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Best Way To Buy Gold

Discussion in 'Off Topic Threads' started by wireguy, Mar 6, 2010.

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  1. wireguy

    wireguy TS Member

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    What is the best way to buy physical, hold it in your hand gold? Like 1 oz "coins" from a trustable source with a good reputation.
     
  2. Steve W

    Steve W Well-Known Member

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    Some jeweler store has them in 1~10 oz. sizes.
     
  3. loop02

    loop02 Member

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    If you are buying in Quantity, I buy from a company called Tulving in Ca. His minimum order is 10oz., I think. His premium was $46 a coin, someone else wanted $179. Little dealers buy from big dealers and mark it up. If you just want one, go to a local shop and haggle.
     
  4. shannon391

    shannon391 Active Member

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    Monex, kitco or your local coin shop, Try to pay as little above spot as possible. K-rands, Eagles, Maples, Philharmonics, are reconizable pieces.
     
  5. Bob Schultz

    Bob Schultz Well-Known Member Supporting Vendor

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    There is a ETF (Exchange Traded Fund) that is backed by gold on deposit in London. It's symbol is GLD and you can buy it through any online trading service like Scottrade or T.D.Ameritrade or Etrade. It's price fluctuates with the price of gold. The fund charges a small fee (less than 1%). Thjey currently own 31 million ounces of gold! They actually have the hard metal on deposit.

    Thanks to the ETF format, the fund offers direct exposure to the value of gold in a more liquid and convenient package than burying gold in your basement. Instead of buying guard dogs and a security system, you pay 0.40% per year. The fund sells gold held by the trust on an as-needed basis to pay the trust's expenses. As a result, the amount of gold represented by each share will fall marginally over time.

    Most advisors today recommend 5-10% of your portfolio in gold. This is a convenient way to do it.

    Bob Schultz
     
  6. Mark425

    Mark425 TS Member

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    The problem with buying physical gold is, you pay spot plus a hefty fee and when you sell it you will be lucky to get the spot price. So...unless you feel that gold will go way up your going to loose. Now if you are collesting, want it for fun, or have it for when our world ends....thats another thing all together. For an investment, Bob is correct.
     
  7. Bob Schultz

    Bob Schultz Well-Known Member Supporting Vendor

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    One other thing. I have a couple of gold 1 oz coins ... they just are cool and feel so good! One I won in Las Vegas a long time ago. Remember the days of shooting for sterling silver buckles with gold coins in them?

    Bob
     
  8. shannon391

    shannon391 Active Member

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    I bought a fair amount at $330 oz, I think I did ok dumping at $1,100.
    If you try hard you can often buy at spot or close.
    Some forums trade private when other members need cash.
     
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