Buying gold

[bluekelah]

Hi looking to buy physical gold in Brisbane. Which is the best dealer to buy 10oz cast bars from? I checked out brisbanebullion which sells for QLD mint but the price is much more than perthmint price.

 

[qldfrog]

Hi looking to buy physical gold in Brisbane. Which is the best dealer to buy 10oz cast bars from? I checked out brisbanebullion which sells for QLD mint but the price is much more than perthmint price.

hi Bluekelah, have you tried Ainslie, located in CBD
https://www.ainsliebullion.com.au/
Keep us informed on who you choose and if happy.
Disclaimer: I have used Ainslie and found them OK

 

[bluekelah]

hi Bluekelah, have you tried Ainslie, located in CBD
https://www.ainsliebullion.com.au/
Keep us informed on who you choose and if happy.
Disclaimer: I have used Ainslie and found them OK

not yet first time buying. Might just go down there tomorrow morning as its a bit late now. Gold prices going up up up though. probably up 2 or 3% by tomorrow morning lol..

Having a look online now, apparently i can secure purchase with 10% deposit. Their prices quite good and will work out cheaper than buying from perthmint and postage/insurance added

 

[qldfrog]

not yet first time buying. Might just go down there tomorrow morning as its a bit late now. Gold prices going up up up though. probably up 2 or 3% by tomorrow morning lol..

Having a look online now, apparently i can secure purchase with 10% deposit. Their prices quite good and will work out cheaper than buying from perthmint and postage/insurance added

It is a bit of an adventure to purchase:
double door locks etc, entry to the Fort feeling..unique...
nice to go back in time and remember non digital currency
Yes you order and lock the quasi real time price with a deposit[ credit card ]then pay reminder with direct credit etc and once paid, go and get the good from their office in the CBD
I remember having had some issues once with my firefox browser during the web payment process...
I recommend you use another broser even if it is probably long well fixed

 

[bluekelah]

It is a bit of an adventure to purchase:
double door locks etc, entry to the Fort feeling..unique...
nice to go back in time and remember non digital currency
Yes you order and lock the quasi real time price with a deposit[ credit card ]then pay reminder with direct credit etc and once paid, go and get the good from their office in the CBD
I remember having had some issues once with my firefox browser during the web payment process...
I recommend you use another broser even if it is probably long well fixed

yeah i changed to opera a no problems, verified now and just shopping around. But the quasi price keeps dropping. not sure what is happening to spot price but seems its going down in the evening, maybe AUD firming up after Scomo announced prep measures for pandemic and restore some confidence versus other nations who are just brushing it aside as another flu.

thanks for the advice. the ainsle bullion facebook help person called steve was pretty nice too with fast reply time despite office already closed. So they do have some after hours service so long the guys are still awake.

Price wise Ainsle is more expensive than perth mint, but only by slightly less than $100 bucks for a 10oz cast bar which makes it cheaper than buying from perthmint and delivery+insurance of 1%.

Thinking of doing 5 2oz bars so in case price goes up and i wanna sell I can sell part of it, but probably will go with one 10oz bar as its easier to keep and when the time comes and stocks have bottomed and gold peaked can always sell and switch back into shares.

 

[Bill M]

I agree with qldfrog about Ainslie. Very good bullion dealer and can post Australia wide.

I'd also like to mention that a 10 oz gold bar will set you back about $26,000. To resell at spot it will be hard to do with a bullion dealer, even the one you buy from. They generally will pay 10% below spot. My opinion is to go for 1 oz 9999 gold coins as they are much easier to sell, ie. it's easier for a buyer to cough up $2,600 rather than $26,000. Plus you can sell it for spot or better on places like ebay or other private forums.

Good luck with whatever you choose to do, cheers.

 

[qldfrog]

I agree with qldfrog about Ainslie. Very good bullion dealer and can post Australia wide.

I'd also like to mention that a 10 oz gold bar will set you back about $26,000. To resell at spot it will be hard to do with a bullion dealer, even the one you buy from. They generally will pay 10% below spot. My opinion is to go for 1 oz 9999 gold coins as they are much easier to sell, ie. it's easier for a buyer to cough up $2,600 rather than $26,000. Plus you can sell it for spot or better on places like ebay or other private forums.

