I want to buy gold coins. as of 8/15 gold closed @ 785.5 an ounce, how much should an american gold eagle ?

Question

how much should a 1 ounce south african krugerand or canadian maple leaf cost me... is it the same as the cost of an ounce of gold or do i have to pay some type of markup ... thanks

Answer 1

There is always a small mark-up, and it varies with the coin. Krugerrands have the smallest mark-up, and the US gold eagle has the highest mark-up. Here is a link to current prices being asked by a major bullion dealer. These prices will vary with the spot gold price.

https://online.kitco.com/bullion/index.h...

With spot gold at $785, the K-rand is $803.76, Canada Maple Leaf is $827.40, and the US gold Eagle and Buffalo are at $831.34

Answer 2

Here is an average of the Krugerand

http://search.ebay.com/1-ounce-south-afr...

and the Canadian Maple Leaf:

http://search.ebay.com/search/search.dll...

American Eagle gold coin

http://search.ebay.com/search/search.dll...

If you have an ebay account, save them in your account and keep an eye on the average of how much they are selling for.

Answer 3

Spot price is an interesting animal.  If you are selling, people will offer you less than spot, but never more.  It you are buying, people will ask for more than spot, but never less.  So unless you are buying substantial quantities under a contract arrangement, nobody buys or sells at exactly spot.

If you go visit a coin dealer who sells bullion coins such as you describe, they should charge you a small amount over spot.  We should not begrudge dealers an honest profit.  When you buy locally, you do not have worry about shipping, handling, insurance,  customs restrictions, import duty,  etc.

Grandpa