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Questions on the best way of buying Gold and Silver (Vanity)

Posted on 04/21/2010 10:00:36 AM PDT by BerserkPatriot

Okay, now since everyone has stocked up on their favorite ammo & guns (You can tell this by the fact that ammo actually stays on store shelfs for more than 10 minutes)

And now that everyone has hopefully stocked on food, water and other essentials (Non-hybrid seeds, etc)

The next step is acquiring some precious metal assets, the purpose of this vanity is to ask everyone the best ways to do this.

Where are the better places to buy these assets?

With a Large National firm or a local retail outlet?

How much should I buy of Gold and Silver?

Bullion or coins?


TOPICS: Chit/Chat
KEYWORDS: crash; economy; gold; prep; preparedness; shtf; survival; vanity
Note: I do need to go out and buy More guns – my misfortune was that whilst crossing Puget sound, my gun safe inadvertently fell out of my pickup on the ferry – taking most of my guns and a lot of my ammo.

So it's back to square one for me.

1 posted on 04/21/2010 10:00:36 AM PDT by BerserkPatriot
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To: BerserkPatriot

I’m in for the recommendations.


2 posted on 04/21/2010 10:04:28 AM PDT by Loud Mime (initialpoints.net - - The Constitution as the center of politics -- Download the graph)
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To: BerserkPatriot

Personally, I always look to Wal-Mart parking lots for all my precious metal buying needs.

http://www.freerepublic.com/focus/f-news/2497020/posts

SnakeDoc


3 posted on 04/21/2010 10:05:11 AM PDT by SnakeDoctor ("The world will know that free men stood against a tyrant [...] that even a god-king can bleed.")
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To: BerserkPatriot

A little something I picked up a long time ago. When everyone is buying, sell. When everyone is selling, buy.

Also beware Gold plated tungsten.


4 posted on 04/21/2010 10:05:36 AM PDT by LeGrande (Yes, I am an agent of Satan, but my duties are largely ceremonial.)
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To: BerserkPatriot

There are several mints on the internet where you can buy bullion in coin or bar form. Ebay is also a good place (if you are the winning bidder). Most of the gold and silver on eBay that sells at a “Buy it now” price is over priced.

The mints on the internet usually charge $0.79 to $2.99 over the current spot price of either gold or silver. Sometmes, if you create a userid on their sites, they will also send you emails when they have something on sale.

I watch the spot prices continually and only buy when I sell a good size fall in the price, since the precious metals market can fluctuate by good sized amounts on any given day.

Hope that helps...


5 posted on 04/21/2010 10:07:44 AM PDT by illiac (If we don't change directions soon, we'll get where we're going)
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To: illiac

sell = see


6 posted on 04/21/2010 10:08:34 AM PDT by illiac (If we don't change directions soon, we'll get where we're going)
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To: BerserkPatriot
I was just thinking the same thing. Better get out of that house of cards I'm in.
7 posted on 04/21/2010 10:09:54 AM PDT by McGruff (So how is that Hopey Changey thingy working out for ya America?)
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To: BerserkPatriot

http://inflation.us/reviews/

also www.tulving.com

assume $40 over spot for American Eagles 1 oz, depending on how many you are buying.


8 posted on 04/21/2010 10:12:24 AM PDT by cowtowney
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To: BerserkPatriot

I’m an avid coin collector, and would say buying at a coin show from a reputable dealer US Eagles and Can Maples is your best bet. Always try for a better deal, the dealer paid above spot for the coins so you will pay more per ounce but it isn’t bad. I think a roll of Silver Eagles was $400 last time I checked about a month ago. Gold...Well, Nobody can buy much at these prices, but you can try for 1/10 oz. and 1/4 oz. coins, but they go fast. Also try picking up some Peace and Morgan silver dollars. They are easy to come by, and usually aren’t too expensive.

I also wouldn’t waste my time on slabbed and graded coins unless you are a collector. They look awesome, but you pay a premium and the price of the grading is added on to the top. You won’t get a return if TSHTF.

Small size Silver coins are also good choices, they sell $1000 face bulk US Silver at many shows and they go for a few thousand dollars, but they are the old SILVER Coins not the clad fakes we have now. (Check article 1 section 10 of the Constitution for coin language!)

Coin magazines have some BS Ads in the back, beware!
Online is scary these days, Beware!

I buy from www.royalcoin.com but I live near enough to make the hour drive into that part of Houston. They are a good legit dealer and have been good to me. Otherwise, ask around and you will hear from buyers and sellers who you can trust and who you can’t.

