Gold Investing
 

Has anyone here done any investing into gold? What can you tell me about it? Where do you buy? Where do you sell? Where do you store it? I'm sure there are lots of companies that will sell gold at a huge mark-up. Please tell me any tips. Thanks.

Bump. Does anybody have any input??

Check out this website:

http://www.blanchardonline.com/gold_..._investors.php

Is this site one you use and are familiar with?

Gold and silver
 

Many purchase from these guys:
http://www.nwtmintbullion.com/

http://www.bordergold.com/

http://goldprices.com/ this is a good link for viewing the daily price graphs (click on the options directly below each graph).

http://www.nwtmintbullion.com/gold_americaneagle.php this is a good link for seeing the sell and purchase prices. Don't sell at the Spot Price.

Do not sell and buy from your local pawn shop. They will do according to the "Spot Price." You will lose money. Use them only when desperate.

Dealers need to make money, so they sell for more than the gold is really worth. This is normal and should be expected.

Gold was once illegal to possess in this nation. Not too many years ago. It could happen again.

If you purchased gold and silver 5 years ago, you would have made more from your investment in silver.

If you purchase today (any day), you might make money in a day or year; but, you might also lose money if the price of gold goes down.

Many know that the price of gold and silver will go up and up and up. If your purchase goes down, just wait until it goes up again.

Gold is easier to store than silver as $700 of gold is one coin. $700 worth of silver is many coins - thus takes up more room and weighs much more.

Many are shifting over to silver as it seems to make for a greater profit.

If you have a $700 gold coin (American Eagle), and if this nation falls as it is expected it will, you might have a hard time finding someone with $700 to purchase your coin. Multiply that by how many coins you have. If you think you might barter your gold in a time of national distress, how are you going to split up your gold coin so it becomes small enough to barter?

You can purchase smaller gold coins from the dealers I mentioned above (the ones most used).

Silver coins would be much easier to sell in a time of distress. Besides, you can use the silver to make colloidal silver for ministering to your health needs during the coming time of national distress.

Storage: $7,000 worth of gold will be much easier to hide than $7,000 worth of silver.

If you store it in a bank, you might lose it. If you bury it, make sure you tell a family member where it is should you die. I know of a family that has their gold AND silver buried at the base of a tree - one of many trees on their forested 10 acres.

Houses burn down so loss could be sustained this way if you had it in your closet.

I know of someone that has their gold and silver in the pockets of the garments in the closet.

Cut a piece of thick walled PVC pipe to size. Cap both ends. Bury.

DO NOT TELL ANYONE (except A trusted family member) about your gold/silver "savings." Don't brag about it to anyone.

You might stash it in several places so if a loss happens, you will not lose it all.

If you purchase, ask the seller about the limit for each purchase that keeps you from being reported to the IRS. It is not illegal now to purchase, but you don't want the government having a record of your purchases. Limiting your purchase to maybe $9,000 might keep you below that threshold. Ask. Then purchase again at a later date or from a different dealer.

Often your gold will be shipped to you by UPS.

I hope this answers some of your questions.
Walk

Silver and gold have I none...

There are many places to buy or sell. The big problem as you note is the mark up (and mark down?)...they might sell you a higher value than what it is worth and buy back at a premium like stocks...

And now that gold is around 700 per ounce it's hard to buy a lot unless you have a lot.

One option are ETFs...you can buy gold indexed ETFs which selling price is indexed to gold...

if gold is 700 per ounce and ETF will be about 70 per "share".

Unlike stocks in minerals and precious metals, ETFs like this are really in gold. Stocks in minerals and PMs tend to be in the companies that mine gold or make the equipment.

I think some gold companies will hold the gold for you and issue you a certificate. If I had gold at home I would put them in a safety deposit box.

You can buy bullion or coins. In the past governments have made it illegal to own bullion for whatever reason but not coins because they are real currency I guess. Also coins carry with it the value often of the coin mint itself and not just the gold...the rarety of it etc etc...that is if you can get one like that...

I might be off on some places and I am sure there are others here that can do better.

Also you can invest in other metals besides gold. If you think gold will go up investing in the companies that deal with precious metals might be good too. I have seen mutual funds in PMs that had a year to day ratio of 25% or higher

Of and of course there is no gurantee gold will hold it's value and not go down

Thank you for the information. It is very hard to know where to even start on something like this. I feel that I can get information from "normal people" here and it will be more balanced than anything a company who is selling can churn out.

What are your opinions on investing in gold rather than say, mutual funds or real estate? (Obviously real estate has it's issues right now, but it is a buyers market and will probably be more so in time.)

Sorry, I have no suggestions here. I have no experience in those two realms.

Gold have I none... Silver I have. :)

I used to buy silver coins when I found an opportunity.

It is said that in times of severe depression that a silver dollar can possibly feed a family for a week because silver holds its value when fiat money fails.

It is also suggested to buy in American coins because the quality & weight are trusted and the coins are easier to sell. Buying gold or silver is not just about their current worth but also their ease of disposal should one find a time they want to sell them.

Of course this has already been covered very well before.

Be sure and buy coins from 1964 or before.

Also... don't buy the coins that are in excellent condition... part of their worth is their condition. Only the worth of the silver will be hold out if things take a down turn.