Gold & Silver Bullion

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htsteinke
Posts: 17
Joined: Fri Dec 31, 2010 6:31 am

Gold & Silver Bullion

Post by htsteinke »

Need advice on where to buy bullion (i.e. coins, bars, etc...)? I have researched a lot of online sites but would like to know your opinions. Most seem to charge a premium on top of the price/ounce. Any advice is much appreciated. Thanks.

skiehawk11
Posts: 2116
Joined: Wed Jan 05, 2011 2:32 pm

Re: Gold & Silver Bullion

Post by skiehawk11 »

Whenever buying bullion you want to see who offers the lowest spread (i.e. - gold selling price - gold spot price). You will need to factor in shipping costs as well.

Check this place out: http://www.coloradogold.com/how_to_purchase.php

From what I can tell they buy gold for you in their name. I think it's supposed to make Big Brother harder to track how much gold/silver you are buying/selling. Not sure. Decent prices though.

Or: http://www.apmex.com/category/1158/1-oz-gold-bars-only

demon
Posts: 29
Joined: Thu Aug 30, 2012 5:13 pm

Re: Gold & Silver Bullion

Post by demon »

silvertowne.com

htsteinke
Posts: 17
Joined: Fri Dec 31, 2010 6:31 am

Re: Gold & Silver Bullion

Post by htsteinke »

Thank you for the information.

crondanet5
Posts: 4330
Joined: Tue Aug 19, 2008 8:51 pm

Re: Gold & Silver Bullion

Post by crondanet5 »

My projection is for gold to drop another $200 before it reaches the bottom of this cycle. A good website to follow gold is jessesamericancafe.com. He is very concerned about false quantities and prices. If you still feel it is important to put money in gold I recommend the ETF GLD as they buy physical gold when someone buys shares (at least they say they do, but these days I don't see how they can keep up with the exchanges that occur daily). But the real problem with gold is the difficulty in finding a buyer for it. Maybe you should start by buying the cheapest gold coin you can get and then try buying something with it. If nobody takes it you have an asset that appears desirable but not transferrable. And if you buy it for ten dollars but after commission and fees you reap five dollars that sounds like you should look for something else to invest in. I sort of like Baron Growth Fund as a place to put extra money.

dcramer29
Posts: 327
Joined: Thu Jan 12, 2012 10:56 am

Re: Gold & Silver Bullion

Post by dcramer29 »

There is a HUGE war right now regarding gold bugs and gold haters.

The bugs will tell you that gold will eventually appreciate...since gold has had 5000 years of historical value as a currency. They also argue that quantative easing and it's devaluation of different currency will cause gold to explode in value.

The haters like warren buffet will tell u that gold is worthless. That gold serves no industrial purpose other than to make jewelery.

I'm neither...but I do have a lean toward the bugs.

Gold is down from near 2000 an ounce...to 1,200 an ounce.

The gold miners have been hit tremendously hard.

I'm building up a stash in the miners for the long term...as these stocks are quite leveraged with gold.

Take a look at AGI, PPP, NG, EGO, and IAG.

If u want to invest in something crazy...look at the miner etf NUGT. This baby is a miner bull leveraged times 3. It's really cheap right now...but if gold continues to fall...the NUGT will kill you. If gold goes up...it will make u a fortune.

bdb
Posts: 28
Joined: Thu Nov 04, 2010 8:43 pm

Re: Gold & Silver Bullion

Post by bdb »

If you want to buy physical gold/silver bullion I would recommend purchasing from the U.S Mint...its 100% legit. When it comes to precious metal investing you are better off with silver then gold because of its industrial useage as well as inflation hedge.
Inflation is expected to stay low, therefore gold is not the place to be...imo.

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aev
Posts: 37
Joined: Tue Dec 21, 2010 8:43 am

Re: Gold & Silver Bullion

Post by aev »

Or, Find a dealer listed on the mint web site and buy UNC coins from them. Cheaper then the selection on the mint site.
Build a rep with dealers on the online forums. Always a good place to buy from. Just start slow and you will get there.

Also, HOLD what you buy and as you learn you will get better at finding deals.
changed to 84373 from trying to follow 85660

tomhart
Posts: 4
Joined: Wed Jan 06, 2010 4:19 pm

Re: Gold & Silver Bullion

Post by tomhart »

Find a local coin dealer and forget buying online. Make sure that they have been in the community for a number of years.

WxMan0523
Posts: 77
Joined: Sat May 26, 2012 11:31 am

Re: Gold & Silver Bullion

Post by WxMan0523 »

dcramer29 wrote:There is a HUGE war right now regarding gold bugs and gold haters.

The bugs will tell you that gold will eventually appreciate...since gold has had 5000 years of historical value as a currency. They also argue that quantative easing and it's devaluation of different currency will cause gold to explode in value.

The haters like warren buffet will tell u that gold is worthless. That gold serves no industrial purpose other than to make jewelery.

