Source For Gold In Hand

[ARCHIVED THREAD] - Source For Gold In Hand

Posted: 10/27/2009 5:48:24 PM EDT

Hello,
I have been waiting to make a purchase on the AMPEX website, or even EBAY, for my first valuable coin.
Are there any other sites such as AMPEX that I should check out before making my purchase? I wonder if its even possibly to purchase coin from the US MINT.

Any ideas on where to look otherwise? My first born son is coming up soon, and wanted to have this great gift for him before he is born (ie 3 weeks LoL)

Thank again

Posted: 10/27/2009 5:55:05 PM EDT

[#1]

Just go to a local coin shop and pay cash. Easy, fast, and anonymous.

Posted: 10/27/2009 7:31:51 PM EDT

[#2]

Quoted:
Just go to a local coin shop and pay cash. Easy, fast, and anonymous.

that's how I buy my gold now.

Posted: 10/27/2009 7:45:32 PM EDT

[#3]

Apmex is good to order from.
E-bay has a bunch of fakes.
THe local shop may be fast easy and anonymous but if you are talking large purchases it is like the local gunshop. If you know the guy good deals. If you don't not so good deals. If you only want one or two it is probably your best bet. If you are talking big order APMEX is probably a better deal. Kind of like ammo. If you want one box shipping kills you. If you want 5K rounds it is usually the way to go.

A friend went to three local shops asking prices on a bulk ($10K) order of silver Am. eagles. Best price from the local shops was $18 each. I told him to check apmex, $15.43 each plus a whopping $25 shipping fee.

I have never used them but have seen kitco recommended on here as well.

Posted: 10/27/2009 8:01:15 PM EDT

[#4]

While I have purchased from APMEX before (and they were fine), for large purchases I have found Tulving the best so far. If you can afford the minimums (500oz. silver and 20oz. gold) they are usually cheapest over spot when I look. They don't play shipping games either. They even pay shipping and cover insurance when you sell back to them. I have bth bought and sold there with no troubles.

http://www.tulving.com/goldbull.html

Posted: 10/28/2009 9:57:27 AM EDT

[#5]

Quoted:
Just go to a local coin shop and pay cash. Easy, fast, and anonymous.

THIS

If I do order online I have only went through Bulldion Direct and have been very happy.

CNI in Inglewood is great too with low premiums, I bought FTF there a few years back they do mail order too.

Posted: 10/28/2009 1:32:41 PM EDT

[#6]

Quoted:
While I have purchased from APMEX before (and they were fine), for large purchases I have found Tulving the best so far. If you can afford the minimums (500oz. silver and 20oz. gold) they are usually cheapest over spot when I look. They don't play shipping games either. They even pay shipping and cover insurance when you sell back to them. I have bth bought and sold there with no troubles.

http://www.tulving.com/goldbull.html

They have so many choices it makes my head spin.

I'm not a coin expert, is the risk in these tied directly to the market price of gold?

Having small denomination gold coins kinda appeals to me as being something that can be traded in SHTF situations.

Posted: 10/28/2009 3:39:31 PM EDT

[#7]

If by risk you mean the amount of FRN's it takes to buy one, than yes. Or confiscation if you care about what the govt says. The small coins carry a higher premium, but you can make that back most of the time. Ive gradually trended to the fractionals myself in the past couple of years.

Posted: 10/28/2009 5:33:57 PM EDT

[#8]

Quoted:
If by risk you mean the amount of FRN's it takes to buy one, than yes. Or confiscation if you care about what the govt says. The small coins carry a higher premium, but you can make that back most of the time. Ive gradually trended to the fractionals myself in the past couple of years.

Beat the shit out of some asshat in da hood, take his shit yo.

Posted: 10/29/2009 1:04:09 PM EDT

[#9]

Quoted:
If by risk you mean the amount of FRN's it takes to buy one, than yes. Or confiscation if you care about what the govt says. The small coins carry a higher premium, but you can make that back most of the time. Ive gradually trended to the fractionals myself in the past couple of years.

Thanks.

I can't really see the use of a full 1 ounce coin as trade for anything, unless it was a vehicle or something.

By 'risk' I was referring to value/price volatility.

by the way: What is FRN? And what do you mean by govt confiscation?

Posted: 10/29/2009 3:29:46 PM EDT

[#10]

I just picked up 85 rounds 1 oz silver for 14.85 at a local jewelry shop. Someone traded them to him for cheap and he was getting ready to ship them off for melt price.

