If I want to buy gold, how do I do it?

[Northern Piper]

Note: not interested in a debate about gold and the current state of the markets.

Just curious - with the price of gold approaching $2000 an ounce, is there a way for someone with less than $2000 in ready cash to buy gold? Is it available in less than 1 oz lots? Can you buy fractional gold certificates (e.g. - suppose I have $100 per month available, is there a way I can buy $100 worth each month, to get dollar cost averaging?)

[Dewey Finn]

According to Wikipedia, the Canadian Maple Leaf coin is available in 1⁄20 oz., 1⁄10 oz., 1⁄4 oz., 1⁄2 oz., and 1 oz. denominations.

[KneadToKnow]

Four ways to buy gold from thestreet.com (http://www.thestreet.com/story/10774008/four-ways-to-invest-in-gold.html).

[anson2995]

Note: not interested in a debate about gold and the current state of the markets.

Just curious - with the price of gold approaching $2000 an ounce, is there a way for someone with less than $2000 in ready cash to buy gold? Is it available in less than 1 oz lots? Can you buy fractional gold certificates (e.g. - suppose I have $100 per month available, is there a way I can buy $100 worth each month, to get dollar cost averaging?)

There are generally four ways to invest in gold:


1 buy gold bars or coins, from a bank or a dealer
2 buy gold certificates/futures/options, where you don;t take physical possession of the gold
3 invest in a gold fund (http://en.wikipedia.org/wiki/Gold_exchange-traded_product), which is like buying a stock based on the price of gold
4 invest in a gold mining company


eta: KneadtoKnow's link says basically the same thing, only using 10x more words and 100x more ads.

[olefin32]

The American Eagle gold coins is produced in 1, 1/2, 1/25 and 1/10 ounce. Each of the fractional gold American Eagle coins are sold in units of 20 coins each.

[Spoons]

It looks like you might begin by speaking with your bank. Here's this (http://www.scotiamocatta.com/products/faq.htm#unique_products) from ScotiaMocatta, a division of Scotiabank:

Scotiabank has issued 1/2oz and 1/4oz Round Bars and 1oz Round Bars and Wafers.

ScotiaMocatta has also issued 5 gram and 8 gram Round Bars. These products are our most competitively priced Gold products, as well as our most aesthetically appealing packaged product.And while a quick look did not tell me that TD Canada Trust (http://www.tdcanadatrust.com/planning/investing/mkeqae.jsp) offers bullion (though they might), they certainly allow you to invest in gold:

TD Waterhouse offers several investment alternatives for clients who want to take a position in precious metals, but don't want to worry about the storage costs and insurance against theft that are usually required when purchasing gold or silver bullion:

-- Underlying equity/stock....
-- Precious Metal Mutual Funds....
-- Precious Metal Certificates....You may not bank with either of the above, but if those two allow you to buy and sell gold, I would imagine that other Canadian banks (I know you're in Canada) would allow the same thing.

Of course, there is the Canadian Maple Leaf gold coin, produced by the Royal Canadian Mint; as well as bullion produced by the Mint. You can find out where by using the Mint's page (http://www.mint.ca/store/mint/about-the-mint/purchasing-bullion-4500004) about purchasing precious-metal coins and bullion.

[An Arky]

I know you're not interested in a debate, but the undebateable fact is that the gold train done left the station...buying now would be like buying a house at the height of the real estate bubble.

[samclem]

I go to a local Canadian coin dealer. The bigger the better. Banks tend to charge more, in my opinion.

[Desert Nomad]

I know you're not interested in a debate, but the undebateable fact is that the gold train done left the station...buying now would be like buying a house at the height of the real estate bubble.

People said that at $1400/oz but it has done well since then too. AS long as the US prints more money, gold will keep going up.

