Quote from: TheVirus on July 01, 2011, 09:07:48 PM

Seems a bit steep considering gold is ~$1400/oz and 100 BTC is ~$1600.

Spot gold is actually $1,487 +/- at the moment of this posting. Physical bullion typically costs more than the spot market because you are buying in much smaller quantities (futures contracts are for 100 oz). The only way you get spot price is if you buy in quantity on the COMEX - and that price does not include shipping, insurance, and storage. Search any major bullion dealer on the web and you'll see the Pamp Suisse bars going for about $1,540 and then you have to factor in shipping, insurance and the convenience of using bitcoin. Hope this helps!