Posted: 12/26/2008 12:10:09 PM EDT
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Where is a good place to buy gold?
Coins or bullion? Is it ok to buy online? How do you know if its real and what its worth? |
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Where is a good place to buy gold? Coins or bullion? Is it ok to buy online? How do you know if its real and what its worth? answers YES YES, from reputable firms Reputable firms with centuries of proven track records want to stay reputable for the coming centuries http://europac.net/investment_perth.asp It is not to late... with all the printing of Money, Gold shall increase in the price of dollars, Law of Austrian Economics, anyone tells you otherwise does not know how economics work... Gold preserves purchasing power... Printing money destroys purchasing power... Gold is money, dollars are a fiat currency, paper, backed by nothing... Gold is and has been considered money since the beginning of man... Why, Gold took great pains to dig up... does not deteriorate.... represents human labor in the form of a precious metal accepted by everyone until the great federal reserve system of 1913 IF gold is not valuable, why does the Federal Reserve System own 40+% of all the gold in the world? Coins for your pocket, bars for the mint, away from the greedy US Gubment and the Federal Reserve.... I truly wish people would read what really happened to the Great Depression era... We are doing the exact same thing.... Gubment interference of the market... Dont kid yourself, once you get guns, ammo, food and water... Gold is next on the SHTF list of goods needed |
| My local coin and pawm shop has dozens of ounces in all fractional sizes usually 10% over spot. Just look around and put some of that worthless FRN's fiat trash cash into real money silver and gold. In the history of mankind it has never been worthless as cash. And it will preserve your wealth!!! |
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Stick to mainstream sources for metals if you're just getting started.
Decide if you want to go after bullion or coins. Coins can have a higher numismatic value than bullion, but you'll have to do a lot more research to find good deals. Bullion can often be had cheaper than coins. Decide if you want physical metals or stocks - again, two different types of investing. Physical metals go for a "premium" - the going "per ounce" price plus a percentage. You'll hear it referred to as "$xxx over spot." Look for the lowest price over spot for the best deals. Right now, silver is a better deal than gold, and at less than $11 per ounce, you have a lot of room to find the right amount for you. A good deal for silver would be less than $2 over spot per ounce. Right now, a well recognized company called American Precious Metals Exchange (APMEX) is having a sale on gold and silver. They're probably your best bet at the moment. I've had nothing but good experiences with them. Check them out, see if you find anything that interests you. I will say this: do not rely on metals - or any one kind of investment - alone. Diversity is the key to success, and metals can be very volatile - especially gold. ETA: I've had nothing but good luck ordering online with APMEX, and they take credit cards unlike some metals suppliers. |
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If you are simply looking for a place to put your money that is backed by gold, look at the ticker symbol IAU. The investment allows you to put your money into gold without having to take delivery or ship it when you decide to get out of the investment. My investment-fu is weak. How does this work? You put money into a fund that buys and stores the gold for you? |
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If you are simply looking for a place to put your money that is backed by gold, look at the ticker symbol IAU. The investment allows you to put your money into gold without having to take delivery or ship it when you decide to get out of the investment. My investment-fu is weak. How does this work? You put money into a fund that buys and stores the gold for you? Never, ever, let anyone hold the gold for you. Gold defaults have happen before and are about to happen again on the COMEX soon. Take physical possession of your gold or silver and keep it in your gun safe or at a safe location. If a market defaults on gold then a rush will take place and someone always comes up short when they try and get their gold. Never get talked into funds or bonds backed by gold when the gold is stored off site in some remote location. |
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If you are simply looking for a place to put your money that is backed by gold, look at the ticker symbol IAU. The investment allows you to put your money into gold without having to take delivery or ship it when you decide to get out of the investment. My investment-fu is weak. How does this work? You put money into a fund that buys and stores the gold for you? Never, ever, let anyone hold the gold for you. Gold defaults have happen before and are about to happen again on the COMEX soon. Take physical possession of your gold or silver and keep it in your gun safe or at a safe location. If a market defaults on gold then a rush will take place and someone always comes up short when they try and get their gold. Never get talked into funds or bonds backed by gold when the gold is stored off site in some remote location. What he said. If TSHTF, and if someone else is holding your gold, you may as well kiss it goodby in many cases. Don't take the chance. |
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Quoted: It is purchased like any other stock. You can read a little on it here. I don't really want $50, 000 worth of gold sitting around my house. As with any investment, talk to a financial adviser if you don't feel you understand the investment. There is good advice available here as well as big doses of outright paranoia.Quoted: If you are simply looking for a place to put your money that is backed by gold, look at the ticker symbol IAU. The investment allows you to put your money into gold without having to take delivery or ship it when you decide to get out of the investment. My investment-fu is weak. How does this work? You put money into a fund that buys and stores the gold for you? http://moneycentral.msn.com/investor/partsub/funds/etfsnapshot.asp?ETF=true&symbol=IAU |
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Where do thy show what quality the gold is? ie 24kt 18 kt etc... |
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Where do thy show what quality the gold is? ie 24kt 18 kt etc... Two forms here: bullion and coins. Bullion should be marked ".999 fine gold (or silver)" somewhere on it - be suspicious if it's not. That's 99.9% pure gold/silver, and as good as it gets. Industry standard. Coin percentages vary, and are usually also referred to in percentages. That's going to take some research into the specific coins you're interested in (google around a bit). Gold jewelry is referred to in karats. 24 Karat is 99.9%, 18 Karat is 75% gold. The alloying metal is rarely mentioned, but effects color and hardness. 24 Karat jewelry is very soft and prone to wear and easy damage. "Sterling" silver is ~92% silver, and is typically what silver jewelry, silverware, etc is made from. The alloy makes it much more durable. Bottom line, you'll have to research a little bit on the coins you're interested in to determine the actual gold content, and be advised that you could be paying a premium over it's bullion value due to its numismatic value. |
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Gold mutual funds (more volitile than gold itself) would be a partial way of being exposed to gold without having to find, buy & store coins And, it has better capital gains treatment than ETF's. (taxes are not as high when you sell at a profit).
I like a diversified plan of 1/3 ea. of cash, bullion coins (agree that gold eagles & Krugerands are the best) & gold shares (mutual funds). |
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If you are simply looking for a place to put your money that is backed by gold, look at the ticker symbol IAU. The investment allows you to put your money into gold without having to take delivery or ship it when you decide to get out of the investment. If you don't hold it, you don't own it. Stay the heck away from gold derivatives. |
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Keep your money out of mutual funds, most have had massive losses the last year. Keep your money out of the market because Jan. will bring a 10-20% smack down.
apmex.com buy any gold one ounce coin or bar they have in stock. Eagles, Maples, Krugs, bars... if it is sold on that site you'll be fine. Remember you cant eat gold so if you have no food dont be out buying metals. |