[An Arky]

Yeah, that's possible, I know. I just think that it's also possible that a year or two from now, it could be back down to <$1000/oz and there will be a lot of hurtin' puppies. It really could go either way...

sorry for the hijack

[Snarky_Kong]

People said that at $1400/oz but it has done well since then too. AS long as the US prints more money, gold will keep going up.

Gold should go up with inflation. There's no inflation.

[Cat Whisperer]

I just wanted to say that I talked with my husband about buying some gold when it was about $600 per ounce - we decided not to buy then. I remind him about this occasionally. :)

[Patty O'Furniture]

You should buy some now, so he'll have something to remind you about a few years from now. :)

[Mangosteen]

Gold should go up with inflation. There's no inflation.


No inflation? Even the government admits there is 2% inflation, which basically means your dollars are losing 2% of there value a year.

The truth is inflation is higher than 2%. Do you buy gasoline? Do any shopping at the supermarket? Buy any clothes lately?

[Jackknifed Juggernaut]

You should buy some now, so he'll have something to remind you about a few years from now. :)

Good advice. You could be 2 up on him, and can't lose - besides your money of course. :p

[Mangosteen]

I know you're not interested in a debate, but the undebateable fact is that the gold train done left the station...buying now would be like buying a house at the height of the real estate bubble.

When exactly was the train at the station? At $300., $1000., $1500.?

What if its on its way to $2000. or $5000.

Do you know something the we don't?

Is the Fed going to stop printing dollars backed by thin air? Is the US government going to spend only what it takes in in revenues? Don't think so.

As far as buying gold goes. Buy at least enough so that you don't pay sales tax. In CA. that means $1500.00 worth. Shop by phone and see which local dealers have the best price. Don't buy by mail. Too much money wasted on shipping and insurance. You pay a premium when you buy smaller than 1 oz. coins. Ten 1/10 oz. coins are going to cost you a lot more than 1 one oz. coin. Buy Krugerrand gold coins; they are the cheapest and well recognized around the world. If you pay in cash, bring ID. Obama wants to know exactly who is buying gold and where they live. Take possession of the gold and hide it somewhere, NOT in a bank deposit box.

You might want to look into Silver, too. MUCH cheaper and just as "valuable" .

http://www.cmi-gold-silver.com/small-survival-gold-silver-coins.html

[Cat Whisperer]

<snip>
You might want to look into Silver, too. MUCH cheaper and just as "valuable" .

http://www.cmi-gold-silver.com/small-survival-gold-silver-coins.html
That's right - just yesterday we were talking about buying copper or nickel (or uranium), too.

[Chefguy]

I go to a local Canadian coin dealer. The bigger the better. Banks tend to charge more, in my opinion.

Less of a premium than on Gold Eagles, also. For some reason, ounce Krugerands are usually less than other ounce bullion coins.

[Lord Feldon]

Obama wants to know exactly who is buying gold and where they live.

Do you have a cite for that claim?

[electronbee]

This place seems to be the cheapest (http://www.golddealer.com/bullionpage.html)

And, the Suisse and Australian bullion are the cheapest by a small margin.

Also, looking at the closing price of gold, and how that price relates to the 100 and 200 day moving averages, I would say that it's going to go down anytime now. Someone, somewhere, is buying a huge amount of it. Or, there is a great deal of speculation like there was with oil a few years ago. The gap between those two moving averages is widening which is a pretty good sign that people will start selling, soon.

It won't tumble down like oil did, but, if you think you are going to buy it and double your money in the near future, I doubt it. I think it will drop to within 2% of the MA. Which could be like 200-400 dollars depending where its at.

[Mangosteen]

Do you have a cite for that claim?

According to the coin dealers I have done business with, Federal Law requires dealers to ask for ID and write down on a special form the name and address of all individuals buying precious metals with cash.

As current head of the federal government, Obama wants to know.

[Dewey Finn]

So what's the number of that "special form?" I want to look it up to see what it looks like and what the reporting requirements are. Note, however, that this is completely irrelevant to the OP, as he's Canadian.

