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Started By
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Purchasing Gold
Posted on 9/26/21 at 2:10 pm
Posted on 9/26/21 at 2:10 pm
Recent negative returns aside, looking to put 5-10% of my taxable investment portfolio into precious metals (and crypto, set myself up in the Voyager app last week). Regarding metals, what are the different ways to purchase forms of gold, etc?
Do you have to find a local broker to buy physically buy it? Does Vanguard or other online brokerages offer ETF’s?
Does owning shares of an ETF defeat the purpose of owning metals as an asset if you aren’t physically holding them? At first I would think so, but if the alternative is calling up one of the guys that advertise on the Fox Business commercials, I’d rather do the former. Seems like snake oil.
May end up just pushing the rest of potential gold allocation into Bitcoin, but still curious what options are.
Any insight appreciated. TIA
Do you have to find a local broker to buy physically buy it? Does Vanguard or other online brokerages offer ETF’s?
Does owning shares of an ETF defeat the purpose of owning metals as an asset if you aren’t physically holding them? At first I would think so, but if the alternative is calling up one of the guys that advertise on the Fox Business commercials, I’d rather do the former. Seems like snake oil.
May end up just pushing the rest of potential gold allocation into Bitcoin, but still curious what options are.
Any insight appreciated. TIA
7
Posted on 9/26/21 at 2:11 pm to bigeasy225
Lithium is the new gold baw….
Posted on 9/26/21 at 2:13 pm to bigeasy225
quote:
May end up just pushing the rest of potential gold allocation into Bitcoin, but still curious what options are.
Bitcoin is going to be the number 1 asset.
Posted on 9/26/21 at 3:31 pm to bigeasy225
Why not silver?
It is a smaller market. Most of the silver gets used up while most of gold is stored. It has been fun watching people pull silver from the comex in hopes of breaking the manipulation.
It is a smaller market. Most of the silver gets used up while most of gold is stored. It has been fun watching people pull silver from the comex in hopes of breaking the manipulation.
Posted on 9/26/21 at 5:09 pm to zatetic
That makes sense, but the same questions apply - where do i start?
Posted on 9/26/21 at 5:29 pm to bigeasy225
I guess it depends what you want it for. I do think it is in your interest to take physical though. Supposedly if enough people take physical the price will break very high like it did when the Hunts were trying to stop the currency manipulation. You can buy it for the cheapest price you can find, you can find all sorts of different rounds that people make, or you can get legit coins. There are plenty of places that send it in the mail. This probably isn't much of a problem with silver, but I've read you want to get gold in small units because it is less likely to be fake gold.
I don't recall what the deal was but I thought there was some tax difference between getting certain coins and all other silver/gold. But like I said I don't recall it, maybe I'm making it up
.
https://findbullionprices.com/closest-to-spot/
I don't recall what the deal was but I thought there was some tax difference between getting certain coins and all other silver/gold. But like I said I don't recall it, maybe I'm making it up
. https://findbullionprices.com/closest-to-spot/
Posted on 9/26/21 at 9:40 pm to bigeasy225
Physical is the way to go.
There are numerous good shops like Apmex.
There are also private sellers across numerous FB and Reddit forums. You can save a lot on premiums here.
Protect yourself. At the minimum get a Fisch tester including the “Ringer”. No single test is fullproof; but, the Fisch plus Ringer sorts out the vast majority of fakes.
There are numerous good shops like Apmex.
There are also private sellers across numerous FB and Reddit forums. You can save a lot on premiums here.
Protect yourself. At the minimum get a Fisch tester including the “Ringer”. No single test is fullproof; but, the Fisch plus Ringer sorts out the vast majority of fakes.
Posted on 9/26/21 at 9:53 pm to bigeasy225
quote:Well, can't just move those to the side.
Recent negative returns aside
Posted on 9/26/21 at 9:57 pm to bigeasy225
quote:I think performance is a big factor of any investment. Call me crazy, but perhaps it is the biggest factor. PMs have underperformed damn near everything investible in the last decade. If you want to go somewhere other than stocks, and its is a long term set it and forget it investment, go bitcoin.
Recent negative returns aside
Posted on 9/27/21 at 10:23 am to TigerTatorTots
This is a set it and forget about it type deal.
All aboard the Bitcoin train
All aboard the Bitcoin train
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