How to Buy Small Amounts of Au, Ag, Pt via the Net or Phone?

I am interested in buying some silver, gold, and/or platinum bullion and was thinking it might be possible to do so with a minimal commission over the Net.

What I have found, after a while of searching, is a hodge-podge of places that either only offer in lots of $10,000 and up, “Error 404”'s, sites that say you can buy online but then ask you to mail a personal check or money order, etc. In fact, the crudeness and incorrect info on many sites I have researched is quite alarming, and does not inspire confidence.

I also know about the “E Gold” site; I am not interested in that. I want the metal.

I am interested to know if anyone can recommend a place to buy small (under $1000 per purchase) amounts of bullion (not old/rare coins, just the metal) that:

  1. Will let me order online.
  2. Take major credit cards.
  3. Has a reasonable commission and shipping policy.
  4. Has some evidence of reputability.

Thanks in advance.

Try going here. They do sell bullion, bars and round medallions as well as coins and there is no minimum order.

http://www.goldinvestment.com/gold.asp

Only downside is they do not do CC payment, but they will do Wire Transfers.

Here’s a site with some decent links too that might lead to something.

http://www.financialsupermarket.com/pm.shtml

Coldfinger Coin and Bullion Sales will accept payment by credit card, but only from those who have a history of dealing them. I have dealt with them once; they were competent, honest, and reasonably quick, but of course one transaction does not a track record make. YMMV.


#include <stddisclaimer.h>

I presume that you have looked at the on-line information presented at the e-gold Directory. If not, you may wish to do so. Remember that you can get physical metal from them.

I have dealt with local coin and bullion shops, but, unless you’re planning a visit to CT in the near future, this information will not be of any use to you.

What kind of silver, gold, and/or platinum?

1oz bars of it? How about a nice gold coin? they have set rates based on the market value. I wouldn’t want to buy it on the net myself though.

Here’s a place that will accept CC and carry bars as well as coins:

http://www.mjpm.com/

You might try these people. They have all three metals, in several forms. They take credit cards, and you can order online. If you don’t like them, try searching for “jewelry supplies” “platinum” on Google. Jewelry suppliers are likely to be your best source for small quantities, and they sell the metals in easily-workable forms.

Can US banks sell Au coins?

Yes, US banks can sell(and have sold) gold coins. But you will pay dearly. In general, their markup is rather too high.

Anthracite, assuming you live in a decent sized city, call around to 2-3 coin dealers, ask how much over spot they charge for a one ounce gold coin(American Eagle, Canadian Maple Leaf, or Krugerrand), ask how much over spot for a 100-ounce silver bar, ask how much over spot for a 0ne ounce platinum bar or coin.

Go visit the one who has it in stock and offers the lowest price. And take cash. Coin dealers prefer cash as they are many times only making $10-20 profit on a $300-600 item. Can’t afford any mistakes on this profit margin. You will also have annonimity with cash. Save your receipt for the day you may wish to sell. While you hope you have a profit, you could have a loss and may write it off you taxes. Gotta have proof.

Well, sam, I don’t know why she wants it. I dont see any mention of investment. Shucks, last time I wanted some bullion I just went to a stock house & they can give you 1000 oz on paper, which is easy to store, at an extrememly low commisssion. Jewelry supply stores are relatively fair priced for metals, they can also cast things for ya.

If you have the mindset that makes you start wanting to own gold bullion, you probably would want to walk in a reputable jewelry store and pay cash. Gold hoarding is very taboo with the government. They do keep track of people that buy it (bars as opposed to collector coins) and want actual posession of the gold, as opposed to egold or gold futures or certificates or whatever.

What government? Surely not the US? Do you have a cite that there is legislation in the US that directs the government to informally track gold purchases? :confused:

What government? Surely not the US? Do you have a cite that there is legislation in the US that directs the government to informally track gold purchases? :confused:

Umm, you wouldn’t want to come up with some cites to back up your assertation that the government hates gold-hoarders, would you? I mean, seeing as how you can walk into any coin dealer or pawn shop and pay cash for $1,000s in gold bullion with no paperwork? As a seller of bullion, this is a new one on me…

Would you believe, “sort of”? There is an executive order signed by FDR in 1933 ( on March 9th, no less - we’re coming up on the 68th anniversary of it ) prohibiting the hoarding of gold. This site:

http://www.numismaticrareuscoin.com/own.htm

Gives the details of the order. I think the call for returning to the gold standard provides a good context, too. :>.

Anthracite: IIRC, there were special “Y2K” gold coins that have no value other than the gold in them (they were created to get around the order mentioned above). You might check eBay for them.

Please ignore my previous post. It appears that act was repealed in 1974. It is actually a little unclear; the original act appeared to prohibit “gold hoarding”; in 1974 “private ownership of gold became legal”. I am assuming that, unless you were buying tons of gold in order to start your own country in northern montana, you’ll probably be fine.

It also appears that gold coins will only be 91% pure. Would that be sufficient for your purposed, Anthracite? It seems like extracting the pure gold would be a headache, although pretty doable, given gold’s melting point.

I said it’s “taboo”, I didn’t say it’s illegal, just like police harrasment isn’t illegal, just like you wanting to get together with about 40 other people and start a commune( like say ruby ridge or waco) isn’t illegal, but the fact is nobody knows for sure what Uncle Sam keeps tabs of these days, but you can bet that ANY business on the internet reports ALL sales of gold bouillion for delivery especially with a paper trail such as a credit card, address, your signature written on the must sign for package of gold. I’m just cautious . The only reason I made the comment was there’s a typical stereotype of the gold bouillion hoarder. Being a very untrustworthy of the “system” “Survivalists” free-minded people. Some people here DO know where I am coming from. Usuallymost people who want gold bouillion , like Handy was saying, a brokerage house selling you whatever amount of gold you want at market value, but you never take possession of it. I’m level headed now, you order a couple ounces of gold online, there’s probably a thousand other people doing it everyday, now you buy some weight you just might get a file made on you somewhere…be careful .

Oh, well. Given that I am an NRA member, held an FFL, and registered Libertarian for the last 12 years, most likely I am already on several Death Squad Hit Lists already. May as well get on a few more… :slight_smile:

Seriously though. I’m on paper as having bought all my assault rifles “on the books” via form 4173. I have bigger reasons to have them focus on me than just gold and platinum.