Buying gold

[ShinyParticipant 2307]

Hello lads,

I was wondering how you go about buying or investing in gold? With a collapse of the USD apparently imminent this seems a sensible time to try it but whereas buying shares, options or currency are all within my comfort zone, metals is a new one for me. Any advice?

[TattooDaveParticipant 6952]

I did very well for myself by buying gold Eagles in all the sizes one ounce half ounce quarter ounce 10th. I bought that because my safe was only so big although the best thing you can buy if you can take physical delivery and if you have the place to store it is junk silver. If you buy the 90% junk silver bags of $1,000 face value you get a pretty good deal and because it’s legal tender you don’t pay any taxes when you go to sell it. Same thing with the gold Eagles. The problem with just buying bullion or something that carries a record of your gain, it is taxable and if Hillary Clinton wins you can bet you’re going to pay a lot of taxes on that. If you’re buying it just in case the dollar collapses you may want to rethink it because if the dollar doesn’t collapse you might end up in a bad position. This is why in the United States buying gold Eagles is the best bet.

Now if you’re just wanting to trade I would trade silver in the ETF format because it’s very liquid just like a share of stock and of course if it goes skyrocketing in value you’ve got a great holding. Otherwise looked at some of the junior miners or as they say in Vancouver resource companies. This was a specialty of mine I used to be a stockbroker and I bought a lot of gold and silver back in the 1990’s when the first Clinton was running because we were just as convinced back then that the world was going to end and of course it never did. This is why I stress buying efficiently something that is not going to cost you a lot. Just remember you may have difficulty selling it if you need the money. Typically you will buy gold at the spot price plus a premium when you go to sell you get spot – a premium so there’s a pretty big spread depending on where you buy and sell. This is why you should just invest. Hopefully that didn’t just confuse you……

I can see their heads have been twisted and fed with worthless foam from the mouth. Bob d

[TuneoutParticipant]

I agree,keep some gold on hand just in case but invest

in other vehicles like stocks through a ETF or Index

Fund depending what your strategy is – Day Trader or

Buy and Hold.

Lifes a bitch,but you don't have to marry one!

[TaxGuyParticipant]

Google Doug Casey. He’s a big gold bug. Spend about an hour reading his position on why you want to own gold and you will have a far greater understanding of what you want to do.

Order the good wine

[Anonymous 24]

Considering no new laws have been created since the collapse of 08, then yes, another bubble, maybe the “bailout bubble” will hit again one day. It is not a matter of it happening or not, it is a matter of when.

If I had money, I would buy gold and silver, lots of it.

[The Laughing ManParticipant 1020]

Always make sure to buy physical. The paper stocks are oversold and if SHTF you’re unlikely to ever see that money back.

I thought what I'd do was I'd pretend I was one of those deaf-mutes...or should I?

[ShinyParticipant 2307]

Thanks for the feedback guys. I am in Oz so some of it won’t help but I am certainly looking into what was mentioned here. I found a couple of bullion dealers here in Oz so I’ll mention them for the southern brothers:

The Perth Mint

ABC Bullion

I’ll update this thread with my experiences if I can make this happen.

[Won'tGetFooledAgainParticipant 3293]

Shiny wrote:

Thanks for the feedback guys. I am in Oz so some of it won’t help but I am certainly looking into what was mentioned here. I found a couple of bullion dealers here in Oz so I’ll mention them for the southern brothers:

The Perth Mint

ABC Bullion

I’ll update this thread with my experiences if I can make this happen.

I have personally bought gold from Goldstackers in Collins Street in Melbourne and it couldn’t have been easier. My advice would be to buy 1oz bars as you are not getting good value for money if you buy less than this. You can buy Minted (nice and shiny in little sealed plastic cases with serial numbers, slightly more expensive) or cast (cast gold with just a makers stamp) it is up to you.

Go to the store, hand over your money and walk out with your nice, shiny piece of gold. Gold has a basic spot value (Minted, scrap or cast it is always the same) and you will be paying spot value plus commission ($40 to $50 AUD per ounce)

Selling couldn’t be easier, hand over your gold with some ID and you will be walking out with the spot value in cash in under 5 minutes.

