If I want to buy gold, how do I do it?

Note: not interested in a debate about gold and the current state of the markets.

Just curious - with the price of gold approaching $2000 an ounce, is there a way for someone with less than $2000 in ready cash to buy gold? Is it available in less than 1 oz lots? Can you buy fractional gold certificates (e.g. - suppose I have $100 per month available, is there a way I can buy $100 worth each month, to get dollar cost averaging?)

According to Wikipedia, the Canadian Maple Leaf coin is available in 1⁄20 oz., 1⁄10 oz., 1⁄4 oz., 1⁄2 oz., and 1 oz. denominations.

Four ways to buy gold from thestreet.com.

There are generally four ways to invest in gold:

[ul]
[li]1 buy gold bars or coins, from a bank or a dealer[/li][li]2 buy gold certificates/futures/options, where you don;t take physical possession of the gold[/li][li]3 invest in a gold fund, which is like buying a stock based on the price of gold[/li][li]4 invest in a gold mining company[/li][/ul]

eta: KneadtoKnow’s link says basically the same thing, only using 10x more words and 100x more ads.

The American Eagle gold coins is produced in 1, 1/2, 1/25 and 1/10 ounce. Each of the fractional gold American Eagle coins are sold in units of 20 coins each.

It looks like you might begin by speaking with your bank. Here’s this from ScotiaMocatta, a division of Scotiabank:

And while a quick look did not tell me that TD Canada Trust offers bullion (though they might), they certainly allow you to invest in gold:

You may not bank with either of the above, but if those two allow you to buy and sell gold, I would imagine that other Canadian banks (I know you’re in Canada) would allow the same thing.

Of course, there is the Canadian Maple Leaf gold coin, produced by the Royal Canadian Mint; as well as bullion produced by the Mint. You can find out where by using the Mint’s page about purchasing precious-metal coins and bullion.

I know you’re not interested in a debate, but the undebateable fact is that the gold train done left the station…buying now would be like buying a house at the height of the real estate bubble.

I go to a local Canadian coin dealer. The bigger the better. Banks tend to charge more, in my opinion.

People said that at $1400/oz but it has done well since then too. AS long as the US prints more money, gold will keep going up.

Yeah, that’s possible, I know. I just think that it’s also possible that a year or two from now, it could be back down to <$1000/oz and there will be a lot of hurtin’ puppies. It really could go either way…

sorry for the hijack

Gold should go up with inflation. There’s no inflation.

I just wanted to say that I talked with my husband about buying some gold when it was about $600 per ounce - we decided not to buy then. I remind him about this occasionally. :slight_smile:

You should buy some now, so he’ll have something to remind you about a few years from now. :slight_smile:

No inflation? Even the government admits there is 2% inflation, which basically means your dollars are losing 2% of there value a year.

The truth is inflation is higher than 2%. Do you buy gasoline? Do any shopping at the supermarket? Buy any clothes lately?

Good advice. You could be 2 up on him, and can’t lose - besides your money of course. :stuck_out_tongue:

When exactly was the train at the station? At $300., $1000., $1500.?

What if its on its way to $2000. or $5000.

Do you know something the we don’t?

Is the Fed going to stop printing dollars backed by thin air? Is the US government going to spend only what it takes in in revenues? Don’t think so.

As far as buying gold goes. Buy at least enough so that you don’t pay sales tax. In CA. that means $1500.00 worth. Shop by phone and see which local dealers have the best price. Don’t buy by mail. Too much money wasted on shipping and insurance. You pay a premium when you buy smaller than 1 oz. coins. Ten 1/10 oz. coins are going to cost you a lot more than 1 one oz. coin. Buy Krugerrand gold coins; they are the cheapest and well recognized around the world. If you pay in cash, bring ID. Obama wants to know exactly who is buying gold and where they live. Take possession of the gold and hide it somewhere, NOT in a bank deposit box.

You might want to look into Silver, too. MUCH cheaper and just as “valuable” .

http://www.cmi-gold-silver.com/small-survival-gold-silver-coins.html

That’s right - just yesterday we were talking about buying copper or nickel (or uranium), too.

Less of a premium than on Gold Eagles, also. For some reason, ounce Krugerands are usually less than other ounce bullion coins.

Do you have a cite for that claim?

This place seems to be the cheapest

And, the Suisse and Australian bullion are the cheapest by a small margin.

Also, looking at the closing price of gold, and how that price relates to the 100 and 200 day moving averages, I would say that it’s going to go down anytime now. Someone, somewhere, is buying a huge amount of it. Or, there is a great deal of speculation like there was with oil a few years ago. The gap between those two moving averages is widening which is a pretty good sign that people will start selling, soon.

It won’t tumble down like oil did, but, if you think you are going to buy it and double your money in the near future, I doubt it. I think it will drop to within 2% of the MA. Which could be like 200-400 dollars depending where its at.