New Here, Interested In Info On Buying

And that my friends, are where you are wrong assuming what you do not know. Funny how you can know my intentions just from a few lines of typed text. I am in fact very interested and just bought a few ounces today. You guys are dems aren't you?, that would explain it,lol

I'm Canadian... so I have no political interest.

Gold and Silver are both hedges against inflation. At the time and place that you're at in your life I would not look at gold and silver as an investment, but a method to preserve wealth.

In your position I probably wouldn't have more than 15% exposure... I would be happier in large cap dividend paying stocks that will ensure a method of income after you're retired.

If you buy gold bars, dont buy from ebay and if you do buy from a reputable dealer, dont buy say a bar from last year. Why not?

It would be wiser to buy new bars current for the year, considering how even dealers can be fooled by these fake bars.

For what it's worth (free advise is worth every penny that you pay for it) I want to share a short story and my observation from it. I was at my LCS one day when a customer came in to buy as much silver as he could. The owner was very helpful and was able to sell this man several ounces. During the entire transaction the customer was explaining how this was a protection of his assets against the time when the dollar would collapse. This customer was reciting some of the same reasoning that you have presented as your reasoning to invest in gold and silver. As I said, the owner of the store was very helpful and sold this man several ounces of silver for the current spot price which was that day $42/ounce.

My observation on the whole affair is this: DO NOT BUY ON EMOTION! Educate yourself and buy on knowledge.

BTW silver and gold are a bit low right now so it may not be a bad time to invest. Hard to say for sure though.

I say do this-

1- coins, buy gold. Buy slabbed MS 69s of Pandas, Eagles and mint sealed maple leafs. my thought process is you get the slab 69 because who cares about the grade on the bullion coin, its more of "peace of mind" issue for when you sell. Sealed maples because they arent hand touched by the dealer and collectors will feel comfortable and pay probably a slight premium since its mint sealed.

2- silver, I say buy 10 ounce RCM bars. Great liquidity and safety of being RCM made.

My biggest word of advice is tho avoid buying pawn shops and from dealers, slabbed older coins, especially bars. The fakes are just so rampant its a risk. Now granted, if good training and educating, you can spot a fake BUT remember, if dealers are getting blind sided, the fakes are getting really good.

For that reason, I buy only current issue date coins and do not buy older dated coins anymore. I dont want to deal with the risk of getting a fake, I just dont want to deal with it. Slabs, yes they are getting faked too. So I buy only recent slabbed coins from reputable dealers, such as MCM.

I think forums like we have here and education is our FIRST line of defense against the fakes and frauds.

Silver would be used for the smaller purchases, and larger buys would be covered by gold.

This seems to be happening more and more.

People come into the local coin shop wanting to buy gold and
silver, because they are worried about the economy, government
or the banks.

A customer came in yesterday, he had taken all his money out
of the bank. He said it was no longer insured and he want to
put all his money into gold bars.

We tried to explain to him that gold eagles are more trusted
than bars. And tried to explain how gold and silver are bought
and sold. Many customers think ...for example .. if gold
is at $1200 dollars per oz. then he should be able to buy
or sell it at $1200 per oz.

He seem to hate the government so much he did not want gold
eagles ... because they were government coins. Asked if he should
melt them down ....

All some think is .. I will buy gold and someday it will be worth more.

In reality if you buy a lot of gold and silver you will have
to be okay with the value taking swings in value .. up and down.

Your 1oz gold coin might be $1200 today .. it might be $1600
next year ... but it might be $800 in two years ..

You should not put all your money into this type of investment.

The United States may not be perfect, but it is the best
country in the world. At least to me. If you don't like how things
are going, work at changing it. But the game of life in the
United States is what we have. Learn all the rules and
work to get ahead.

gold bars vs gold U.S. coins vs old gold vs foreign gold.

It not just what you can buy it at, you have to learn what you
can sell it at. Dealers in bullion buy and sell all forms
at different prices.

What I am saying, they might sell you the 1oz gold bar a little closer
to spot gold price, but they buy it further, back of spot,
when they buy it back from you.

Plus .. from state to state, sales tax might be different
from bullion vs US coins.

A person really should not putting a large part of their saving
into bullion with out learning how it works .. in most cases
they should not do it at all.

Work at getting debt free should be a number one goal.
That means paying off home and cars.

Establish a stable retirement income. Reduce unnecessary
spending.

Buying gold and silver over decades, only in addition to the above.

As I write this ... I think there is no way to convince
someone that dumping a lot of money into gold, is not
going to solve their problems and worries.