Where can one buy gold?

[Legend-I-Aint]

This may be a stupid question and I know I can google it. Where would you smart folks buy some gold? Do you get paper certificates?

Thanks.

 

[Doug]

coin dealers sell/ buy physical gold

 

[whalewager]

Some jewelry stores buy and sell gold.

 

[whalewager]

Make sure of what you are getting.

 

[steaktartar]

leon spinks' dentist

 

[whalewager]

Bettors that deal gold too.

 

[Legend-I-Aint]

I mean shit guys, do I have to build an addition on my house to stack up gold slabs or can I buy certificates that indicate how many ounces I own?

Back in the 80's you could get a lot of gold off the kids in the hood. Some of tham f'rs had clocks around their necks that looked like they worth a hundie easy.

Cool.

 

[whalewager]

Just buy gold coins and drill a hole in each one and put them on a gold rope chain around your neck.

 

[RobFunk]

Shocked at Dougs answer

I thought krugerrands were the way to go?!

 

[punter]

You can buy futures contracts from your broker if you dont sell by maturity I guess you can take delivery. Bricks would make great door stops.

 

[roadreeler57]

Ask Woofdaddy but I havent seen him posting lately...Look in the Sell,Sell,Sell thread

 

[fletchisrhsm]

I have never bought certificates, i just go to a dealer up the street from my house and by everything in real time at market price. I pay a small premium over spot gold but i like to have the physical stuff, not some certificate that can and will be exploited at some point in the near future. I mean an ounce of gold, a coin is worth $400 and up the last 6 or so years....its not like your hauling a wheel barrow around.

 

[Doug]

I mean shit guys, do I have to build an addition on my house to stack up gold slabs or can I buy certificates that indicate how many ounces I own?

Back in the 80's you could get a lot of gold off the kids in the hood. Some of tham f'rs had clocks around their necks that looked like they worth a hundie easy.

Cool.

You won't need any addition, a cubic foot of gold weighs nearly a ton. So, unless you have many millions of dollars of gold to store, a shoebox size container is big enough ( and worth more than most houses, when full). You'd never be able to lift that, if it were full !

 

[fletchisrhsm]

I wouldnt be worried about building an addition. Not when a LB of gold today is trading for 12,800. That be alot of bread for a pound. Im my neck of the woods, that LB of gold is worth roughly 32 "onions" as we used to say back in the covert high school days.

 

[Doug]

I wouldnt be worried about building an addition. Not when a LB of gold today is trading for 12,800. That be alot of bread for a pound. Im my neck of the woods, that LB of gold is worth roughly 32 "onions" as we used to say back in the covert high school days.

Gold is a bit different. You trade it in troy ounces/lbs. A pound has 12 ounces. The troy ounce is bigger than the regular ounce.

It still means a shoebox of K-rands is worth much more than a normal house, so you won't be stacking bars of gold on pallets, in your new" Gold room".
.......................................................................................................

Troy weight

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Troy ounce is a traditional unit of gold weight.


Troy weight is a system of units of mass customarily used for precious metals, black powder, and gemstones.
Named after Troyes, France, the troy system of weights was known to exist in medieval times. One cubic inch of distilled water, at 62 °F (17 °C), and at a barometric pressure of 30 inches of mercury, was determined to weigh 252.458 troy grains (gr).<sup id="cite_ref-0" class="reference">[1]</sup>
<table id="toc" class="toc" summary="Contents"> <tbody><tr> <td> Contents

[hide]

• 1 Troy ounce
• 2 Troy pound
• 3 Conversions
• 4 Relationship to British coinage
• 5 See also
• 6 References

</td> </tr> </tbody></table> <script type="text/javascript"> //<![CDATA[ if (window.showTocToggle) { var tocShowText = "show"; var tocHideText = "hide"; showTocToggle(); } //]]> </script>
[edit] Troy ounce

The troy ounce (ozt) is 480 grains, somewhat heavier than an avoirdupois ounce (437.5 grains).<sup id="cite_ref-dictionary.com_1-0" class="reference">[2]</sup> A grain is exactly 64.79891 mg; hence one troy ounce is exactly 31.1034768 g, about 10 percent more than the avoirdupois ounce, which is exactly 28.349523125 g. The troy ounce is the only ounce used in the pricing of precious metals, gold, platinum, and silver.<sup class="noprint Template-Fact">[citation needed]</sup> The grain, which is identical in both the troy and avoirdupois systems, is used to measure arrow and arrowhead weights in archery and bullets and powder weights in ballistics. Grains were long used in medicine but have been largely replaced by milligrams.