Gold isn’t so much an investment as more of an insurance policy as it will always have some intrinsic value compared to cash which could essentially become worthless. With interest rates as low as they are, the government is pretty much telling you that the investment value of cash is pretty much zero.

For women, everything eventually boils down to Alpha Fucks, Beta Bucks.

[~BSParticipant 3266]

If you’re not keen on buying and storing bullion, there’s the eft route. I’d personally prefer the physical route. A lot of the efts are option & contract based, meaning they don’t actually own 1000000 physical gold bars serial #0001, 0002, etc. They own the rights to those bars, which xxx company or govt says they’ll cough up if you demand it.

Gold should be seen as a store of value moreso than an investment, although its value increases and decreases.

If you’re just starting off, I would also recommend buying from a legitimate online dealer or direct from source dealer, and not ebay or maybe even your local dealer. With gold, you need to become versed in spotting fakes, which are getting better and better. Buying directly from a good dealer reduces the chances of getting a fake almost to 0. But you will pay a slightly higher premium.

"He didn't marry until now, so he won't ever do it. Think about it, why would a man like him ever marry? It's too late to catch him. " ~some cunt

[~BSParticipant 3266]

Shiny wrote:

hanks for the feedback guys. I am in Oz so some of it won’t help but I am certainly looking into what was mentioned here. I found a couple of bullion dealers here in Oz so I’ll mention them for the southern brothers:

The Perth Mint

ABC Bullion

I’ll update this thread with my experiences if I can make this happen.

If you’re in oz, you should just buy from perth mint. As I mentioned earlier, you need to buy from them directly. Perth mint gold bars are one of the heavily faked bars, and the fakes are VERY good.

"He didn't marry until now, so he won't ever do it. Think about it, why would a man like him ever marry? It's too late to catch him. " ~some cunt

[~BSParticipant 3266]

The other good thing about gold is that once you buy it, it effectively causes the money you spent to vanish in thin air. *poof* The banks cannot track that asset, nor your broker, nor the government, nor your soon-to-be ex-wife, etc. When you decide to sell it, you can be as discreet about it as you feel necessary. Either cash and carry at a local dealer or investor or check to be deposited at a online dealer. The latter is traceable when you deposit, the former is not.

"He didn't marry until now, so he won't ever do it. Think about it, why would a man like him ever marry? It's too late to catch him. " ~some cunt

[CatsPawParticipant 423]

2 Rules:
Buy physical.
Dont tell anyone.

[Y_Participant 4591]

Hi Shiny

Gold and Silver are money – real money. Fiat currency is now in the final stages of collapse due to pure greed of the banking system. There is a financial storm coming – this will happen sometime before the end of the decade. Whatever wealth you have in cash or stocks will be hit badly for a number of reasons.

To understand gold you need to know about the fiat currency financial system, why you will keep losing in paper assets, and then decide why you personally need gold and how it works for you.

Check out Mike Maloney’s ‘Hidden Secrets of Money’ series on Youtube.
Mike Maloney has a sale site ‘GoldSilver.com’. He’s reliable.

Look up Jim Rickard’s website ‘http://dailyreckoning.com/research-reports?r=milo’. Do your research.

Gold and silver are now in very limited supply. Price is being artificially held down by COMEX but this will not last much longer. Get it while you can.

Unless you have real hard assets you need some gold and silver.

Buy physical if you want to ride out the storm – NO PAPER
Buy coins Silver or Gold eagles – easy to trade
Find a good reliable dealer – -cheap is not always good
Never store bullion in a bank – use a private firm if you have to.
Buy jewelry as a transportable means of carrying gold
Tell nobody nothing – I mean nobody.

Good luck.

[coolthingy450Participant 1223]

Mmm. Good advice.

Actions have consequences and consequences have prices. Cause and effect at work.

