I was interested in finding out the price ( retail ) for an ounce of gold. Although the price is now trading at $280, the best price that I am able to buy is at $323.53 for a one ounce eagle + sales tax. Is anyone with experience in recent coin purchases being quoted prices like this?

-- lindy (lindgren@kt.rim.or.jp), December 09, 1999

Answers

Every established dealer will come in with quotes in a very narrow range depending on the spot price of gold at the time of your inquiry. The prices you state sound right on the money, literally: the premium for the eagles is driving them out of range of the spot price, while you can stil get 1 oz Canadian Maples, Krugerands, etc. for close to spot. I checked two days ago and was quoted $280 spot, and $380 for and OZ of 1/10 oz eagles. No thanks!

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-- SH (squirrel@huntr.com), December 09, 1999.

I found cheaper prices at www.monex.com This is not an endorsement. It is just a note that better prices are out there.

-- James Bond (JamesBond@007.com), December 09, 1999.

Try these guys.

AJPM

-- John Ainsworth (ainsje00@wfu.edu), December 09, 1999.

I agree that AJPM is a reliable cheap source. I'm curious though why Chinese Panda 1 oz gold coins are selling for $8 more than the American Eagle. A week ago they were under the American Eagle. Any ideas?

-- Diane (DDEsq2002@juno.com), December 09, 1999.

How bout buying at 256 in August? No sales tax no shipping!

-- Susan Barrett (sue59@bellsouth.net), December 10, 1999.

You should be glad we arent on the gold standard. You can buy stuff SO cheap! Lie and tell me that isnt true. The fiat system allows for the vast wealth and lifestyle and houseing we all enjoy. Housemoms around the world are having a MUCH easier time getting food for thier families and medical care than the centuries before and the fear based gold standard allowed. SURE there were booms and busts. And I read the guys at the eagle site AND the prudentbear.com and contraryinvestor.com guys. May the price of gold stay down and a pox on those that want us to go back to gold. Wouldnt russia like that. Why should tyrants and those with gold rule? what in the hell system is that? PRIMITIVE. short sighted.

-- Goldilocks (goldilocks@here.com), December 10, 1999.

I am putting my buy order to this forum for Jan. 3rd.

$250 an ounce.

-- for real (for@real.com), December 10, 1999.

Ok Goldilocks,

I love the fiat money system. Its great. I love the fact that my 18 year old brother is able to have 12 credit cards and have the ability to charge up to $100,000 all on a part time job paying $8.25 an hour. I love the fact that I am able to borrow 125% of the price of my new house. Borrow to buy two cars, spend 120% of my annual salary yearly. Take two vacations a year on my credit cards, and watch as my stocks increase in value 15-20% which allows me to spend 120% of my annual income yearly. I love it. I hope it never stops. I want 30% returns on my stock investments so I can spend 150% of my annual income and take 3 vacations and buy 4 cars. Send my kids to college on borrowed money. Borrow for my retirement, go into debt as far as I can get on fiat money. As you know its only paper promises to pay a debt. All good things must come to an end. But not this time. No!! things have changed. I can always continue to borrow and I never have to pay. Just as long as my stocks are okay. Up up up and away.

-- lindy (lindgren@kt.rim.or.jp), December 10, 1999.

Goldilocks,take your Ferretal (more to do with weasels than Gov.) Reserve NOTES - not United States Dollars - but Ferretal Reserve Notes - and stick'em.

-- Now Useeit (Now Udont@theFed.crook), December 10, 1999.