[Jophiel]

A feller on the radio the other day was saying that you're better off buying gold funds than buying physical gold. If/when the bubble breaks, you could lose a lot more trying to unload your physical gold possessions at a dealer rather than having a broker move the money out of the gold funds. I don't have any gold so it's all the same to me but it makes sense; the dealer is going to pay you under the value to begin with, plus probably undercut more if the market is tanking plus the time it takes to actually get your coins to find a guy to make an appointment to buy them could cost hundreds if the market is rapidly sinking.

Unless you're planning on going all Mad Max and bartering gold bars for sheep and moonshine once civilization collapses, what are the downsides of gold funds?

[Mangosteen]

So what's the number of that "special form?" I want to look it up to see what it looks like and what the reporting requirements are. Note, however, that this is completely irrelevant to the OP, as he's Canadian.

All I can tell you is that if one refuses to show a proper ID, the dealer will not sell you the gold.

I'm not a coin dealer; how can you expect me to know the number of some government form?

Call a coin dealer and ask. Providing they are licensed and are doing business according to the law, they might tell you about the form you are wondering about.

I always use a credit card because I get cash back which makes the gold even cheaper, but I was in line one day behind a guy who wanted to pay in cash and heard him and the dealer going back and forth about producing ID. The guy finally pulled out his drivers license and bought the gold.

[Northern Piper]

perhaps samclem can comment on this issue of id?

[Mangosteen]

perhaps samclem can comment on this issue of id?

To be clear, this is for CASH purchases only. I'm never asked for ID when I buy with a credit card. But the government can track CC purchases easily.

I'm in California, but I was told this is a Federal issue so it shouldn't vary state to state.

It may vary depending on how a particular coin dealer feels about enforcing the law.

[Dewey Finn]

I've been doing Google searches to identify what reporting requirement there is when purchasing gold for cash. The sites I've found said that the US government does not require that one report gold purchases for cash, except when you're buying more than $10,000 worth. The IRS instructions (http://www.irs.gov/businesses/small/article/0,,id=148821,00.html) for Form 8300 do say:

"A business must file Form 8300 to report cash paid to it if the cash payment is:
Over $10,000,
Received as:
One lump sum of over $10,000,
Two or more related payments that total in excess of $10,000, or
Payments received as part of a single transaction (or two or more related transactions) that cause the total cash received within a 12-month period to total more than $10,000."

So perhaps the dealers from whom you're buying gold are tracking your purchases in case they exceed $10,000 in a year. But that's not because they're interested in your gold purchases but because they want to know if you're laundering money.

[Dewey Finn]

BTW, that Form 8300 is related to the Currency Transaction Report (http://en.wikipedia.org/wiki/Currency_Transaction_Report) required as a result of the Bank Secrecy Act (http://en.wikipedia.org/wiki/Bank_Secrecy_Act) of 1970, the Money Laundering Control Act (http://en.wikipedia.org/wiki/Money_Laundering_Control_Act) of 1986 and Title III of the USA Patriot Act (http://en.wikipedia.org/wiki/USA_PATRIOT_Act,_Title_III) of 2001. Note that Nixon, Reagan and GWB were president when each of these laws was passed, so it's more than a little disingenuous to say that "Obama wants to know exactly who is buying gold and where they live."

[samclem]

perhaps samclem can comment on this issue of id?

All I can tell you is that if one refuses to show a proper ID, the dealer will not sell you the gold.

I'm not a coin dealer; how can you expect me to know the number of some government form?

Call a coin dealer and ask. Providing they are licensed and are doing business according to the law, they might tell you about the form you are wondering about.

I always use a credit card because I get cash back which makes the gold even cheaper, but I was in line one day behind a guy who wanted to pay in cash and heard him and the dealer going back and forth about producing ID. The guy finally pulled out his drivers license and bought the gold.

