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Thread: Request Advice on buying Gold and Silver.

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  1. #16
    Charter Member
    us
    Jul 2006
    Orlando, Fl
    Minelab_Equinox_ 800 Minelab_CTX-3030 Minelab_Excal_1000 Minelab_Sovereign_GT Minelab_Safari Minelab_ETrac Whites_Beach_Hunter_ID Fisher_1235_X
    37,119
    28779 times
    All Types Of Treasure Hunting
    JohnnyBravo, please keep all politics out of all forums except our politics forum.
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    No Expiration Date!

  2. #17
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,688
    1855 times
    Prospecting
    Gun prices are political?

  3. #18
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,688
    1855 times
    Prospecting
    Ok nevermind, dont really care haha.

  4. #19
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    10,590
    2440 times
    silver surfing
    Honorable Mentions (1)
    Quote Originally Posted by gmradar View Post
    There are companies which offer storage for your bullions/coins/bars when you buy a certain amount of $$$.

    Another thing is (If you want to invest) to buy a gold or silver denominated investment product from a big bank or an investment company. These usually play with the price of gold/silver against USD and at the maturity period you can either get your cash back with a premium or buy the gold/silver.
    Yikes! Iíd never even consider that option. When it comes to paper investments you really donít have much of a choice, however when it comes to PMís, if you donít hold it - you donít own it. That, and gold and silver have been terrible investments for the last ten years.
    When I listen to LED ZEPPELIN...so do my neighbors

  5. #20
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    10,590
    2440 times
    silver surfing
    Honorable Mentions (1)
    Quote Originally Posted by wilspeak View Post
    Hello, I am interested in buying Gold and Silver. I don't trust the paper currencies, 401K, and IRA plans. I want to start saving some of my small income in Gold and Silver coins, bars and ingots. Can someone Please tell me what is the best and most profitable way to invest in Gold and Silver coins or bars? What are the best companies to buy from? and how do I sell the Gold or Silver if I had to cash them in? Also please include any other advice that someone new to buying Gold and Silver should know. Thank You
    compare silver prices dot com.
    When I listen to LED ZEPPELIN...so do my neighbors

  6. #21
    us
    Deep1

    Dec 2018
    Carolina Lowcountry
    Nox 800, Garrett PI, Poor ole wore out Fisher 1266.
    59
    122 times
    All Types Of Treasure Hunting
    I go a different route.
    I buy from pawn shops.
    When they sell their scrap, they do not get spot.
    I pay spot, no more.
    If you buy from big sellers, you pay spot plus. You're already in the hole.
    Check some the reputable? local pawn shops. You'll probably find 1 willing to sell.
    As a novice, be careful, stay away from gold at first, especially gold coins.
    Start with pre-64 common date silvers coins. Less chance of fakes.
    Once you build trust, you can move into silver bars and gold, if you choose.
    If you do, it is important to have a quality gold/silver test kit.
    I won't buy ingots/bars without testing. They're too easy to counterfeit.
    Silver coins are the most profitable at resell, they're easily sold on private markets at spot or better.
    No big buyer is going pay spot for bullion, you'll lose up 10%, depending on buyer.
    If you buy a 5% over spot and sell at 10% under, prices have to rise 15% before you break even.
    That means at the current price of $1288.50, gold would have rise to $1481.78 an increase of $193.28, before you break even.
    If it's old, I'll dig it, dive on it, detect it or sometimes when I get lucky just bend over and pick it up.

  7. #22
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    10,590
    2440 times
    silver surfing
    Honorable Mentions (1)
    Quote Originally Posted by Deep1 View Post
    I go a different route.
    I buy from pawn shops.
    When they sell their scrap, they do not get spot.
    I pay spot, no more.
    If you buy from big sellers, you pay spot plus. You're already in the hole.
    Check some the reputable? local pawn shops. You'll probably find 1 willing to sell.
    As a novice, be careful, stay away from gold at first, especially gold coins.
    Start with pre-64 common date silvers coins. Less chance of fakes.
    Once you build trust, you can move into silver bars and gold, if you choose.
    If you do, it is important to have a quality gold/silver test kit.
    I won't buy ingots/bars without testing. They're too easy to counterfeit.
    Silver coins are the most profitable at resell, they're easily sold on private markets at spot or better.
    No big buyer is going pay spot for bullion, you'll lose up 10%, depending on buyer.
    If you buy a 5% over spot and sell at 10% under, prices have to rise 15% before you break even.
    That means at the current price of $1288.50, gold would have rise to $1481.78 an increase of $193.28, before you break even.
    The popular buyer that I’m looking at as of now is buying 1 oz. gold ASE’s at $1291.89, spot currently at $1289.39. I could be wrong, but is that price not over spot? Also, why would you not want 1964 halves, quarters and dimes. Are they not 90% silver?
    When I listen to LED ZEPPELIN...so do my neighbors

