Anybody here invest in gold or silver. I'm looking to start putting some of my retirement money into gold and silver.(God knows enough of it is invested in cold blue steel and brass!)

Should be a good hedge on inflation.

any good website out there?

Not a coin collector so i need some help.

Thanks

I'd also like some info..

Does anyone have any experience with Monex.com ?

Would you trust them (or any dealer) enough to send 'em $$ prior to receiving the product?
(in the range of $25-50k)

My logic is not to use gold as an investment vehicle.  
I'd like to have a moderate amount on hand  (mostly small denominations) should the dollar become valueless. (if some crazy terrorist creates a total TEOTAWKI situation -- ie:  chem/bio, suitcase nuke, etc..  takes out NYC completely)

Damn..  I should have paid more attention to this stuff during Y2K.  [:D]

I don't have enough money to invest in anything except ammunition.

I would look at the Canadian Gold Coins. Their Gold coins are the purest you can get I believe.
Of course along with the U.S. many countries have the Gold coins, i.e., South Africa, Australia, China, etc.

Only silver coins I have are old Silver dollars and the Russian 1980 Olympic Silver Coins sets.

Individual coins from a dealer are not a good investment decision because of the premiums they charge over spot price.

Unless inflation looms large to you, I wouldn't do it.

If it does, go for the uncirculated coins.  Stay away from "proof" coins.

RE: Canadian Coins:
Despite their lesser quality and lower gold content, do you think that possessing American Eagles would be an advantage over the Canadian coins since they are actual US currency?

More for purchasing / bartering during times of economic collapse --- NOT for investment value.
-----------------------------

Currently, all of our funds are tied up in our home (no mortgage), and in the market (wasn't CSCO @$70 a great deal?)  [>Q]

I'm beginning to feel that diversification of assets is a prudent thing to do.   (I'd only do about 2-5% of our total net worth though)


Yeah...  I am turning into a paranoid nut now.
I used to laugh at my father's friends who used to read and preach the Howard Ruff "Impending Collapse" mantra. (remember..  back in the 80's)

Now I wanna start hoarding toilet paper, beans and ammo.  [:D]  

Last time I lookes you could still get Silver Eagles by the bag through some of the dealers in the coin world magazine. Silver and gold are only a deal if you buy in BULK. Single coins like I buy for my kids are a rip..

Ropes

http://www.kitco.com/market/ also offer pool accounts.. I buy for myself and the kids so I know I am getting screwed. Gold and Silver have not been a recommended investment for some time, but my 401k sucked this year so what do I know..  [rolleyes]

Ropes

In my opinion if you have any sizeable investment to make...make it in Machine Guns.

They will grow in value every year and at a rate that can't be touched by any other static investment.

And if the SHTF develops...you'll NEED the machine guns.[50]

Kinda hard to run while carrying heavy bags of  coins at that time, eh?...[:D]

KJay

Well, from what I've learned if your going to do the thing with coins its best to stick with gold.

Several coin dealers have told me platinum may be nice but there is always more demand for gold.  Its best to stick with coins that are worded in English and measured in full ounces as opposed to half's, quarters, tenths etc etc.

The 3 most popular gold coins are the American eagle the maple leaf and the Rand
(kogerand sp)?

Just for information sake you don't have to go through a dealer for American eagles you can purchase them directly from the US mint online.

at WWW.usmint.gov

If you are talking very large quantities consider purchasing boullion through an investment firm. I know Fidelity does this. They will hold and insure it. They are also reputable and you shouldn't have to worry about getting ripped off. Keeping 25K worth of gold lying around may not be a great idea. Additionally, in the event you decide to sell for whatever reason you may find it very difficult to sell those coins rapidly, esp in bulk. With an investment firm it takes a phone call. Keep a small amount of coinage and invest the rest as I recommended. Of course, diversification is ALWAYS a good idea.

FDR confiscated bullion.
If it happened once it could happen again.
Collector grade gold coins and silver rounds is the way to go.

Ten Commandments For Buying Gold & Silver

I.  Always take delivery

II.  Never buy premium if you can avoid it.

III.  Buy bullion for business, numismatics for fun.

IV.  Buy silver first, then gold.
-
V.  Buy small gold first, then large.

VI.  Never buy exotic coins or modern rarities or anything you don't understand.

VII.  Know your dealer.

VIII.  What governments can't find, they can't steal.

IX.  Never swap bullion coins for U.S. $20 gold pieces.

X.  Never break the law.

[url]http://www.the-moneychanger.com/html/metals_commandments.html[/url]

I stand corrected, Submariner.

Ropes4u:

If you are going to invest in gold or precious metals, it is best to invest through a mutual fund. Some top funds are Amer. Century Global Fund (YTD +30%, 5yr. -14%), Fidelity Select (YTD +16%, 5 yr. -12%), and Vanguard (YTD +9%, 5 yr. -7%). High liquidity, little to no buying, selling, or storage costs. Also good idea to have $1000 face value of 90% silver coins, currently selling at around $4400, just for a rainy day.

ALWAYS, ALWAYS, ALWAYS TAKE DELIVERY!!!!

-Educate yourself!!!!

Try Hannes Tulving.They will treat you right!

[url]http://www.tulving.com[/url]

If youre looking to buy gold as an investment, I'd stay away from gold coins.  You're not only paying the price of the gold but also the price that it is an antique coin... like jewelry, you not only pay for the price of the gold but also for the craftsmanship.

If I were buying gold for future investment with possibility of using it barter/purchase things in a SHTF scenario, I'd buy it from a DENTAL SUPPLIER... We (dentists) buy our gold in "Penny Weights", 20 Penny Weights = 1 Troy Ounce.  With gold roughly selling for about $300.00 US, each penny weight is about $15.00.

