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 Replies: 21 / Views: 3,407 |
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New Member
United States
6 Posts |
Hi all. I am interested in opinons on buying gold or silver bars. This is strictly for investment since they is no real reason to keep my money in a savings account with crappy interest returns. What is best to buy? Silver or gold bars, or coins? I am leaning more towards 1 oz gold bars over coins simply because it looks like I can buy them closer to spot on ebay. thanks for any help. |
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Rest in Peace
 United States
1380 Posts |
Watch out on ebay unless you are buying from someone like APMEX. The number of counterfeit gold bars and coins on ebay is simply staggering. If it's too good a deal, it's probably fake. |
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Pillar of the Community
Canada
5244 Posts |
Depending on how much money you have, the gold certainly has the advantage of being less bulky. There is also the option of gold and silver coins which can probably be obtained for close to spot. Having a good LCS (local Coin Store) will eliminate the shipping charges.
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Bedrock of the Community
United States
94367 Posts |
Just remember that your cash might not be earning much, but at least it can't go down in value. With gold or silver, you have an in and out fee, not to mention downside potential along with the upside. Whatever you do, limit your exposure to precious metals to a small fraction of your portfolio, however large or small.  |
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Pillar of the Community
United States
4333 Posts |
@Coinfrog -
Cash can't go down in value? Could you elaborate please. Even with month to month rising inflation due to billions of dollars being counterfeited by the Fed each month, reducing the stability of our paper dollars? Many see gold as insurance, or a store of value against a failing currency.
Sikfish, I recommend mixing it up to keep things interesting. Bars, coin, current US and foreign mint gold. Do your research.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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New Member
 United States
6 Posts |
thanks, I am diversified, I have a retirement account with an investment group, but also have cash to invest. In 15 years when I retire, I still want it all to be there, lol. Call me weird, but I dont like having cash sitting there the gov or banks potentially could take if the crap hits the fan. At least if its liquid and it does go to heck if Crooked Hillary get elected, I have the say what I do with it.
I have several gun safes, so securing it isn't a problem. Plata O Plomo? Lol
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Rest in Peace
United States
7075 Posts |
I seriously doubt that you are truly interested in investing in precious metals. Your last post suggests that you only are here to vent your opinions.
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Bedrock of the Community
United States
94367 Posts |
Gotta agree.  |
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New Member
United States
6 Posts |
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
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Valued Member
United States
408 Posts |
I try to keep my politics out of this site. I would recommend going to other sources than ebay to buy bullion. APMEX is a good option as is Provident Metals, JM Bullion, Monarch Precious Metals Mint and, sometimes Bgasc. I surf those sites for bullion buys every once in awhile. |
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Pillar of the Community
Canada
3049 Posts |
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.
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New Member
United States
6 Posts |
Ok thanks. Hey, I take nothing personal and was just having some fun.I have very thick skin from being a Rep all my life. Honestly though, you never know when crap might happen with banks, or someone is out to sue you for one reason or another. If you have some gold stashed, they can take what they don't know you have, is my logic. I am very diversified in my retirement account and my broker personally handles my account. I get several calls from him a month as he buys and sells my stocks. I plan on getting some more gold, not sure how much yet, maybe 20k or so worth.
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Pillar of the Community
United States
3789 Posts |
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. |
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Moderator
 United States
23731 Posts |
We hear enough about politics and the current presidential race from the media and social media we don't need to hear any more here. Keep on point to what this thread is supposed to be about and not what your political opinions are. One more political comment from anyone and this thread will be locked. This is a coin forum, there are other forums you can go to, to spout your political views.
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Valued Member
United States
424 Posts |
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.
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New Member
United States
6 Posts |
thanks for the advise. is it better to buy coins, bars or nuggets? Where is the best place to buy more? I know ebay has fees which are passed on the the buyer. I see this on ebay, should I only buy from this menu selection? PCGS (134) NGC (217) ANACS (1) thanks Edited by Sikfish
10/20/2016 11:25 am
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Replies: 21 / Views: 3,407 |
Posted 10/19/2016 12:35 pm
