Anybody know a good safe place (or dealer) where I could buy some at a fair price. I think they'll be a good investment in years to come.
Thanks,
kneifl
Thanks,
kneifl
Gold bars
- Thread starter kneifl
- Start date
Jon Don't know answer but sure someone will reply--
When they do would like to know their thoughts on how and where you would sell it after taking physical possession and if there is premium to dealer on both transaction.
I have some silver bars that I have had since Hunt brothers ordeal bout 20 years ago and don't have a clue who I would take them to- to sell or if they would pay going price.
I know Kirk has some positions in gold--I'm sure he'll have some advice.
When they do would like to know their thoughts on how and where you would sell it after taking physical possession and if there is premium to dealer on both transaction.
I have some silver bars that I have had since Hunt brothers ordeal bout 20 years ago and don't have a clue who I would take them to- to sell or if they would pay going price.
I know Kirk has some positions in gold--I'm sure he'll have some advice.
I would reccomend buying 1 oz. Gold American Eagle coins. I bought some last winter and was told by the coin dealer that they would be the easiest to sell when it came time, plus they are what people want and are easier to transport. I had to pay $75 over spot beings the demand was so high. Not sure if it is that way right now.
As far as getting them at a fair price, you might as well plan on paying spot + unless you find somebody who has no clue what gold is worth. Check out Ebay if you wanna see what the going rate is. Might not have to pay a premium there, as you would w/ a dealer.
DTB, call a local coin dealer and I'm sure they can steer you in the right direction, or might even buy the silver bars themselves. I bought a 100 oz.er when I bought my gold coins in the $12/oz range, so so far it has been good to me.
Good Luck
As far as getting them at a fair price, you might as well plan on paying spot + unless you find somebody who has no clue what gold is worth. Check out Ebay if you wanna see what the going rate is. Might not have to pay a premium there, as you would w/ a dealer.
DTB, call a local coin dealer and I'm sure they can steer you in the right direction, or might even buy the silver bars themselves. I bought a 100 oz.er when I bought my gold coins in the $12/oz range, so so far it has been good to me.
Good Luck
though I have some precious metals in the forms of coins and bars...mainly coins, it is in general a poor investment. though may be worth having some...
the premiums are very high for small collections...ie. checked out a local coin dealer he is paying 12 oz of silver. may be out of date. but...
one of the longest and biggest precious metals (companies) that buy and sell, gold and silver to retail is scotiamocatta
http://www.scotiamocatta.com
now they operate worldwide, however in the US, believe it is on a wholesale level.
ie. if you have 50,000 -500,000 of the metal they will talk to you, not sure.
still the site is great for info on the different types, bars, coins, certificates, and the lowest premium on what type of products. also has research on precious metals, onlong with some weekly and monthly trading info.
Since they are owned by Scotia bank, if you live in Canada, you just have to open a regular account and make an order, can be for a very small amount.
this is the way I plan to buy my gold a silver in the future or some of them.
thanks
selkirk
the premiums are very high for small collections...ie. checked out a local coin dealer he is paying 12 oz of silver. may be out of date. but...
one of the longest and biggest precious metals (companies) that buy and sell, gold and silver to retail is scotiamocatta
http://www.scotiamocatta.com
now they operate worldwide, however in the US, believe it is on a wholesale level.
ie. if you have 50,000 -500,000 of the metal they will talk to you, not sure.
still the site is great for info on the different types, bars, coins, certificates, and the lowest premium on what type of products. also has research on precious metals, onlong with some weekly and monthly trading info.
Since they are owned by Scotia bank, if you live in Canada, you just have to open a regular account and make an order, can be for a very small amount.
this is the way I plan to buy my gold a silver in the future or some of them.
thanks
selkirk
agree with Captain Crunch on US gold coins, there is a premium but it always will be, and they will move up or down on Gold.
also Ebay is great for building a small amount. now I have only bought 8 items off ebay in 5 years, and do not check out the site for months at a time but sometimes they offer value.
bought a large amount of jefferson nickels and rosevelt dimes ceritified (very high grade), when you buy these collections you are cheap..
also bought 150 silver cdn. dollars. noticed someone always sold lots of 10 every week. 1985 silver dollars proof cdn. in the US.
anyways in one auction loss at the last minute, that happens often, anyways the seller who I contacted before about shipping...told me I could buy off him in lots of 25 at $5 per coin. since silver was $5-$6 ounce this was a great price. they catalog for $15-20. in proof.
and was buying them for the silver.
anyways he was selling them for his grandfather, who passed away and his grandmother wanted them out of the house, he almost had a whole room.