Most coin dealers are old dudes trying to make a living. They make a slim profit if lucky, and horse trade often. Many make money by doing collection values of gradpa’s collection after he is gone for the family.

Good luck.


9 posted on 04/21/2010 10:14:24 AM PDT by King_Corey (www.kingcorey.com)
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To: BerserkPatriot

LOL!

What a coincidence. That happened to me too!


10 posted on 04/21/2010 10:14:54 AM PDT by Pessimist (u)
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To: LeGrande

That’s good advice – but I’m not sure that we have the luxury of waiting until the proper time.

My thinking is that any savings we have in the bank will be eaten up by inflation or whatever, so the rationale is to at last use some of those savings as a hedge against future disaster.

I realize it would be foolish to take all savings and buy precious metals, Putting all of you eggs in basket is foolish, by the same token, the same could be said about leaving most if not all of you money as greenbacks.


11 posted on 04/21/2010 10:16:09 AM PDT by BerserkPatriot (There are no 1st Amendment rights without 2nd Amendment Rights)
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To: cowtowney

Thank you


12 posted on 04/21/2010 10:17:38 AM PDT by BerserkPatriot (There are no 1st Amendment rights without 2nd Amendment Rights)
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To: BerserkPatriot

I am not an expert. I bought some silver American Eagles from APEX on line. They delivered it- no problem. I then took to safety deposit box.

Note: Check your homeowners policy- it may have limits on how much is covered if stored at home for things like gold, silver, jewelry, guns, and computers etc. which you may want to increase.


13 posted on 04/21/2010 10:19:13 AM PDT by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: BerserkPatriot

Where are the better places to buy these assets?
With a Large National firm or a local retail outlet?

- You’ll pay a huge premium at local pawn shops, not quite as much at local coin shops, but it’s cash and carry and no paperwork whatsoever. That will be important eventually. For now, I myself like http://www.blanchardonline.com

How much should I buy of Gold and Silver?

- It’d be a fool’s errand to try to find a generally agreed upon balance for silver vs gold. I personally believe that silver will outperform gold going forward. The knock on silver is that it takes a lot of space to store a lot of value, but hey who are we kidding with that — a stack of eight one-ounce Silver Eagles is an inch high and less than two inches wide; it’s worth $144 or about $75 per cubic inch. $150,000 in silver would take 2000 cubic inches which is, as one example, a box 10” x 10” x 20”. Plenty of room for that in a safe.

- Bullion or coins?

I say coins. They’re harder to counterfeit, they’re more cool to look at and to show (trusted) friends, and they’re more readily available.

All IMO.

Search for keyword “gold” to find articles related to gold and silver, and mail me to get onto the Goldbug Ping List.


14 posted on 04/21/2010 10:20:46 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; OneLoyalAmerican; ...

Goldbug ping: “Questions on the best way of buying Gold and Silver (Vanity)”

Mail me to get on or off the Free Republic Goldbug Ping List.


15 posted on 04/21/2010 10:23:12 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: BerserkPatriot

One thing I’ll reco is to watch/listen to some of the videos on this site www.goldsilver.com = Mike Maloney, for the reasons to buy the various forms. I used to work with Mike, I don’t any longer, nor do I have an affiliation. He explains things pretty well.

Another thing is to peruse a forum. Like this one over on Denninger’s site: http://tickerforum.org/cgi-ticker/akcs-www?forum=Metals

All of your questions have been asked & answered a million times before, that’s why I am not directly answering your questions.

You have to do your own research as to why you wish to own this stuff, and how deeply you want to get into it. I happen to own a lot of silver, but I own about all I want to own and I’m not buying any at present.

A lot of people want to own PMs for misguided reasons. Many people claim that the government is “printing money like crazy”. Well, that’s really not true, even though it is a popular saying. So...if that happens to be your reason for buying PMs, then your reasoning isn’t very sound.

Sources: APMEX, Tulving, CNI = www.golddealer.com or goldline.com. All = excellent, flawless (AFAIK) reputations. Watch your shipping costs. Purchases under $1K are taxable in some states, under $2500 in some other states. The APMEX site is excellent for comparing prices, plus, you can buy late at night when severe price drops have a habit of happening. If you like silver, they probably have 50 differnt forms. ALL of these sites have a lot of educational materials, which I encourage you to absorb.


16 posted on 04/21/2010 10:29:01 AM PDT by Attention Surplus Disorder (Voters who thought their ship came in with 0bama are on their own Titanic.)
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To: BerserkPatriot
My thinking is that any savings we have in the bank will be eaten up by inflation or whatever, so the rationale is to at last use some of those savings as a hedge against future disaster.

