Gold bar buying advice

[moody10k]

Hi everyone

I am interested in buying 1 oz gold bar

Is there any advantages or disadvantages for each or it doesn't make a difference since they are the same weight  

1) PAMP Lady Fortuna 

 http://www.pamp.com/mintedingots/AU00RI022S101

2) Royal mint 

https://www.royalmintbullion.com/Products/Bars/RMGM1OZ

[BackyardBullion]

The problem you will have with bars is that they are easily faked and often so. 

It is generally easier to fake a bar than a coin and the risk/reward is a lot better than faking silver bars therefore there are a lot out there. 

Consequently there is a lot of scepticism on the market for gold bars and you might find that the only place you can sell it again is back to a bullion dealer basically for 96% of spot value. 

So I guess there are two schools of thought for buying gold bars. 

1) Buy as cheap as possible and as close to spot as possible but only from a reputable dealer. When the gold arrives, test it to make sure it is real (there have been stories of bars being passed on unknowingly even by dealers). Then when the time comes sell it for 96% spot or there abouts. 

2) Buy a premium gold bar, like the pamp bars. Buy only from a reputable dealer and once again try to test it as best as possible (it might be in an assay card so this could be hard). Then when you come to sell it hopefully you can find a Pamp collector or the like to take it off your hands at a premium. 

Option 2 is more risky and probably wont be that much better of an investment than option 1. 

My advice, steer clear of bars and go with 1 oz coins. much more pretty looking and easier re-sale market. 

[Bullionbilly]

I dont yet buy much gold but if / when i do it wont be bars for the reasons stated by Mr BYB above. Ive read may horror stories on bars. The above is very sound advise.

[moody10k]

@BackyardBullion Thank you for your detailed reply

 

[sixgun]

Buy a nice 1oz coin or sovereigns. It is not just you getting ripped off with a fake the next buyer will likely be suspicious as well as rightly so.

http://www.zerohedge.com/news/2017-10-30/could-be-huge-gold-bar-certified-royal-canadian-mint-exposed-fake

[Goldmick]

Have a good look at Atkinson's they have some lovely 1oz coins on there we all know them well on here. free next day special delivery much better than a bar. I have some small 2 gram bars from Atkinson's they are a bit harder to fake. Oh and welcome. 

[Xander]

1 hour ago, moody10k said:

Hi everyone

I am interested in buying 1 oz gold bar

Is there any advantages or disadvantages for each or it doesn't make a difference since they are the same weight  

1) PAMP Lady Fortuna 

 http://www.pamp.com/mintedingots/AU00RI022S101

2) Royal mint 

https://www.royalmintbullion.com/Products/Bars/RMGM1OZ

Gold Sovereigns are a good bet.

[Goldhooked]

I decided early on to stick to sovereigns when it comes to gold.  Easy to get at near spot and easy to sell on when required.

[HyHy]

Not too sure which one to go as well was thinking the PAMP 1oz seems to be a pretty good price as well only 4 quid more than a 2018 Britannia on Atkinsons.... not mentioning the Perth Mint bars is 4 quid cheaper than Britannia

[Beekepper]

On 15. 11. 2017 at 18:29, BackyardBullion said:

The problem you will have with bars is that they are easily faked and often so. 

It is generally easier to fake a bar than a coin and the risk/reward is a lot better than faking silver bars therefore there are a lot out there. 

Consequently there is a lot of scepticism on the market for gold bars and you might find that the only place you can sell it again is back to a bullion dealer basically for 96% of spot value. 

So I guess there are two schools of thought for buying gold bars. 

1) Buy as cheap as possible and as close to spot as possible but only from a reputable dealer. When the gold arrives, test it to make sure it is real (there have been stories of bars being passed on unknowingly even by dealers). Then when the time comes sell it for 96% spot or there abouts. 

2) Buy a premium gold bar, like the pamp bars. Buy only from a reputable dealer and once again try to test it as best as possible (it might be in an assay card so this could be hard). Then when you come to sell it hopefully you can find a Pamp collector or the like to take it off your hands at a premium. 

Option 2 is more risky and probably wont be that much better of an investment than option 1. 

My advice, steer clear of bars and go with 1 oz coins. much more pretty looking and easier re-sale market. 

