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ok i need help. ive been looking online for a few days now trying to understand how to buy or know the value of gold and gold bars.

looking at even auctions on ebay i get confused.

http://www.ebay.com/sch/i.html?_nkw=gol ... =200&rt=nc

i see bars listing at 2.5 grams .9999 gold called Pamp Suisse. what is Pamp Suisse? how much should 2.5 of .9999 be worth?

what does 100 mils mean? anything i should look for?

just any info would be great. thanks.

100 mils means its not gold, just plated gold with a paper thickness of 100 millionths of milimeter thick

Yeah, avoid anything with Mills, Clad, Plated. Those are scams.

Lemon Thrower wrote:100 mils means its not gold, just plated gold with a paper thickness of 100 millionths of milimeter thick

Google says: 100 mils = 0.00254 meters

Mil = A unit of length equal to one thousandth of an inch.

Try this. http://www.goldgrambars.com/

A mil is a thousanth of an inch. As stated, avoid those bars.

To calculate the spot value of metal in a bar measured in grams ...

2.5 grams / 31.1 grams per troy ounce = 0.08 troy ounces x $1700 per troy ounce (approximate current spot price of gold) = $136.66

If you find a pamp suisse bar for this price, jump on it!!! Small bars always carry a premium over the spot price. Also, pamp suisse is a very well-known maker and their bars are highly sought after. Expect to pay a significant premium over spot for a 2.5 gram pamp suisse bar.

Pamp/Credit suisse are all renowned makers of gold bars. Make sure you buy bars in original Assay cards. Nothing wrong in purchasing open/loose bars but that is just my personal opinion. But any gold at melt price is good gold

Pamp
Credit Suisse
Engelhard
Johnson Matthey
Silvertowne
etc. are popular bar markers that well known for their quality, all good choices
All of these companies are research-able on google

Gold at melt is also a good deal all day long

But 1 Gram, 2.5 Gram, 5 Gram, 10 Gram, 20 Gram bars carry huge premiums to the ounce.

Example 1 Gram gold Bar= $70 then 31.1 grams x 70= $2177 oz.
Buying larger cuts the premiums

Also coins tend to be more popular than bars in most cases

www.apmex.com is a good starting place to look at the value of the coins. If you can get below their prices than you are doing good. They are a retail site so there prices tend to be a little high. Use their site to educate yourself.

If you have any specific questions feel free to ask.

I picked up a 2.5 gram bar for 3% over spot. That to me was a good deal.

Someone else that was at the show picked up some 1 grams for $65. That is a VERY good price.

Anytime you buy in small quantity there its a premium. But you also resell at a premium. Try to buy as close to spot as you can.

3% over spot is not bad for a 1 ounce item, getting that for a 2.5 gram bar is spectacular. Check eBay to see the premium those little guys usually carry.

so is 67.63 for 1 gram bar a good price or a bad price?

tractorman wrote:A mil is a thousanth of an inch. As stated, avoid those bars.

To calculate the spot value of metal in a bar measured in grams ...

2.5 grams / 31.1 grams per troy ounce = 0.08 troy ounces x $1700 per troy ounce (approximate current spot price of gold) = $136.66

If you find a pamp suisse bar for this price, jump on it!!! Small bars always carry a premium over the spot price. Also, pamp suisse is a very well-known maker and their bars are highly sought after. Expect to pay a significant premium over spot for a 2.5 gram pamp suisse bar.

how would the calculation for 1g bars look?

1g / 31.1 x spot price

1g / 31.1 x 1672(right now) = $53.76

DollarsNSense wrote:so is 67.63 for 1 gram bar a good price or a bad price?

I think it is high. I have found from past experiences that Gainesville coins have one of the best prices on 5g and 10g Pamp bars. If you can find any below their cash price, then yes it is a good price. If not, then I will continue looking for more.

Immediately after a price drop dealers may be reluctant to sell at a low margin. They can't stay in biz if they buy high and sell low.

IdahoCopper wrote:Immediately after a price drop dealers may be reluctant to sell at a low margin. They can't stay in biz if they buy high and sell low.

Not true.

Apmex and other dealers hedge and make money on the premium rather than spot as I understand it

TXBullion wrote:

IdahoCopper wrote:Immediately after a price drop dealers may be reluctant to sell at a low margin. They can't stay in biz if they buy high and sell low.

Not true.

Apmex and other dealers hedge and make money on the premium rather than spot as I understand it

That's how I understand it too. Its the small-timers and wannabes that will cut you off.