According to the coin dealers I have done business with, Federal Law requires dealers to ask for ID and write down on a special form the name and address of all individuals buying precious metals with cash.

As current head of the federal government, Obama wants to know.

There is no Federal law requiring you to show an ID when you purchas gold.

The $10,000 US cash reporting act would be the only thing in play there.

[Doug Bowe]

Whenever this comes up on "Money Talk" Bob Brinker points out every reason NOT to own coins (unless you're a collector) and bullion...which has been well pointed out by previous posters.

He suggests the ETF that's labelled GLD.

Boom! You're indexed to the price of gold and you don't have to pay someone to store it.

[gonzomax]

Gold should go up with inflation. There's no inflation.

You don't shop I presume.

[DrDeth]

There is no Federal law requiring you to show an ID when you purchas gold.

The $10,000 US cash reporting act would be the only thing in play there.

He's correct. Altho in some cases, they are required to log cash sales of $3000 or more. But there's no gov't form.

Just FYI dudes- do NOT, ever, try to get around the $10000 reporting limit. Don't split up deposits or purchases, etc. No one really cares about a CTR or 8300. But when you try to get around a CTR, they file a SAR, and that's bad news.

The act of splitting cash transactions to get around the reporting requirement is a crime in of itself. Don't be stupid.

[Huerta88]

A few additional notes:

(a) try to find the dealer who has the lowest spread between what he will sell the bullion for and what he will buy it back for. (If a particular dealer is not in the business of buying bullion back, it'd seem to be a strong indication that he's a tout and/or that his sale price/load over spot is excessive). I went searching awhile ago and without totally recalling my thought/research process, I ID'd this site (I'm not affiliated, don't receive commission) as a fairly transparent, low-spread option. The thing to keep in mind is that even a non-scammy dealer has to make a profit (commodities brokers, like bookies, generally are agnostic as to the underlying price and make their money by being (vast oversimplification) roughly balanced between one "team" and the other (buyers or sellers here), with their steady profit coming off the spread/vig).

IME and others can correct me, it is difficult to get the spread down much below the low single digit percentages (that is, if you bought a K-rand and sold it back the next second to the same dealer, and gold hadn't moved in that second, you'd lose, I dunno, 6%+/-). That's a fairly hefty transaction cost vis a vis ETFs, common stock, etc. (where you could buy $10k worth on Ameritrade for a tiny fraction of a percent load, i.e., $9 or whatever they charge per trade).

(b) Be aware that not all forms of gold move in tandem with the spot price of gold. Bullion price increases/decreases/premiums/discounts (well, there aren't really discounts for a pure commodity) do not map corresponding increase/decrease/premiums/discounts in collectible gold coins, ETFs, mining stocks, gold certificates. At different and somewhat unpredictable times, for instance, mining stocks may move up much more rapidly, or less rapidly, than spot bullion, and/or you will hear people telling you that numismatic gold coins are a great "bargain" now because they're only 10% above bullion price per ounce and have been 1000% above at other (perhaps also anomalous) times in the past. No one (AFAICT) can predictably predict the ratios between various forms of gold "ownership," let alone the underlying direction of the metal. The gold market, shall we say, also stirs strong emotions and hence not-rationally-based pricing from time to time.

(c) You can buy those fractional bullion coins (those who believe we may need gold as an alternate form of money in the End Times, and let's not debate that here, point out that small gold coins, or even common silver/gold "junk" coins, will be more practical means of exchange than trying to get change on a $2k Maple Leaf). Be aware though that premiums on the fractional bullion will be considerably higher (and spreads may be too) than on the big coins/bars. I.e., a 1/10 oz. Eagle will run you well over 10% the price of the one ounce, IME.

[constanze]

According to the coin dealers I have done business with, Federal Law requires dealers to ask for ID and write down on a special form the name and address of all individuals buying precious metals with cash. (Bolding mine)

Could this have something to do with the similar requirement of banks to report cash movements of up 10 000 $ (or whatever the border is) ... because in the US apparently large sums of cash point towards drugs or other kinds of illegal crime? Because the price of precious metal is high, buying a lot means a lot of cash.

