I wants to buy some gold bullion. But don't know where to start. I need some advice from folks out here. Which one are the best: Credit Suisse American Eagle or any other
Also, the price is so different that gold spot price more like $50 discrepancy from spot price on each Oz.
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posted: Feb. 15, 2013 @ 2:59p
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BIG MISTAKE!!!!!!!!!!!!!!!!! Gold has bull markets and bear markets just like stocks.It's purely a speculative play because... (more)
sayhey (Feb. 23, 2013 @ 8:07p)
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I'm guessing he lost big time in stocks during the financial crisis because he was all in there too.
cheezedawg (Feb. 23, 2013 @ 8:21p)
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So, did you go bullion, or short?
cattlet (Apr. 17, 2013 @ 12:35p)
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raringvt
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posted: Feb. 15, 2013 @ 3:02p
Anything short of maxing out your credit cards to buy gold, multiple trips to Vegas to create the appearance that you're a degenerate gambler & a willingness to file bankruptcy is weak sauce! Just buying PMs is so 2000 and late.
APMEX is a good place, too. Also, gold premiums are just that--premiums. Don't expect to stack without paying some sort of premium. Now, some bars and rounds do have lesser premiums than say, American Eagles, but most have a fair premium on top of the melt value.
e.g Spot price is $1,608. APMEX buy price for 1oz gold eagle is $1,655 and their sell price is $1,695. In this example, the spread is $40 dollar, and you pay premium above spot to buy, but you also recoup some premium when you sell.
Some more famous brand command higher premium (eg. AGE), while some has lower premium (e.g Mexican Libertad). It is just a matter of personal preferences. Some prefers to pay lowest premium to buy and sell; some wants more liquidity and choose to paid higher premium for AGE; while others may want worldwide recognition and they choose maples or krugerrands.
Unless you really think the world is coming to an end and want to put the gold in a mattress, I'd highly recommend just getting financial exposure to it through a stockbroker. There are various funds, ETF's and derivative to use to do so.
TravelerMSY said: Unless you really think the world is coming to an end and want to put the gold in a mattress, I'd highly recommend just getting financial exposure to it through a stockbroker. There are various funds, ETF's and derivative to use to do so. I agree. Dabble in paper precious metals a bit, see if you like it. If you like volatility, dabble in silver. It's "cheap," and fun, and will keep you on your toes.
Make sure you don't buy numismatic coins... there are lots of places ripping their customers off selling them coins that don't contain much gold at all.
AE is 9167 and Canadian Maple Leaf is 9999. The purity is better with Maple leaf as well as the premium is lesser. Kitco and APMEX are too expensive as their premiums are too high! For minted coins from US mint or RCM shoot for not more than 3% premium.
Guys, many coins ARE bullion. Bullion doesn't just mean bars. American eagles are bullion coins. South African krugerrands are bullion coins. Canadian maple leaf coins count as bullion. (But don't buy those. They are too close to pure gold and scratch more easily than the others).
If you do go with coins -- and you should -- buy 1oz coins. Don't mess around with 1/2 oz or other denominations, as you will pay more in markup. That is, you get more for your money if you stick to standard one-ounce coins.
livingdivineus said: Also, the price is so different that gold spot price more like $50 discrepancy from spot price on each Oz.
Really confused here and need some expert advice.
Thanks
The markup over spot price can vary wildly from dealer to dealer. Expect to pay at least 2% above spot, and know that 5% above spot is not terribly unreasonable. The difference between markup and spot among all dealers also changes when gold is popular (or unpopular).
You can often save if you buy ten coins at a time, but yes at .... US$1605 an oz today, ten coins is a lot of money.
OverMachoGrande said: jaytrader said: megatard said: hatoraide said: 2011 called, they want this topic backThe 90s called, they want their joke back.
The 80s called, they want their username back. The 70's called, they want their decade-segregation concept back. The 60s called, they want their optimistic hope that folks 50 years in the future would not be making juvenile jokes about various decades in the future wanting their "x" back back
megatard said: The 80s were Mega-Awesome! And yeah, buy coins not bullion. They're more secure and tradeable. And they're purty to look at.Green to you for not being a whiney bitch about my smartass comment.
thanks all of you guys for your useful advice. I am planning to go all in gold since lost big time stocks during financial crisis. Atleast, everything crashed, I will still have shiny metal with me unlike stocks.
I checked couple of local store and I got more confused because I have no idea how to double check their claims of purity.
livingdivineus said: thanks all of you guys for your useful advice. I am planning to go all in gold since lost big time stocks during financial crisis. Atleast, everything crashed, I will still have shiny metal with me unlike stocks.
BIG MISTAKE!!!!!!!!!!!!!!!!! Gold has bull markets and bear markets just like stocks.It's purely a speculative play because it offer no yield. It should be part of all portfolios as protection against Armageddon, but going "all in" exposes you to SEVERE risk. JMHO.........
sayhey said: livingdivineus said: thanks all of you guys for your useful advice. I am planning to go all in gold since lost big time stocks during financial crisis. Atleast, everything crashed, I will still have shiny metal with me unlike stocks.
BIG MISTAKE!!!!!!!!!!!!!!!!! Gold has bull markets and bear markets just like stocks.It's purely a speculative play because it offer no yield. It should be part of all portfolios as protection against Armageddon, but going "all in" exposes you to SEVERE risk. JMHO.........
Good Luck,I'm guessing he lost big time in stocks during the financial crisis because he was all in there too.
livingdivineus said: thanks all of you guys for your useful advice. I am planning to go all in gold since lost big time stocks during financial crisis. Atleast, everything crashed, I will still have shiny metal with me unlike stocks.
I checked couple of local store and I got more confused because I have no idea how to double check their claims of purity.
I am thinking to stick with coins.So, did you go bullion, or short?
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