Can you buy bullion ingots at coin shows
jessewvu
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Does anyone sell bullion ingots at coin shows, say the Baltimore show coming up this march? If so, do they sell for spot or close to it?
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Prices are usually a hair over spot, unless you know a few guys.
I have certainly seen ingots at other coin shows, especially silver (10 oz. and 100 oz. bars) and occasionally gold (usually 1 oz.).
And, yes, they sell for spot plus a small premium.
Your best bet might be to contact dealers who are regulars at Baltimore (such as board member Julian) and ask for recommendations.
Check out the Southern Gold Society
<< <i>Does anyone sell bullion ingots at coin shows, say the Baltimore show coming up this march? If so, do they sell for spot or close to it? >>
If you wish to buy gold at spot, purchase a 100 ounce contract through a commodities broker (who gets a commission) and take delivery.
If you wish to buy bars smaller than 100 ounces, expect to pay private mint fabrication fees and a dealer commission. The dealer cannot tie up $900+ in capital and pay himself or his employees for their labor just to break even.
or gold.
i also ask them how much they will buy them for at the same time
to get the feel for them.
for example a 10OZ silver bar 3 blocks away from me at a coin store
will cost 16.80 x 10 at the moment assuming silver is around that price.
this same dealer would probably buy them for 16.10-16.20 x 10 OZ.
the thing is they sell them so fast.. as soon as they get them.. you
need to call once a week and get lucky.
they always have gold rounds... rarely gold bars.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>If you want gold bullion, forget ingots and buy AGE's and buffalos. >>
That's the ticket!
And don't forget milk spotted ASE and 90% for silver. Well under spot. There should be good pickings for the bullion types at the coming shows.
They won't want to get stuck in what looks like a weakening market, and have picked up inventory off the street.
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<< <i>Careful with the big bars. After the drill and fill stories, I am not sure I'd trust that one wasn't a raped and plugged one. Not sure why one would want that anyway with some numismatic equivalents selling close enough to melt and being reasonably liquid. >>
Agree. Also, if you need to raise some cash, it's easier to sell one or two AGE's than it is to carve off and sell a piece of a large ingot.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
If you're looking for palladium bullion at shows it may be difficult to find as well.
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)