[Huerta88]

I went searching awhile ago and without totally recalling my thought/research process, I ID'd this site (I'm not affiliated, don't receive commission) as a fairly transparent, low-spread option.

Oops.

http://www.goldsilverbullion.com/

[constanze]

A feller on the radio the other day was saying that you're better off buying gold funds than buying physical gold. If/when the bubble breaks, you could lose a lot more trying to unload your physical gold possessions at a dealer rather than having a broker move the money out of the gold funds.

Actually, you'd want a fund which invests in mines where gold is made, because that will stay after the bubble.

If you want a fund because you are already anticipating a bubble bursting, then you are still wasting your money expecting a hit, only instead of loosing most of your money, you loose only part of it.

A good investment however is one where you don't expect to loose in the near future at all.

Unless you're planning on going all Mad Max and bartering gold bars for sheep and moonshine once civilization collapses, what are the downsides of gold funds?

As Martin Hyde explains in detail in the other thread (http://boards.straightdope.com/sdmb/showpost.php?p=14126218&postcount=20), a fund is managed, so you have to pay the manager (plus some other costs). If the revenue is lower than that fee, you loose long-term.

And bartering only works if the civilization is not totally collapse. People will accept Gold if they believe that everybody believes it's valuable. If civilization is gone, people will accept things with an inherent value like an apple or a cigarette, not something that depends on having a value assigned to it.

In addition, outside civilization gold is great for tampering with (Terry Pratchett's funny, easy to understand and fact-based Discworld novel "Making money" describes an ex-con man who spent his time counterfeiting gold dollar coins by clipping, shaving and other things - removing and replacing part of the gold with something else.)
If you barter a bar of gold with a bearded fellow, how do you know that the gold is pure, and not diluted? Do you pull out a test kit every time? (Do you have the necessary experience with one?) Do you go to a Jewelers for assaying? (Do Jewelers still exist in Mad Max world, or won't they be robbed first?) If you want to barter for one apple, a gold coin is too much; a whole barrel of apples might be too much for you to eat before they rot.

[DrDeth]

Remember, fellow Dopers- it's Buy Low, Sell High.

[rbroome]

Remember, fellow Dopers- it's Buy Low, Sell High.

true, but that isn't what makes the (investment) world go round! :)

[What the .... ?!?!]

There is no Federal law requiring you to show an ID when you purchas gold.

The $10,000 US cash reporting act would be the only thing in play there.

A few years ago, shops that buy gold began having to report that to the tax folks......... so that they can catch the sale, just like with stocks.

[samclem]

There is no Federal law requiring you to show an ID when you purchas gold.

The $10,000 US cash reporting act would be the only thing in play there.

A few years ago, shops that buy gold began having to report that to the tax folks......... so that they can catch the sale, just like with stocks.

Can you be more specific. We spend over one million dollars(US) per week buying gold from the public. We don't have to report anything to any "tax folks."

There is a Federal reporting requirement on sales of 25 ounces of gold(Krugerrands/Canadian Maple Leafs), but it excludes American gold eagles.

[What the .... ?!?!]

Can you be more specific. We spend over one million dollars(US) per week buying gold from the public. We don't have to report anything to any "tax folks."
There is a Federal reporting requirement on sales of 25 ounces of gold(Krugerrands/Canadian Maple Leafs), but it excludes American gold eagles.

I guess it starts 1/1/12 unless it was repealed ....... ABC News link here. (http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611)

[Dewey Finn]

Nothing about that is specific to precious metals, and it has nothing to do with the government (or Obama specifically) wanting to track how much gold you purchase or own. The linked article says, "Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year." So it doesn't even apply to those who are not self-employed.

[What the .... ?!?!]

