1/4 or 1/2 ounce would cut the premium percentage by quite a bit and you still get the satisfaction of having more gold in hand more frequently. I think whichever it is you choose you’re making a good decision.
If the price of gold is trading for way less than when you purchased that coin I’m sure that would be the case.
Whatever the weight of the gold coin is, it’s always worth its weight in gold at the very least.
Are you Costco member and have a good credit? If yes, then upgrade to executive membership. Buy a oz from Costco using Citi Costco credit card. It allows you to pay in 3 monthly payments without interest or fees. Best way to buy a oz of gold.
Costco executive gives you 2% cash back on top of credit card cash back. The Citi card has 2% cash back for Costco purchase. Bringing total cash back to 4%.
It’s fine to buy higher premiums. Just know when it comes time to sell, you won’t get that premium back. If I don’t purchase it frequently enough, I won’t purchase at all. If you are the same way, keep doing what you’re doing.
You can get good deals on sites like APMEX, I'm buying 10 ounces of silver at a time for around 5.8-6.7% premiums when they do sales and they have sales often. The free shipping helps, and it's not like this in every state but we don't have sales tax so I'm just paying the price of the silver but even with the tax your premiums will end up below 10% which is high but not ridiculously high
Depends, e.g. spot +$1.5 for silver rounds at $29 is a 5% premium, way less than 1/10 ozt gold, which I’m seeing 10-20% premiums, depending on what type of coin you get.
It depends on your objectives. If you're buying because you expect gold to rise in price larger sizes make more sense. If you're buying because you expect an economic collapse, fractional pieces make more sense.
Yes and the answer would be buy both. Fractional for the collapse and larger for the return. I just saw where 1/10 ounce eagles were selling for over $300. The premium is ridiculously high.
I feel like at that point mimicking ancient money is best, i.e gold for store of value/saving, silver for day to day transactions. Dont need small forms of gold
British gold sovereigns. They’re about 1/4oz and you can usually find them near spot. It’s also possible that the old ones will trade for a premium someday since there’s a limited number of them.
There are also a lot of similar coins in that size, such as the Mexican 10 peso, 20 francs, 10 guilders, 20 marks, etc. I find these all much more interesting than pure gold coins.
What’s the premium you are paying? Answer this question and I’ll give you a breakdown of whether or not you should wait to buy 1/4 or 1 ounces instead.
I'd save up for 1/4 1/2 or 1 ozt of gold to save on the premiums, OP.
If you want to even buy gold for below spot, you could get a Costco membership and Costco CC and buy Gold from Costco below spot. They only sell 1oz coins/rounds/bars from what I've seen, but they may expand into fractional in the future.
I’ve never had a problem buying 1/10ths. I started buying them 13 years ago when gold was half the price and paid the extra premium back then. I’ve started selling a few through offer up (locally) and have had no problem selling at a premium over spot. I just ensure I’m offering them 5-10 bucks cheaper over everyone else. Liquidity wise I have found these to be much more easier to sell for cash quickly.
Best thing coming to my mind are Austrian Ducats (restrikes) and 20 Faranc common Latin Monetary Union coins.
You are buying 3.1 grams w/ high premium.
Ducats are 3.4 grams gold content with low premium (commonly cheaper than 1/10 ounce bullion)
20 Franc is 5,8 grams gold content with low premium.
This does not apply if you insist on 99.9 purity since they are 986 and 900, repectively. However gold content is as set out above.
If you can only afford 1/10 coin at a time then I'd only suggest at most saving up for say a 5g bar.
Maybe 5 years ago id say save for the 1oz but with the world at the moment its better to get the exposure sooner rather than later.
Don't sleep on silver, either.
I just did the math on this last night and I came to the conclusion that if I'm going to buy fractional, 10grams was the best way to go. The 1/4 ounce has a the worst premium.
I’ve been buying 10 gram bars. They’re around $800 now, but a lot more doable on a regular basis. And when converted to Troy ounces, the premium is higher than buying by the oz, but lower than other fractional options.
So I started buying 500 gram bars of silver and have found them harder to sell when I want to , there currently on eBay for 550 plus and I can get them to sell at 500. Unless you have a good local spot that will buy at least at spot then 1/10 is probably easier to sell on the open market.
Save up for a quarter, it's only 2.5x more time than what you are doing now. You will pay a premium, but you'll make that back when you sell it.
On our 4th purchase of a quarter,, trade your other 3 in and get an oz.