Posted Via AR15.Com Mobile

Posted: 10/29/2009 4:59:03 PM EDT

[#11]

AJPM (www.ajpm.com does free shipping at 10 oz and is pretty competitive. Check with you local coin shop also. I've never had much luck with gold here, but out west (ND, MT, CO) their prices matched AJPMs. I have had luck buyign junk silver arround here. I'll buy at or just above spot, all of the junk coins that they can't foist off on young collectors. While they may offer free shipping, you knwo they are recovering the cost of shipping a 50 lb bag of coins fedex.

Posted: 10/29/2009 6:00:31 PM EDT

[#12]

local and pay cash or APMEX.com

Posted: 10/30/2009 3:31:15 AM EDT

[#13]

Quoted:

Quoted:
If by risk you mean the amount of FRN's it takes to buy one, than yes. Or confiscation if you care about what the govt says. The small coins carry a higher premium, but you can make that back most of the time. Ive gradually trended to the fractionals myself in the past couple of years.

Thanks.

I can't really see the use of a full 1 ounce coin as trade for anything, unless it was a vehicle or something.

By 'risk' I was referring to value/price volatility.

by the way: What is FRN? And what do you mean by govt confiscation?

Never mind. Just Googled my own answer to gold confiscation. I didn't know about this. Unbelievable!!!

My knowledge on history is (obviously) woefully lacking. Math & language were always my strong subjects, history just does not seem to stick, no matter how motivated I am to learn it.

The more I learn here the more I wonder exactly how one defines a 'free society.' Just seems to be degrees of repression.

Posted: 10/31/2009 5:21:34 PM EDT

[#14]

What are your thoughts on buying 14K gold jewelry? This time of year, there are some great sales. I've been wondering if I should pick up some things.

Posted: 10/31/2009 11:42:45 PM EDT

[#15]

Go gold panning it's almost free and good excersise.

Posted: 11/1/2009 3:33:15 AM EDT

[#16]

Quoted:
What are your thoughts on buying 14K gold jewelry? This time of year, there are some great sales. I've been wondering if I should pick up some things.

no.... if you want gold, buy gold, the price per gram on 14k can run upwards of $75 - $125 right now, where as a gram of .999 pure bought from a dealer will run $50ish.... do not buy jewelry as investment, if you want gold, buy Gold, or you get ripped off, even 50% off at a retail jewelry store is not really a sale, its a huge mark up then a discount, I know how it works, I am in the business.

Posted: 11/1/2009 3:46:43 AM EDT

[#17]

Quoted:
While I have purchased from APMEX before (and they were fine), for large purchases I have found Tulving the best so far. If you can afford the minimums (500oz. silver and 20oz. gold) they are usually cheapest over spot when I look. They don't play shipping games either. They even pay shipping and cover insurance when you sell back to them. I have bth bought and sold there with no troubles.

http://www.tulving.com/goldbull.html

+1

Tulving is my PM dealer. Personable, fast, trustworthy, and best prices (if you are up for the minimum purchase).

Posted: 11/1/2009 4:20:38 AM EDT

[#18]

I have to say... why do all these multimillion dollar gold sites look like they belong on a geocities account

Posted: 11/1/2009 6:44:04 AM EDT

[#19]

Quoted:

Quoted:
While I have purchased from APMEX before (and they were fine), for large purchases I have found Tulving the best so far. If you can afford the minimums (500oz. silver and 20oz. gold) they are usually cheapest over spot when I look. They don't play shipping games either. They even pay shipping and cover insurance when you sell back to them. I have bth bought and sold there with no troubles.

http://www.tulving.com/goldbull.html

+1

Tulving is my PM dealer. Personable, fast, trustworthy, and best prices (if you are up for the minimum purchase).

I agree, but since he increased his minimum purchase to 20oz of gold most people are priced out. I don't know too many people who have $20,800 laying around to spend on a single gold purchase.

Posted: 11/1/2009 6:47:24 AM EDT

[#20]

Quoted:
I have to say... why do all these multimillion dollar gold sites look like they belong on a geocities account

Tulving has been using the same basic website design for over ten years... it's low bandwidth, updated daily, and gets the message across quickly w/o a lot of unneeded shockwave animation. People who buy from him know what they want, know what they need, and know what the price should be.