  8. #23
    us
    Aug 2017
    Concord
    Garrett 400
    5
    6 times
    Metal Detecting
    I've been buying in small quantities (10 or so oz) from JM Bullion for a while now. They offer a one-time starter offer of 10 1 oz. rounds for spot, no tax or shipping. After that, I watch spot price rise and fall, and their sale items. Usually buy at 49-69 cents over spot on a good dip. Sticking with 1 oz rounds and bars. They have gold too if you're so inclined.

  9. #24
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,688
    1855 times
    Prospecting
    Junk silver! Woop woop! Junk is my favorite but I also like the many varieties of generic bars and rounds. Anything near spot means more ounces for me. I'm not that picky.
    Same goes with gold but nuggets are my favorite and they arent pure. I like fractional gold when I find it and a few one ounce coins. The 50 gram breakable bars are prime IMO.
    I have two trusted dealers and buy online.
    All the online dealers have spot price deals of different sorts. Good way to build the stack!
    Deep1 likes this.

  10. #25

    Mar 2013
    61
    65 times
    All Types Of Treasure Hunting
    A hedge against SHTF is US coins, pre 1964. There is not now or will there be an argument about value. They are all 90% silver. Concentrate on dimes and quarters. Easier to trade. Gold is right pricy. Platinum is about useless for SHTF. All bullion coins should be avoided. People know what a US quarter is. They ain't too sure about a bullion coin just because it says .999. Lots of fakes out there now. There will be no trust at all after SHTF. If you try to move into PMs because you don't trust the dollar, the current markets are fake. Control by paper markets creating artificial shortages. A couple of thousand dollars in Junk US coins is a great idea. Trying to bet against Chase and JP Morgan will get your lunch ate
    Gold Gold Gold Gold
    Bright and Yellow, Hard and Cold
    Molten, graven, hammered, rolled
    Heavy to get, light to hold
    Stolen, borrowed, squandered, doled

  11. #26
    hr
    Mar 2017
    Croatia
    gpx 4800, tdi pro, sov gt/xs, sand shark 10.5'', vaquero
    112
    66 times
    All Types Of Treasure Hunting
    if i personally had 50k to invest i would only buy 5-10 pieces very fine condition roman/byzantine gold coins that were authentically graded... then some 20 years later i think that this 50k investment would be worth 60k or more

  12. #27
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    10,590
    2440 times
    silver surfing
    Honorable Mentions (1)
    Quote Originally Posted by Mitch Dickson View Post
    A hedge against SHTF is US coins, pre 1964. There is not now or will there be an argument about value. They are all 90% silver. Concentrate on dimes and quarters. Easier to trade. Gold is right pricy. Platinum is about useless for SHTF. All bullion coins should be avoided. People know what a US quarter is. They ain't too sure about a bullion coin just because it says .999. Lots of fakes out there now. There will be no trust at all after SHTF. If you try to move into PMs because you don't trust the dollar, the current markets are fake. Control by paper markets creating artificial shortages. A couple of thousand dollars in Junk US coins is a great idea. Trying to bet against Chase and JP Morgan will get your lunch ate
    You want to keep the 1964’s also. Those are silver too.
    When I listen to LED ZEPPELIN...so do my neighbors

  13. #28
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    1,688
    1855 times
    Prospecting
    I remember the last big run up in prices. A local burger joint was doing a special, "burger and fries for only $2.50 in silver change", or pay the regular $6. He had people lined up down the street for that deal and it went on for awhile. It's amazing what people will do when they think they are getting a smoking price! It was so big it was on the radio and no one could understand how he could sell food so cheap!
    I bet mom and pop couldn't wait to take the kids out with gpas coin collection and get their $30 meals! Haha

    I wouldn't count on many people understanding the value of metals in shtf. Even less people than that will have anything you'd want or could use anyway.
    A cheese sandwich would be worth more to most people than an ounce of gold in reality.
    Now if you have cheese or better yet, peanut butter sandwiches?! Now you can buy some assets!
    Metals would be useful once an economy is reestablished but not much use before that.
    People dont care about silver or gold when their stomachs are growling and their children cry.

 

 
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