That is what everyone else is thinking too : )

It appears to me the gold market is being manipulated and that the financial collapse we are watching is more deflationary than inflationary. The prices for everything except energy are going down.

Timing is everything, and it is impossible to time the markets : )

17 posted on 04/21/2010 10:33:36 AM PDT by LeGrande (Yes, I am an agent of Satan, but my duties are largely ceremonial.)
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To: BerserkPatriot

Jewelry is the safest if you plan to use it for bartering. You can easily break a chain necklace into small pieces. Can’t do that so easily with bullion. Also, if you try to barter with bullion or bars, you’re pretty much advertising that you have gold stockpiled. But, if you pull, say, the wedding band off your finger and use it to but necessities, you look like just another desperate person. No one has to know that you have 5 more identical wedding rings in your pocket :p

Stores that sell jewelry making supplies usually have good prices on chains and bands. Try and get it as close to the market price-per-oz as you can find.

Another way would be to buy it as bullion or whatever, then learn to make it into jewelry. Again, simple wedding bands are easy and inconspicuous to use.


18 posted on 04/21/2010 10:53:39 AM PDT by Ellendra (Can't starve us out, and you can't make us run. . . -Hank Jr.)
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To: BerserkPatriot
http://allamericangold.com/
19 posted on 04/21/2010 10:55:23 AM PDT by real saxophonist (The fact that you play tuba doesn't make you any less lethal. -USMC bandsman in Iraq)
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To: BerserkPatriot
I have an account with APMEX. Traditional financial advice is to put 10% of your investments in Bullion. I recommend an in hand mix of silver and gold. The 10% figure is probably too low with the sovereign debt crisis.

Bullion is not an investment, but insurance that your capital will be maintained during high periods of inflation or fiat currency collapse.

Beans, Bandaids, Bullets and Bullion (4Bs)
20 posted on 04/21/2010 11:18:06 AM PDT by PA Engineer (Liberate America from the occupation media.)
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To: BerserkPatriot

Walk down almost any dark street in any poor section of a major city and tell everyone you see that you’re in the market for some gold and silver—and have the cash on you.

The sellers will find you. Or you may be approached by middlemen who will take your money and promise to return with the goods. Be prepared to wait for several hours.


21 posted on 04/21/2010 12:34:49 PM PDT by wildbill (You're just jealous because the Voices talk only to me.)
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To: PA Engineer; All

Good advice, thank you all.


22 posted on 04/21/2010 1:07:26 PM PDT by BerserkPatriot (There are no 1st Amendment rights without 2nd Amendment Rights)
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To: BerserkPatriot
You might try a gun show...

Some coin and bullion dealers have been showing up at the local shows and have some silver/gold to sell (coins and small ingots).

23 posted on 04/21/2010 2:33:28 PM PDT by JDoutrider
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To: BerserkPatriot

Another thought: go here www.coinshows.com and if any are reasonably near you, you might blow off a Sat-Sunday afternoon and $2-$3 admission to check out the waters, as it were.

Now this is coins, and if you want bullion, you do NOT want [rare] coins, you want JUNK coins. However, you’ll usually find a bullion dealer or two at a typical coin show. You do NOT want to pay for excellent condition. And above all, do not make the mistake of thinking that one coin can be both numismatic AND bullion: If you melt it down, it is no longer a fine coin. If you put in a display case, it isn’t bullion. One or the other, not both, do not add the values together!

Anyway...the exercise might give you an opening idea of what you’re dealing with, and you might make a contact or two. Coin show buys, you rarely pay sales tax and obviously no freight on small buys and you walk out with goods in your hand...but you DO need to know your values bec you’re not there with your computer.....unless you are mobile.

Worthwhile going to one or two, no question IMHO. Take note of how many gonzillions of silver dollars there are. That never fails to blow my mind.


24 posted on 04/21/2010 3:01:09 PM PDT by Attention Surplus Disorder (Voters who thought their ship came in with 0bama are on their own Titanic.)
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To: Attention Surplus Disorder

You are right along with what I was saying. I think this is a pretty good course myself.


25 posted on 04/22/2010 4:37:55 AM PDT by King_Corey (www.kingcorey.com)
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To: greeneyes
I then took to safety deposit box.

Do as you will, but I would NEVER EVER put cash or precious metals in a safe deposit box. Those are worthless except for documents. The gubmint controls the banks, so if the gubmint declares a "bank holiday" and closes the banks, you can't get to your PM's. Furthermore, the gubmint is quite capable of ordering the banks to seize any cash or PM's in safe deposit boxes, or at the minimum, open all of them and force the owners to explain to the IRS the source of said assets, and even tho you obtained them legitimately, do you want to be harassed by the IRS? There are any number of unpleasant scenarios that might ensue.