Good luck with whatever you choose to do, cheers.

I would agree with the 1oz, wrapped perthmint being a favorite
Do not worry, while heavy 5 or 10 of these is quite small and much easier to resell

 

[Zaxon]

To resell at spot it will be hard to do with a bullion dealer, even the one you buy from. They generally will pay 10% below spot.

That's why I'm surprised people buy physical gold instead of a gold ETF. Physical gold has (potentially) storage costs and large buy/sell margins. It won't cost you 10% to sell an ETF.

But if you believe that "society" will break down, and you'll need to retire to your cabin in the woods with your shotgun and your prepper supplies, of course you'll want your physical gold then

 

[qldfrog]

That's why I'm surprised people buy physical gold instead of a gold ETF. Physical gold has (potentially) storage costs and large buy/sell margins. It won't cost you 10% to sell an ETF.

But if you believe that "society" will break down, and you'll need to retire to your cabin in the woods with your shotgun and your prepper supplies, of course you'll want your physical gold then

It is well know that most ETFs do not have the Gold they are supposed to represent, i trust relatively PMGOLD etf as i believe it is truly matched 1 to 1 with physical gold asset

 

[Zaxon]

It is well know that most ETFs do not have the Gold they are supposed to represent

I've heard that assertion before, although I've no idea whether it's true. Some gold ETFs have the option to convert your holdings into physical metal. I'm guessing very few people actually do. If there were so inclined, they'd probably just buy bullion upfront.

 

[qldfrog]

I've heard that assertion before, although I've no idea whether it's true. Some gold ETFs have the option to convert your holdings into physical metal. I'm guessing very few people actually do. If there were so inclined, they'd probably just buy bullion upfront.

Pmgold does, but i i fe better owning the paper selling buying on the market within sec without having to courrier gold from perth mint
But etf like US GOLD have leverage above 20, they sell up to 20 bullions for each one they owe..all good as long as no real crisis

 

[kenny]

Is owning a gold ETF as effective as physical gold as a portfolio hedge? I like that PMGOLD is backed by Perth mint and thus the WA government by default.
https://www.perthmint.com/storage/perth-mint-gold-asx.html

 

[Zaxon]

Is owning a gold ETF as effective as physical gold as a portfolio hedge? I like that PMGOLD is backed by Perth mint and thus the WA government by default.
https://www.perthmint.com/storage/perth-mint-gold-asx.html

It should be. A gold ETF tracks the spot price of gold (or probably gold futures really). Physical gold is valued at the daily spot price, minus whatever spread the gold trader wants to charge you, I would expect.

 

[bluekelah]

I agree with qldfrog about Ainslie. Very good bullion dealer and can post Australia wide.

I'd also like to mention that a 10 oz gold bar will set you back about $26,000. To resell at spot it will be hard to do with a bullion dealer, even the one you buy from. They generally will pay 10% below spot. My opinion is to go for 1 oz 9999 gold coins as they are much easier to sell, ie. it's easier for a buyer to cough up $2,600 rather than $26,000. Plus you can sell it for spot or better on places like ebay or other private forums.

Good luck with whatever you choose to do, cheers.

thanks for all the advice guys but unfortunately i read this too late and like an idiot noob had already gone ahead thursday night and locked in my gold bar at Ainslie as i saw prices were going down a bit. I guess i will have to find some other way to get a closer price to spot for my 10oz cast bar. Hopefully if there is a bull run on gold and lack of stock from a supply shock or something, the prices offered will be closer to spot in the future, well maybe not, u tell me guys. lol..

Gold has adjusted down as well possibly due to liquidations to pay for margin calls but at least its not dropping as badly as other commodities and stocks. I think short term USD appreciation as safe haven also has an effect on gold price going down. But now USA has first COVID19 death and probably widespread cases will be annouced next week causing more panic risk-off sentiment as it hits closer to home for them. US index futures are up 1%+ but I suspect fear will get the better of markets and another big crash by monday night as more cases reported in USA. China's PMI number 35.7 after markets closed was shocking as well, so ASX an AUD likely get hit again next week.

