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Started By
Message
Buying Gold & Silver coins and bars.
Posted on 1/21/15 at 1:08 pm
Posted on 1/21/15 at 1:08 pm
I just have a few questions for the room on buying gold.
I bought a 2015 buffalo coin from JM Bullion over the weekend locked in at the spot price of $1337.08
A) would you suggest buying Bullion coins or bars and is it advantageous in buying these in over 1 troy ounce purchases? I see where 25 gram PAMP Suisse divisible bars are offered and on the surface it seems like a good idea in having a set in the safe box for emergency.
Thoughts and or advice for a novice investor looking to divest their savings would be appreciated.
I bought a 2015 buffalo coin from JM Bullion over the weekend locked in at the spot price of $1337.08
A) would you suggest buying Bullion coins or bars and is it advantageous in buying these in over 1 troy ounce purchases? I see where 25 gram PAMP Suisse divisible bars are offered and on the surface it seems like a good idea in having a set in the safe box for emergency.
Thoughts and or advice for a novice investor looking to divest their savings would be appreciated.
This post was edited on 1/23/15 at 7:39 am
5
Posted on 1/21/15 at 2:53 pm to DawgSmoke
This should be interesting.
Gold was a lot cheaper 3-4 weeks ago.
Gold was a lot cheaper 3-4 weeks ago.
Posted on 1/21/15 at 10:21 pm to DawgSmoke
I am still 'bearish' on gold.
Not an expert by any means but I still think gold is overpriced. If you bought $18,000 worth of gold at its peak, it would be worth around $13,000 today
IMO, gold will drop below $1000/oz in the coming year.
But if you want to buy gold, I would go with some sort of coinage rather than plain bars, even the divisible ones.
Just remember, PMs such as gold, silver, & platnium serve as a 'store of value' or a hedge against inflation. Also PMs have several industrial & commerical uses.
Not an expert by any means but I still think gold is overpriced. If you bought $18,000 worth of gold at its peak, it would be worth around $13,000 today
IMO, gold will drop below $1000/oz in the coming year.
But if you want to buy gold, I would go with some sort of coinage rather than plain bars, even the divisible ones.
Just remember, PMs such as gold, silver, & platnium serve as a 'store of value' or a hedge against inflation. Also PMs have several industrial & commerical uses.
Posted on 1/21/15 at 10:32 pm to DawgSmoke
i buy silver fairly often. don't have any gold. I buy silver eagles, 1 and 10oz bars, and 90% coins.
Posted on 1/21/15 at 10:53 pm to Kashmir
quote:
90% coins
This
Pre-1965 US Dimes, Quarters and Halves.
On the extremely odd chance that we did hit a fiscal Armageddon, actual 90% Silver Dimes, Quarters and Halves become relevant as they are already familiar to all Americans and will get some fixed values. Silver Eagles* and/or Silver Bars? Not so much.
*Silver Eagles: I get that they are produced by the US Mint, they are legal tender and they have a denomination inscribed on them but no one has ever taken them in change for normal business transactions. They have never circulated as normal coinage here. They would be like a Foriegn coin to most Amurkins.
In an Economic Panic, one doesn't want more uncertainty.
This post was edited on 1/21/15 at 11:00 pm
Posted on 1/22/15 at 6:16 am to soccerfüt
LINK
I've never bought too much in to the gold/silver ratio as it could either mean gold is overvalued currently, or silver is undervalued currently.
Some percentage of precious metals in one's portfolio seems wise to me. I own very little gold, but do own 10,000 oz of silver.
I've never bought too much in to the gold/silver ratio as it could either mean gold is overvalued currently, or silver is undervalued currently.
Some percentage of precious metals in one's portfolio seems wise to me. I own very little gold, but do own 10,000 oz of silver.
Posted on 1/22/15 at 8:21 am to Reubaltaich
quote:
But if you want to buy gold, I would go with some sort of coinage rather than plain bars, even the divisible ones.
This is interesting because I'm actually in this same thinking. I'm just not sure how easily those small divisible gold bars would be to liquidate in a real emergency where US minted coins with a face denomination value would.
Thanks for everybody's comments and advice as I continue researching and ultimately diversify.
(divest)
This post was edited on 1/26/15 at 11:23 pm
Posted on 1/22/15 at 9:39 am to DawgSmoke
I think silver is a better investment with more room to run. The smaller value per piece makes them easier to barter with too. A $1200+ dollar 1 oz gold coin is hard to divide when you are trying to trade for bread and bullets.
Posted on 1/22/15 at 9:55 am to Clyde Tipton
I buy a lot of silver, agree with more room to run, I buy bars, and coins, only top quality coins, MS 69 or 70. I do by some gold coins, but only the best, first run, MS 70.
Posted on 1/22/15 at 10:45 am to dantes69
Keep it coming! Thanks for all the commentary and advice. Some of you are parroting what some family people who have been doing this for awhile advised me on.
Time to do some more research.
Time to do some more research.
Posted on 1/22/15 at 11:06 pm to soccerfüt
*Silver Eagles: I get that they are produced by the US Mint, they are legal tender and they have a denomination inscribed on them
uncirculated 1oz us mint .999 purity....good enough for me!
uncirculated 1oz us mint .999 purity....good enough for me!
