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Started By
Message
A few questions for physical gold owners
Posted on 3/14/13 at 8:28 am
Posted on 3/14/13 at 8:28 am
1) Best company to buy from? Leer, Goldline, others?
2) What are the typical transaction fees? Shipping costs, etc?
3) best place to store? Safe? Safety deposit box?
4) Most importantly, when and if you want to sell, how easily is it converted back to cash? Who will buy back gold at fair market price?
5) How is it delivered? Will someone schedule an appointment?
6) Common mistakes? Hindsight?
I am sure this has been asked over and over but a search turned up no threads in the last two weeks.
Thanks in advance and please dispense with the anti-gold advice just so that the thread is not hijacked.
2) What are the typical transaction fees? Shipping costs, etc?
3) best place to store? Safe? Safety deposit box?
4) Most importantly, when and if you want to sell, how easily is it converted back to cash? Who will buy back gold at fair market price?
5) How is it delivered? Will someone schedule an appointment?
6) Common mistakes? Hindsight?
I am sure this has been asked over and over but a search turned up no threads in the last two weeks.
Thanks in advance and please dispense with the anti-gold advice just so that the thread is not hijacked.
This post was edited on 3/14/13 at 8:31 am
5
Posted on 3/14/13 at 10:21 am to MadDoggyStyle
Southern Coin and Precious Metals in Metairie.
Posted on 3/14/13 at 1:09 pm to MadDoggyStyle
quote:
when and if you want to sell, how easily is it converted back to cash?
But ... but ... everyone takes gold. Right?
quote:
best place to store?
A tinfoil hat.
Posted on 3/14/13 at 1:44 pm to MadDoggyStyle
quote:
1) Best company to buy from? Leer, Goldline, others? Don't buy online only face to face and haggle a bit
2) What are the typical transaction fees? Shipping costs, etc? zero - don't buy online
3) best place to store? Safe? Safety deposit box? Safety deposit box
4) Most importantly, when and if you want to sell, how easily is it converted back to cash? very Who will buy back gold at fair market price? private individuals - not dealers
5) How is it delivered? Will someone schedule an appointment? NA - don't buy online
6) Common mistakes? Hindsight? buy at reqular intervals
Posted on 3/14/13 at 1:46 pm to MadDoggyStyle
someone i know has a ton of valuable coins and uses:
LINK
LINK
This post was edited on 3/14/13 at 1:46 pm
Posted on 3/14/13 at 1:50 pm to MadDoggyStyle
quote:
3) best place to store? Safe? Safety deposit box?
This depends. Why are you buying physical gold? If it is a shite hits the fan scenario, then a safety deposit box will do you no good. All of my clients store their gold in safes.
Posted on 3/15/13 at 6:12 am to Janky
quote:
then a safety deposit box will do you no good
Please explain. Is that because there will be no access to the box in chaos? Is there any truth that the US Government can seize or lock safety deposit boxes?
Isn't storing gold in a home safe a bit dangerous?
Thanks.
Posted on 3/15/13 at 7:05 am to AthensTiger
Exactly. If the economy collapsed to the point that our money is worth nothing and you have to use gold, then I am willing to bet the banks will not be accessible. As for being dangerous, only if go around running your mouth about it. No one should know about it. That is one of the reasons I like to get it shipped. It comes in a plain brown box with no labels. Whereas, you go to the local shop and buy $25k in gold eagles.....the salesman knows you have them. These are just my opinions of course.
Posted on 3/15/13 at 7:54 am to foshizzle
quote:
But ... but ... everyone takes gold. Right?
Bring a share of Tractor Supply stock to Albertsons and see where that gets you. PM's can be converted into local currency for use much faster than any other investment, including Wiki's beloved Bitcoin.
quote:
quote: when and if you want to sell, how easily is it converted back to cash
Extremely quickly. There are a number of places that will pay spot. You can sell PM's over spot on eBay at any time you choose, which can put money in PayPal account, which issues debit cards. When I sold my lions share I sold one oz silver bars at a time on eBay and made a killing, averaging about $3 over spot per bar.
quote:
best place to store? A tinfoil hat.
. A safe at home is my answer. But I also keep 5k in cash as well.This post was edited on 3/15/13 at 7:58 am
Posted on 3/15/13 at 7:58 am to ItNeverRains
quote:
Bring a share of Tractor Supply stock to Albertsons and see where that gets you
Why would you have to do that or believe that unless you wear a tinfoil hat?
Posted on 3/15/13 at 8:24 am to Catman88
quote:
Why would you have to do that or believe that unless you wear a tinfoil hat?
It was in context to the aforementioned uselessness of physical gold. I deem it more liquid than any stock holding. This was simply an absurd counterpoint to an absurd initial point.
Posted on 3/15/13 at 9:53 am to foshizzle
quote:
foshizzle
quote:
A tinfoil hat.
Why are you the pompous arse in every gold thread?
I understand the push back on Rivers-esque like posters, but hammering each and every person that asks a question about buying gold puts you into rabid Atheist stalker territory.
Posted on 3/15/13 at 9:51 pm to ItNeverRains
Thanks for the info about selling. As for the tin foil hat comment, owning gold seems much more realistic than believing in quantitative easing, (printing money).
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