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Old 02-09-2005, 04:29 PM
Triskadecamus Triskadecamus is offline
Join Date: Oct 1999
Location: I'm coming back, now.
Posts: 7,419
A one thousand ounce bar of gold weighs about 68 lbs, and is about ten inches long, and a bit more than three by three inches in cross section, and will cost you in the general neighborhood of a third to a half of a million dollars. That gets you "Delivered" bullion. Delivered means on deposit at a banking institution that guarantees to hold it for a price, and allows you to sell it again without an assay. Bring your pickup truck to the back door of the bank, and you can lug that sucker on home, but call up in advance, and let them know about your plans, since they won't be expecting you. They will want money for that service.

Now you have a brick that you will have to have assayed, if you try to sell it on the gold market, so you have to lug it back to the bank, and they will want another fee to take it back and have it verified. Then you can pay storage agreements fees like everyone else, until you sell the thing.

Most folks just hold the paper, and let the actual block of gold sit in one place, changing owners as the whim drives human markets.

Rule of Reason: "If nobody uses it, there's a reason."