Re: I just cashed out my lot of Bitcoins for Gold. Here's why.
what's the cost to sell a gold coin? I know the dealer spread is disgusting
Where I am I can do that at any bank. That's pretty much the only reason to own gold for me. Spreads are around 10%, 6 for full ounces I think.
i have an online broker who trades gold with a spread of 1.5 usd
buying physical gold ounces at the corner store is for begginers
Buying precious metal where you can't physically touch it means you do not really own it. It's like the US government has never taken gold away from the population during unstable economic conditions...
in the investing enviroment of gold, NYSE new york stock exchange with brokers where big amounts of commodities are traded is safe and have small spread.
i dont want to believe you are thinking the investors are moving tons of gold and silver from one place to another during all the day, are you?
If you want to spend some usd in gold and keep them for at least a year its ok buy phyisical gold ounces, but if you are a day trader you have to move in another level