[edit] Troy pound

The troy pound (troy) is 5,760 gr (≈ 373.24 g, 12 ozt), while an avoirdupois pound is 7,000 gr (≈ 453.59 g).
There are 12 troy ounces per troy pound,<sup id="cite_ref-dictionary.com_1-1" class="reference">[2]</sup> rather than 16 avoirdupois ounces (oz) in the avoirdupois pound (lb) as in the more common avoirdupois system. The avoirdupois pound is 14⁷⁄₁₂ (≈ 14.583) troy ounces, since troy ounces are larger than avoirdupois ounces.
In Scotland the Incorporation of Goldsmiths of the City of Edinburgh used a system in multiples of sixteen. (See Assay-Master's Accounts, 1681-1702, on loan from the Incorporation to the National Archives of Scotland.) Thus there were 16 drops to the troy ounce, 16 ounces to the troy pound, and 16 pounds to the troy stone. The Scots had several other ways of measuring precious metals and gems, but this was the common usage for silver and gold.

[edit] Conversions

<table class="wikitable"> <tbody><tr> <th>Unit</th> <th>Grains</th> <th>Grams</th> </tr> <tr> <td>Troy pound (12 troy ounces)</td> <td>5,760</td> <td>373.241 721 6</td> </tr> <tr> <td>Troy ounce (20 pennyweights)</td> <td>480</td> <td>31.103 476 8</td> </tr> <tr> <td>Pennyweight</td> <td>24</td> <td>1.555 173 84</td> </tr> <tr> <td>Grain</td> <td>1</td> <td>0.064 798 91</td> </tr> </tbody></table> <table class="wikitable right" style="height: 220px;"> <caption><big>English pounds</big></caption> <tbody><tr> <th rowspan="2">Unit</th> <th colspan="6">Pounds</th> <th colspan="3">Ounces</th> <th rowspan="2">Grains</th> <th colspan="2">Metric</th> </tr> <tr> <th>avdp.</th> <th>troy</th> <th>tower</th> <th>merc.</th> <th>lond.</th> <th title="rounded">metric</th> <th>avdp.</th> <th>troy</th> <th>tower</th> <th title="slightly rounded">g</th> <th title="rounded">kg</th> </tr> <tr> <th height="30">Avoirdupois</th> <td align="right">1</td> <td align="right">¹⁷⁵<big>⁄</big>₁₄₄</td> <td align="right">³⁵<big>⁄</big>₂₇</td> <td align="right">²⁸<big>⁄</big>₂₇</td> <td align="right">³⁵<big>⁄</big>₃₆</td> <td align="right">~¹⁰<big>⁄</big>₁₁</td> <td align="right">16</td> <td align="right">14<s style="display: none;">+</s>⁷<big>⁄</big>₁₂</td> <td align="right">15<s style="display: none;">+</s>⁵<big>⁄</big>₉</td> <td align="right">7000</td> <td align="right">~454</td> <td align="right">~⁹<big>⁄</big>₂₀</td> </tr> <tr> <th height="30">Troy</th> <td align="right">¹⁴⁴<big>⁄</big>₁₇₅</td> <td align="right">1</td> <td align="right">¹⁶<big>⁄</big>₁₅</td> <td align="right">⁶⁴<big>⁄</big>₇₅</td> <td align="right">⁵<big>⁄</big>₆</td> <td align="right">~³<big>⁄</big>₄</td> <td align="right">13<s style="display: none;">+</s>²⁹<big>⁄</big>₁₇₅</td> <td align="right">12</td> <td align="right">12<s style="display: none;">+</s>⁴<big>⁄</big>₅</td> <td align="right">5760</td> <td align="right">~373</td> <td align="right">~³<big>⁄</big>₈</td> </tr> <tr> <th height="30">Tower</th> <td align="right">²⁷<big>⁄</big>₃₅</td> <td align="right">¹⁵<big>⁄</big>₁₆</td> <td align="right">1</td> <td align="right">⁴<big>⁄</big>₅</td> <td align="right">³<big>⁄</big>₄</td> <td align="right">~⁷<big>⁄</big>₁₀</td> <td align="right">12<s style="display: none;">+</s>¹²<big>⁄</big>₃₅</td> <td align="right">11<s style="display: none;">+</s>¹<big>⁄</big>₄</td> <td align="right">12</td> <td align="right">5400</td> <td align="right">~350</td> <td align="right">~⁷<big>⁄</big>₂₀</td> </tr> <tr> <th height="30">Merchant</th> <td align="right">²⁷<big>⁄</big>₂₈</td> <td align="right">⁷⁵<big>⁄</big>₆₄</td> <td align="right">⁵<big>⁄</big>₄</td> <td align="right">1</td> <td align="right">¹⁵<big>⁄</big>₁₆</td> <td align="right">~⁷<big>⁄</big>₈</td> <td align="right">15<s style="display: none;">+</s>³<big>⁄</big>₇</td> <td align="right">14<s style="display: none;">+</s>¹<big>⁄</big>₁₆</td> <td align="right">15</td> <td align="right">6750</td> <td align="right">~437</td> <td align="right">~⁷<big>⁄</big>₁₆</td> </tr> <tr> <th height="30">London</th> <td align="right">³⁶<big>⁄</big>₃₅</td> <td align="right">⁶<big>⁄</big>₅</td> <td align="right">⁴<big>⁄</big>₃</td> <td align="right">¹⁶<big>⁄</big>₁₅</td> <td align="right">1</td> <td align="right">~¹⁴<big>⁄</big>₁₅</td> <td align="right">16<s style="display: none;">+</s>¹⁶<big>⁄</big>₃₅</td> <td align="right">15</td> <td align="right">16</td> <td align="right">7200</td> <td align="right">~467</td> <td align="right">~⁷<big>⁄</big>₁₅</td> </tr> <tr> <th height="30">Metric</th> <td align="right">~¹¹<big>⁄</big>₁₀</td> <td align="right">~⁴<big>⁄</big>₃</td> <td align="right">~¹⁰<big>⁄</big>₇</td> <td align="right">~⁸<big>⁄</big>₇</td> <td align="right">~¹⁵<big>⁄</big>₁₄</td> <td align="right">1</td> <td align="right">~17<s style="display: none;">+</s>³<big>⁄</big>₅</td> <td align="right">~16</td> <td align="right">~17<s style="display: none;">+</s>¹<big>⁄</big>₇</td> <td align="right">~7716</td> <td align="right">500</td> <td align="right">¹<big>⁄</big>₂</td> </tr> </tbody></table> The troy system was used in the Apothecaries' system, but with different further subdivisions.

