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Buying gold bullions

  • 17-07-2015 8:59pm
    #1
    12gauge dave
    Closed Accounts Posts: 2,072 ✭✭✭


    Hi was interested in buying gold bullions and keeping at home. When I decide to sell the bullions again will I lose money because they weren't kept in an official deposit bank or something of the likes?
    Where is the best place to buy physical bullions? And sell in Ireland?
    Thanks


Comments

  • #2
    marathonic
    Registered Users, Registered Users 2 Posts: 1,684 ✭✭✭marathonic


    You won't lose due to where the coins are kept but will lose due to the bid/ask spread.

    Dealers generally charge about 5% to buy and sell so, if you buy when gold is trading at the dollar equivalent of €1,000 per coin and sell when it's at the same lever, you should expect to lose about 10%.

    For this reason, they aren't recommended unless you intend to keep for at least 5 years.


  • #3
    endacl
    Registered Users, Registered Users 2 Posts: 22,412 ✭✭✭✭endacl


    I'd give this a read first though, OP...

    http://ethanvanderbuilt.com/2014/09/11/karatbars-scam-yes-it-is-in-my-opinion/


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