Has anyone tried to buy gold lately?

[pricey]

I just went to buy gold from my friends broker and was shocked to find you can no longer get gold/silver.

Apparently the governement 3 months ago stopped the sale of gold bullion/ingots.

Has anyone else seen this?

 

[jasperjue]

I can;t find any mention on the web and i haven;t come across this mentioned in any of the newspapers

i googled up the site below and they seem to be in the business of trading physical metal. I can't vouch for them at all but i would be interested to here how you go about getting your gold and silver

goldbullionaustralia.com.au

 

[NedKelly]

You can buy gold warrants on the ASX which is pretty much the same thing except you don't have to worry about being robbed. The code is ZAUWBA. You can exercise them at any time by turning up at The Perth Mint.

 

[ermen]

i am quite sure that u cld also go to the perth mint and buy physical gold...

with regards to l isted certificates... there is some distinction in the certificate that you buy - i.e. in whether its part of a pool or whether you own gold bar #xxxxxx in the vault. the latter is the safer play...

 

[Aaron Sice]

nothing on the perth mint site about that.

 

[evand]

I've always liked the idea of a gold bar sitting on the coffee table. Next to my beer.
Can you buy one like this? How much?

 

[Max Carnage]

Can you buy one like this? How much?

Yes.
About $13,000

But you wouldn't want it on the coffee table. A 10oz bar that shape would only measure around 6cm x 3cm x 2cm...

 

[Pete_d]

For 300g of gold...around $11,608 AUD. An expensive coaster for your beer

 

[NedKelly]

i.e. in whether its part of a pool or whether you own gold bar #xxxxxx in the vault. the latter is the safer play...

I think that if it comes down to arguing which part of any gold left in the vault is mine then Mad Max will probably be running the country.

 

[ianvestor]

I think that if it comes down to arguing which part of any gold left in the vault is mine then Mad Max will probably be running the country.

Don't try this at home kids, I'm a professional...

Ah sweet time-freedom, is there anything better in life?!

 

[pricey]

Apparently for three months you haven't been able to buy any gold from the perth mint.

Interesting about buying shares of it though

 

[ianvestor]

Are people allowed to trade physical bars freely, or would they have to sell it back to Perth mint to liquidate? Just wondering if you could buy a 'Perth Mint bar' from a 3rd party.

 

[Max Carnage]

Just wondering if you could buy a 'Perth Mint bar' from a 3rd party.

Of course!

 

[charttv]

Don't try this at home kids, I'm a professional...

Ah sweet time-freedom, is there anything better in life?!

ahahahaha, brilliant!

 

[landlubber]

Have you tried Australian Bullion Company in Sydney ?
Here's their web-site.

http://www.ausbullion.com.au/

LL

 

[ermen]

nothing on the perth mint site about that.

http://www.perthmint.com.au/investment_invest_in_gold_precious_metals.aspx

ermmm..there's a whole section here on gold investing...

 

[Sunfish]

I'm sure that if the Perth Mint had ceased to deliver it would have been mentioned on HC. Silver, in particular, has become hard to buy in the US and this fact has been discussed there (HC) but knowledgeable people said it was still easy to buy in Perth.

Beyond the risk of theft, don't take delivery of bullion bars. They will need to be re-assayed (at your cost) before they can re-enter the market.

 

[ianvestor]

Just wondering if you could buy a 'Perth Mint bar' from a 3rd party.

Of course!

For some weird reason I thought bars had registered owners like cars/houses do. (i.e. paperwork and stamp duty involved in trading them).

 

[Sunfish]

For some weird reason I thought bars had registered owners like cars/houses do. (i.e. paperwork and stamp duty involved in trading them).

More like a VIN. They are stamped with the refiner's brand, a serial number and the weight and purity. (old bars were only three nines pure, today they must be four nines) but as far as I know there is no registry.

If your bar is being held in secure storage you are on the facilities' register as the owner of a particular bar, identified by the refiner's name and the bar's serial (such as allocated metal at Perth Mint) but not on a master register.

All this is how I think it happens. I may be wrong in detail.

 

[boomtown]

Be very careful with what allocated means. Plenty of people have thought they owned specific bars only to find out that they didnt when the storage place went bust.