# If I want to buy gold, how do I do it? **URL:** \ **Category:** Factual Questions\ **Created:** [August 9, 2011, 4:17pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093 "2011-08-09T16:17:38Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Northern\_Piper](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/northern_piper/32/5304_2.png) [@Northern\_Piper](https://boards.straightdope.com/u/Northern_Piper)\ **Post date:** [August 9, 2011, 4:17pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/1 "2011-08-09T16:17:38Z")
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?) ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [August 9, 2011, 4:26pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/2 "2011-08-09T16:26:28Z")
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. ---
**Author:** ![KneadToKnow](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kneadtoknow/32/3999_2.png) [@KneadToKnow](https://boards.straightdope.com/u/KneadToKnow)\ **Post date:** [August 9, 2011, 4:31pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/3 "2011-08-09T16:31:10Z")
Four ways to buy gold from [thestreet.com](http://www.thestreet.com/story/10774008/four-ways-to-invest-in-gold.html). ---
**Author:** ![anson2995](https://avatars.discourse-cdn.com/v4/letter/a/c77e96/32.png) [@anson2995](https://boards.straightdope.com/u/anson2995)\ **Post date:** [August 9, 2011, 4:34pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/4 "2011-08-09T16:34:30Z")
> [@Northern\_Piper](#): > > 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?) 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](http://en.wikipedia.org/wiki/Gold_exchange-traded_product), 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. ---
**Author:** ![olefin32](https://avatars.discourse-cdn.com/v4/letter/o/cab0a1/32.png) [@olefin32](https://boards.straightdope.com/u/olefin32)\ **Post date:** [August 9, 2011, 4:53pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/5 "2011-08-09T16:53:02Z")
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. ---
**Author:** ![Spoons](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/spoons/32/3141_2.png) [@Spoons](https://boards.straightdope.com/u/Spoons)\ **Post date:** [August 9, 2011, 10:33pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/6 "2011-08-09T22:33:15Z")
It looks like you might begin by speaking with your bank. Here’s [this](http://www.scotiamocatta.com/products/faq.htm#unique_products) from ScotiaMocatta, a division of Scotiabank: > [@](#): > > Scotiabank has issued 1/2oz and 1/4oz Round Bars and 1oz Round Bars and Wafers. > > ScotiaMocatta has also issued 5 gram and 8 gram Round Bars. These products are our most competitively priced Gold products, as well as our most aesthetically appealing packaged product. And while a quick look did not tell me that [TD Canada Trust](http://www.tdcanadatrust.com/planning/investing/mkeqae.jsp) offers bullion (though they might), they certainly allow you to invest in gold: > [@](#): > > TD Waterhouse offers several investment alternatives for clients who want to take a position in precious metals, but don’t want to worry about the storage costs and insurance against theft that are usually required when purchasing gold or silver bullion: > > – Underlying equity/stock… > – Precious Metal Mutual Funds… > – Precious Metal Certificates… 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](http://www.mint.ca/store/mint/about-the-mint/purchasing-bullion-4500004) about purchasing precious-metal coins and bullion. ---
**Author:** ![An\_Arky](https://avatars.discourse-cdn.com/v4/letter/a/87869e/32.png) [@An\_Arky](https://boards.straightdope.com/u/An_Arky)\ **Post date:** [August 9, 2011, 11:16pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/7 "2011-08-09T23:16:20Z")
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. ---
**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\ **Post date:** [August 9, 2011, 11:21pm UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/8 "2011-08-09T23:21:22Z")
I go to a local Canadian coin dealer. The bigger the better. Banks tend to charge more, in my opinion. ---
**Author:** ![Desert\_Nomad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/desert_nomad/32/177_2.png) [@Desert\_Nomad](https://boards.straightdope.com/u/Desert_Nomad)\ **Post date:** [August 10, 2011, 12:14am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/9 "2011-08-10T00:14:45Z")
> [@An\_Arky](#): > > 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. 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. ---
**Author:** ![An\_Arky](https://avatars.discourse-cdn.com/v4/letter/a/87869e/32.png) [@An\_Arky](https://boards.straightdope.com/u/An_Arky)\ **Post date:** [August 10, 2011, 12:57am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/10 "2011-08-10T00:57:42Z")
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 ---
