Skip to comments.How to and best place to buy gold.
Posted on 09/20/2012 6:40:22 AM PDT by meeps
Need advise on how to buy gold.
Look in the local Yellow Pages under categories like “Gold”, “Jewelry” and “Rare Coins” for a local dealer.
Provident Metals. Lower premiums than APMEX and very good service.
Wherever you buy check the prices against the current market prices at somewhere like http://www.monex.com/liveprices. If you are lucky you can buy form an individual at the spot price or a bit more. The commodity prices are much higher.
Also, where do people keep their gold if they have investment quantities, i.e. more than a shoebox of coins? What secure storage is there that can be trusted to not be running a fractional reserve scam with clients assets?
Here are the shipping, handling and insurance costs:
$12.95 (USD) for orders of $50.00 - $249.99 (USD)
$19.95 (USD) for orders of $250.00 - $999.99 (USD)
$24.95 (USD) for orders of $1000.00 - $24999.99 (USD)
Free for orders of $25,000 (USD) and over
If you’ve got more than a shoebox of coins you should be able to afford a good safe and have it properly attached to a large piece of concrete.
I have found this website to be a very useful source of information on the economy, gold, and silver.
Stay away from the Tungsten.
I keep my gold with other items that are worth their weight in gold. In my gun safe.
It turns out that they were not pure tungsten; they were filled with gold.
A shoe box will easily hold 500 oz or ~ $850,000.
What do you call investment quantities?
I didn’t mean to imply that I was looking for a storage alternative to a shoebox or a pvc pipe buried in the garden. Obviously a safe would be involved for moderate, in-home quantities. I was thinking more of what people with $1 million plus in tangible gold do for storage. It seems that off-site, secured vault service of some kind would be preferable but I hear so many stories of the gold not actually being there or being dilluted with tungsten.
Buy ‘junk’ gold coins.
They are easier to sell, in small denominations.
There is also some numismatic value, although that will deteriorate when TSHTF.
If discovered by the government - and purchases are tracked - they will not be likely to be confiscated as gold was under FDR, since they are collectibles and not hordes gold.
Where do you buy your drill bits?
hordes = hoarded (Autospell fixer on my new Mac... G-r-r-r-r-r)!
I know. That's why I said shoebox, to indicate the approximate level.
jmbullion.com is my favorite. If you join the Members Brigade at thesurvivalpodcast.com, you get a discount.
Remember, when you buy gold, you are betting on long term inflation. If it turns out to be deflation, you lose.
A standard gun safe will easily hold several shoeboxes, with plenty of room left for several guns.
If you don’t like that, my next suggestion would be a safe-deposit box at a bank.
one of the best ways is this one:
The gold is stored in a fault in Australia,
guaranteed by the Aussie gov.
Therefore....NO PLACE IS SAFE TO BUY GOLD,IMO, without some kind of sophisticated authentication that your gold is really gold and not mostly tungsten
...I like Mercury Dimes and "war nickles". Mercury dimes are 90% silver, are real US money and absolutely cannot be mistaken for anything else. If they are worn and dirty, they are probably not fake...Dimes are a small enough denomination that they will be more useful than a 1 oz gold bar WTSHTF. War nickles are 40% silver, but can be mistaken for last generation nickles if you are not paying attention since the design is the same .
..gold gives me the shivers. It is has little commercial value other than reflective coatings and plating for components which need to be oxide free.
I would say, however, if you bought .1 oz eagles would be better than big bars since if the objective here is a "store of value" small units would be more useful in "trade" than having to saw off a piece of your big bar in order to "buy" a loaf of bread.
For both “junk” coins and bullion, I’ve found this outfit to be reliable:
This is a common misconception.
You have to get over thinking about gold in terms of dollars. An ounce of gold is just an ounce of gold. It is a store of wealth and not an investment. There is no significant appreciation or depreciation over the long haul. Although there can be significant gains or losses in the short term.
As I was telling my brother in law just the other day, an ounce of gold will buy a good mens suit. It's a pretty good approximation. Inflation, or deflation an ounce will still buy a good mens suit.
you can buy it today ... GLD is the symbol. In your brokerage acct.
if you insist on taking physical possession, sell the GLD when you get your real gold.
best place I know:
Lowest over spot price I have found to date.
Personally - I am buying more silver though. Silver and Gold go hand in hand together usually.
Bingo - Provident always delivers on time and have never had a problem. Just wish I had more $$$$ to buy more.
Vital items that are easily bartered will be equal to gold if/when God gives us our long-deserved humbling.
Candles, cooking and heating oil, ammo, guns, seeds, beans, non-electric tools.
A few years ago we had some 'junk' silver coins from Vegas casinos and the like.....our local coin dealer wouldn't touch 'em with a ten foot pole.
Their current price for junk silver coins is a about 4% over the spot price. I have a local coin dealer where I can get them for 1% over spot.
Regardless of where you buy them, include the premium for buying/selling them and shipping costs in your evaluation.
Read the forums at kitco.com and zerohedge.com for market information. Try bulliondirect.com, but provident is really good too. Bullion direct allows you to buy small quantities and hold them, then trade them for a different product or ship them all together, which saves on ship/handling fees. There’s a tutorial on their site that explains how to do it.
I should correct what I meant by “trade.” It’s not a direct swap, but you can resell your stash and buy something different without taking possession.
Not really all that sophisticated. The speed of sound in gold and tungsten is significantly different (more than 50% faster in tungsten), so an ultrasonic tester would show the difference quickly. Similarly they have different electrical resistivities, so tungsten could be detected electrically.
Anyone who owns gold bars should be able to easily afford the equipment to test them, so if they aren't testing their gold it is likely because they wish to be willfully ignorant of the tungsten problem.
Buy fractional; 10th, quarter half. Gainesville gold is a good place to buy or APMX.
For buying new, old, or collectable gold or silver coins I have found SCI to be very competitive and good folks with a well laid out catalog.
Southern Coin Investments
P.O. Box 720714
Atlanta, GA 30358
You know, even after all the "SHTF talk" and hedging your other investments with gold, the "store of wealth" is still relative to what humans value in a given situation.
If people are starving, and have no food, they cannot eat gold. In such a case, a bag of grain might be more valuable.
If someone has an infection, they cannot inject themselves with gold; they cannot swallow a gold coin and cure themselves. In such a case, an anti-biotic is more valuable.
If someone wants to build a shelter, and all they have is an electric circular saw but no electricity, gold will not magically produce energy. In such a case, a handsaw is more valuable.
Why do we value gold, as a store of wealth?
“Why do we value gold, as a store of wealth?”
Because $100,000 in gold is easier to carry around than $100,000 in handsaws.
“Can anyone provide tips and information on how and where to buy gold?”
The US government cannot confiscate what it doesn’t know about. If that sounds reasonable, then discreetly buy gold coins at coin shows held in the bigger cities. Check out http://www.coinshows.com/ to find shows near you. Walk in, buy numismatic or bullion coins, pay in cash, no receipts, walk out. FUBO!
You're talking about the zombie apocalypse and I'm just talking about a currency collapse.
Lots of chaos initially in both so yes you need a plan to barter and protect yourself and loved ones. When a new currency is in place and things come back to a more normal state then the gold will have protected your wealth.
For the zombie apocalypse gold will not be particularly useful.
The ratio of gold to survival items will be determined by your available funds. Most here will be better served with survival items. A small percent will also have significant wealth to protect. If it's just an economic rough patch then having those people come thru on the other side with wealth intact will be a big help in rebuilding our infrastructure and businesses.