Posted on 12/10/2015 5:23:44 PM PST by Keli Kilohana
What is the best and least expensive way to buy gold for an investment?
From a radio ad. Those guys practically give it away. :)
You have to do some research. I recommend physical silver especially since now the price is super low and unlikely to drop too much more.
I have found this website to be a very useful source of information on the economy, gold, and silver.
http://goldismoney.info/forums/
coloradogold.com
Wait till it hits $350.00 an ounce. Then sit for 20 years. Gold may end up being worthless.
First, lay in a good supply of lead, and tools for delivering it.
Build an atomic bomb, gas the troops at Fort Knox...uh, never mind
Of course ya gotta do a lil work to get it out.
Get about $500k worth of equipment. Go to Alaska. There’s a couple TV shows about how easy it is.
I just sold all mine. It ended up being not a very good investment. Buy it from a reputable dealer with a soild reputation and keep the receipt with the gold. Buying it is the easy part. Selling it si a little trickier. You really have to shop around to get anywhere near spot and everyone will want to screw you. I would buy Krugerands and/or eagles. Make sure they’re shiny and new looking and protected. I was able to sell my sovereigns but a lot of people are clueless about sovereigns and foreign coinage. Some folks won’t touch it. Krugerands and eagles are easier to sell.
Coin shops....
Safety deposit boxes are not a safe way to store gold. The government can seize your safety deposit box with very little in the way of due process.
I use Apmex or my local coin shop. The coin shop is often cheaper and doesn’t charge for shipping. I got silver rounds last week for .37 less than the best internet prices last week and no shipping charges.
Wait for the price to go down....
If so, then why not wait to buy other items, like a new automobile, suit, house, land, and etc. If gold is $350 an ounce, then a new $30,000 automobile should only cost about $10,000, by that reckoning.
The old proverb of not putting all of your eggs in one basket, still applies today.
Buy US Eagles at a fixed price over spot. Typically about 5-7%. The US Eagles helps to prevent counterfeiting. Only buy gold . do not buy gold + some additional value (rare coins). You are not able to value that premium, and the people selling you the coins will grossly over value it. When you buy an Eagle at a small percentage over spot you know exactly what you have and exactly what it is worth. Kitco is a good value to buy Eagles.
The least expensive way is to never buy it in the first place.
The second least expensive way is to go to numerous websites that explain all the many ramifications. Goldandsilver.com is one. They also discuss holding IRA funds in a SD box.
A SD box in many ways defeats about 1/3rd of the reasons to buy gold, by the way. In my opinion, as one who owns some gold, more silver. You understand, of course, that contents of SD boxes are not insured. You also understand that in the event of a bank failure you would not be able to access your metal until the FDIC (or whatever entity seizes the bank) says you can, perhaps under direct supervision of a bank officer or Tsy official who might very well ask you to document how you came to be the owner of that gold. And might not let you have it until you can. Just a thought.
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