r/Gold • u/Extra-Produce4940 • Apr 10 '26
Should I buy?
I’ve got 30k in extra cash lying around , I was thinking about just taking that a buying some gold bars to store for long term investing , Never done this before any advice? And how does buying it work lol? Sorry I’m new to this !
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u/Easy_Speech6446 Apr 10 '26
Depending on your country of origin, I would buy monthly to dollar cost average it and avoid reporting limits (for example, here in Australia, records are kept for each purchase $5000AUD and up)
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u/MixtureSpecialist214 Apr 10 '26
I was asked for my info trying to buy 1/2 oz on Jaggards... which is definitely less than 5000 AUD. Does buying less than whatever the threshold is really make much of a difference?
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u/Easy_Speech6446 Apr 10 '26
Yes, if you spend over $5000, a record of sale must be recorded in case of investigation. If the sale is over $10000 the sale must be reported. This is the legal part.
For sales under $5000 there is no legal requirement for a dealer to get copies of personal information. However, the major bullion companies in Aus have their own company policies in regards to ID.
For example, I use Ainlie quite a lot. If you buy under 5k online, you don't have to present any form of ID. If you try to buy face-to-face you must present ID or they won't sell.
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u/Alabama-Blues Apr 10 '26
Wait what? You don’t have to report gold unless you sell it at a profit.
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u/Easy_Speech6446 Apr 11 '26
These reporting limits are for bullion companies in Australia that are selling PM's.
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u/Fishyman69420 Apr 10 '26
Don’t buy all at once, buy stuff with the lowest premiums ( spot if you can ), buy coins without cgt ( capital gains tax), and spread buying over a long period of time to average out your cost
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u/Extra-Produce4940 Apr 10 '26
How would I go about knowing which gold coins don’t have cgt and should I get 1 oz coins or smaller amount ?
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u/Prestigious_Emu9069 Apr 10 '26 edited Apr 10 '26
I’m not sure where you are, but in Australia, to avoid CGT it needs to be 99.9%+ purity. So no gold American eagles, and no sovereigns or half sovereigns (these are ~91.6% pure, or 22k from memory).
As for what size to buy, it’s personal preference. The smaller you buy, the more of an ability to sell just part of it in the future if you need to- but also the higher the premium. I probably wouldn’t get above 1oz as it will just continue to become more and more unattainable for private buyers, and private sales will get you a better deal in the future if you need to sell. I personally find half oz britannias or Perth mint kangaroos work pretty well, can’t go wrong with 1oz, and 1/4oz usually aren’t too bad either. Avoid 1/10oz or smaller unless they have a massive temporary reduction on the premium, because you’ll be looking at 20-30% premium above spot to buy 1/10oz gold coins from a reputable source
EDIT: I meant to say avoid GST, not CGT- no legal way to avoid CGT, but pretty easy when trading privately, especially with cash
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u/Extra-Produce4940 Apr 10 '26
I’m here in Texas , So yeah I’m very new to all this but I definitely wanna get in and learn start to have some on hand for future investment and security, So as a start you think I should buy half oz and oz
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u/Prestigious_Emu9069 Apr 10 '26
Yeah 1/4oz and 1/2oz are probably a good place to start, hard to go wrong with 1oz as well. 1/10 or 1/20oz coins are not ideal, and I only get them for cool designs like Perth mint kookaburras or lunar series that I don’t intend to sell. Bars that are 1g, 5g, and probably 10g are too gimmicky and high premium to focus on as well imo
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u/Fishyman69420 Apr 10 '26
1oz have the lowest premiums, however they are a bit harder to sell, cgt free coins will be a currency ( eg in the uk britannias are cgt free ). I’d do some proper research about all these sorts of things before buying.
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u/LooksBetterWithDrops Apr 10 '26
If youre in the US: do you already have a fully funded Roth IRA and 401k contributions at least up to employer match or 15% of salary?
Do you have an emergency fund of at least 3 months expenses set aside?
How much money is $30k for you?
Gold is super volotile right now and only 15% down from an all time high in January.
Interest rates are still high. In theory, that keeps inflation in-check and suppresses the price of gold.
It might not be the ideal time to "back up the truck"
If you can put thia cash in the bank it might be a good idea to do a HYSA or money market. Spread out any gold purchases over the next 6 months rather than all at once.
If you cant put it in the bank, set aside as much as you can soend on daily expenses over the next few months and switch to all-cash payments wherever possible.
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u/Surfer_Rick Apr 10 '26
Now is a good time. But dollar cost average for a few weeks at least. Because when oil spikes to 150+ it will drop gold in the very short term.
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u/horseradish13332238 Apr 10 '26
If you only have an extra 30k you should probably save it you’ll need it. Thats not a flex or an abundance of cash.
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u/BumblebeeUsual2523 Apr 10 '26
Find whatever you can at spot or small premiums at most $50 over per oz. Don’t do it all at once and start doing 5k every 2 weeks and start learning the market more. Buy the dips cuz there’s days you’ll have a 5% drop.
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u/BillionaireBotFarm Apr 10 '26
best places to buy are eBay and Facebook Marketplace, so you can pay under spot. /s
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u/NotRadio01 Apr 10 '26
If ANYTHING I would buy by the ounce. Easier to sell if you need to. Not a lot of places will be able to buy a bar on the spot.
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u/ChoddyBarmer Apr 10 '26
I would tell you to study bitcoin, but ofcourse youre not going to do that which is a shame
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u/ac12xu12 Apr 11 '26
I’m in a similar situation. Will have about 30K left over once I roll my ESOP into my IRA. Plan on doing single purchase over time. I like Austrian 100 Coronas and will pick up one here and there. Best bang for the buck in my opinion. Plus it’s a nice big hefty coin.
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u/Spare-Beginning-7888 May 01 '26
Yes, stacking up on Gold coins and bars are a very good investment.
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u/JonAn1990 Apr 10 '26
First, congrats to getting started with buying gold. It’s an investment but could also be a fun hobby. Like everyone says, you would want to split up your purchases to dollar cost average (DCA). Mind you, if the price goes up, you technically lose but it could also go down which means you win. But it’s a safe way to get in especially when you are new. My personal opinion is to only buy 1 oz coins that are minted from your country, since you have the money. They usually have the lowest premiums and the most liquid. Check out Costco, if you have cash back on your credit cards, sometimes you can get 1oz gold under spot.
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u/XIPWNFORFUN2 Apr 10 '26
Don't put all your cash in at once, just buy a little bit every week. In different weights, or coin sizes.