I’m new to buying gold. What makes 1 mint command a higher price than another?


gold buying
greenest 5 asked:


If it’s all 9.999 purity why the difference?

This entry was posted on Monday, December 28th, 2009 at 12:00 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “I’m new to buying gold. What makes 1 mint command a higher price than another?”

  1. Theresa Says:
    December 30th, 2009 at 10:15 pm

    I take it you are comparing prices in the same currency.

    Like any other business, reputation could account for some differences. With gold, there can big a big trust element (that the gold really is of the quality stated). Also, traders in physical gold have to make their money somehow - they do this by charging a transaction fee each time you buy or sell gold. These transaction fees can vary widely.

    I suggest you get quotes from a few and see who will give you the best price. Then play them off against each other.

    There is a rumour (supported by a lot of gold experts) that there is a lot of gold bars on the market that are gold on the outside and tungsten on the inside. As tungsten is the exact same weight as gold, and most gold testing is done on the outside via an acid test, you would be wise to take care where you buy the gold.

    There is good info all round on gold on the site “24 hr gold”. Theresa

  2. OralBobs Says:
    January 1st, 2010 at 4:45 pm

    Fashion.

    (Honestly…) OralBobs

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