Gold

Discussion in 'Bullion Investing' started by letmesee2, Jun 18, 2015.

  1. OldGoldGuy

    OldGoldGuy Members Only Jacket

    I am confused trying to connect your dots. He has gold coins; so? Inherited? Gifted? However, I did read the sentence where he said he NEVER bought gold coins. And therefore has no experience in buying gold coins.

    On a side note, I like how YOU can say "no win" and WE cannot. Its ok for you, but not us. Awesome. Lead by example I guess....
     
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  3. OldGoldGuy

    OldGoldGuy Members Only Jacket

    It is starting to feel like a border patrol checkpoint in the middle of Kansas lately....
     
    coinzip likes this.
  4. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I'm a strong believer in gold, but do not advocate you plunging yourself into gold without being fully informed of the risks.

    If you have saved so much to buy gold, why in the world have you waited so long to do your research? It seems to me that you may be reacting impulsively to some doomsday advertisement.

    If that's the case, please slow yourself down, and read as many horror stories as success stories before buying . . . then you'll be more cautious.

    Don't just read about the money to be made, or the wealth to be preserved in gold.

    Read about Hannes Tulving, about gold plated tungsten bars, about postal thefts of gold, about the seizure of Gus Farber's gold, and about organizations colluding to depress the price of gold.

    After you've covered all of those bases, you'll be better able to make an informed decision about where to put your money, although you still won't know for sure if gold is going up or down.

    And now, for a real tantalizing possibility, read the following . . . http://www.businessinsider.com/jp-morgan-fed-gold-vault-theory-2013-6

    - Mike
     
  5. OldGoldGuy

    OldGoldGuy Members Only Jacket

    Now I am really curious, why isn't the above post getting mod-ripped? Length of time on the site? Dealer status? I personally dont have any issue with it, but, it is an even more wordy version of exactly what I wrote. Whats with these CT cliques and side-benefits? Is there a hierarchy I am unaware of?
     
    Del Pinto likes this.
  6. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    I wonder why people get discouraged when coming to the bullion investing forum of Coin Talk? Between all the know it all attitudes, the anti-metal crowd and the "told you so" fighting that happens in just about every thread, why bother?
     
    galapac and longnine009 like this.
  7. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    Hmmm...the op is 63 years old, and it appears a woman...I'm pretty sure they didn't just fall off a turnip truck...wow...just wow
     
  8. desertgem

    desertgem Senior Errer Collecktor

    Bullying will NOT be tolerated on this forum. If you have not read the rules

    https://www.cointalk.com/threads/coin-talk-rules.34131/

    This is not a open , say, do, whatever you wish forum. It is NOT a democracy. All members are guests ( including myself) and will act as a guest

    Sorry for the interruption. Jim
     
  9. Kentucky

    Kentucky Supporter! Supporter

    Yeah, that was up for all of 5 minutes before your post.
     
  10. medoraman

    medoraman Supporter! Supporter

    Um, excuse me Peace. I know you consider me to be part of the "anti-metal" crowd and I have been nothing but polite to every new member. I do not feel a member's position on PM investing has anything to do with their level of courtesy displayed here. I can point to examples of "bad manners" on both sides of the aisle, so to speak.
     
  11. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    Actually, I don't see you as part of the anti crowd and have never really had much of an issue with you. So can I, and I know my manners are not exemplary.
     
  12. mr-cheyenne

    mr-cheyenne New Member

    APMEX (www.apmex.com) is a reliable source for bullion coins!
     
  13. Phoenix21

    Phoenix21 Well-Known Member

    The guy in the trench coat down the street from me is where I get all my precious metals - I can hook ya up. ;)

    Apmex is my preferred company to purchase from - just ensure this is where you want to store your money and you are at peace with your decision. :) Remember: everyone and their mother will have a differing opinion so make sure you develop your opinion wisely. I wish the best to you!
     
  14. -jeffB

    -jeffB Greshams LEO Supporter

    Read that post, and compare its tone to the ones getting "mod-ripped".

    On this forum, for better or for worse, tone matters.
     
  15. SunriseCoins

    SunriseCoins Active Member

    Lets look at it this way. If you can not find a place or few places to give your funds to, so you get the real stuff and not fake you got real problems and I have a hard time understanding how then you got 50k to free up and lose money on right now to buy the Gold.