These penny weights come in flat/thin squares so they may be easily melted into liquid so as to cast... I imagine these could be easily used as currency in a SHTF scenario as they are stamped as gold and are small enough to be used for smaller purchases...

In other words, I'd rather have 20 penny weights than ONE gold eagle coin worth $300 bucks.  Easier to buy things in smaller denominations.

M.

Gold and Silver are not necessary a good investment.  In the 80's gold is worth about $300.00 or more an ounce, now it's more like $280.00 or less an ounce.  If I have the money, I will invest in diamond or war bonds.

For gold coins ..gold stock..and PM investment advice  the best web site for info and discussion (in terms of ease of use) is by far
[url]http://www.kitcomm.com/cgi-bin/comments/gold/display_short.cgi[/url]
and they even talk about guns..and politics.. in a format almost like instant messenger

Buy 1 kilogram bars
they cost around 11 grand each, but its worth it,
and you can get a bigass vault, and call yourself gold finger.

Wow. Thanks for the info guys. Thats what I love about this board. Ask someone's opinion and they will give it to you!

I'm in the research stage now. I would be nice to give the kid something for Christmas besides the usual toys. In 20 years they will have a little something besides a pile of broken plastic pieces.

Boy I can't wait to see the look of surprise (horror) on her face. "NO YOU DON'T EAT IT" says Pop. HAHA

I invested in Gold coins once and lost my ass.  I ended up paying $78.00 for a $35.00 worth of shit.  I would look to some other kind of investment.  I am not a pro but I learned my lesson.  Good luck......

You're gonna get screwed if you're cheap about it, Goto a reputable gold exchange place, and do the purchase in person, Find out what the current gold prices are, the exchange will have a commission they charge, and then you are set.
Spend at least 1 grand or they'll treat you like a fool.

"I was only looking to have 10% of my portfolio in precious metals, but now it is 90%"

I don't know who said it, but the description fits me. The stock markets have hosed me completely. But my silver and gold is up about 12% for the year.

Silver is historically absolutely cheap. In 1946 the US government had 4 billion ounces of it. The US Mint was anticipating the need to buy on the open market for Silver Eagle and proof coins. They are completely out! No more government owned silver! This has not happened before. The price spike in 1980 to $42 per ounce unleashed a huge glut of silver onto world markets, maybe as much as 2 billion ounces, that has now been consumed (world silver production is about 110 million ounces per year short of demand). Production is falling too, 40% of all silver is a by-product of other metals, like copper, zinc and lead. The prices of those are too low for many mines to stay open, zinc is down to 43 cents/lb.

Gold is going to start moving soon, but it will not move nearly as much in % terms as silver. It is politically important to suppress gold's price, a major move to gold would reveal a distrust of US dollars (and inflation fears). They do not want that to happen, and the world's central banks have 27,000 tons of gold to sell if they need to...

So I buy silver. Everything. I have 100oz Engelhard bars, 10oz A-Mark bars, 1oz Engelhard Propector rounds and Silver Eagles. I also have some 90% silver coin. And it all sits in the safe with the AR-15s. I am regretting not buying a larger safe, and it isn't because I am buying more guns.

Look at [url]www.tulving.com[/url]. They sell over the internet, and their prices are the best I have found. I have bought all my gold and silver from them, apart from a little I got on eBay (don't laugh, if you are patient you can get some great deals. I picked up a 100oz Engelhard silver bar for $481 last week).

Gold prices for bullion coins are usually not too much above the spot price, but these are not normal times. Five days before 9/11 I bought Austrian Philharmonics for $5 over spot from Tulving, now premiums are $10-15 over spot, more from other dealers. They have been running out of inventory of various items since the attacks, and you never know if they will run out of what you want. I ordered more 100oz Engelhards on Saturday, they are out tonight.

I may be a dreamer, but I think silver at $20-30 per ounce is not out of the question. Soon.

Listen to what you're saying, man...

Yes, gold is still worth today more or less THE SAME (in terms of dollars) than is was decades ago--just as your statement suggests...

THAT IS THE POINT! -- and you, like so many, are missing it!
Now think, how much more can you purchase with today's $300 cash greenbacks in the 1970's, even the '80's???
I guarantee you, far more.
Gold is your hedge. Nothing fancy, like 10% or 20% growthor whatever the wind blows in. Just a good old fashioned value retention like it always has done. Nothing else can match it.

Buy Eagles. Buy as many as discretionary income allows in 1/10 oz denominations. The is no more secure nest egg than this. That is my recomendation.

OH, and as for diamonds, two words -- WATCH OUT!!!!!!!!!

Sounds like you've been smoking some of BCBUD's BC bud, bud.

So, you're trying to explain that gold is a "great hedge" when it's lost half its value due to inflation -- and lost even more due to lower demand for it -- over the last 20 years?

Sheesh.

Seems everyone's talking about either buying coins or bullion. Not the right way to go, in my opinion. Sure, a small stash is advisable. And yes, I agree that the investment potential for gold is well-advised. Just one thought to those buying gold coins or bullion. Look at one of the web sites that buy and sell gold, silver, and bullion. Their buy price is considerably lower than the spot price. If you need cash, you will take an instant loss. You have to stay liquid, and no better way than gold mutual funds. These funds are inversely related to stock market direction. Just because the stock market is de-bubbling, doesn't mean gold stock funds will come down also. The price move in these funds is exponential in relation to the price of spot gold, as it discounts the future going out 6 to 12 months. In other words, you get more bang for your buck. Just my .02.