About buying gold coins —- Let us say that the price of gold is $600.00 an oz. If I bought one one oz gold ?
coin from where ever— a bank, or the government or a dealer, how much “commission” would be added? Would the one oz gold coin cost me $610.00 or what?
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Buy gold bars not coins. The coin would cost you whatever a coin dealer wants to charge you and not necessarily it’s market value.
Alright if the base price is $600 then taxes these days in general are 20% of the base price which would be about $630-$650
20% would be something like 120 dollars, but when the price was at 600 an ounce i’m sure you could get it with shipping under 650
Ok,
So I ve bought a Gold Austrian Philharmonic Coin. The price for gold that day was about 588 Euros (in Austria). They charged me 618 Euros.
That’s about a 5% premium.
However, I ve known of other banks that sell it a higher price (to rip the people OFF).
I called the Austrian mint at that same moment before buying that gold coin and they told me that they will charge me 620 Euro.
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