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Title: Selling: 1 oz Gold Bullion Bar - Pamp Suisse Post by: Trader Steve on July 01, 2011, 01:43:43 PM Current price (subject to change) is 100.64 BTC with FREE shipping to USA. Pix below and you can place your order at http://www.GoldStarBullion.com. References available upon request.~Trader Steve
http://i814.photobucket.com/albums/zz63/watchfanatic007/photo-28.jpg http://i814.photobucket.com/albums/zz63/watchfanatic007/photo-26.jpg Title: Re: Selling: 1 oz Gold Bullion Bar - Pamp Suisse Post by: TheVirus on July 01, 2011, 09:07:48 PM Seems a bit steep considering gold is ~$1400/oz and 100 BTC is ~$1600.
Title: Re: Selling: 1 oz Gold Bullion Bar - Pamp Suisse Post by: kgo on July 01, 2011, 09:29:27 PM Spot gold is actually closer to 1500 than 1400. $1487.40 as we speak:
http://www.kitco.com/charts/livegold.html And bars and coins always sell for more than spot. Here's the same bar on apmex: http://www.apmex.com/Product/11951/1_oz_Pamp_Suisse_Gold_Bar_9999_Fine_in_Assay.aspx Buying one with a credit card + shipping/insurance would be about 1600 bucks. Title: Re: Selling: 1 oz Gold Bullion Bar - Pamp Suisse Post by: Trader Steve on July 01, 2011, 09:36:07 PM Seems a bit steep considering gold is ~$1400/oz and 100 BTC is ~$1600. Spot gold is actually $1,487 +/- at the moment of this posting. Physical bullion typically costs more than the spot market because you are buying in much smaller quantities (futures contracts are for 100 oz). The only way you get spot price is if you buy in quantity on the COMEX - and that price does not include shipping, insurance, and storage. Search any major bullion dealer on the web and you'll see the Pamp Suisse bars going for about $1,540 and then you have to factor in shipping, insurance and the convenience of using bitcoin. Hope this helps! Title: Re: Selling: 1 oz Gold Bullion Bar - Pamp Suisse Post by: evolve on July 01, 2011, 09:40:27 PM have you considered selling smaller bars (like grams)?
Title: Re: Selling: 1 oz Gold Bullion Bar - Pamp Suisse Post by: Trader Steve on July 02, 2011, 12:08:39 AM have you considered selling smaller bars (like grams)? evolve, I have. The problem is that the the spreads between the "bid" and "ask" are so wide that it becomes a losing deal for the person that buys them. Example: a 1 gram gold bar sells for about $75 and only fetches about $49 when you go to sell it back to a dealer. This means your gold has to appreciate by 50% just to break even! When you get to 1 ounce gold bars and 1 ounce silver bars/rounds the spread is only about 5% to 10% between the "bid" and "ask" so you get a much better deal when you need to liquidate. For smaller purchases I recommend 1 oz silver rounds as the best value. We're starting to see 1/2 ounce silver rounds coming to the market but I'm monitoring the spreads closely to see if they would be an attractive alternative at some point. For now, though, silver is under $40 per ounce and it is not too large of an investment for someone who wants to start setting a little aside as they can afford it. Trader Steve |