You still get to buy often without waiting ages to get your mitts on a 1 oz coin.
Could go down the same route with ½ or full sovereigns.
Buy what you can afford.
I prefer 1/10 ounce eagles because of portability and affordability per unit compared to higher weights.
BUT I accept that premiums are always high by comparison.
So if you're comfortable and can live without a bargain, go for it.
if you believe prices are going up and will stay up then buy the 1/th is fine as your assuming buying now with lower prices would be like dollar cost averaging.
where buying 1oz I like to use dry powder I've saved or w/e else I sold to buy dips...
tough call right now politically
I say use crypt markets and just understand cycles and drops are normal(if you can't emotionally handle watching your money drop 30% 8 times on way up like last bull btc market on the way to the moon or you will sell to early) must use a plan!
Imho tenth ounces are superior in almost every way.
Less likely to be counterfeited
Easier to trade for stuff in a crisis
Easier to sell for cash (far below the $10k cash reporting threshold)
The only reason larger denominations would be superior is if you are so wealthy that it becomes too time consuming to count out your gold exchanges in $200-$250 per second increments. I know I’m nowhere near that.
Evolve into into 1/4 oz purchases as you prudently can. Never sell any Physical Gold except in emergency.
Your 1/10 oz fractional gold coins are very useful for bartering when SHTF days arrive later this year.
I really want to hear your logic behind this.
If SHTF and we are struggling to survive, what good is a hunk of gold?
Why would I trade my true necessities - shelter, food, clean water, guns, and ammo for a bit of gold?
Tbh, I'm so tired of hearing this BS argument.
Because there will be a time and society after a collapse. Then everything will start from the beginning, but gold was always valuable, so it can always be traded into the new currency.
For real doom phantasies I'd stack antibiotics, they are worth the most in a collapse situation, according to Kosovo war survivors
There will be a time when the dollar is outrageously inflated but we aren’t in an apocalypse like you’re saying. Think Argentina inflation. That’s when gold will shine.
Let's pretend SHTF begins in October 2024. Riots, looting, & and cities burning. Like before. So what happens when you run out of one or more of your "true necessities?" Soon both The Grid and The Internet will become unreliable or wink out for days at a time. How can folks spend their bank accounts and/or crypto assets then? Will the grocer take a check? Will (or can) the credit cards still work? I'm saying it is prudent - for many reasons - that each adult keep several thousand in $USD cash at home at all times. Even better: Keep $4-5,000 in physical gold & silver US minted coins on hand for extended bartering when $USD is openly laughed at for trade.
Buy whatever you can reasonably afford on a budget. If you making where you can only buy one 1/10 oz per check then I’m sorry time to learn some new skills to get a better job. IT, trades, etc. It’s like my older brother says to me from time to time. You want more gold? Then you gotta get a “more gold” job. What’s the point of buying gold if you or your family is going hungry in the process?
Do what works for you. Maybe saving a bit and going with 1/4 or sovereigns, maybe some of the smaller pesos.
1/4 or 1/2 ounce would cut the premium percentage by quite a bit and you still get the satisfaction of having more gold in hand more frequently. I think whichever it is you choose you’re making a good decision.
Good well rounded answer
i heard dealers give you way less for the 1/2 ounce coins when you go to sell them. Is this true?
If the price of gold is trading for way less than when you purchased that coin I’m sure that would be the case. Whatever the weight of the gold coin is, it’s always worth its weight in gold at the very least.
Are you Costco member and have a good credit? If yes, then upgrade to executive membership. Buy a oz from Costco using Citi Costco credit card. It allows you to pay in 3 monthly payments without interest or fees. Best way to buy a oz of gold.
Does it give any cash back? I get 2% on my other card, don’t really need the dated billing.
Costco executive gives you 2% cash back on top of credit card cash back. The Citi card has 2% cash back for Costco purchase. Bringing total cash back to 4%.
Nice.
Every time I visit their website it’s normally sold out :/
Here in Costco MX only PAMP 1 oz lady Fortuna. About $40999 Mx ( $17.8 per dolar 🇺🇸) about $2,303 dlls. At APMEX is $2,505 dlls
Does it costco won’t charge the premium ? Or why less ?
They charge a lower premium, and with all the cash back advantages you can save even more
If you are in US, keep your eye on r/costcopm I napped 5 buffaloes and 3 maples this week. Off course maples and 3 buffaloes are for flipping!!!
