Posted: 7/25/2010 11:01:28 AM EDT
|
Have any of you bought physical gold?
If so where is a good place to do this. Interested in online and local area. Especially local area. |
|
Gold goes up and down, its a very risky investment, to make money you buy when its cheap and sell when its high, gold is at a peak right now, a lot of experts say that its in a bubble that is about to burst, and anyone buying now could easily lose their shirt, this is the worst possible time to buy gold, gold buyers at this time will almost certainly lose money. The reason the airwaves are saturated with ads selling gold is because a lot of gold investors are cashing in, selling what they have for a profit. Buy cheap, sell high, this is the time to sell gold if you have any. |
|
Quoted:
Gold goes up and down, its a very risky investment, to make money you buy when its cheap and sell when its high, gold is at a peak right now, a lot of experts say that its in a bubble that is about to burst, and anyone buying now could easily lose their shirt, this is the worst possible time to buy gold, gold buyers at this time will almost certainly lose money. The reason the airwaves are saturated with ads selling gold is because a lot of gold investors are cashing in, selling what they have for a profit. Buy cheap, sell high, this is the time to sell gold if you have any. The problem is I don't have any. The only metals I have right now are lead and brass!!! 
|
|
probably not the time to buy gold....the old adage..."buy cheap, sell high" applies here.
And then, just what will you do with it  ....buy ammo and toilet paper?
Oh well. I do own some gold.....best to shop around and do a bit of research. All gold bullion ain't created equal....1 ounce of gold doesn't neccessarily cost the same...depends on what it is. Sometimes you might be able to buy 1/4 oz Austrian 'philharmonics' cheaper than 1/4 oz Buffalos or Maples. Some gold bullion is pretty much pure gold, others are alloyed to provide a more durable coin....all should contain the advertised amount of gold...and watch out for 'proofs'/proof coins....often these are gold clad...not gold...just plated collector coins. Also the original old gold coins (soverighns, Francs, Eagles, etc)sell for more than newly minted gold...historical/collector value I guess. Know what you want, and shop around. |
|
If you buy gold locally you will pay a sales tax on it. 8.5% in Edmond at APMEX if I'm not mistaken.
If bought online you won't pay tax. They won't take a credit card except to hold it a the current price. You'll have to get a bank transfer or personal check to them, then wait for them to send you your gold. Don't make the mistake of buying all ounces. You can buy American Eagles in half, quarter, and 1/10 ounces. American Eagle silver dollars are cheaper on line too. As far as this not being the time to buy gold, it was that way last time I thought about it. A current American Eagle was $950. Now they're $1250. I bought a few thousand dollars worth on Sept 11, 2001, right after they announced the WTC disaster. I paid $325 an ounce. I still have it. Buying gold and silver is a gamble. Don't put all your money, only a percentage, into gold or silver. 10% is just insurance against a total monetary collapse. Buy it and hold it. Don't speculate in gold and silver or you'll get your financial clock cleaned. |
|
one thing you can do is check out the pawn shops for old gold neckless/jewerly,then well it is kinda frowned upon and could get ya in a little bit of trouble,but there have been quite a few people now that take that old jewerly and melt it down into 1ounce bars. |
|
Quoted:
one thing you can do is check out the pawn shops for old gold neckless/jewerly,then well it is kinda frowned upon and could get ya in a little bit of trouble,but there have been quite a few people now that take that old jewerly and melt it down into 1ounce bars. Why would this be frowned upon? Who cares what you do with it after you purchase it? Explain please? |