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Buying GOLD

Discussion in 'Off Topic Threads' started by rmy, Apr 5, 2011.

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  1. rmy

    rmy Member

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    Is it a good or bad time to buy gold. If you have bought recently, where did you buy and at what premium? I know very little about this and would appriciate any help. rmy
     
  2. BrowningPotato

    BrowningPotato TS Member

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    Gold is too high at this point, the return on investment will be too low at this point. Yes, it will likely go up, however silver and ammo are a MUCH better investment. Ammo, has not jumped YET, and if you buy now you will likely see roughly a 40% ROI, silver (even at $40 an ounce) will likely see a 20% ROI. Show me a single stock that will give those type of returns.
     
  3. oldgahchamp

    oldgahchamp Active Member

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    If I were you, I would be buying US Silver coins. In case of an economic turmoil or the complete collapse of our monetary system and you need to buy anything, silver will be easier to use. Can you imagine trying to buy bread, milk, ammo, etc with gold coins? How will you get any change? In the case of coins, you have different denominations to use such as dimes, quarters, halves, dollars (1935 & older) and silver "war nickels" from 1942-45. Silver is near $39/ounce now and gold is well over $1400/ounce. You will have to pay 20-25 times face value to buy silver coins today.(maybe more). Hope this helps. Larry Evans
     
  4. rmy

    rmy Member

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    BrowningPotato, Double Trouble, Oldgahchamp; Thanks for the replies.

    OK, how and where do you buy silver. Ive heard that there is a big difference in prices form company to company.
     
  5. BrowningPotato

    BrowningPotato TS Member

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    I recommend going to estate sales and looking for quarters, half dollars, morgans, dimes, and nickles, pre 1964 which are 90% silver. This will avoid a buyers premium which will generally cost between 3-10%. Buy only for silver content and do not pay more for "collector" coins.
     
  6. shannon391

    shannon391 Active Member

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    Do a search for Kitco or Monex. call your local coin shops to compare prices.

    Don't get talked into a leveraged acount from Monex unless you are a gambler with nerves of steel.

    Usually bars have the lowest premium, they come 1 oz, 10 oz, 100 oz. Don't take posession of a 1000 oz. bar as they are hard to liquidate.

    Bullion coins like maples and eagles are nice but usually have higher premiums than bullion bars. You can also buy bags of pre-1964 coins, usually called slicks or junk silver.
     
  7. grunt

    grunt TS Supporters TS Supporters

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    Check out this web site. It can answer many of your questions.
     
  8. otnot

    otnot Active Member

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    The site above is a good place to keep track of what is going on. I too would buy silver coins vs gold. Silver has more potential than gold at this time.
     
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