**Author:** ![Snarky\_Kong](https://avatars.discourse-cdn.com/v4/letter/s/a183cd/32.png) [@Snarky\_Kong](https://boards.straightdope.com/u/Snarky_Kong)\ **Post date:** [August 10, 2011, 1:01am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/11 "2011-08-10T01:01:26Z")
> [@Desert\_Nomad](#): > > 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. Gold should go up with inflation. There’s no inflation. ---
**Author:** ![Cat\_Whisperer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cat_whisperer/32/4839_2.png) [@Cat\_Whisperer](https://boards.straightdope.com/u/Cat_Whisperer)\ **Post date:** [August 10, 2011, 1:11am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/12 "2011-08-10T01:11:16Z")
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. 🙂 ---
**Author:** ![Patty\_O\_Furniture](https://avatars.discourse-cdn.com/v4/letter/p/96bed5/32.png) [@Patty\_O\_Furniture](https://boards.straightdope.com/u/Patty_O_Furniture)\ **Post date:** [August 10, 2011, 2:45am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/13 "2011-08-10T02:45:35Z")
You should buy some now, so he’ll have something to remind _you_ about a few years from now. 🙂 ---
**Author:** ![Mangosteen](https://avatars.discourse-cdn.com/v4/letter/m/6a8cbe/32.png) [@Mangosteen](https://boards.straightdope.com/u/Mangosteen)\ **Post date:** [August 10, 2011, 3:48am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/14 "2011-08-10T03:48:48Z")
> [@Snarky\_Kong](#): > > Gold should go up with inflation. There’s no inflation. 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? ---
**Author:** ![Jackknifed\_Juggernaut](https://avatars.discourse-cdn.com/v4/letter/j/9de053/32.png) [@Jackknifed\_Juggernaut](https://boards.straightdope.com/u/Jackknifed_Juggernaut)\ **Post date:** [August 10, 2011, 4:17am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/15 "2011-08-10T04:17:08Z")
> [@Patty\_O\_Furniture](#): > > You should buy some now, so he’ll have something to remind _you_ about a few years from now. 🙂 Good advice. You could be 2 up on him, and can’t lose - besides your money of course. 😛 ---
**Author:** ![Mangosteen](https://avatars.discourse-cdn.com/v4/letter/m/6a8cbe/32.png) [@Mangosteen](https://boards.straightdope.com/u/Mangosteen)\ **Post date:** [August 10, 2011, 4:17am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/16 "2011-08-10T04:17:27Z")
> [@An\_Arky](#): > > 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. 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” . > **[CMI Gold & Silver | Buy & Sell Gold & Silver Bullion | Trusted...](https://cmi-gold-silver.com/)** > > Invest in gold, silver & other precious metals with CMI Gold & Silver. Get daily spot prices & expert insights. Preserving wealth with precious metals since 1973! ---
**Author:** ![Cat\_Whisperer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cat_whisperer/32/4839_2.png) [@Cat\_Whisperer](https://boards.straightdope.com/u/Cat_Whisperer)\ **Post date:** [August 10, 2011, 4:21am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/17 "2011-08-10T04:21:07Z")
> [@Mangosteen](#): > > \ > You might want to look into Silver, too. MUCH cheaper and just as “valuable” . > > [CMI Gold & Silver | Buy & Sell Gold & Silver Bullion | Trusted Since 1973](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. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [August 10, 2011, 4:30am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/18 "2011-08-10T04:30:21Z")
> [@samclem](#): > > I go to a local Canadian coin dealer. The bigger the better. Banks tend to charge more, in my opinion. Less of a premium than on Gold Eagles, also. For some reason, ounce Krugerands are usually less than other ounce bullion coins. ---
**Author:** ![Lord\_Feldon](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lord_feldon/32/341_2.png) [@Lord\_Feldon](https://boards.straightdope.com/u/Lord_Feldon)\ **Post date:** [August 10, 2011, 5:15am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/19 "2011-08-10T05:15:54Z")
> [@Mangosteen](#): > > Obama wants to know exactly who is buying gold and where they live. Do you have a cite for that claim? ---
**Author:** ![busterpickle](https://avatars.discourse-cdn.com/v4/letter/b/258eb7/32.png) [@busterpickle](https://boards.straightdope.com/u/busterpickle)\ **Post date:** [August 10, 2011, 8:17am UTC](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093/20 "2011-08-10T08:17:17Z")
[This place seems to be the cheapest](http://www.golddealer.com/bullionpage.html) 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. [Next page](https://boards.straightdope.com/t/if-i-want-to-buy-gold-how-do-i-do-it/592093.md?page=2)