How to Buy Gold Biscuits

How to Buy Gold Biscuits
Small, flat bars of stamped gold are often referred to as gold biscuits.

Study the precious metals market. Even though the price of gold varies minute-by-minute during the trading day, a thorough understanding of the gold market may help you develop a feel for when gold prices are depressed and when prices are at their peak.

Contact several gold dealers in your area and on line. Ask for their price-per-ounce for gold biscuits. Get price quotes based on a premium you will have to pay over the spot price of gold. The spot price is the price currently being offered on the gold commodity market (the Comex). The premium you will have to pay represents the dealer's profit on the transaction and will vary from dealer to dealer.

Add in the cost of shipping and insurance when getting quotes from on line sources. Such costs usually make it cheaper to buy locally.

Advertise that you wish to buy gold biscuits from individuals. Advertise a price you are willing to pay based on the spot price of gold and based on the purity of the gold biscuits you are purchasing (the purity of the gold will be stamped on the biscuit). Never meet a potential gold seller at your home. Always meet in the lobby of a bank or at a coin dealer's showroom.

Have the necessary cash or a credit card. Most gold transactions require cash or a credit card. Even certified and cashier's checks are no longer accepted for most transactions because they are easily forged.