Nothing about that is specific to precious metals, and it has nothing to do with the government (or Obama specifically) wanting to track how much gold you purchase or own. The linked article says, "Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year." So it doesn't even apply to those who are not self-employed.

Sorry...didn't mean to suggest that it was a way to track purchases or ownership. It is a way to track sales and increase the reporting and collection of taxes.

I did think that the change was geared directly toward the investment side of things rather than being lumped into all other transactions so in that sense I was wrong.

[Dewey Finn]

Yes, but it was suggested above
Obama wants to know exactly who is buying gold and where they live. Take possession of the gold and hide it somewhere, NOT in a bank deposit box.
that the president wants to know who is buying gold and where you live, as if he's personally going to show up in his presidential bus and confiscate your gold at gunpoint. Instead, it appears that the government just wants to be sure that income is being declared and tax paid upon it.

[Ambivalid]

http://www.google.com/url?sa=t&source=web&cd=1&ved=0CCYQFjAA&url=http%3A%2F%2Fwww.glennbeck.com%2Fcontent%2Fprogram%2Fcontact%2F&ei=UwBMTtbzO5CitgeDw-W0Cg&usg=AFQjCNF0xhqO6A8ND-pAhUqEqVbb5raWpA


:)

[postcards]

http://www.google.com/url?sa=t&source=web&cd=1&ved=0CCYQFjAA&url=http%3A%2F%2Fwww.glennbeck.com%2Fcontent%2Fprogram%2Fcontact%2F&ei=UwBMTtbzO5CitgeDw-W0Cg&usg=AFQjCNF0xhqO6A8ND-pAhUqEqVbb5raWpA


:)

If there was a specific part of this page you wanted us to see, you'll have to do better than this. (And for those who don't want to click, it's the contact page of the Glen Beck website.)

[Ambivalid]

If there was a specific part of this page you wanted us to see, you'll have to do better than this. (And for those who don't want to click, it's the contact page of the Glen Beck website.)

Nope. I just wanted people to see "Contact Glenn Beck" as a (humorous) response to the question in the OP.

[samclem]

A few years ago, shops that buy gold began having to report that to the tax folks......... so that they can catch the sale, just like with stocks.

Can you be more specific. We spend over one million dollars(US) per week buying gold from the public. We don't have to report anything to any "tax folks."

There is a Federal reporting requirement on sales of 25 ounces of gold(Krugerrands/Canadian Maple Leafs), but it excludes American gold eagles.

I guess it starts 1/1/12 unless it was repealed ....... ABC News link here. (http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611)

As it currently stands, the act will be enacted Jan. 2012. I personally doubt it will make it. Probably the SCOTUS will take it up later this year.

[73india73]

I do not understand all this Talk.? GOLD how to buy prices going to etc/ The False Obama wants to know so "ID is needed.. NO not TRUE, you walk in a shop or go online and Buy it they do not care who you are how much you Buy/ Infact #1 is your Privacy... I am Ex Hedge Fund trader and specialize in Metals...

I since 1989 would buy Gold Platinum Silver Palladium "well over 1000's of Ounces of Yr of each metal Graded and non graded... Never 1 x did any-one ask for SS# etc and they will never..( well if buy from ScotiaMocatta) but that is BANK and must have ID as like opening a account in Canada... But then they destroy all ID credentials... If 1 knows the order of Gold ban was lifted in 1974...

If want notice ask Monex or Us Gold Bureau for FREE pack on buying metals and include the notice... Even when order over internet SHIPS FREE/ unless buy small amount, and YES many have a DCA program....

I like buying only Maples for Gold and old world Fractional as Dutch Guilders has 1/5th ounce Gold and Fine coin Now as of 2012 for a 1875-1933 is under 360$ Then have Sovereigns almost 1/4 ounce less then 400$ 20 Francs as Rooster or Angel or Swiss Helvita 338-360$ Ducat 1 and 4 1 the 1915 restrikes are almost 24kt pure and more then 1/10th ounce .1106 and 200-208$ So say get 5 10 Guilders Pay for basic 1 ounce coin but have 5 coins worth much more as have Historu and Rare...

