Want to start buying gold

I want to start buying gold but i'm less than a novice to say the least lol the only thing i know is that when your buying gold you should try and buy the most you can and not small stuff.

http://cgi.ebay.com/NEW-5-GRAIN-PUR...tu=UCC&otn=19&ps=63&clkid=7756638828548189998

is this something worth buying?

http://cgi.ebay.com/24K-Solid-Gold-...tem&pt=LH_DefaultDomain_0&hash=item4ceffb2fae

how about those?

http://cgi.ebay.com/1878-Uncirculat...tem&pt=LH_DefaultDomain_0&hash=item4ceffa59e2

shouldn't this be alot more? if not, why not?

http://cgi.ebay.com/GOLD-BUFFALO-BA...tem&pt=LH_DefaultDomain_0&hash=item335e2a0057

whats a 100 mills mean?

how about those gold flakes?

if this is all junk and i should stay away is thier people here that are reliable and sell gold at decent prices?

 

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Avoid all those links! avoid listings about "mills", flakes are a poor investment.

Yes these things are mostly all junk. The buffalo bar may not be, but I didn't read the whole description because I think you are looking to invest in something more solid and reliable as an investment.

Don't buy anything. Keep reading and YES, there are reliable/reputable dealers from whom you can choose to buy. 'Decent prices' are something you must determine for yourself based on your budget.

For now, save! save! save your money! and keep reading about precious metals. There are plenty of threads here to get started following. There is a ton of information out there which you need to learn how to sort through fact from pure crap before you can even begin thinking about trusting what you read and even then what you can even begin considering before buying physical precious metals.

Do your homework before you spend your money and make big mistakes with bullion.

 

Just a few links to whet your whistle:

APMEX [Online Dealer]

Provident Metals [Online Dealer]

KITCO [Online Dealer / market news]

Johnson Matthey [One of the oldest US Assayers, Bullion market info, etc]


Others will be along to provide advice, insight and recommendations to get you up to speed on topics, links, strategies, difference in PM products and the scams to avoid.

 

To get started to buying gold, try the us mint first.

 

The US Mint sells collectible numismatic coins directly to collectors. The US Mint also mints bullion coins which are sold only to a small dealer network who in turn sell to other dealers that sell retail to the public.

An investor buying physical bullion does not typically shop the US Mint because the Mint charges a significant premium (mark up) above spot metals prices for their collectible coin products. However, you can fell secure in the fact that these products are quality precious metals as indicated on the content of these coins.

 

When most people get the urge to own gold they don't want to wait.
My first buy was a quarter ounce $10 AGE. After that a tenth ounce $5 American Gold Eagle. The above two coins are fairly inexpensive and a low risk.

 

I don't know where you heard that, but it's wrong. If you want to get off to a good start, buy only American Gold Eagle coins until you are certain that you are no longer a novice. Things that look like a bargain generally have something wrong with them and will be difficult to resell.

 

If you are less than a novice than you will surely get taken for a ride. Learn all you can about buying gold first (while you save more money). You really can't start buying gold until you have around $300 saved up.

If you want to start small, I like French Roosters and Swiss 20 francs. They are about $265 each and are .1867 of an ounce of gold (about the size of a nickel). They are easy to find and easy to buy if you only have around $300 to spend.

http://www.apmex.com/Product/19/Switzerland_20_Franc_Gold_Coins_Brilliant_Uncirculated.aspx


If you want to wait until you have $700 saved, then go for a 1/2 oz. gold eagle.

It all depends on your budget and how long you want to save before you start buying.


PS ..link was for display purposes only. I dont reccomend buying 1 coin from Apmex. Shipping is $20 and thats crazy for 1 coin. Buy local or sometimes ebay sellers have free shipping. If you are buying 20 ..then sure Apmex has decent prices for that.

 

Yes, stay far, far way from those links. Have you already started in silver? If not, American Silver Eagles are a great place to start if you don't have the funds to buy gold. ~$400 will buy a roll of 20 eagles.

 

i own the spider gold fund it is real gold in the bank of New York. I don't pay a premium and I don't have to worry about a thief. No I don't pay to buy or sell the fund. Ice

 

GLD is a trust. The gold is stored in London, not New York. And you don't own gold. You own shares in a trust that owns gold. The premium you pay is the expense ratio which is about 0.40% annually, so the longer you hold it, the less gold there is per share. It is a grantor trust for tax purposes, so unless the shares are held in a tax deferred account, hopefully you are reporting your share of the trust income from gold sales and expenses on your tax return every year. You are required to do this whether or not you, personally, sell any shares. And you are paying to buy and sell the fund even if you don't pay commissions at the bid/ask spread.