Posted: 11/1/2009 2:54:12 PM EDT

[#21]

Quoted:

Quoted:
I have to say... why do all these multimillion dollar gold sites look like they belong on a geocities account

Tulving has been using the same basic website design for over ten years... it's low bandwidth, updated daily, and gets the message across quickly w/o a lot of unneeded shockwave animation. People who buy from him know what they want, know what they need, and know what the price should be.

Bingo! People who will drop that amount of coin already know who Tulving is by rep. Ads, marketing hype, etc. just increase costs. Bullion is exactly what it is, and when I hear all the ads on the radio and see them on tv I know the customers are paying for all of those ads. The bullion community is kind of like old school guns–– good business practices and low overhead on legitimate products will garner you more word of mouth/net advertising than you can keep up with. If Tulving ever starts running Pyramont ads, I'll run away like my hair is on fire!LOL

Posted: 11/1/2009 4:14:05 PM EDT

[#22]

tag for later.

Posted: 11/1/2009 4:40:41 PM EDT

[#23]

Could someone explain the selling process? Let's say that I buy some gold from APMEX. It comes the next day, then I find out the Masada/ACR is the new SEBR and I need to sell it to buy another loud toy. The market price for 1 oz is ~1045, I buy it for ~$1070. How does the selling process work, and how close to the sell price is the buy price?

I am interested in buying gold, but my concern is that it's basically just a freaking paperweight. I'd like some assessments about the liquidity, and understand how the process works. Thanks.

Posted: 11/1/2009 4:56:34 PM EDT

[#24]

Since reading this thread I've been looking at coins in less-than-1 oz size, and they seem to garner a very high premium.

One ouncers are sold at spot plus a small markup, the lower denominations not so much.

Regarding selling, here's Tulving's process:

http://www.tulving.com/New%20Pages/buying_bullion_coins.html

Posted: 11/1/2009 6:28:42 PM EDT

[#25]

Quoted:

Quoted:
Just go to a local coin shop and pay cash. Easy, fast, and anonymous.

that's how I buy my gold now.

What do you normally pay?

The closest thing to a coin shop in my area is a place that advertises that it buys coins and jewelry. Never set foot in there, but they have more of a "sleazy pawn shop" look than "legitimate business that doesn't deal in stolen goods".

I plan on dropping some cash at the next gun show to buy some pre-65 silver coins from the coin dealer there, but he never has any gold and his prices are just barely this side of reasonable.

Posted: 11/1/2009 6:40:39 PM EDT

[#26]

Quoted:

Quoted:
If by risk you mean the amount of FRN's it takes to buy one, than yes. Or confiscation if you care about what the govt says. The small coins carry a higher premium, but you can make that back most of the time. Ive gradually trended to the fractionals myself in the past couple of years.

Thanks.

I can't really see the use of a full 1 ounce coin as trade for anything, unless it was a vehicle or something.

By 'risk' I was referring to value/price volatility.

by the way: What is FRN? And what do you mean by govt confiscation?

Never mind. Just Googled my own answer to gold confiscation. I didn't know about this. Unbelievable!!!

My knowledge on history is (obviously) woefully lacking. Math & language were always my strong subjects, history just does not seem to stick, no matter how motivated I am to learn it.

The more I learn here the more I wonder exactly how one defines a 'free society.' Just seems to be degrees of repression.

The 1930's were a shitty era and the beginning of Big Government as we know it today.

The NFA of 1934 restricted silencers, machine guns, short-barrel longarms, destructive devices, AOW's, etc. and placed a $200 registration fee (considering Thompson submachine guns cost $10 at the time, this was certainly a prohibitive expense.) on them.

The Bonus March, with thousands of WWI veterans rendered homeless by the Depression setting up camp outside Washington and petititon Congress daily to give them their war bonus early so they could buy what they needed to survive, was not only denied an early bonus, but the US Army was used to drive them out, with Douglar Macarthur (the officer in charge) ordering his troops to fire a volley into the crowd of Bonus Marchers (who had lined the streets and begun cheering for the advancing troops that they mistook for a military parade in their honor.), do a bayonet charge, and then tear gas their camp site and born their tents, shacks, and the only possessions they had left to the ground.

The confiscation of gold from private citizens, which not only included raiding their safe deposit boxes at banks but even searching the homes of reported coin collectors and hoarders for contraband precious metals.

And if you don't think our government wouldn't do it all over again in a similar scenario, think again.

