Quote from Rearden Metal:
3% spreads? N-word, please!
The entire spread between bid and offer is <b>merely 1%</b> if you know who to deal with.
http://www.tulving.com/goldbull.html
...and now you know who to deal with. You're welcome.
Everytime I mention Tulving I get hammered by somebody for some old problem they had back in the 80s with their advertisements.
I've found them reliable though I have not sold to them and my experience is with silver but you get my point.