Does anyone have any experience buying gold/silver coins on the Internet? Can you recommend a reputable/fair dealer?
I need some info first.
How much are you looking to spend? $100, $1000, $10000?
What state are you in?
(sales tax issue)
In CA.
Probably $1500 - $2000.
(Two one ounce gold coins)
[QUOTE=shelbo]
In CA.
Probably $1500 - $2000.
(Two one ounce gold coins)
[/QUOTE]
You would probably be better off going to a local bullion dealer who will charge you a small percentage above spot gold price, without any real regard for collector value.
My reading of the California sales tax on gold bullion is that, if over $1000, you’re exempt. I echo Chefguy. Call each of the dealers listed in your phone book, ask how much a Canadian Maple Leaf 1 ounce gold coin cost, and go to the guy who has them in stock and will sell to you. Ask how you can pay–usually cash. Get a receipt.
While I said “Maple Leaf,” feel free to ask the guy what his buy/sell spreads are on K-rands, MLs, American Gold Eagles. These are the big three.
[QUOTE=samclem]
My reading of the California sales tax on gold bullion is that, if over $1000, you’re exempt. I echo Chefguy. Call each of the dealers listed in your phone book, ask how much a Canadian Maple Leaf 1 ounce gold coin cost, and go to the guy who has them in stock and will sell to you. Ask how you can pay–usually cash. Get a receipt.
While I said “Maple Leaf,” feel free to ask the guy what his buy/sell spreads are on K-rands, MLs, American Gold Eagles. These are the big three.
[/QUOTE]
Are there no internet sellers that are reputable with a fair price? It’s not really for an investment - I wanted to get one Gold Eagle for each of my two kids from the years of their birth. I can go find a dealer without too much trouble, I guess, but the convenience of having some one send it to me is worth something.
[QUOTE=shelbo]
Are there no internet sellers that are reputable with a fair price? It’s not really for an investment - I wanted to get one Gold Eagle for each of my two kids from the years of their birth. I can go find a dealer without too much trouble, I guess, but the convenience of having some one send it to me is worth something.
[/QUOTE]
OK. You should be able to find someone to send you two American Gold Eagles for whatever the spot price is($738 today) plus about $35 per coin. Total cost, $1546, plus their shipping and handling. Assuming you don’t live within 20 miles driving distance to a local dealer, go for the internet.
I strongly urge you, unless you live in a remote area, to buy from a local dealer. When you go to sell, you’ll have a relationship already.
I buy here