I have about 10k more to spend so might look into a few gold coins as well. will PM u Bill M about getting the best deal for coins.

In any case, not too concerned as I still feel having a 10oz bar at home is better than bloody 25k sitting in the bank earning very paltry interest by next month. Its an insurance policy really against AUD crashing really which i think is gonna happen when our rates go to zero and recession hits and unemployment goes to the 8% or even 10% range. By then probably everyone will be wanting to buy gold, just like facemasks and hand sanitizers.

 

[frugal.rock]

Here's a view of 2 ATF's
and the gold indicie XGD, all
compared to the XJO, the only common indicator in this app...
Trying to upload screen grabs but getting error message?
Grr, got logged out...

 

[bluekelah]

Here's a view of 2 ATF's
and the gold indicie XGD, all
compared to the XJO, the only common indicator in this app...
Trying to upload screen grabs but getting error message?
Grr, got logged out...
View attachment 100909
View attachment 100909 View attachment 100911

thanks for the graphs, viewable when i click on it. i expect gold to outperform the stocks during panic selling, even if it drops will not drop as badly as stock indexes. But the last graph for XJD shows a big drop for gold whilst the first three graphs just shows gold holding stable?

 

[finicky]

Yeah you don't have to go through a dealer with their margins, you can consider buying gold peer to peer through the silverstackers website: https://www.silverstackers.com/forums/index.php?forums/australia-new-zealand-public.30/

 

[noirua]

I hold some gold through 'Tally'. It is a Mastercard 'loadable' debit card that can be used as such or gold can be just, I suppose, be loaded on to it by adding cash. Very new and yet to be properly rolled out beyond the UK though that doesn't mean having to be located there if you generally think more Internationally - it can be used in almost all countries except China. It's real location is in India and Finland where it has considerable interest in a gold producing mine in India and project in Finland. Not too clear as yet but gold from these mines should, in theory if all goes well, add to the gold backing of the card itself and profits of Tally Limited formerly Lionsgold.
https://www.tallymoney.com/
https://www.proactiveinvestors.co.u...ng-launch-of-gold-linked-currency-222788.html
Https://community.tallymoney.com/
https://www.fintechfutures.com/2020/01/tally-launches-2-0-version-of-uk-faster-payments-linked-app/

Posted to show there are many ways of holding gold and of course debit cards are a quick way to sell if we need to. Sometimes referred to as Key-cards. American's tend to use the term 'swiped cards' that cover all.

 

[bluekelah]

I hold some gold through 'Tally'. It is a Mastercard 'loadable' debit card that can be used as such or gold can be just, I suppose, be loaded on to it by adding cash. Very new and yet to be properly rolled out beyond the UK though that doesn't mean having to be located there if you generally think more Internationally - it can be used in almost all countries except China. It's real location is in India and Finland where it has considerable interest in a gold producing mine in India and project in Finland. Not too clear as yet but gold from these mines should, in theory if all goes well, add to the gold backing of the card itself and profits of Tally Limited formerly Lionsgold.
https://www.tallymoney.com/
https://www.proactiveinvestors.co.u...ng-launch-of-gold-linked-currency-222788.html
Https://community.tallymoney.com/
https://www.fintechfutures.com/2020/01/tally-launches-2-0-version-of-uk-faster-payments-linked-app/

Posted to show there are many ways of holding gold and of course debit cards are a quick way to sell if we need to. Sometimes referred to as Key-cards. American's tend to use the term 'swiped cards' that cover all.

Thing is for gold its always better if you have the physical product, or at least you have it stored for you in a big vault somewhere. It's insurance. With a card like tally its pretty dodgy as the gold is not allocated.

 

[noirua]

Thing is for gold its always better if you have the physical product, or at least you have it stored for you in a big vault somewhere. It's insurance. With a card like tally its pretty dodgy as the gold is not allocated.

Your asset is 100% owned by you, insured and protected.

Tally runs on established and reliable banking infrastructure, and uses London Bullion Market Association (LBMA) approved physical gold held in an accredited, secure vault in Switzerland. Your gold is 100% owned by you, insured and protected. Your asset is ring-fenced from third parties so it stays protected.