Look at 100 Kurush from Turkey/ Ottoman empire has basic 1/4 ounce and well must convert from Islamic clander date as go by 1338 which is 1941
Basic conversion is add 3% to date shown plus 620 and have the AD calender/ so do not be ripped off on ANCIENT COIN "many post and date 1337 or 1228 they are late 1890-1941....

Silver see as going Highest by % wise / Think % gain not Dollar Gain or increase...

Like buying a soda from gas station same soda 1 place ask 1$ other 1.25 well say only 25cents NO 25% so say have 2 equal 100k homes would you pay 125k for the same 100k Home?? Well if do per soda then (not thinking Logic on "making or saving money"******

Be smart and do not listen to RUMORS no 1 is watching or cares/ "just walk in a Coin Shop with 100k they will be handing you coins like water and if in same state 99% will not Tax you or even make receipt... On Intrnet NEVER they deliver descretly by US mail or Fedx etc Brinks if say so for large order....

But what is TRUE is Buy when can and often and Diversify Coins and metals I say all types is best from Old double Eagles to the 1/4 5$ Indian head to 2 pesos 5 pesos 50 pesos Guilders 20/100 Francs Swaiss Helvita all 20 stamped are .1867 Gold.. Russian 5/10 Rubles the Kurush panda kangaroo, Maple #1 2 rand 1 Rand and then Kruggerand was made in 1967 and contains the Gold it says plus 10% copper for duabilty....

Platinum another Maple buy or for any metal Bars are OK to but do not pay much premium as will never Be rare and closet to spot as ever/ Made for quick flips or easy sell...

see 3.3 grams of gold is in a 1/10th ounce Gold and well can go from there on ALL metals so when buy bars know what is equal But Bars are 24kt coins VERY FEW but Ducat and Maple is PURE.....

I have much to add and Consult per metals and have newsletter/ but not here to sell you something my newsletter has been out and by subscription BUT CLEARING UP THIS MESS ON BUYING and SELLING....

Oh and for Funds NO/ I use only for Hedging with Options and to enhance returns..

So I will buy Gold silver platinum Palladium even if going down as I have PUTS on the SLV or GLD or short it also... But with expense of ETF no and get no REAL ownwership in the metal

Only Sprott Funds have a fund that allows for Yes physical ownersjip in units and swissmetals SMA and well many others, but many sell over NAV so a Unwise way to buy..

Rounds are best and coins Plus per silver the pre 64 and war Nickles/ as far as war 5 cent pieces 40/ or 2$ roll is 2.3 ounces of Silver... So that is how I like fractional buys...

Coinflation is place to go for MELT value of Junk silver... Think % not $ returns and know Troy ounces and to scrap DWT conversion and 14kt 18kt 24kt and grams.. Note DWT to grams is 20 is key/ and 14kt is basic more then 1/2 pure .583 or so many guides on Internet... But try say APMEX to get idea or just search what is gold content of x coin...

Fractional world is best buy in my eyes for Gold.. Plys is thinking Global disater do you not WANT/NEED a Global variety... buying Eagles is very Narrow minded.. and fools game to me, and do-not Pay-up for SILVER ART, It ALL melts the same I say.. So lowest cost PURE is way to go...:)

Mike/ right now even Ebay has per Libertcoin a Fine deal on PCGS graded new coins and PCGS in my opinion is ONLY service to TRUST and FREE for subscripion to the Graders as NGC also but NGC 70 is PCGS 69... Any other grader forget it those 2 only but I bias PCGS but to each there own and 70 is 70 1st STRIKE is scam if 70 a 70 does not matter if says 1st strike but any willing to pay 2x for the words/ take to dealer and get same $ for same 70..