In short, anything you put in a safe deposit box is at the mercy of the Kenyan Marxist in the WH. You might be comfortable with that. I am not.

26 posted on 04/22/2010 9:31:11 PM PDT by webschooner (Government is a disease masquerading as its own cure - Robert LeFevre)
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To: cowtowney

+1 for www.tulving.com

I have done business with them for awhile, and have been very happy. Also, best prices for PM’s I have been able to find anywhere.


27 posted on 04/22/2010 9:33:02 PM PDT by webschooner (Government is a disease masquerading as its own cure - Robert LeFevre)
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To: webschooner

Well if I were you, I would not state that on the internet.

If the marxists, and IRS want our silver they only have to get the records from the companies selling precious metals, and they can still come after it no matter what you do, but you just told them yours won’t be in your safe deposit box.

Truth is nothing is safe anywhere at the present time. That is the new normal.


28 posted on 04/22/2010 9:38:47 PM PDT by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: webschooner; greeneyes

Large white PVC pipe - about 10 inches across (whatever the big size is) with caps at each end, buried in the ground. Can’t burn, water can’t get in it.

Just remember where you buried it and make sure another trusted person knows, or write it in your will. Have some kind of mark that someone can recognize when they read description (or yourself - don’t forget where it is).

Safety deposit boxes are utterly worthless. Suppose the bank fails/gets taken over/there’s a bank holiday etc.


29 posted on 04/22/2010 9:40:53 PM PDT by little jeremiah
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To: Attention Surplus Disorder
Many people claim that the government is “printing money like crazy”. Well, that’s really not true

You can call it what you like, but the gubmint is definitely devaluing and debasing the currency, which is why gold and silver have been on the rise in terms of dollar value in recent years.

The gubmint doesn't have to "print money like crazy", since they don't spend the trillions with green folding money. They just create money that they don't have in gubmint accounts digitally to spend. Plus of course, they are continually borrowing way beyond the country's means to ever repay, and they know it.

This is what happens with fiat money that is backed by nothing except bad fiscal policy -- things eventually get out of control and the currency gets debased and devalued by power-mad and immoral politicians. And this is unfortunately the process we are observing and living in this country.

30 posted on 04/22/2010 9:46:26 PM PDT by webschooner (Government is a disease masquerading as its own cure - Robert LeFevre)
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To: greeneyes

That is commonly stated all over the internet on many forums, particularly PM forums. Perhaps be slightly less paranoid ...


31 posted on 04/22/2010 9:52:25 PM PDT by webschooner (Government is a disease masquerading as its own cure - Robert LeFevre)
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To: little jeremiah

If a bank is taken over, it usually happens Friday after close of business, and reopens the next Monday, under a new name. Safe deposit boxes aren’t available around here on weekends anyway. As long as you use several different banks, it’s okay for most situations.

As far as where I keep my stash, I would not put that on the internet, where anyone including big brother could see it, if I were you. Now they know you don’t use the safe deposit box, and they’ll be digging up your yard.

Therefore, I am stating that I take my stuff to the safe deposit box, that’s my story, and I am sticking to it.LOL.


32 posted on 04/22/2010 9:57:06 PM PDT by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: webschooner

I’ll be less paranoid when the marxists, commies, socialists, and left wing radicals are weeded out of the government, and we have returned to fiscal sanity, and constitutional government.

What is going on in our country is like nothing I have ever seen or read about before, except maybe Germany. Only now do I begin to understand something I have puzzled about for years. How in the world was Hitler able to destroy the German Republic, and become a dictator?


33 posted on 04/22/2010 10:03:31 PM PDT by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: greeneyes

This is just what I read, no personal experience! Plus they’d have to dig up quite a few acres.

;-)


34 posted on 04/22/2010 10:44:59 PM PDT by little jeremiah
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To: little jeremiah

LOL.


35 posted on 04/22/2010 11:15:41 PM PDT by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: BerserkPatriot

Here’s a link I heard about just today,

= = =

http://www.thereadystore.com/

= = =

here’s one I have known about for a while,

http://www.standeyo.com/


36 posted on 06/07/2010 8:20:20 PM PDT by Joya (Lord Jesus Christ, Son of God, Savior, have mercy on me, a sinner!)
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To: Joya

Thank you!

I’ll check those out.


37 posted on 06/08/2010 6:11:15 AM PDT by BerserkPatriot (There are no 1st Amendment rights without 2nd Amendment Rights)
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