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So, you're into collecting gold bullion coins. A gold coin dealer says you have to pay the spot price. Does that mean on the spot? Are you being pressured into buying gold bullion coins? Not likely.
The spot price is the price for spot delivery which in the gold market is two days from the trade date or value date (the date you buy the gold coin). That's probably as clear as a gold coin that's been cleaned. How about this: The spot price is the immediate settlement price. A delayed spot price means you pay a deposit of perhaps $30.
If you're using an online dealer or ordering by phone, you call the dealer for the balance. Since gold prices fluctuate, some dealers won't quote you a full price in the catalog or online. Many dealers quote prices in real-time. Remember that dealers multipy gold prices by the troy ounce of the gold coin to arrive at gold coin values.
The actual price you'll pay, above the value if the dealer wants to make a profit, is, for example, the gold spot price divided by 4 + $12.00. The prices vary because the price of gold varies, while the blue book gold coin values may be fixed.
Just know that your dealer isn't trying to pressure you. If you feel put on the spot, ask to see the spot value of gold that day, which determines how much the coin is worth. Better yet, download a real-time updated chair to your PDA or Blackberry.
So if you can afford the trade, go ahead, buy that American Gold Eagle on the spot.