| Author |
 Replies: 27 / Views: 5,738 |
Page 2 of 2
|
|
|
|
New Member
 United States
41 Posts |
Hi Crazyb0,
I am not too sure I followed your reply very well. I do have a relatively diversified portfolio if you can call it that :). I don't have a lot of money, but I do have some stocks and the purchasing of PM's would be for the physical metals.
Yes, they would be locked up in a safe. I am just looking for options, specifically to convert digital currencies to a physical form of wealth to avoid taxes. If I purchase PM's with the digital currency, I can include their value in IRS's and avoid taxes. Where if I was to cash them in, I would have to pay taxes on them. Yes the IRS wants money even from them now, sigh.
Anyway, that's really what I was looking for, was just peoples thought on it. Not some fortune telling on if gold or silver were going to skyrocket.
Though if anyone does know if something is going to skyrocket just send me a private message before they do!
|
|
Moderator
 United States
34428 Posts |
Quote:
Hi Crazyb0,
I am not too sure I followed your reply very well.  I would hate to put words in @crazyb0's mouth, but I think that he was commenting on the difficulty in trusting anyone with PM storage and therefore concluded that at home with his shotgun is probably the safest place. "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
|
|
Bedrock of the Community
 United States
12477 Posts |
My view is a little different but, that is due to my budget. I am foremost a numismatist and PMs are a lesser concern than owning nice coins. I do own silver but, it is all in coins and 90% (except for one ASE). I have never owned gold but when I do, it will be in coins, no bars (wafers) or generic rounds. I suppose what I'm saying is that buying PMs for PM's sake is not my interest. I prefer numismatic value. As a side note, the only .999 anything I own is copper but, only because I wanted a CCF token and like Zombucks.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
|
|
Rest in Peace
United States
17900 Posts |
Right now you can buy NGC and PCGS certified and graded recent $5 Gold commemorative issues for a few dollars over spot.
Low mintage, high grade US Coin, encapsulated, near spot.
Why on earth would you buy any other gold?
|
|
New Member
United States
41 Posts |
Well, that's kind of why I asked the question. If people like you suggest coins over bullion then I would look into that as well. I have a few coins, all silver. I was thinking of getting two coins also.
I can get:
2017 1 oz British Gold Queen's Beast Dragon Coin NGC MS70 ER
And I can get:
2017 1 oz American Palladium Eagle Coin PCGS MS70 (First Day of Issue)
Maybe those would be a better investment in the long run for the money I have.
|
|
Pillar of the Community
United States
1068 Posts |
Quote:
Well, that's kind of why I asked the question. If people like you suggest coins over bullion then I would look into that as well. I have a few coins, all silver. I was thinking of getting two coins also.
I can get:
2017 1 oz British Gold Queen's Beast Dragon Coin NGC MS70 ER
And I can get:
2017 1 oz American Palladium Eagle Coin PCGS MS70 (First Day of Issue)
Maybe those would be a better investment in the long run for the money I have. Keep in mind that if and when you go to sell these in the future, the fact they are MS70 will be somewhat moot if you sell them at a coin shop. To most coin dealers, it is just a bullion coin, so you might be better off buying one that isn't graded as you'll take less of a hit. |
|
New Member
United States
41 Posts |
Then isn't that the same as purchasing bullion bars? Seems like a catch 22.
|
|
Bedrock of the Community
United States
10982 Posts |
Quote:
Then isn't that the same as purchasing bullion bars? Seems like a catch 22. Don't sell them to a coin shop. I've made one sale to coin shop in my life and that was 20 years ago when I didn't know what I was doing. |
|
Valued Member
United States
65 Posts |
Based on your followup response since ease of storage seems to be more important, then gold would be the better choice. You could also buy fractional gold (1/10, 1/4, etc) instead of 1 Oz. Still easy to store but might make you feel like you have more of it. I'm partial to fractionals because I believe that the lower price point makes it affordable to more people when it comes to selling. Personally, though I prefer silver over gold because I think it has a better chance of increasing in value. At the end of the day, everyone has their own opinion, but the only one that matters in this case is yours.
|
|
Pillar of the Community
Canada
1051 Posts |
I'm far more excited about the prospect of a single 1 oz. gold coin than 100 silver 1 oz coins. Not just in a Smeagol fondling the ring in a cave sort of way (though I do that too), but because each one represents the work and commitment required to stack expensive gold coins, for those of us that are not wealthy.
|
|
Pillar of the Community
United States
4870 Posts |
I would stay away from fractional gold. While they are affordable, the premiums are too high.
|
|
Pillar of the Community
Canada
5246 Posts |
Quote:
What about a PCGS Palladium coin? Palladium is extremely volatile. Because it is used as a catalyst in the automotive industry, it rises and falls based on the fortunes of that industry. You may like that or not, but you have to consider that. It is a precious metal but does not have the recognition that gold and silver do. |
|
Pillar of the Community
Canada
5246 Posts |
Quote:
I have never heard any else claim this, but in my opinion, Gold has been bubbling out of control in the past century. The Silver to Gold Ratio is way out of align right now from a historic perspective. Unless your veiw is that Gold was undervalued for the history of civilization, then I would say buy the Silver. With all due respect, the world is a very different place than it was 2000 years ago, not least of which are changing roles of precious metals and the vast discoveries of these metals in the last few hundred years. I see no reason that the ratios from 200 or 2000 years ago need to be followed today. Prices and price ratios do not follow any natural laws. |
|
Bedrock of the Community
United States
12477 Posts |
Quote:
the world is a very different place than it was 2000 years ago, not least of which are changing roles of precious metals and the vast discoveries of these metals in the last few hundred years.  Electricity is a great example. After it was discovered, certain metals gained an additional market and industrial use/demand for being highly conductive. Now, those metals (e.g. gold) are a staple of the electronics industry which, we should all agree, is quite large and growing. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
|
|
New Member
United States
41 Posts |
Hmm. I would think Palladium will continue to rise as long as we have cars running on fossil fuels. Which should be most of my lifetime.
I was just thinking of that coin because it is the first run and a new metal.
|
|
Page 2 of 2
|
Replies: 27 / Views: 5,738 |
Page 2 of 2
|
First Page
Posted 11/27/2017 9:31 pm
