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What paper work is involved when buying gold bullion?

does gold bullion have something similar to a car title which shows the owner etc.

how do you know the gold you're getting is authentic?

I'm a total novice, so a detailed explanation is appreciated.

A contract with whoever is selling you the gold. You will also more than likely receive a gold certificate verifying ownership.

2008-11-23 22:57:30 by BigDick | Posted in Investing

how can I buy 24 carat gold bullion at market prices in Australia for investment purposes?

I want to buy gold for investment (gold ingots or bullion) at market price in Australia, Melbourne, does anyone know where I should go? Thanks.

You can't...because the MARKET price is NOT what you will buy it for...the dealers have to make a profit so they add on a percentage over market, or service or handling charge.
So you will NEVER buy it for the market price.
And if you go to sell it BACK, they will only pay you a percentage of market price....at least 25% or more LESS than the market price. So they can make a better profit selling it to someone else! They might call it an 'assaying charge' (they will say they have to test it to prove the gold content, etc.)
I have owned a jewelry store for 30+ years, and had friends invest in bullion and raw stock against my advice...because they thought they could make a good profit. Never happened...gold would have to almost DOUBLE in price from what you buy it for to make a profit selling it.
I had the chance to stock up on gold when it was only $40 an ounce...stupid me...I didn't think it would change much. It is almost $1000 an ounce now...I could have made a fortune if I had even spent only $1000 back then and stuck it in a safe!

2008-03-08 08:07:58 by Otakun | Posted in Investing

Where Can you sell Gold Bullion Coins If the Chips are down?

Alot of questions here, i know a Bullion outlet can buy or sell when they please, but if you had .9999 fine coins like the american buffalo (as ugly of a coin as it is it is wrapped in plastic and can't scratch in its packge) Could you sell it to the jewlerers ar spot. So another question would be would.9999 fine gold be better because more sources can buy it and even when a market is heading downwards, jewlery and industry still need gold.
Is this common or does industry usually go to other sources.

www.kitco.com is the best source of bullion price info, but some local coin dealers (listed in the phone book or on-line) will pay a bit more for them (and will teach you more about them).

2007-11-25 10:49:52 by chris c | Posted in Other - Business & Finance

Where can I buy gold coins or gold bullion in the Philippines?

Where can I buy gold coins or gold bullion in the Philippines?

Specifically in Makati City or Paranaque?

There are many frauds in the world, evenly distributed so here in the Philippines there are wolves in sheeps clothing. Do not trust just anybody (strangers from Y!Answers). Better call the Banko Sentral ng Pilipinas (BSP) for accredited sources.

Bangko Sentral ng Pilipinas:

A. Mabini St. cor. P. Ocampo St.,
Malate Manila, Philippines 1004
Tel. No. : (632) 524.70.11
Fax No. : (632) 523.62.10
E-mail: bspmail@bsp.gov.ph


BSP - Security Plant Complex
East Ave., Quezon City
Tel. No. : (632) 929.70.71 to 90
Fax No. : (632) 926.25.94

2008-04-07 22:32:32 by emartel01 | Posted in Philippines

Can you melt down gold jewelry to make gold bullion? If so what at what carrot? ?

I find that it is close to impossible to get gold bullion. It is all sold out by the time I get there. Is there a way to create it through a melting process. If so how pure does the gold have to be? 24K? What is gold bullion's metal composition, how pure is it?

Is it possible? Yes. Is it easy? No.

Gold bullion is always 24K gold, .999 fine is the standard for both gold and silver bullion.

So you have to refine it, which typically involves corrosive acids and nasty chemicals. Then to melt it you have to heat it to 1,947°F, which is much hotter than your stove or charcoal grill can get.

If you don't want to sell it outright to a refiner, you might just hang onto it, it will be worth more by and by.

Grandpa

2008-10-27 13:12:24 by MidiMachine | Posted in Investing

Is it smart to buy gold bullion coins as an investment?

Hi, I know nothing about coin collecting, advice is appreciated! From the little I've read, I'm wondering if its smart to buy gold bullion coins from a reputable dealer. Is it easy to make a profit over the years if I slowly buy them? How exactly do I profit, by reselling them to a dealer eventually?

as a general rule dealers buy gold bullion coins from the public at melt {the price of gold} minus 10% and sell the same bullion coin at melt {the price of gold} plus 10%....some major dealers work on a smaller margin...say 71/2%...or as low as 5% for some preferred customers
your profit or loss will come over time by the increase or decrease in the value of gold... Traditionally gold and silver are purchased when they are dropping in price ..when their price is on the rise you hold or sell...when prices are going down you buy...in the long run you are working on an average purchase price....today gold is at 675.00 when it goes below that and while it's going down you buy when it rises you hold...you keep watching... when it's rising until it reaches new highs you hold or sell ....and when it starts to drops again and while its going down you buy.... when its going up you hold or sell.when it's going down you buy

2007-04-28 17:16:45 by irunwithbulls | Posted in Hobbies & Crafts

How can I buy gold bullion?

Hi, I want to buy 1oz gold bullion and I know there are bunch of sites which sell online. How do I know which one is reliable. Is it possible to buy bullions directly from US gov??. Any advise in this matter is highly appreciated.

thanks

First read "Gold Investing - frequently asked questions" at this link: http://www.invest.gold.org/sites/en/faqs/

Then read "How to Invest in Gold" at this link: http://www.invest.gold.org/sites/en/how_to_invest/

Specific info on "Coins and Small Bars" is at this link: http://www.invest.gold.org/sites/en/how_to_invest/coins_and_small_bars/ Also, gold coins are different than gold bars/bullion. Coins have extra cost associated with the mining process whereas bars can be made directly at the refinery.

This is from the world gold council - so some might think there is a bias. However, they also have a strong interest in assuring that people have good experiences when buying/investing in gold. So, I think that the information is well balanced.

2007-08-25 10:13:01 by tnguy | Posted in Investing