Bullion Bars
Can we buy gold bars in the US, and if so where?
I know that in 1933 FDR stole everyone's gold and replaced it "fiat" federal reserve notes. But what I don't know is if it is legal t...
Bullion Bars
Can we buy gold bars in the US, and if so where?
I know that in 1933 FDR stole everyone's gold and replaced it "fiat" federal reserve notes. But what I don't know is if it is legal to purchase gold bars of unlimited quantity today in the US. I know you can buy and own gold bullion coins but what about bars of gold. I have heard many stories about this but I have yet to find any concrete evidence that it is legal to buy and own gold bars in unlimited quantity. I am talking about walking into a place of business putting down money and walking out with physical bars of gold. I don't think you can do that... Am I wrong?
Executive Order #6102 by Roosevelt prohibiting the ownership of gold was repealed by Congress codified in Public Law 93-373 [1] in 1974, so yes you can own gold bars.
You can buy bars in weights of 100 oz., 10 oz., 5 oz or 1 oz. You can buy coins in 1oz., 1/2 oz., 1/10 oz. etc. If I were you, I'd stick with the bars as they sell at a premium less than the coins do. For example a 1 oz. Gold American Eagle coin at Kitco costs $686.38 while a 1 oz. gold bar costs $662.60 -- $23.78 less then the coin.
There are several places you can buy them. I recommend www.kitco.com. You can also try www.monex.com.
|
|
|
Posted in Uncategorized
You can leave a response, or trackback from your own site.
US $174.51
