Should You Buy Cheap Gold Bars?

A question on this one comes up quite a Bit should you buy those cheap gold bars No I don't want to just come out and say No but as you can see from the desk here Well I don't In the two and a half years that I've Been making these videos I have shown Cheaper government-backed coins from Other mints Maple Leaves britannius Philharmonics I've shown modern series Coins some hard to get some easily Available I've shown graded coins I've Shown limited release US mint coins I've Shown pre-33 coins some of these have Broken out of graded slabs people love That I've shown old European coins I've Shown semi-numismatic coins actual Collectible coins ancient coins Fractional coins I'm sure I'm missing Some other things and then I'm showing Some basic stuff I've shown some Eagles Some buffaloes and then some random Coins as well but I've never shown gold Bars and there's no real mystery there It's just because I don't have any it's Not that I don't like them the reason That I don't buy gold bars is pretty Simple they're just a lot harder to Verify now if you have a way to verify Gold bars or bars are the preferred form Of gold bullion where you live well none Of this really applies to you but if you Live in the United States for instance And you're trying to decide if you

Should jump on those Black Friday gold Bars for spot deals Well this is for you and this comes up All the time the question of whether to Buy gold bars it's in the comments on Every video and I have answered it Offhand here several times mostly saying That my dealers simply don't like them Because I'm not here to tell you your Baby's ugly if you like gold bars great Keep at it the reasons to be careful About them though they're very specific Bars are harder to verify and they're Harder to sell and they're harder to Sell because they're harder to verify I See videos running random gold bars Through a series of tests to verify Authenticity and by the end of the video I'm still not sure if the person really Knows but usually what it comes down to Is the person using a two thousand Dollar Sigma metolytics scanner to Determine if a seventeen hundred dollar Gold bar is authentic I've never seen a Video like that where a person just Isn't sure if an American Gold Eagle is Authentic or not most of us we can tell At a glance but I'll come back to that The important part here is that most of Us just don't have a two thousand dollar Metal verifier and for those who do well It takes a lot of discount gold to Offset the price of that scanner and the Reason this is coming up more lately is

That JM Bullion has a great deal on one Ounce gold bars for spot SD has a Similar deal on 10 ounce gold bars and There are others as well and we're about To see a lot more of them because Black Friday is coming in a lot of the online Dealers are going to have that kind of Deal I can't guarantee anybody else's Products for them but I wouldn't Personally be concerned about the Authenticity of a gold bar from one of Those big online dealers if they sold Fake gold well it would torpedo their Whole business the problem comes when You try to sell that gold bar to Somebody else after you've purchased it Because you aren't JM Bullion and most Potential buyers they're going to want To test the bar in person before buying It if you're just a random seller now Some coin shops they're going to have The xrf scanners and they will be able To pretty easily tell if a bar is Authentic right there but a lot don't They have to cut the bar out of the Assay and then run an acid test and that Affects what they'll pay for them Because they're going to be turning Around and selling a loose bar with some Intentional scrapes So there's an easy answer to the Question of whether you should buy that Cheap gold bar to save a few points on Premium

It's no because if you're asking you Probably don't have a good way to verify So just buy the coins you already know Coins everybody else already know pretty Easy and then if you have your own Scanner if you never intend to sell the Bars or you live somewhere where bars Are more popular than coins well you Know what to do I did not say that I Don't buy bars because they're more Commonly faked than coins but I'll touch On that just for a minute because I do Think it's true I've seen fake gold Coins but I've never seen one that looks Authentic if you can't spot it on a Quick visual inspection it's still much Easier to check the dimensions of a coin Than it is a bar in an assay or really Any bar period because even the popular Bars like the pamp lady Fortuna bars They vary in Dimensions depending on When they were minted coins don't change Or at least if they do it's very easy to Look up and in a lot of cases there's a Lot more at risk because it's illegal to Create or sell counterfeit coins in the United States it's a felony uh some of That difficulty to verify is not the Fault of the bar itself it has a lot to Do with the assay the packaging and I Would guess the majority of fake gold Coins that make past visual inspection Are slapped not slabbed by NGC like this One or PCGS the slabs are going to be

Fake as well but back to the basic point It's just easier to buy gold coins limit Your risk or if nothing else just limit The potential hassle you have to deal With just a quick caveat I don't know if This is necessary or not but I don't Feel that way about silver I actually Think generic silver bars are the way to Go especially with premiums on American Silver eagles right now they're just Crazy but I don't have the same concerns With fake silver bars because the Potential profit for a fake silver bar Is far less than the potential profit For a fake gold bar and since I'm on Official caveats again if you buy and Sell bars you have a way to verify them You're in a good place because gold Costs a lot less for you than it does For most people than it does for me but For those who don't have scanners the Buyer's remorse that I hear about most Frequently like by a long margin is from People wishing that they hadn't bought One gold bar or another those deals Though those gold for spot Deals they Will pull you in I totally get it but I Don't think that they're worth it Personally okay so let's call it good There let us know if you buy bars you Can tell me why I'm wrong or just let us Know what you're up to and to those of You who are celebrating happy holidays I Hope you're enjoying some time off and

While you're in the comments be sure to Hit the like button if you found any of This interesting be sure you're Subscribed with notifications turned on If you'd like to see more on the topic And if you're still here Thanks again for watching I always Appreciate your time Take care [Music] Foreign