[Chaff/FlareParticipant 3235]

Armstrong economics. Only thing I ever plug. Read everything you guys are quoting here. There will be a time for gold. I started many years ago with gold, still have it. Whatever, do your own reaserch like you are doing, but give that site a few days, and watch the movie The Forcaster.

When you find yourself in the majority, it's time to reflect.

[ShinyParticipant 2307]

Ok, I did the deed. It was surprisingly simple, just walk in, lay down some money and walk out with some gold. They asked me to sign for it but didn’t check any ID so presumably a scribbled, “Kermit J Frog (Esq)” would have sufficed.

Note that ABC Bullion mentioned above takes cash, Perth mint does not.

[coolthingy450Participant 1223]

Anonymous wrote:

Considering no new laws have been created since the collapse of 08, then yes, another bubble, maybe the “bailout bubble” will hit again one day. It is not a matter of it happening or not, it is a matter of when.

If I had money, I would buy gold and silver, lots of it.

That’s what me and my family are doing. taking a small portion of our savings and putting it in silver bullion. I’m still trying to figure out if even buying gold in bullion is worth it. Aside from a piece of ring or something.

Actions have consequences and consequences have prices. Cause and effect at work.

[coolthingy450Participant 1223]

Y_ wrote:

Hi Shiny

Gold and Silver are money – real money. Fiat currency is now in the final stages of collapse due to pure greed of the banking system. There is a financial storm coming – this will happen sometime before the end of the decade. Whatever wealth you have in cash or stocks will be hit badly for a number of reasons.

To understand gold you need to know about the fiat currency financial system, why you will keep losing in paper assets, and then decide why you personally need gold and how it works for you.

Check out Mike Maloney’s ‘Hidden Secrets of Money’ series on Youtube.
Mike Maloney has a sale site ‘GoldSilver.com’. He’s reliable.

Look up Jim Rickard’s website ‘http://dailyreckoning.com/research-reports?r=milo’. Do your research.

Gold and silver are now in very limited supply. Price is being artificially held down by COMEX but this will not last much longer. Get it while you can.

Unless you have real hard assets you need some gold and silver.

Buy physical if you want to ride out the storm – NO PAPER
Buy coins Silver or Gold eagles – easy to trade
Find a good reliable dealer – -cheap is not always good
Never store bullion in a bank – use a private firm if you have to.
Buy jewelry as a transportable means of carrying gold
Tell nobody nothing – I mean nobody.

Good luck.

Thanks for the advice man!

Actions have consequences and consequences have prices. Cause and effect at work.

[RyshParticipant 134]

With regard to ETF – if you want to play along in the stock market casino, that’s ok. But if you want to have something that could survive a currency crash, avoid the ETF stuff.

Since the volume of “paper silver” at ETF is much higher than the sum of all silver on earth, the prices don’t actually reflect the silver price, but the price of paper silver. People tend to confuse this, and a lot of people will be in for a rough awakening.

A paper saying “I’ll deliver a piece of silver” just isn’t a piece of silver because the paper can and will default precisely under the circumstances where you want the physical metal. Paper silver is just another fiat currency.

[Won'tGetFooledAgainParticipant 3293]

Rysh wrote:

With regard to ETF – if you want to play along in the stock market casino, that’s ok. But if you want to have something that could survive a currency crash, avoid the ETF stuff.

Since the volume of “paper silver” at ETF is much higher than the sum of all silver on earth, the prices don’t actually reflect the silver price, but the price of paper silver. People tend to confuse this, and a lot of people will be in for a rough awakening.

A paper saying “I’ll deliver a piece of silver” just isn’t a piece of silver because the paper can and will default precisely under the circumstances where you want the physical metal. Paper silver is just another fiat currency.

Totally agree, I would much rather have a few OZ of gold hidden away rather than some useless pieces of paper. Physical gold is pretty much as liquid as cash, you could exchange it for money in 5 minutes if you needed to. An OZ of gold is tiny, very easy to hide around the house.

Plus it is very, very cool to just have it stashed away.

For women, everything eventually boils down to Alpha Fucks, Beta Bucks.

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