Quoted: Ive thought about investing in some precious metals at some point but hd a couple questions.
1. I have seen where you can buy it in various sizes fom coins to bars but hoiw easy is it to really get?
2. If i decided to sell it how could i recoupe my money when someone buying it probably wouldnt offer me its full value? I know a pawn shop or jewlrey store wouldnt give you full value.
3. If you can get full value for your metal of choice where do you go to sell it?
4. Lastly how liquid is it really? Seems like it would take some time to get rid of it if you really need to but didnt want to lose too much on it.
Thanks and let me knoiw what you can?
Major |
I assume we're talking about physical holdings here...
1. There is probably a shop that does significant business in precious metals somewhere near you. If not, you can try kitco, APMEX, COMEX, ebay, etc. Ebay can get you some great deals several dollars under spot, or you can get screwed.
2. A dealer will usually sell junk coins a little over spot, and buy a little under spot. Maybe 50cents either way. That's how they make money. Eagles and the like have a higher premium to them, $2-2.50, but that's also factored in when selling. You have to factor the "spread" into your thinking when buying and selling.
3. You'll probably never get "full value" as in spot price, but you'll get what it's worth fairly easily.
4. Gold and silver are very liquid, and very easy to get rid of. Probably the only things more liquid are cash, and ammo listed on the ARF EE boards.
ETA: You shouldn't think of precious metals as an investment. You can get burned pretty bad trying to buy and sell on the highs and lows. And you'd better be lucky rather than good. You should be buying in for the long term (a decade or more). PM is a store of wealth, and a way to preserve buying power in a bad economy. It's not about how much money you're going to make, but how little you're going to lose.