--We've also been getting a lot of reader mail about how to buy physical gold. Good question. We'd say check the Perth Mint, but got this note recently from a reader:
I was in Perth the other day with a bit of time, and a grand burning a hole in my pocket so I headed down to the mint. I usually get the beautiful minted gold bars, just like a normal gold bar but set in a nicer Perth mint cast. None available. Any normal gold bars...none available. Oh, any 1oz Nuggets or Kangaroos? None available. Maple Leafs or Kruggers? None available. Anything at all in 1oz lots? Yep, a 1oz "lunar" gold coin celebrating the Chinese Year of the Rat! (produced by the Perth Mint)....that'll do! Thank You
--We contacted the Australia Bullion Company here in Melbourne this morning-only to find out all the jewellery stock has been melted down, the bullion sold off, and the business restructured! So retail investors can't get bullion that way.
--You might try Chris Mealin. He's the managing director at Downies Australia Coin Auctions. Downies has a retail store in the arcade at 98-100 Elizabeth Street in Melbourne. You won't find much bullion, Chris said when we spoke to him this morning. And the collectable gold coins Downies sells will typically sell at a 10-15% premium to the spot price. But if you're interested, you can reach them at (03) 8677 8800.
AVO Price at posting:
$1.29 Sentiment: Buy Disclosure: Held
