Friday, March 13, 2009

1/10 OZ Gold Maple Leaf

With the gold price dipping below $900 per oz. on March 10 and 11 this week, I saw a buying opportunity and made sure to put some money into e-gold and buy some physical bullion. But not wanting to overextend myself and run out of cash, I bought a small denomination of bullion, just a 1/10 oz Canadian Maple Leaf coin. 1/10 ounce of gold equals 3.11034768 grams of gold.

I bought this coin at Ginza Tanaka, the retail store of Tanaka Precious Metals which sells precious jewelry and bullion, mostly gold and platinum. They normally sell Platinum American Eagle coins and Platinum Maple Leaf coins but they were sold out, which seems to be happening across Japan. There was a notice on Tanaka Precious Metal's website stating that Platinum investment demand has exploded recently and that mints around the world are struggling to keep up with the demand. They also state that while they are happy to continue buying and selling platinum, the specific products they offer may be limited. If you can read Japanese, have a look at the Tanaka Precious Metals website.

I had planned to buy a platinum coin yesterday because the platinum prices are low but starting to rise again. But I really wanted a coin, and all they had were bars. So I stuck with gold. Have a look at my purchase in the video.

No comments: