I got the chart from goldprice.org -- you can still see their watermark faintly. The red and green annotations are mine.
I would wait...or if you plan to do $50K I would consider DCA'ing with $12.5 at a time...is this as an investment? or collectable?
I would buy numismatic gold rather than bullion pieces. That way, you have a play both ways--gold content plus value as a collectible coin. Look at Saints, $10 Indians, $5 and $2.50 Indian Heads. Fun to collect, also. Or, how about the $10 gold pieces that are part of the First Spouse series with some version of Liberty on them? Some of them you can get for not much over their bullion value.
Crazy idea. Gold isn't priced low enough to be thinking of going all in and the fact that you're even thinking about it says something is wrong with your logic or thought pattern. Stick around though and hang onto to that money for now, you'll learn when to buy big later on down the road.
I've always preferred APMEX myself. However, for that amount you'll need a direct wire transfer or pay in person. As to 50k being the subject of a lot, to some an unrealistic amount, I don't see why. An average car costs that much or more, so why is hard to conceive a person investing that amount in any form?
IF I had that kind of money to invest/spend on gold, I would make staggered purchases (possibly) from different places, keeping it under the $10,000 required reporting threshold for cash purchases and/or 25oz total purchase threshold. Just sayin'.
I just bought some gold and silver from Provident Metals. At the time of purchase, they had the lowest price. I've bought from other places too. Do a little homework and buy in smaller increments and it'll average out in the long run.
To coleguy, who said the average car costs $50,000 or more, there are lots of good cars well under $30,000. Think Toyota Camry, Honda Accord, even many Lexuses and Infinitis. You need to check out Consumer Report's annual buying guide issue (April) if you think the average car costs over $50,000.
Just a simple referral - I've been using JM Bullion for the last few years. Every order has been correct, I had a few random gold and silver bars tested on an XRF and it was all good. Politics and investment advice whatever... If the guy wants to invest his money and he has that kind of money, I'd imagine he already knows a bit about how to make it. Precious metals are a good hedge against inflation (which in my own opinion is here in spades with all of the minimum wage insanity and the healthcare taxes we're seeing). I keep buying as they go down in price and lower my DCA, and when they start going up I buy the dips. I'm doing well. I'm not getting rich quick, but I am building wealth slowly and learning a lot doing it. Cheers!
Perhaps you are right. I don't shop for cars at Consumer Reports. We buy mid range vehicles new and that 50K seems to be the average for us. Of course in CA I suppose things are a bit more with our emissions requirements, than in most other places.
Well b/c most of the members here talk about buying a gold coin as in a $2.50 gold Indian or $5.00 Liberty coin. Sure, once in awhile somebody will talk about buying a St. Gaudens Gold Coin $20 double eagle but it's not every day somebody comes on this forum and says, "I'm gonna drop down $50,000 on a gold investment", when there is no inclination whatsoever gold is gonna go up anytime soon. It's just not the right time to do something like that, gold is expected to keep going down in price, waiting for a better time frame would be much better. jmho
