Buying gold now?

[ARealConservative]

What does over spot mean? And if I buy silver today, how much should I expect to pay for it?

Thanks !!

spot is the price bullion is trading at.

If you buy silver, you will pay for the price of silver, and then a premium based on the shape the silver comes in.

Normally for junk silver (U.S. coins before 1965 that contain 90% silver), you pay only spot - or the price silver trades at.

For other items you will pay over spot. For instance, Silver Eagles usually go 4-6% over spot. So you would expect to pay around $19-$20.

I say normally because the market to buy and hold is not matching up with this right now. The market is usually more fluid then this but isn't today - and I find it strange (I've been doing this for a long time)

 

[Corydoras]

Spot price comes in 2 types, bid and ask. See the top toward the left on this page.
http://www.thebulliondesk.com/

When you buy gold, you will pay at some price over the asked spot price.
So if the ask spot price is $1000 and they are charging you 2% over spot, you pay $1020.

When you sell gold, you will receive a price based on the bid spot price. Don't be surprised if you are offered below the bid spot price.

 

[seapilot]

It's the perfect time to buy Palladium. I would wait a bit though if your looking to buy Gold or Silver.

Palladium has more to down to go, my guess is below 400. It is such a limited market that it is easily manipulated. Investing in Palladium is not for the faint of heart.

Its way more volatile than gold and silver and not a lot of dealers will take it because its hard to resell(due to name recognition) or charge ultra high premiums.

Gold and silver is superior for wealth preservation and insurance against a devaluing dollar.

 

[Dianne]

Thanks for the help everyone. This is all new to me. I wish someone would tell me what button to click, what to buy for how much )))

This is so confusing to the novice.

 

[Andrew-Austin]

Would today be a good time to buy an ounce of gold, or should I wait a little bit longer?

 

[RadiantBlueLight]

Would today be a good time to buy an ounce of gold, or should I wait a little bit longer?

If you buy from a local coin shop, they typically go by yesterday's market closing prices. If there's a big upswing in gold you have 24 hours to get yesterday's price. Also, coin shops don't charge tax in most states.

 

[BW4Paul]

Thanks for the help everyone. This is all new to me. I wish someone would tell me what button to click, what to buy for how much )))

This is so confusing to the novice.

Right now, BullionDirect has 80 oz of .999 for $17.65. Frankly, I'd say that is the best deal you're gonna get. If only I hadn't gotten in at $20, I'd be all over that deal :o
http://www.bulliondirect.com/nucleo/lp/Silver_Bullion_999pure_Bars_Rounds_(1.00_oz).html