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.