only ordered 100 and they came, all good, now this could have been a scam however he had a good rating though not a frequent seller....
by the way you may also want to look at gold stocks, and etf that follow the group.
by the way if growth is higher than expected ie. 3-4% instead of 1-2% to flat which is what I expect.
palladium is going to fly, fly, fly, goooooo higher....
vey volatile. roller coaster
notice the past two weeks, gold stocks have risen sharply my biggest gold holding is yri Yamana and it is close to 12 cnd. 11.45 cdn. 4.29 low
also trades in the US similar price.
anyways I write options against the position, the premiums are so high, since nov. have sold 3 calls, for around 1- 1.50 each. will try to sell another one to nov. currently have a sept. 12. cdn. so will be close.
avg. cost 8-9, if I waited 30 days could have had it for 5 great market timing.
anyways yri has many faults and though one of my biggest positions, would not be a top gold pick anymore since management has done some dumb moves.... also none of their mines, are great...
however even marginal med cost producer like yri, will fly higher if gold busts out.
so look at gold stocks, the space is small and if market chases you can get a big pop quickly.
thanks
selkirk
also Ebay is great for building a small amount. now I have only bought 8 items off ebay in 5 years, and do not check out the site for months at a time but sometimes they offer value.
bought a large amount of jefferson nickels and rosevelt dimes ceritified (very high grade), when you buy these collections you are cheap..
also bought 150 silver cdn. dollars. noticed someone always sold lots of 10 every week. 1985 silver dollars proof cdn. in the US.
anyways in one auction loss at the last minute, that happens often, anyways the seller who I contacted before about shipping...told me I could buy off him in lots of 25 at $5 per coin. since silver was $5-$6 ounce this was a great price. they catalog for $15-20. in proof.
and was buying them for the silver.
anyways he was selling them for his grandfather, who passed away and his grandmother wanted them out of the house, he almost had a whole room.
only ordered 100 and they came, all good, now this could have been a scam however he had a good rating though not a frequent seller....
by the way you may also want to look at gold stocks, and etf that follow the group.
by the way if growth is higher than expected ie. 3-4% instead of 1-2% to flat which is what I expect.
palladium is going to fly, fly, fly, goooooo higher....
vey volatile. roller coaster
notice the past two weeks, gold stocks have risen sharply my biggest gold holding is yri Yamana and it is close to 12 cnd. 11.45 cdn. 4.29 low
also trades in the US similar price.
anyways I write options against the position, the premiums are so high, since nov. have sold 3 calls, for around 1- 1.50 each. will try to sell another one to nov. currently have a sept. 12. cdn. so will be close.
avg. cost 8-9, if I waited 30 days could have had it for 5 great market timing.
anyways yri has many faults and though one of my biggest positions, would not be a top gold pick anymore since management has done some dumb moves.... also none of their mines, are great...
however even marginal med cost producer like yri, will fly higher if gold busts out.
so look at gold stocks, the space is small and if market chases you can get a big pop quickly.
thanks
selkirk
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Get my email from Jack. One of my best friends deals gold with his brother and he's happy to answer any of your questions or to review his website.
FWIW. Audubon Gold. Ask for Brett tell him, Woods sent you.
FWIW. Audubon Gold. Ask for Brett tell him, Woods sent you.
PowerShares ETF - GLD
PowerShares ETF - GLD
Unless you are interested in rare collectible Gold Coins as an investment, the easiest way to invest in Gold, if you have a brokerage account, is to buy a gold ETF. My favorite is Power Shares Gold Fund: Symbol GDF. Each shares represents approx. 1/10th of a n ounce and it is backed by physical gold in storage. The ETF is easy to buy and sell. you don't have to worry about storing it (or insuring it).
The downside is Uncle Obama will want you to pay any capital gains tax when you sell. With physical gold, coins or bars, there is no record of your purchases or sales.
PowerShares ETF - GLD
Unless you are interested in rare collectible Gold Coins as an investment, the easiest way to invest in Gold, if you have a brokerage account, is to buy a gold ETF. My favorite is Power Shares Gold Fund: Symbol GDF. Each shares represents approx. 1/10th of a n ounce and it is backed by physical gold in storage. The ETF is easy to buy and sell. you don't have to worry about storing it (or insuring it).
The downside is Uncle Obama will want you to pay any capital gains tax when you sell. With physical gold, coins or bars, there is no record of your purchases or sales.
Thought about that, and that's one reason I'm looking for physical gold.
Woodson, how much of a premium do you think I'd have to pay because of the deman because I don't want to pay much of a premium on it. Let me know next time you talk to your friend.
kneifl