Posted on 1/23/15 at 7:30 am to DawgSmoke
The Royal Mint is to bring about the return of a world-renowned bullion brand after an absence of 47 years, expanding its bullion range to offer gold and silver minted bars bearing the historic marque of The Royal Mint Refinery.
LINK
I stumbled across this news yesterday and I'm not sure what it exactly means. but this is rather an about face from a long standing position that makes one wonder if they are seeing a bullish future in precious metals coming about.
Thoughts?
LINK
I stumbled across this news yesterday and I'm not sure what it exactly means. but this is rather an about face from a long standing position that makes one wonder if they are seeing a bullish future in precious metals coming about.
Thoughts?
Posted on 1/23/15 at 9:17 am to DawgSmoke
IMHO do not waste your time with any size silver bar under 10oz, they carry too much of a premium over/under spot when bought/sold.
Gold is a bit different as the actual price will be closer to spot percentage wise and not as size dependent.
I prefer silver as the percentage swings are USUALLY much greater than gold even though the prices tend to move in the same direction. That being said I have purchased a few gold coins over the years and will continue to as the whim strikes.
As far as coins or bars I personally buy silver bars because I am not trying to hoard for armageddon, just trying to buy low sell high.
Gold is a bit different as the actual price will be closer to spot percentage wise and not as size dependent.
I prefer silver as the percentage swings are USUALLY much greater than gold even though the prices tend to move in the same direction. That being said I have purchased a few gold coins over the years and will continue to as the whim strikes.
As far as coins or bars I personally buy silver bars because I am not trying to hoard for armageddon, just trying to buy low sell high.
Posted on 1/26/15 at 8:02 am to cave canem
How would go about selling silver or gold coins and can you get market value for them. Say you bought at $18 an ounce and silver went up to $25 oz. How much are you going get an ounce when you sell?
Who is going to buy it?
Who is going to buy it?
Posted on 1/26/15 at 8:57 am to offshoretrash
I have an repurchase agreement in place form the person I buy my silver from. When I purchase I pay about .79-.99 over spot, and when I sell I get spot.
Posted on 1/26/15 at 10:53 am to soccerfüt
I guess I don't understand the value of a mint provided denomination because they are so far off of the metal purchase price. I understand it won't ever be exact, but they can update it every so often within a certain expected variation (~25%).
This post was edited on 1/26/15 at 10:54 am
Posted on 1/26/15 at 12:57 pm to Volvagia
I'm no expert but here's something I read explaining it in part:
quote:
Spot Price vs. Physical
If you are new to the gold and silver game, you will likely look up the silver or gold spot price and assume
that is the price of physical gold or silver.
Well if the world of silver and gold price discovery was legitimate and honest, that may be the case but I
digress, for it is not.
The spot prices of either metal are an amalgamation, a composite of the world’s future’s markets buying
and selling futures contracts representing the underlying metal respectively. The physical market price for
bullion tracks the spot price but generally hovers over it in the realm of reality where bullion dealers actually
deliver what you buy. So the chain in general of price and bullion to one’s door goes like so:
? Miners dig silver and gold ore from the ground and sell mixed ore and dore metal bars to refiners typically
below the world spot price for each metal.
? Refiners then melt and purify the ore into fine bullion, which is then sold to mints at very close to the
spot price.
? Mints then strike bullion coins or pour bullion bars, selling them to wholesale / retail silver and gold
dealers at prices typically just above the spot price.
? Retail bullion dealers offer to the public their respective bullion products.
Posted on 1/26/15 at 1:23 pm to DawgSmoke
I'm not talking about spot prices. I'm talking about the preference for some to have officially minted coins because they have denominations. To me that is a deterrent because of some ignorant seller in a bargaining scenario taking THAT number as the value.
For instance, the 1 oz gold coin (current spot ~1200) is listed as 50 dollars
Platinum, is about that price but listed as 100 dollars.
It seems to be a risky proposition to have us mint coinage for that reason if you are keeping a small cache in a "economic meltdown scenario."
Suppose it depends on the level of melt you expect. If it is just hyperinflation but still an active system it works well. If there is no fiat currency to exchange it with though....
For instance, the 1 oz gold coin (current spot ~1200) is listed as 50 dollars
Platinum, is about that price but listed as 100 dollars.
It seems to be a risky proposition to have us mint coinage for that reason if you are keeping a small cache in a "economic meltdown scenario."
Suppose it depends on the level of melt you expect. If it is just hyperinflation but still an active system it works well. If there is no fiat currency to exchange it with though....
Posted on 1/26/15 at 2:59 pm to Volvagia
The logic is that a silver eagle wouldn't need to be assayed. A generic silver round, in the event silver becomes increasingly more valuable, would likely need to be assayed.
Same as a gold MS-70 sealed buffalo coin -v- an unsealed gold coin by another mint.
Same as a gold MS-70 sealed buffalo coin -v- an unsealed gold coin by another mint.
Posted on 1/26/15 at 7:53 pm to DawgSmoke
quote:
Thoughts and or advice for a novice investor looking to divest their savings
I doubt "divest" was the word you were looking for here.
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