looks.

[sam76]

nah, just got home from a night on the grog. :freak3:

DOW up in pre-trade - good to hear.

[sam76]

now need gold to follow...

[Rockon2]

Hehe , ye good onya sam, just finishing the last few drops of some beut red , cask too ! but very nice... Ive never traded whilst drunk Hmmnnn? there's one for the boffins to digest.....

Im outa here, theres something rude on sbs ina tick ive been told, so ill check it out, cheers and good night sam and ttanon.. :p:

[sam76]

T and A on tv?

i'm there!
:bigthumb:

[Milk Man]

I was told by a jeweller to try e-bay for cheap gold. In some countries physical gold has no real value; not as in the market price anyway. Whereas in other countries you can basically use it like currency. That was his explaination anyway; he may well be right. I reckon to go for coins not bars as they have recognisable patterns which make them easily echangable for cash in any country. Plus they're generally smaller so you dont have to cash in large amts. at a time and can store them easier.

Nuthin like a big gold paperweight though!