How To Buy Gold Online
Like many other products buying gold online can be as easy as point-and-click. The best dealers have a well-organized website with easy navigation to find and compare products by category . When you find a product you want, you click on it to review the details. As with any online shop, you can add it to your cart. You can then enter the quantity you want. From there, you can continue to shop or move on to checkout.
Once you start the checkout process with most dealers, your price is locked in for a short period, typically 10 to 15 minutes. You need to complete your purchase before the pricing expires, or you may see the price adjusted up or down based on how the market is moving.
Once you complete checkout, you will receive an email confirmation along with ongoing shipping notifications.
Krugerrand History & Mintage
2017 represented a milestone for the famous Gold Krugerrand. It marks 50 years since its launch in 1967, reflecting its success in the gold investment market. No other coin has really come close to matching its accomplishment. The idea behind its original launch was to capitalise on South Africas abundant gold mining industry by providing the perfect gold investment vehicle. While the British Sovereign had established itself for well over a century, its obscure gold weight meant the average person found it difficult to track its value. The Krugerrand was the first mass-produced bullion coin to contain exactly 1oz of pure gold, and the market loved it. So much so, that it accounted for 90% of the global coin market by 1980. Always ready to capitalise on opportunities, the South African Mint launched smaller denominations of the coin that year while its demand was at a peak. Variations include half, quarter and tenth-ounce versions. This was despite many Western countries banning the import of old Krugerrands during the 1970s and 80s due to South Africas problems with apartheid.
The unparalleled success of the Krugerrand has spawned many copycat coin launches. It proved to be the inspiration of other eminent gold bullion coins such as the Canadian Maple Leaf, the Australian Nugget, Chinese Gold Panda, American Eagle, and finally, after 20 years of Krugerrand circulation, our very own Gold Britannia coin.
Cast Bars Vs Minted Bars
What is a Gold Cast Bar?
A cast bar simply means the gold has been melted and then poured into a cast or mould. This cast will have the refiners hallmark stamped into it along with the weight and purity.
A cast bar may also be referred to as a moulded bar, poured bar or a gold ingot. The word ingot and bar are often used interchangeably. See: 1oz Gold Cast Bar
What is a Gold Minted Bar?
Whereas a minted bar is produced in a similar way to a coin. There are multiple steps involved. There is still a casting process to produce a bar of a certain size. But then the bar is fabricated via a striking process. A machine strikes the bar effectively stamping it with a design much like a coin is. See: 1oz Gold Minted Bar
Pros and Cons of Cast and Minted Bars
Cast bars are cheaper to produce, therefore are cheaper to buy. They can also have some variation between bars due to the casting process. However this comes down to personal preference. Some people prefer the individuality of a cast bar, while others prefer the exactness of a minted bar.
Minted bars have more detail in their design. The minting process is of course what gives the minted bar a higher price compared to a cast bar. While you may pay more for a minted bar there is also no guarantee you will get more for it when you sell it, compared to a cast bar. Minted bars usually come in packaging, so if youd like to handle your gold bar, a cast bar may be a better option.
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Why Is There A Spread On Precious Metals
My friends in Singapore explain it this way
Precious metals and bullion products in physical form often have a higher price than the spot-price. The spot-price is the price for which someone can buy certificates or futures on the commodity exchange. It is, however, mathematically impossible based on the paper market volume traded, for these so called paper metal products to be fully backed by physical precious metals.
Gold and silver in bullion form is often minted into 1 oz coins or small bars ranging from 1 oz to 10 oz. It is an advanced process to melt, mint and certify bullion products with high quality and precision. Everything from design work to manually engraving stamps has to be calculated in the cost. It is therefore normal that a 1 oz coin costs more than 1 oz of the actual metal.
Since the spot price for gold is multiple times higher than that of silver, it is also normal that the premium for a 1 oz silver coin amounts to a larger proportion of the price percentage-wise compared to a 1 oz gold coin. The natural premium doesnt change much over time and matches the cost of the minting process.
How To Buy Bullion In Australiayour Browser Indicates If You’ve Visited This Link
Goldbullion can be bought in Australia. Stocks and ETFs that invest in gold are a good choice. Futures markets are a good way to trade gold. Buying physical precious metals is best done through an online dealer that offers a buy-and-store program with vaults approved by the London Bullion Market Association .
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Investing In Credit Suisse Gold Bars
Banks around the globe deal in precious metals as one of the many investment and banking opportunities available to customers. Credit Suisse gold bars are available in a variety of sizes and weights, which in turn dictate the value of the bars at the time of purchase. Gold bars are available from Credit Suisse in amounts ranging from 1 gram to as high as 10 ounces.
