Gold's spot price refers to the current market value per ounce. The premium on 1 oz gold reflects the cost above spot price, including minting, distribution, and dealer markup. Buying 1 oz gold coins at spot price is rare, but auctions may offer such deals. The Chinese Panda 1 oz gold coin, a popular bullion choice, often starts bidding at or near spot price. Buying gold coins from reputable dealers ensures authenticity and value.