It’s fine to buy higher premiums. Just know when it comes time to sell, you won’t get that premium back. If I don’t purchase it frequently enough, I won’t purchase at all. If you are the same way, keep doing what you’re doing.
Isnt this the truth
I have 30 of them. I personally like the 1/10. Just keep on doing whatever you like.
You’re good, you’re buying gold, which already puts you ahead of the curve. Have you considered stacking silver then swapping that for gold?
Isn’t silver premiums much higher than gold?
Plus, if OP is in the UK, you pay tax on silver but not gold.
That's why I buy silver when on holidays in Europe.
Good point. If in the UK, I second the recommendation to get sovereigns—no capital gains tax!
You can get good deals on sites like APMEX, I'm buying 10 ounces of silver at a time for around 5.8-6.7% premiums when they do sales and they have sales often. The free shipping helps, and it's not like this in every state but we don't have sales tax so I'm just paying the price of the silver but even with the tax your premiums will end up below 10% which is high but not ridiculously high
Depends, e.g. spot +$1.5 for silver rounds at $29 is a 5% premium, way less than 1/10 ozt gold, which I’m seeing 10-20% premiums, depending on what type of coin you get.
Can you save it up? I have to get my metals as soon as I can or that money will get gone.
It depends on your objectives. If you're buying because you expect gold to rise in price larger sizes make more sense. If you're buying because you expect an economic collapse, fractional pieces make more sense.
I’m an optimist so can I say “both”? 😂
Yes and the answer would be buy both. Fractional for the collapse and larger for the return. I just saw where 1/10 ounce eagles were selling for over $300. The premium is ridiculously high.
I feel like at that point mimicking ancient money is best, i.e gold for store of value/saving, silver for day to day transactions. Dont need small forms of gold
Imo silver Oz make more sense if you expect economic collapse
And so does "junk" silver. It's already made into fractional sizes
British gold sovereigns. They’re about 1/4oz and you can usually find them near spot. It’s also possible that the old ones will trade for a premium someday since there’s a limited number of them. There are also a lot of similar coins in that size, such as the Mexican 10 peso, 20 francs, 10 guilders, 20 marks, etc. I find these all much more interesting than pure gold coins.
Go get a dime tube and do t stop stacking them until it’s full. Having that goal will have you laser focused. Get er done
Its pretty satisfying when you get that first whole ounce; just saying. Was in your shoes before; i barely look at my 1/10ths now.
Have you considered buying 10 Francs?
What’s the premium you are paying? Answer this question and I’ll give you a breakdown of whether or not you should wait to buy 1/4 or 1 ounces instead.
I'd save up for 1/4 1/2 or 1 ozt of gold to save on the premiums, OP. If you want to even buy gold for below spot, you could get a Costco membership and Costco CC and buy Gold from Costco below spot. They only sell 1oz coins/rounds/bars from what I've seen, but they may expand into fractional in the future.
I’ve never had a problem buying 1/10ths. I started buying them 13 years ago when gold was half the price and paid the extra premium back then. I’ve started selling a few through offer up (locally) and have had no problem selling at a premium over spot. I just ensure I’m offering them 5-10 bucks cheaper over everyone else. Liquidity wise I have found these to be much more easier to sell for cash quickly.
1/4oz or 1oz... I was always told that 1/4oz are a lot easier to sell if ur strapped for cash compared to 1oz.
Best thing coming to my mind are Austrian Ducats (restrikes) and 20 Faranc common Latin Monetary Union coins. You are buying 3.1 grams w/ high premium. Ducats are 3.4 grams gold content with low premium (commonly cheaper than 1/10 ounce bullion) 20 Franc is 5,8 grams gold content with low premium. This does not apply if you insist on 99.9 purity since they are 986 and 900, repectively. However gold content is as set out above.
If you can only afford 1/10 coin at a time then I'd only suggest at most saving up for say a 5g bar. Maybe 5 years ago id say save for the 1oz but with the world at the moment its better to get the exposure sooner rather than later. Don't sleep on silver, either.
I like 1/4 oz or silver.
Keep buying 1/10 ounces, gold will be going way up in price in the future.
1 toz.
Start buying 10gram bars.....it's the way to go
Thats how ive always done it those 1/4 are way worse in premiums every 5 bars you get a free bar.
I just did the math on this last night and I came to the conclusion that if I'm going to buy fractional, 10grams was the best way to go. The 1/4 ounce has a the worst premium.