Posted: 11/1/2009 6:44:14 PM EDT

[#27]

Might I ask why the interest in coins versus plain old bullion / ingots, etc?

I never really understood why some folks try and do it in coins.

Posted: 11/1/2009 6:55:19 PM EDT

[#28]

Quoted:

Quoted:
Just go to a local coin shop and pay cash. Easy, fast, and anonymous.

that's how I buy my gold now.

Do you pay sales tax at the local shop? I went to one yesterday, he gave me a good deal (about $15 less than APMEX) on a .25 once AE gold coin. Then he added in tax, which of course ruined the deal, so I walked.

I find it odd that I have to pay sales tax to buy US currency.

Posted: 11/1/2009 6:59:17 PM EDT

[#29]

Quoted:
Might I ask why the interest in coins versus plain old bullion / ingots, etc?

I never really understood why some folks try and do it in coins.

Counter fitting? U.S. Gov't isn't going to care too much if you fake out Bob's Mint Gold Trinket, but you fake out U.S. Currency (or the currency of almost any other first world nation) they're gonna be all over your ass. Yes, I know you can test gold with chemicals, but hard to do that sometimes.

Posted: 11/1/2009 8:33:15 PM EDT

[#30]

No tax on gold coins, I usually pay $20 plus spot on a one oz gold coin. Local with cash, no IDs, no names.

Posted: 11/1/2009 8:57:22 PM EDT

[#31]

Quoted:
Might I ask why the interest in coins versus plain old bullion / ingots, etc?

I never really understood why some folks try and do it in coins.

They are coin collectors.

Posted: 11/2/2009 3:30:38 AM EDT

[#32]

There are really two ways to buy precious metals.

The first is from a local dealer of some sort (coin, pawn, jewelery store). You have to have a good idea of what the price is likely to be or you may pay more then necessary. The Internet is a good way to research prices.

The other is mail order. the problem with mail order is that shipping is not free.

In either case, buying small amounts of PM almost always has a higher premium. The reason is that the dealer has to make a living. His transaction costs (mostly his time) are not a whole lot different between a guy buying one or 100 silver eagles. He is going to want a higher premium for selling you a single coin versus 100.

The one common exception to this is coin shows. The dealer is there and his time is already spent. He can't use the time to do something else (at least in general) so he is often willing to make a deal. Don't waste his and your time on low ball offers. They know to the nickel what the other dealers will pay them, and they are perfectly happy to wholesale it to the guy across the aisle. Its not unusual for dealers to buy from people coming in the door and sell it a few minutes later to another dealer.

Coin dealers are known for being curmudgeons and will act like you have cut off their left nut no matter how much money they made in the deal.

Posted: 11/2/2009 5:15:40 AM EDT

[#33]

Quoted:

I find it odd that I have to pay sales tax to buy US currency.

Researching this more...Minnesota does indeed charge sales tax on the purchase of bullion coins and currency. It appears some states do and some don't....Of course, Minnesota does...

http://www.taxes.state.mn.us/taxes/sales/publications/fact_sheets_by_name/content/BAT_1100095.pdf

Posted: 11/2/2009 5:33:56 AM EDT

[#34]

Same states charge the tax, some don't, some (FL, I think) doesn't charge tax if you buy 10oz or more of gold. Tax would almsot allways ruin a deal with a local shop. When I bought junk silver, I made it clear I wasn't paying tax. I suspect the guy just didn't record the sale.

When you are paying 10 (silver) or 50 (gold) times the face value I can see the logic on paying tax, OTOH, the US doesn't normally charge sales tax on investiments. Obviously most of the local coins shops sales aren't strictly investiments.

Posted: 11/2/2009 5:49:31 AM EDT

[#35]

Quoted:
The one common exception to this is coin shows. The dealer is there and his time is already spent. He can't use the time to do something else (at least in general) so he is often willing to make a deal. Don't waste his and your time on low ball offers. They know to the nickel what the other dealers will pay them, and they are perfectly happy to wholesale it to the guy across the aisle. Its not unusual for dealers to buy from people coming in the door and sell it a few minutes later to another dealer.

+1000 for coin shows. I would never buy gold/silver from the one "coin collector" that is at every gun show. His prices are always much higher than the highest priced dealer you will find at a coin show. Search online for coin shows in your area, you may be surprised to see how frequently they occur.

[ARCHIVED THREAD] - Source For Gold In Hand

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