I'm neither...but I do have a lean toward the bugs.

Gold is down from near 2000 an ounce...to 1,200 an ounce.

The gold miners have been hit tremendously hard.

I'm building up a stash in the miners for the long term...as these stocks are quite leveraged with gold.

Take a look at AGI, PPP, NG, EGO, and IAG.

If u want to invest in something crazy...look at the miner etf NUGT. This baby is a miner bull leveraged times 3. It's really cheap right now...but if gold continues to fall...the NUGT will kill you. If gold goes up...it will make u a fortune.


Yikes, an inverse NUGT would have raked one a fortune. Reminds me of watching TPIR Cliff Hanger when the guy goes over the edge. Yodelay hee hoo!

talan150
Posts: 9
Joined: Thu May 03, 2012 2:45 pm

Re: Gold & Silver Bullion

Post by talan150 »

I go between https://www.wholesalecoinsdirect.com/ (charges shipping but has lower prices) and http://www.moderncoinmart.com/ (no shipping but higher prices). I have been buying Silver Bullion here and there for a couple of years now. If you buy a few 10 Oz bars here and there then it isn't tracked by anyone and I figure that would be a good way to leave something for my kids without paying taxes. I also figure that it will increase in value if i hold it until I pass away..... many many years from now... Healthy and Fifty!!

sunshine
Posts: 1
Joined: Thu Oct 28, 2010 7:34 pm

Re: Gold & Silver Bullion

Post by sunshine »

I have used Gainsvillecoins.com and JM bullion.com several times, always satisfied with their service and great prices online. Also consider Silver rounds & bars vs legal currency coins. much cheaper since you are only buying it for the silver value, not coin value.
Last edited by sunshine on Tue Dec 17, 2013 5:29 pm, edited 1 time in total.

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Winner
Posts: 621
Joined: Wed Jan 06, 2010 10:40 am

Re: Gold & Silver Bullion

Post by Winner »

dcramer29 wrote:There is a HUGE war right now regarding gold bugs and gold haters.

The bugs will tell you that gold will eventually appreciate...since gold has had 5000 years of historical value as a currency. They also argue that quantative easing and it's devaluation of different currency will cause gold to explode in value.

The haters like warren buffet will tell u that gold is worthless. That gold serves no industrial purpose other than to make jewelery.

I'm neither...but I do have a lean toward the bugs.

Gold is down from near 2000 an ounce...to 1,200 an ounce.

The gold miners have been hit tremendously hard.

I'm building up a stash in the miners for the long term...as these stocks are quite leveraged with gold.

Take a look at AGI, PPP, NG, EGO, and IAG.

If u want to invest in something crazy...look at the miner etf NUGT. This baby is a miner bull leveraged times 3. It's really cheap right now...but if gold continues to fall...the NUGT will kill you. If gold goes up...it will make u a fortune.

I trade options with NUGT and the 3X bear miner is DUST. Although NUGT is currently trading around $28 near the lowest price for the year, I noticed it move north around July to September and that back in Aug it increase from $50 to over $100 within 7 trading days. For DUST look like $51 area is current resistance. But at this time I will not buy NUGT yet and for options I will sell CALL and buy PUT.
“A brave man knows the circumstances and consequences of what he may encounter ahead…..but moves forward anyway.”

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RGEN
Posts: 228
Joined: Sun Jan 27, 2013 12:12 am

Re: Gold & Silver Bullion

Post by RGEN »

My thoughts go away from rounds & bars toward gov issued coins. Whenever you sell bulk sliver the buyer is going to want to core the bar and test it for silver content, a cost they would want you to pay for. Bulk metal would almost be impossible to use as currency or emergency barter. Coins on the other hand have a known metal content and, because of counterfeiting enforcement, a much higher level of confidence for use in exchange. Their use in history tells the story. The coin’s premium above the melt value may be worth it.

Additionally, the coin’s value will never drop below its face value. Maybe the 40% half dollar is the best deal.
RGEN

isalihi
Posts: 12
Joined: Sun May 15, 2016 1:29 pm

Re: Gold & Silver Bullion

Post by isalihi »

Are you transferring funds from your TSP? Are you planning on doing a Gold IRA rollover?

http://www.fiatflush.com/tsp-gold-ira/

There's an excellent 15 page PDF report on that link with more info...

You want to find a gold dealer that has an
~ A+ Rating with the Better Business Bureau
~AAA Rating with the Business Consumer Alliance
~ HUNDREDS of 5 Star Reviews on TrustLink
~ LOW Fees

If opening a precious metals IRA - you want

~zero $$$ set-up fees
~Segregated vault storage - NOT commingled
~FLAT storage fees -NOT scalable fees that increase as the value of your account increases

You want to do your homework because there are some shady gold dealers out there. Avoid pushy salesmen, "fancy bullion," the bait & switch with rare coins instead of bullion, the home storage gold IRA and more. See video below.

http://www.thegoldconspiracy.co/a/2365

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