Pricing And Volume Discounts*
Save on your order when you purchase in larger quantities.
Quantities ofTD Customer PricingNon-TD Customer Pricing
1-9 C$2,441.60 / productC$2,514.85 / product
10-24 C$2,438.45 / productC$2,511.60 / product
25+ C$2,435.29 / productC$2,508.35 / product
* Pricing shown is based on TD Customer Pricing with payment from a TD bank account. Final pricing will be confirmed at checkout.
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Best Comprehensive Offering: Apmex
With more than 10,000 products to offer, APMEX makes our list as the online gold dealer with the best comprehensive offering.
Shipping can be slow
Prices tend to be higher than top peers
American Precious Metals Exchange has built itself into a global precious metals powerhouse since its founding in 2000. It’s not surprising that it has the largest selection of precious metals products, making it our choice as the online gold dealer with the best comprehensive offering.
In addition to a wide range of gold and silver bullion and coin products, APMEX also has an extensive selection of platinum, palladium, and copper products. Its coin selection is a virtual United Nations, representing coins from the U.S., Canada, Australia, South Africa, Mexico, and beyond. APMEX is also one of the best sources for collectors, offering a wide variety of coins and old banknotes.
While APMEX doesn’t have the lowest prices around, its significant sales volume allows it to be competitive. Using the Gold Eagle coin as a barometer for pricing competitiveness, APMEX is offering the 1 oz. coin for $1,889 as of Dec. 1, 2021. That’s just 6% above the spot price of gold at $1,782, which is reasonably competitive. APMEX also offers bulk discounts on bullion and coins on purchases up to 19, 20 to 99, and 100 or more.
If you want your gold stored, APMEX will ship it to Citadel Global Depository Services, one of the world’s largest private storage facilities, for an annual fee.
How To Store Gold Bars
Part of buying gold bars is where youll store them. While keeping some at or near home can be useful, you dont want all your physical wealth vulnerable to one act of misfortune.
The ideal solution is to keep what you think you might need in an emergency close byand then get the rest of your holdings out of the house, and yet still have it easily accessible at any time.
That option is available. Private, non-bank, fully allocated, fully-insured class-3 vaults offer the highest level of security and are the best way to keep bullion safe during times of financial and social crises.
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How To Buy Gold And Silver With Low To No Spread
Ive been sharing several of the best ways to buy gold and silver with minimal markup in my premium Offshore Boot Camp.
Interestingly enough, one inadvisable way to minimize your buy/sell costs is to buy your precious metals from online dealers in the United States. As with many things, competition in the US is ferocious , and margins on the basic bullion coins are some of the lowest on earth.
The problem comes when you want to get that gold, or especially silver, out of the United States. If you can get it out at all in the future, it will be expensive or dangerous or both.
For offshore gold solutions, I have long recommended BullionStar in Singapore for those getting started with less than six figures. Even if you have a six or even seven-figure war chest with which to buy gold, they are a great company.
To begin with, BullionStar stores all of your gold or silver for the most competitive rates around.
- BSP Gram Gold: 0.09% per annum
- Gold Bullion: 0.39% per annum
- BSP Gram Silver & Platinum: 0.19% per annum
- Silver & Platinum Bullion: 0.59% per annum
And these are not some introductory special rates or rewards for high-rollers. Anyone who buys so much as one ounce of silver can have it stored in one of the worlds safest vaults for these minimal charges.
On top of that, storage with BullionStar is both allocated and segregated. For many foreigners, it is a non-reportable way to legally own gold and not tell the tax-man.
What Size Gold Bar Should I Buy
The next question to answer is what size gold bar to buy? Gold bars come in a plethora of sizes, from 1 gram to 400 ounces.
The general rule of thumb is, the bigger the bar the lower the premium over spot price per ounce. i.e. a bigger bar is a cheaper bar.
Why is that?
Well, its comparable to how a coin requires more work to produce than a bar. In much the same way, a larger bar requires about the same amount of work to pour or cast as a smaller bar.
So the net cost of fabricating the bars is quite similar. But a larger bar obviously has much more gold in it.
Therefore the overall cost per ounce of a much larger bar is lower than say a 1 ounce gold bar.
However like many things in life cheaper is not always the best option. More on that below
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Assay Cards & Security Implementations
All of the 1 oz. OPM gold bars produced at the companys refinery are sold with an assay card inside the plastic casing of the bar. The assay card, about the size of a credit card, is included in the sealed case to assure the purchaser of the quality and serial number of the bar. The 1 kilogram gold bars produced by OPM do not always come with an assay, but rather, include weight, purity, and serial number stamps on the bar itself.
