If you want to buy gold in small amounts but Karatbars doesn’t make you happy, there is plenty of other places to check out.
If you’ve been following the stuff I write on this blog, you may remember a post where I talked about companies that carry gold in small weights. Can’t recall? See it here. In that post I’ve only included those companies that are LBMA accredited, have been around for a while and with an established reputation. In total, excluding Karatbars, there are seven of them that fit these criteria: UBS, Credit Suisse, PAMP Suisse, Valcambi Suisse, Argor Heraeus, Austrian Mint and Heraeus. Each is at least 40 years old. Plus, all are European and majority is Swiss. Two of them are banks and five are gold refineries. With the exception of UBS and Credit Suisse, photos of gold bars are available on their websites. Click on company names above to see how their small gold bars look like.
The thing is, only Austrian Mint sells its gold bars directly from its website. Others don’t. On the other hand, all companies are widespread and you can find their bars in a catalogue of many online gold dealers. For example, to mention just a few: APMEX, BGASC, Money Metals Exchange. And there is one dealer that sells gold bars of all seven – Suisse Gold.
Suisse gold.com is online bullion dealer and belongs to CC Wealth Limited, a financial company based out of United Kingdom. Similar to Karatbars, they ship worldwide via FedEx, offer storage and guarantee to buy gold back. Storage in their vaults is free for the first year. They have four vaults which are located in Zurich, London, Hong Kong and Unites States. As for selling gold back, considering that gold has been stored in their vaults, they guarantee to buy it at a spot price.
What is a spot price?
Okay, what is a spot price? Moreover, what is gold spot price?
Go to good old google and type in “gold price per gram”, the first price that comes up is gold spot price. For example, according to Goldprice.org, right at this moment, a spot price for 1 gram of gold with 999 purity is 43.03 US dollars. In contrast, if you go to a website of some gold bullion dealer, their price per gram is a retail price, which is always above a spot price. Gold spot price is a market price and is used only to trade gold on the markets. It’s something that professional speculators who bet on the future price of gold are interested in. However, it has nothing to do with those people who want to get their hands on physical metal. So, as a consumer, you can’t buy gold at a spot price BUT you can sell it at a spot price. That’s exactly what Suisse Gold offers – the company will buy your gold back at a spot price!
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