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Would you ever want one?

I want to get some larger gold stuff. I'm looking at the 2oz australian coins but they are hard to come by. So I'm thinking of getting a 10 oz bar. I like the idea of being able to really get a sense of gold's density and hold a big chunk of it. I'm thinking of trading in some silver to get part of the way to buying it. Or maybe liquidating much of my savings account - I'm not going to be using it anytime soon.

Anyone think this is a dumb idea?

It's all relative.

HelloMeteor wrote:Would you ever want one?

I want to get some larger gold stuff. I'm looking at the 2oz australian coins but they are hard to come by. So I'm thinking of getting a 10 oz bar. I like the idea of being able to really get a sense of gold's density and hold a big chunk of it. I'm thinking of trading in some silver to get part of the way to buying it. Or maybe liquidating much of my savings account - I'm not going to be using it anytime soon.

Anyone think this is a dumb idea?

Yes... I think this is a dumb idea. You are never going to be able to spend it, and your market as an eventual seller will be extremely limited. If you want to sense gold's density and hold a chunk of it, then buy ten ounces and stack them, or visit someplace that markets them (?) and just ask to hold one as if you're making up your mind as whether to buy it or not. Save yourself the money.

beauanderos wrote:

HelloMeteor wrote:Would you ever want one?

I want to get some larger gold stuff. I'm looking at the 2oz australian coins but they are hard to come by. So I'm thinking of getting a 10 oz bar. I like the idea of being able to really get a sense of gold's density and hold a big chunk of it. I'm thinking of trading in some silver to get part of the way to buying it. Or maybe liquidating much of my savings account - I'm not going to be using it anytime soon.

Anyone think this is a dumb idea?

Yes... I think this is a dumb idea. You are never going to be able to spend it, and your market as an eventual seller will be extremely limited. If you want to sense gold's density and hold a chunk of it, then buy ten ounces and stack them, or visit someplace that markets them (?) and just ask to hold one as if you're making up your mind as whether to buy it or not. Save yourself the money.

APMEX would buy it.

Some wealthy people hold gold in larger pieces.

I'll admit though I don't really have a good reason.

I won't hold my self to be an expert of any sort. But giving my perspective as a consumer/investor/preparer and various other things I would probably never be in the market for a 10 oz anything at this point. I hate HATE getting under spot price for things I had to buy over it. So I like one OZ at a time since I can usually get at least spot for it most of the time. They do exist for a reason though so someone must buy them.

Hi there-

I don't think it's a dumb idea at all, but make sure that's money that you don't plan on utilizing for a few years. If you have 10 ounces of gold and want to convert it into that one bar, that might not be the best course of action. However, If you have 30 individual ounces of gold and want to convert some into that bar, I say go for it.

jmo

wags

Maybe a 100 gram loaf makes more sense at this point.

Any serious gold dealer in any mid or large sized city probably buys 10 ounces or more in any given day, or at least is able to. No different that if five people come in with 2 Krugerrands each. It is not illiquid at all.

You have gotten a lot of responses with different ideas. In the end, it is up to you to decide what to do with your wealth.

Without a doubt, the bigger the chunk of metal you buy, the fewer buyers there will be when you decide to sell it.

$100 bills are pretty liquid, and you'd still have trouble spending them at many places.

At 10 ounces, any dealer sale is going to have to be reported to the IRS (>$10,000 threshold).

Too many negatives when it's just as easy to buy 10 1oz. bars/rounds/coins and stick them in a tube.

Nickelmeister wrote:It's all relative.

I should expand on my first comment. It was very late and I was going to bed.

If you plan on taking a large gold position (where 10 ounces comprises only a small fraction of the total), then go for it. 10 oz is NOT at all illiquid, despite what anyone here may say. However if 10 oz is the bulk of your holding, then it would probably be best to get smaller pieces for divisibility reasons.

You are right about the weight/feel/desnsity issue. Nothing feels like as good as a BIG CHUNK of gold in your hand

p.s. 5 oz ingots get the job done too.

I may or may not have purchased a JM 10 oz. gold bar last year and it's possible I did some research about liquidity, and found that any large bullion dealer would buy it from me (assuming I bought one in the first place, which I may or may not have done ) If you want one, buy one. You won't have any difficulty selling it, and you'll be hard pressed to find gold for as little over spot.

I may or may not have typed this...

Meteor,
nothing's "dumb"....nor is ANY commodity "illiquid", but just consider this, two measures of PM's roughly the same value, more or less, a 10 oz bar of gold, or a "monster box" of 25 tubes of 20 one oz .999 American Silver Eagles....................true, you flee quicker with the 10 oz bar, but what offers more options of TRADE?

and i could seque that question into a discussion of why i prefer quality rolls of 90% American pre-65 coins...tradeability.

tradeability is a key word, versus liquidity, which implies you want to get paid in fiat paper currency. i look at fiat paper currency these days, and i see just that, paper. Praying and hoping the whole ponzi scheme just stays together a weeeeee bit longer, 2 years, 5 years, God only knows.

"keeep it secret, keep it safe", neil

If the sh!$ hits the fan you can easily escape to greener pastures with your ten ounce bar. You can always chop it up into smaller chunks if you needed to. Too bad I don't have enough loot to have such questions.

I have often day-dreamt about holding a large sum of physical gold at one time. For some reason it always involved rolls of 1oz coins.

If you get it. . . I would sure like to hold it!!!

Ahh what if you need to sell 1-9 ounces and keep the rest? My feeling would be you would have to sell all 10 oz and then re-buy at current sell prices whatever amount of ounces you want to keep. That's wasting money, only dealers most often can sell high buy low. That's not to mention however long the money would be tied up in the transaction, gold could jump 50 dollars and ounce easily over a few days/week. If that will never be an issue for you, go for it, a 10 oz bar would be awesome. Just some of my thoughts that popped into my head.

Scotty

argent_pur wrote:I may or may not have purchased a JM 10 oz. gold bar last year and it's possible I did some research about liquidity, and found that any large bullion dealer would buy it from me (assuming I bought one in the first place, which I may or may not have done ) If you want one, buy one. You won't have any difficulty selling it, and you'll be hard pressed to find gold for as little over spot.

I may or may not have typed this...

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