 

A Good Source

I believe you'll find the US Mint to be a relatively uncompetitive source for purchasing precious metals, and many of their products will be difficult to liquidate. I may be incorrect for the general public, but I've virtually always been able to find a better source for often a more competitive product. There has been some good advice provided in this thread, but sage advice is that one first learn the value of the various products. Certified Gold Eagles are a wise investment, which have a strong resale market. Various sellers will list "loss leaders" on auction sites to attract bidders, and winning one of these auction can often be a "good buy" if you know what is being sold. I constantly test the buying public on auction sites to determine their understanding of PM products. A good example of buyer naivety is that I currently have a 1 ounce 24 kt. Gold U.S. coin, certified PCGS MS69, listed on eBid for less than spot gold price, and a "buy price" that can't be surpassed. The auction title states that it is the cheapest price to be found, but many buyers do not understand what is being sold. I have placed that auction on several sites other than eBay (where there are knowledgeable buyers), to determine the knowledge of site clientele. Many sites have uninformed buyers, and a knowledgeable buyer could really be a "winner". There are sites where mint products are sold at less than the price offered by the U.S. Mint, which can be located once one becomes informed and has perseverance. Happy Hunting!!

 

Specific Questions Beget Specific Answers

I suggest that if you really want specific answers on numerous items, you'll be better served by asking individual specific questions, germane to the item of concern. There are many here, more than willing to answer specific questions on an item, but your aforeposting
would require great effort to properly answer, and normally will get an all encompassing general unspecific answer.

 

That is great advice.

Also, understand what spot price is verses premium. Avoid slabbed coins in the beginning. What ever you do, do get started. I like art/gold coins, so I pick them up when I stumble across them. The ramdom year First Spouses on Apmex use to be a pretty decent deal, but "deals" change. - Beware of shipping charges.

Good luck. If you are new to CT, I wish to welcome you.

 

Stay far away from any thing that says 100 mills on it. 100 mills is just a "fancy" name for silver plate (or gold plate if it exists). I do not think that there are any 100 mills gold bars but if there is such a thing as 100 mills gold, then stay far away from that also. Silver plated or gold plated coins and bars are not what you want to buy.

 

thanks for all the replies. I'll clarify a bit to what i'm looking to get.

I'm the kind of person that would rather have a small bag of diamonds than a box of diamonds rings, thats how i prefer things.

I'm not really interested in silver coins because to start investing in them it's alot buying and takes up alot of space.

I don't really like gold coins for the most, don't get me wrong if their is a good deal on something or something that will sky rocket in value i'll buy all they have.

What i'm looking for is bars, a while ago I had the 1 troy oz. silver bars. That's what i'm looking for. Like the one link that had a 5grains bar for sale. I want things like that, doesn't have to 5 grains but i want bars like that. I looked online brielfy for intel and basicly want to sell you things not inform you.

http://cgi.ebay.com/NEW-5-GRAIN-PURE-SOLID-GOLD-BULLION-BAR-999-FINE_W0QQitemZ160409967354QQcategoryZ39484QQcmdZViewItemQQ_trksidZp4340.m8QQ_trkparmsZalgo%3DMW%26its%3DC%26itu%3DUCC%26otn%3D19%26ps%3D63%26clkid%3D7756638828548189998

so something like this no good?

How about krugerrands?

What i'm looking for in gold doesn't have to be a collectible. I just want to start collecting gold, right now the most I would buy and this is strech is an ounce, just because it's alot of money to tie up an investment right away. I want to ease into like 1/10s of ounces.

I know the prices change constantly, but could someone give me a basic outline on pricing, like an ounce is 1000, half ounce 500,.....and so on.

Someone said that thier are people on here who sell gold. Can you point me in the direction of them, thier website, ebay store and so on.

Thanks everyone

 

something like this is what im very interested in

http://cgi.ebay.com/1-GRAM-24K-9999-PURE-GOLD-BAR-BULLION-MADE-IN-USA_W0QQitemZ270502705714QQcategoryZ39484QQcmdZViewItemQQ_trksidZp4340.m8QQ_trkparmsZalgo%3DMW%26its%3DC%26itu%3DUCC%26otn%3D20%26ps%3D63%26clkid%3D7733899773220082629

 

^^^^^^^^^^^^
From time to time I sell gold. However gold is a long term keeper.
The Krugerrand is probably closer to spot than some of the other ones. South African Krugerrands were the first one troy ounce gold bullion coins. Right now I am seeing some at about $1,250 or $1,275.
A half ounce AGE usually goes for around $675 or $700. If you can get one for $665 that's a nice price.
If you want silver bars, go for the full one oz. bars. There are collectors who want the Art Bars and there is a premium on some of the rarer ones.
Or to condense storage get a 10 ounce Englehard or Johnson Matthey bar.

 

I am pretty confident from your posts that you are going to lose a tremendous amount of money. You are attracted like a magnet to the worst forms of gold for either investment or numismatic purposes. Take, for example, the 1 gram bar. Do the calculation and figure out how much you are paying per troy ounce.

 

I'd stick with trusted brands such as Pamp Suisse & Englehard (I'm sure this community will tell you about others too). Try Gainevillecoins or Ampex