Pricing of Gold Bullion

In the United States, gold bullion coins are given their price during business day using the COMEX in New York as a price basis. COMEX is the head exchange for gold futures and options in the United States. Open outcry is what sets Prices on the floor of the exchange. Afterwards those prices are electronically recorded and relayed around the world via many quoting services and the internet. During the trading day, the price changes all the time. Dealers base their pricing on the after-hours ACCESS market price, which also fluctuates constantly after the close. The ACCESS market is an electronic continuation of the COMEX floor trading. Some dealers will permit their clients to lock in prices by phone calls, but this usually must be that you have an established relationship with the broker or dealer. Some firms will take a credit card number to make sure that you follow through on the locked-in price. In lieu of locking in over the telephone, your dealer will need that good funds be certain – by cashier’s check or wire – before your purchase price is set. dealers will either contact you or execute your order before locking in your price, depending upon what you desire, once they receive your funds. Differences between the amount you send and your actual price are then paid by check before they are actually delivered.

Bullion coins can be found at brokerage firms, coin dealers, gold bullion firms, and banks. In the United States, Brokerage firms have never been major participants in the gold bullion coin market. Mostly because they have found it hard to compete price-wise with those who specialize in gold. Banks have greatly withdrawn from this market, due to the fact that it is difficult to make the two-way market that investors need. Few of the large Wall Street banks still offer these services.