Why does bullion cost more than the market price?

The market price of gold is a theoretical price. The cost of bullion includes various expenses like minting, insuring, and shipping which increase its price.

How much gold is there in the world?

All the gold mined in history would fit in a cube measuring 60 feet on each side, approximately fitting beneath the Eiffel Tower.

Is gold just an obsolete form of money?

Definitely not! Central banks and private citizens regard gold as crucial for monetary reserves and fiscal insurance.

Was gold illegal to own at one time in the USA?

Yes, ownership of gold bullion was illegal in the U.S. from 1933 to 1974 without a special license which was lifted in 1975.

How should I store gold?

Gold does not tarnish or corrode, so it can be stored without special care. It's advisable to keep it in its original sealed packaging.

Do I have to pay taxes if I sell my gold for a profit?

Yes, selling gold bullion for profit incurs long-term or short-term capital gains taxes.

Do I need to report my gold purchases to the government?

No, there is no requirement to report gold ownership to any federal, state, or local government.

Why do I see a different market price online?

Market prices for gold fluctuate throughout the day, leading to different prices from various sources.

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