BYB what do you think about Kinebar from Heraeus? That doesnt look to make an easy fake or it does?

[BackyardBullion]

24 minutes ago, Beekepper said:

BYB what do you think about Kinebar from Heraeus? That doesnt look to make an easy fake or it does?

I think regardless of the bar it is still a bar. 

People are weary of bars, like coins.

[Beekepper]

10 minutes ago, BackyardBullion said:

I think regardless of the bar it is still a bar. 

People are weary of bars, like coins.

Dont get me wrong, i take all advices on mind and thank you all. But this kinebar looks really nice.

i didnt understand the last words from you.(my english isnt perfect) Weary = does that mean tired, bored by bars becouse of look? And that is why you and others prefer coins?

[BackyardBullion]

Sorry - I meant people generally are not that confident buying bars on the secondary market. Too many fakes.

Buy what you like and what you want.

Just know that it will be harder for you to sell it when the time comes!

[Bullionbilly]

17 minutes ago, Beekepper said:

Dont get me wrong, i take all advices on mind and thank you all. But this kinebar looks really nice.

i didnt understand the last words from you.(my english isnt perfect) Weary = does that mean tired, bored by bars becouse of look? And that is why you and others prefer coins?

Weary = un-sure. Not confident.

[Bullionbilly]

53 minutes ago, Beekepper said:

BYB what do you think about Kinebar from Heraeus? That doesnt look to make an easy fake or it does?

The truth is anything can be faked ! Buy from trusted sellers amd hopefully you'll be ok. On the other hand, someone buying privately from you in the future is in the same predicament as you, is it fake... is it not ? 

[Beekepper]

9 minutes ago, BackyardBullion said:

Sorry - I meant people generally are not that confident buying bars on the secondary market. Too many fakes.

Buy what you like and what you want.

Just know that it will be harder for you to sell it when the time comes!

Well this will be my first buy, so i will buy in trusted shop. Im buying this for my old age, around 20 years.

Then it will be better idea to buy 1oz coins or dukats? 

Thank you for all the help

 

[sixgun]

7 minutes ago, Bullionbilly said:

Weary = un-sure. Not confident.

leary

[Xander]

6 minutes ago, Bullionbilly said:

Weary = un-sure. Not confident.

Are you not thinking about wary?

[BackyardBullion]

Just now, Beekepper said:

Well this will be my first buy, so i will buy in trusted shop. Im buying this for my old age, around 20 years.

Then it will be better idea to buy 1oz coins or dukats? 

Thank you for all the help

 

Honestly, buy what you like - bar is just as good as a coin for what you want to get out of it.

3 minutes ago, Bullionbilly said:

The truth is anything can be faked ! Buy from trusted sellers amd hopefully you'll be ok. On the other hand, someone buying privately from you in the future is in the same predicament as you, is it fake... is it not ? 

Whilst anything can be faked you often find that the bars get faked more. 

I guess it is that more people know more about coins and can therefore can spot fakes more easily.

Bars - not as many people know much about them.

 

[BackyardBullion]

1 minute ago, Xander said:

Are you not thinking about wary?

My spelling might not be great...

[Bullionbilly]

2 minutes ago, Xander said:

Are you not thinking about wary?

Was quoting the origional spelling in the thread 

[Xander]

1 minute ago, BackyardBullion said:

My spelling might not be great...

Your bars make up for it.

[BackyardBullion]

Just now, Xander said:

Your bars make up for it.

?

[Bullionbilly]

2 minutes ago, BackyardBullion said:

Honestly, buy what you like - bar is just as good as a coin for what you want to get out of it.

Whilst anything can be faked you often find that the bars get faked more. 

I guess it is that more people know more about coins and can therefore can spot fakes more easily.

Bars - not as many people know much about them.

 

If i were a copy cat, id forge bars not coins as you say less people know about them and they appear easier to copy even to me. 

[kimchi]

3 minutes ago, Bullionbilly said:

If i were a copy cat, id forge bars not coins as you say less people know about them and they appear easier to copy even to me. 

I'm still perfecting my forged BYB bars as we speak.

The problem is fully rinsing the chocolate bits off the KitKat wrappers, but I think I have an idea