When it comes to protecting against gold bullion fraud, OPM is one of the worlds best refineries at ensuring consumers are getting the real thing when purchasing OPM gold bars. Rising prices for gold and silver in recent years has led to an increase in the number of forgeries appearing on the gold bullion and precious metals market.
The 1 oz. OPM gold bars are all packaged in a CertiCard case. The CertiCard case is recognized as the industrys most secure housing for gold bars, and provides for the long term storage and safekeeping of any gold bar purchase. In addition to the individual serial numbers and QR codes associated with each 1 oz. OPM gold bar, the CertiCard case comes with two unique security features.
Kg Gold Bar Advantage: 1kg Bars Can Be Borrowed Against
While we view gold as financial insurance with no counter-party risk, there are times when some people would like to be able to borrow against their gold.
Say you wanted to purchase a property, but didnt want to sell the gold you had in order to do this. You may therefore choose to borrow against your gold.
This borrowing is only available against 1kg gold bars. The minimum is 3 kilos of gold. Go here for more information about storage at SGPMX and to request more information about borrowing against gold.
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Common 1 Oz Gold Bars Mints
Since 1 oz gold bars are some of the top choices for gold investors, theres no wonder various mints around the world manufacture them. One ounce gold bars come with a broad array of design options and styles to accommodate the needs of any gold investor. Lets take a look at the most common mints that manufacture gold bars in this very sought-after weight:
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Oz Gold Maple Leaf Coin Royal Canadian Mint
The Canadian government issues this gold bullion coin every year. The Gold Maple Leaf coin is made by the Royal Canadian Mint using gold entirely mined in Canada. The Royal Canadian Mint is known for its quality and purity, and this pure bullion is no exception.
Since its release in 1979, it has become one of the most popular gold coins for investors and jewelers. The Gold Maple Leaf coin is considered legal tender and has a value of 50 Canadian dollars.
Can I Buy Gold Bars At A Bank
For most investors in North America, the answer is no.
If you live in the US, it is a common misconception that you can buy gold at a bank. Many people expect a bank to issue gold, harkening back to days when gold backed the currency, but today most physical gold is purchased from non-bank distributors. Even the US Mint requires retail customers go through an authorized purchaser .
But if youre in Europe or Asia, check with your bank. Some banks may offer gold products to retail customers. I know several people that have done this very thing in Switzerland, for example.
To find out if a bank offers gold bars for sale, just give them a call . One caution: make sure you compare premiums, so that youre not overpaying. Also, inquire if they offer lower rates to their existing bank customers.
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What Are Gold Bars
Gold bars are, essentially, a form of gold bullion that is refined into the shape of a bar. Smaller gold bars are usually minted bars, whereas larger bars, sometimes called gold ingots, can be produced by simply pouring molten gold into molds to create a cast gold bar. A minted gold bar is usually decorated with a design, while casts are, normally, just engraved with the brand’s logo.
Producers must, however, meet certain production standards of purity, manufacture, labeling, and certification in order to commercialize their products.
Many private and government-run mints are responsible for refining these products around the world. They are typically produced in a variety of sizes and weights, from 1 gram to 1 troy ounce gold bars or even 1 kilo. Nevertheless, 1 oz gold bars are the most popular for their stackability, ease to transport, and deal with.
What Other Types Of Gold Bullion Products Should I Consider Buying
We make a market in a range of the most popular bullion bar and coin products. You can buy Gold Krugerrands, buy Gold Eagles, buy Gold Maples, buy Gold Philharmonics or indeed buy Gold Britannias. If you wish to own a smaller coin and the divisibility benefits of smaller gold coins you can buy Gold Sovereigns.
High net worth investors frequently opt to buy Gold bars and Gold bars . Larger gold bars are normally stored in our Secure Storage vaults internationally.
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Purity: Gold Coins Or Gold Bars
Many government mints still issue 22k gold coins today. They often get traded mainly on their overall gold content. For example, a 22k, 1 oz American Gold Eagle Coin which has a 1.09 oz weight overall due to additional copper and silver added. They are traded based on their overall one troy ounce of gold content.
These 22k gold coin issuance typically have additional silver and copper mixed into their makeup to make the gold coins harder and resistant to dents or warping.
Two of the most popular gold coins in the world are, in fact, 22k gold.
The most popular gold coin of the 1970s 1980 gold bull market was the 22k South African Krugerrand Coins.