    He posted a large amount of funds he wanted to spend and people are going to reply in all fashions. Some nice some rude some with extra advice or rather more personal direct way of thinking on PM's its a board this is common place.

    Problem is he never did ask for advice when or how much to buy but rather where to find a solid place to buy it so to speak. Which is weird and why I do not really think the post is even real, as in this is a spoof posting maybe not but its really to hard to believe but incase it is real I wanted him to think about buying more mid next year.

    I personally think investing that much in Gold is a bad idea or silver they are both in a bad down trend and it will get worst before better as far as higher trade levels in PM's. 60k is not a bunch for some but that's the 1% which I would bet he is not or he would not be here posting. The Fed and Gov keeps working the system for Fiat this is because most people in the country use Fiat and Live or Die by it do not make the same mistake it will be costly down the line.

    Remember folks Work the Average not Break the Average. Strong hands wins the day down the line.
     
  16. letmesee2

    letmesee2 Active Member

    Thanks to everyone for the guidance and concern. I have read many remarks on CT about paying too much for coins on Ebay and warnings how not to be "taken in" by disreputable coin dealers. I was sure I would get some great advice in this area, as well. It is much appreciated.
     
  17. letmesee2

    letmesee2 Active Member

    Part of an inheritance.
     
  18. autograf

    autograf Member

    I'm by no means an expert but have bought about 10 oz of gold this year. I've bought most of the gold from APMEX and look for times when they have bargains. I certainly wouldn't drop all $50K into a single purchase. I would look to spend $3-$5K buying gold per purchase. I'd look for specials that they have and figure out what gold pieces have the lowest premium on them. When possible, try to combine ebay bucks and credit cards where you can get 1-2% cashback or some bonus as well. APMEX and MCM on ebay do probably some of the bigger promotions. They always have some promotion going on for the most part--silver or gold.

    I've found it tough to buy PM's at my local coin shop as with the 6% state tax, it's tough to match pricing from APMEX. Where they do compete some is on some numismatic coins that you might like to add to a collection. And they've also sold me some tougher date 1/10 oz gold pieces at prices well below what I could buy them from off ebay/APMEX/MCM.

    I like numismatic coins as well and have bought some of them but they have MUCH more premium than bullion does obviously. Easy rule is the smaller the piece....1/10 oz versus 1 oz, the larger the premium. The Buffaloes at $1217 a couple weeks ago were a great deal as it was about $20 premium above spot (and WELL below what I bought my lone Buffalo for back in February). I didn't buy the most recent Buffalo deal because I didn't have the liquidity. I've bought some oddball foreign coins from APMEX like Austrian Ducats, Mexican Gold, Uruguay and others and have gotten them below spot with the eBay bucks deals. Just be patient though and do the research like everyone has told you here.

    The biggest thing is WHY you are dumping $50K into gold? What's your endgame? And have a set procedure for buying. You are in a great spot IF you have $50K sitting waiting to buy. Buy on dips. Wait on crests. And realize there's no guarantees with gold as there isn't with ANY investment. Hopefully $50K is a small portion of your total holdings. Physical Gold and Silver is a fun hobby and investment. Just be sure to be realistic.
     
  19. Ed23

    Ed23 Active Member

  20. -jeffB

    -jeffB Greshams LEO Supporter

    That's the same thing I find myself doing -- even though I should know better. The problem is that you can't identify a dip or a crest except in hindsight, and you can't use hindsight to lock in prices.

    Here's a handy chart. Buying the "dips" marked in green would have worked well; buying the "dips" marked in red, not so much.

    gold-dips.gif

    Oh, and one more thing. No matter which of the marked dips you bought, today you're under water on your entire investment.

    If you wait long enough, the gold price will rise again. But that wait might be a matter of months, or it might be a matter of decades. Be sure you're ready for a long haul that could be very, very long indeed. And think really hard about what yield-producing investments would be doing during that same time.
     
    Del Pinto, mralexanderb and medoraman like this.
  21. medoraman

    medoraman Supporter! Supporter

    Great post Jeff. Its something most do not really step back and appreciate. Its a case that medium to long term market trends are much more important than daily price dips. Buying on short term price dips can be an effective strategy for stock or bond day traders. The horrible buy/sell spread in pm prevents any such strategy from being effective unless you ONLY are talking about option purchases.

    So, knowing this, I get comfortable as to what I consider the long term value of a metal, know how it fits into my overall portfolio, and then buy the prettiest shiny I can. :)
     
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