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 Replies: 27 / Views: 2,904 |
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Valued Member
United States
376 Posts |
So I have just recently been very curious and interested in possibly starting to purchase some gold. But as I am a silver guy, I do not have the kind of money to go blow $180 on a quarter or $1800 on an oz.
So what is the best way to invest in gold without going bankrupt? And where's the best place to buy?
I ordered 2 1/10th oz bars yesterday. Very over priced at $10.50 a piece. But I just wanted some to have, and to see If I like it. :-)
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Valued Member
United States
456 Posts |
I'd pick up every quarter oz you can get for $180! I assume you mean 1/10? That seems to be the going rate in my neck of the woods as well. I've picked up a few 1/10 oz locally when they were offered at spot. Haven't bought gold anywhere else yet.
You ordered two 1/10 silver bars for 10.50 each? What kind? I've got a few 1/10 rounds, but I've never had a bar.
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Pillar of the Community
United States
830 Posts |
If you only have $20-30 to invest at a time I think I'd stick with silver. Or start going to garage sales with a 10xloop, sometimes you can find some gold or silver jewelry for well below melt. Of course you may have to use some gas to drive around looking. I started off in 1987 buying ASE for around $7-8 each. |
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Pillar of the Community
Canada
3692 Posts |
I've seen silver bars that weigh a gram each, but they are largely for novelty purposes.
For gold, I suppose that most will tell you that you can get American circulating coinage for close to spot. They're well worth it.
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Pillar of the Community
United States
5862 Posts |
Get yourself a time machine and go back to when gold was $300/ounce?  Seriously, that's a really hard question and I'm not sure there's a good answer. Yes, you can buy fractional ounces of gold for relatively small amounts of money, but the premiums are so atrocious (in my opinion) that you destroy any possibility of getting a good return on your investment. On the other hand, you can get whole ounces of gold with a premium of $10-20 if you shop around, but you then need to come up with $1600+ per ounce and that's a lot of money. I haven't resolved this for myself. I did decide to spend a chunk of cash a little while back and buy 5 1-ounce Krugerrands at $19.99 per ounce over spot, but it was really hard parting with that much cash for only 5 little coins and I don't see myself doing it again any time soon. Instead, I've been focusing on silver, which lets me buy a lot more at a much lower premium. |
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Valued Member
Canada
442 Posts |
Your prices and fractions are all over the place. $180 for 1/4 oz? $10.50 for 1/10th bars? I've never seen a 3.1 gram gold bar before.
Although to be honest, I wouldn't fret too much with small fractionals and their premiums. I've sold a few 1/4 oz gold coins for very close to what I paid for in terms of premiums.
I say if the the Central banks are buying them in tonnes, it doesn't hurt to have a few oz, even though I feel the value of getting a dozen oz's of silver is better.
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Valued Member
 United States
376 Posts |
Sorry. Yes $180 for a tenth oz I meant. And yes, I paid $10.50 a piece for 2 1/10 gram bars lol. Like I said. Paid double the value, but I just wanted to have some tosee if it still interests me. It's much different having something in your hand.
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Valued Member
United States
376 Posts |
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Pillar of the Community
United States
5862 Posts |
Quote:
I paid $10.50 a piece for 2 1/10 gram bars lol. Like I said. Paid double the value, but I just wanted to have some tosee if it still interests me. It's much different having something in your hand. Have you actually received those yet? They're so small I'm not even sure you'd be able to see them in your hand... |
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Valued Member
United States
376 Posts |
Well they measure 10x7 millimeters. So yes small but still visible. They are just most likely paper thin.
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Pillar of the Community
United States
5833 Posts |
You can buy Pamp Suisse 1 gram bars or the real small 1/25 oz. gold coins for starter, premium is high on all those.
But compare to the 1/10 gram bar, it is cheaper and more buyers prefer the 1 gram Pamp Suisse with the serial numbers in the credit card type holder.
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Bedrock of the Community
United States
36839 Posts |
Just save your money until you can buy at least a 1/4 oz coin. Over paying for the 1/10 ozs is really not the best way to go. Every time you save up enough for another 1/4 oz buy one. Your price on all will average out over time.
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Pillar of the Community
Canada
1502 Posts |
if you are smart about selling, don't worry about the premium on the smaller weights. Just don't buy 1/10th oz gold coins with a premium and turn around and sell them at spot.
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Rest in Peace
United States
7075 Posts |
 with IndianGoldEagle. Save until you can buy something worth buying. I decided on a 'coin hobby' allowance for myself a couple of years ago and I hardly bought anything because I had so much to learn. But I saved and saved. Last month I was able to buy a $20 gold coin which has melt value and numismatic value. |
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New Member
United States
12 Posts |
I'm with Macmercury, the 1 gram bars are a great way to get moving (65$ or so at todays prices). Can't go wrong with PAMP, you can always upgrade to the 2.5 grams when you have a little extra (145$ or so). Obviously, the biger the unit the more gold you get for your money. You're not going to have much luck buying gold, that's worth owning, for less.
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Valued Member
United States
376 Posts |
That's what I was thinking of doin is starting out with a few grains here and there. But thanks everyone. Definitely not buying fractional grams ever again
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Replies: 27 / Views: 2,904 |
Posted 08/08/2012 3:30 pm