 

[eek.]

Take note those who are new to this lark.

1 ounce = 28.34952 grams
1 troy ounce = 31.1034768 grams

There's a 10% (9.7%) difference between ounces and troy ounces, and gold is valued in troy ounces.

:grandmais

 

[fletchisrhsm]

Gold is a bit different. You trade it in troy ounces/lbs. A pound has 12 ounces. The troy ounce is bigger than the regular ounce.

It still means a shoebox of K-rands is worth much more than a normal house, so you won't be stacking bars of gold on pallets, in your new" Gold room".

Thanks for the correction good sir. I never have bought anything in a pound, just the coins when i have some extra scratch. I probably have about 30 coins. I also bought a shit load of walking liberty's on Ebay the Monday for about 6.50 dollars per oz. It was a lot of 200, ill probably get crushed on the shipping, still waiting on the price.

 

[barelyworking]

I believe in physical gold. I keep some in hand and some at goldmoney.com.

I use Camino Coin at 800 348 2001 for my physical purchases. Their speads are competative.

Free insured shipping.

 

[eek.]

I also bought a shit load of walking liberty's on Ebay the Monday for about 6.50 dollars per oz. It was a lot of 200, ill probably get crushed on the shipping, still waiting on the price.

They'll send each one individually, priority next day express mail, tracked and recorded with insurance.:missingte

 

[Doug]

The shipping and insurance cannot be free, you pay for it somewhere.

IMO, a local small-time dealer should be able to compete with a shipper, but I could be wrong.

Such a relationship could be good to develop, if you desire to keep things on a nice cash basis, and perhaps eliminate any pesky paperwork, your state might desire.

a safe deposit box is probably a decent idea with Gold, ... if you trust banks !