Well I will HELP if any need it/ not sure if get back here but can ASK at my e-mail
and I am part of caddyshackadvisors/ but site down for re=do, and do-not need advertise to break any rules but think can say Euro-pac Matt is hands down best dealer have worked with and good for large buys... Smaller look for Goldeneagle coins Apmex "just search a coin and will find good dealers NWT mint has monthly program and many have Free shipping if do 150$ per month or more so could do say 5 Silver Maples per month and FREE plus Gold 1 Ducat which is more then 1/10th ounce and get Free shipping and note a near PURE GOLD 1915 Austrian Coin....

Good Luck
Mike

[moriah]

According to the coin dealers I have done business with, Federal Law requires dealers to ask for ID and write down on a special form the name and address of all individuals buying precious metals with cash.

As current head of the federal government, Obama wants to know.

So, then, Bush wanted to know too, right?

[73india73]

It is NO ID etc/ I have been buying since 1989 over 1000's of Ounces each metal per YR. Your Id is Not needed Ok/ #1 is not exposing your ID Euro-pac talk with Matt ok/ No firms ask for ID or SS# as to protect you/ the 1974 act is over and legal to own buy etc..

For monthly buys program best well/ My best source does Gold at 200$ per month and Silver at 150$ and FREE SHIPPING if do monthly Buy / Look for world gold as Ducat .1106 almost pure and tad more then 1/10th ounce coin and 23/3/4Kt Pure Maple is purest coin.

Now 10 Dutch Guilder is near 1/5th ounce 1875-1933 and best value actual gold is .1947 bt get Numismatic Rare potential the look at the 20 Francs or swiss 20 at .1867 Gold or Sovereign per world alost 1/4 ounce yet not pay as much for 1/4 ounce plu have Upside potential for rare coin.. Bars are 24kt but will never be Rae// Do not go for Silver art coins as/ I say It all melts the same so paying 100$ just beacuse Pretty is??? when 1 may get 2 Maples for that at cuurent cost..
Maple best in my opinion per purity and also Libertad from mexico/ Eagles overpriced and to many made "Think global" If buying metals for Hedge/ world collapse doesit not make sense to have global portfolio?

Some sites have Global gold fractional portfolio to Buy all at 1 x/ I like the world fractional gold best.. I am Ex Hedge Fund trader in precious metals/ and Hedge with GLD /SLV and PLT and Pall for Platinum and Palladium....

Funds no good best is buy the metal and hedge with Options in my opinon/ So all this ID talk is non-sense unless buy from Bank in Canada Scotia Moccata then ID but shred immediatelyonce know you are human as with Metals and Diamonds your protection is #1 and no place use's SS# or any form of ID... If walk in with 200k a dealer will pull out as much metals as can sell you and give you huge deals Or per internet FREE SHIPPING..
NWT has monthly Buy but place in Montana is Free ship with monthly buy so say want 5 Maples and 1 Gold Ducat near 200$ for Ducat and over 1/10th ounce/ Note Troy ounce 31.113 grams Not Andrpois ounce which is 28 grams....

So know your Grams and if sell scrap 14 18 10 24Kt and DWT (trick per DWT is #20) find many sources per internet and think in % gains/loss not $ OK

Silver has out-done Gold in % over last 10yrs/ and expect will continue but Gold should hit as of late 2013 2430 per ounce and Silver by 2017 590-720 per ounce..

Platinum is a 5k plus by 2017 with Palladium close behind in % gains..... MY opinion

BUT DIVERSIFY is #1 key and Grading PCGS only.... look for Gold Sovereigns and Ducats 20-100 francs and Guilders(dutch) also 5/10 Roubles for Gold from USSR

any ?'s happy to help but do not know site well/ just wanted to help with ?'s

[samclem]

This is an old thread, revived by new member 73india73

I won't ban you 73india73, cause I'm sure you're not a bot, but you really must try harder to post coherently.


Thread is closed.

samclem, moderator