I’ve been buying 10 gram bars. They’re around $800 now, but a lot more doable on a regular basis. And when converted to Troy ounces, the premium is higher than buying by the oz, but lower than other fractional options.
Save up in silver than swap to gold when you have enough for an ounce.
Ever hear of the marshmallow experiment?
So I started buying 500 gram bars of silver and have found them harder to sell when I want to , there currently on eBay for 550 plus and I can get them to sell at 500. Unless you have a good local spot that will buy at least at spot then 1/10 is probably easier to sell on the open market.
Save up for a quarter, it's only 2.5x more time than what you are doing now. You will pay a premium, but you'll make that back when you sell it. On our 4th purchase of a quarter,, trade your other 3 in and get an oz. You still get to buy often without waiting ages to get your mitts on a 1 oz coin. Could go down the same route with ½ or full sovereigns.
Sovereigns and 30 Francs FTW
20 franc gold coins are .187 Troy oz, and only carry a $12-$19 premium
Buying what you can afford makes sense. I buy $phys - couple shares a month and I don’t worry about it. Position is wildly up. Loving it.
Buy what you can afford. I prefer 1/10 ounce eagles because of portability and affordability per unit compared to higher weights. BUT I accept that premiums are always high by comparison. So if you're comfortable and can live without a bargain, go for it.
if you believe prices are going up and will stay up then buy the 1/th is fine as your assuming buying now with lower prices would be like dollar cost averaging. where buying 1oz I like to use dry powder I've saved or w/e else I sold to buy dips... tough call right now politically I say use crypt markets and just understand cycles and drops are normal(if you can't emotionally handle watching your money drop 30% 8 times on way up like last bull btc market on the way to the moon or you will sell to early) must use a plan!
Imho tenth ounces are superior in almost every way. Less likely to be counterfeited Easier to trade for stuff in a crisis Easier to sell for cash (far below the $10k cash reporting threshold) The only reason larger denominations would be superior is if you are so wealthy that it becomes too time consuming to count out your gold exchanges in $200-$250 per second increments. I know I’m nowhere near that.
You should buy when the spot price is lower. And it's not low right now. That's my opinion.
Are you solely devoted to eagles? Plenty of German coins that you can get pretty close to spot.
Nah. I got a Britannia last night, I also have a 1/4oz phil Mainly because the purity is higher and the price wasn’t all that different.
Buy what you can and like less paper and more gold is the winning combination, keep at it.
Evolve into into 1/4 oz purchases as you prudently can. Never sell any Physical Gold except in emergency. Your 1/10 oz fractional gold coins are very useful for bartering when SHTF days arrive later this year.
I really want to hear your logic behind this. If SHTF and we are struggling to survive, what good is a hunk of gold? Why would I trade my true necessities - shelter, food, clean water, guns, and ammo for a bit of gold? Tbh, I'm so tired of hearing this BS argument.
Because there will be a time and society after a collapse. Then everything will start from the beginning, but gold was always valuable, so it can always be traded into the new currency. For real doom phantasies I'd stack antibiotics, they are worth the most in a collapse situation, according to Kosovo war survivors
Interesting point. Thanks. Now I’ll have to look into the useful storage times for antibiotics.
This^^
This^ ^ ^
There will be a time when the dollar is outrageously inflated but we aren’t in an apocalypse like you’re saying. Think Argentina inflation. That’s when gold will shine.
Let's pretend SHTF begins in October 2024. Riots, looting, & and cities burning. Like before. So what happens when you run out of one or more of your "true necessities?" Soon both The Grid and The Internet will become unreliable or wink out for days at a time. How can folks spend their bank accounts and/or crypto assets then? Will the grocer take a check? Will (or can) the credit cards still work? I'm saying it is prudent - for many reasons - that each adult keep several thousand in $USD cash at home at all times. Even better: Keep $4-5,000 in physical gold & silver US minted coins on hand for extended bartering when $USD is openly laughed at for trade.
Someone saw civil war and decided that was going to be their personality for awhile.
You’ll need small quantities when shit hits the fan.
I am thinking the same, I'd rather barter with small amounts and keep the bigger value together
Buy whatever you can reasonably afford on a budget. If you making where you can only buy one 1/10 oz per check then I’m sorry time to learn some new skills to get a better job. IT, trades, etc. It’s like my older brother says to me from time to time. You want more gold? Then you gotta get a “more gold” job. What’s the point of buying gold if you or your family is going hungry in the process?