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Minyan Mailbag - More Physical Gold Buying

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Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.

Laurie,

I have a question about the best way to buy physical gold... I currently buy 1 oz. American Gold Eagles from Apmex.com every month. I notice that the gold is .91xxx% pure. Is there a better vehicle for physical? Should I be buying gold bars perhaps or something that is .9999%? And have gold mining shares Kinross Gold (KGC:NYSE) and Newmont Mining (NEM:NYSE) since 2002 that I add to as well. 50% mining shares/ 50% physical. Not asking for advice, just trying to understand how physical works. Thanks mate!

Minyan Matt

Hi Matt,

I don't buy coins, numismatics mean nothing to me, I just want as much GOLD as close to 100% pure content as possible. I don't want any fabrication costs that apply to coins and jewelry. I believe the Aussie and Canada coins are best but do your own checking on purity and weight. Krugs are 95% I think. Gold Eagles I don't know too much about but check www.kitco.com as they have all the coin specs. Other Minyans have suggested www.amark.com and www.golddealer.com . I cannot vouch for any supplier and have nothing to do with any of these people so do your own DD.

I only buy .9999 bars and see this as the best physical vehicle, IMO. Bar size is from 1/10 ounce to 400 ounces. Globally recognized refinery stamp should be on it as well as its purity. You want as much weight, as pure as you can get for as few pieces of paper as possible.. Finished. It doesn't matter what vehicle it comes in, teeth will do me as long as I can prove the weight and purity.

Can't fault the shares you own. I own them both personally and professionally.

Opinion only, never advice.

Cheers

Laurie.

position in gold, kgc, nem

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