Most reputable places to buy physical gold and silver
 

Let's hear em.

I know lots of people on gfy buying gold and silver

I buy gold finger.

GoldDealer.com - Great National Pricing - Free Shipping

Great guys, I have done a lot of biz with them the last 20 years and never once any issue. They might attempt to sell you numismatic coins. Just politely decline and say you only want bullion.

I have bought gold just once, and it was for as a present (tiny gold bar), and I don't think that you will shop from the same place (physical store). So, I have nada.

Thanks, I will check them out.

Find a local source, negotiate yourself a small margin above spot. Things to look for in a good source:

Lots of employees at the physical location ready to help (on busy days, you will not have to wait as long), available by phone and email, good online reviews, etc.

If you buy enough quantity at a time (only takes $5k-$10k per order to be a decent-sized buyer), you can get very close to the spot price. :thumbsup

Smart move......... spot silver just fell under $15/oz

Scottsdale Mint (have some awesome product & monster boxes)

Buy Gold and Silver, Sell Gold and Silver - GoldSilver.com

Buy local, even small towns usually have somewhere that sells gold and silver. Even some banks here in Canada will sell it, you just have to order in advance.

:thumbsup:thumbsup

Excellent insurance for when the shit hits the fan and great timing as both Gold and Silver are now selling at below the cost of production which should seriously limit the downside risk. I suggest go with a well established company rather than local:

Scottsdale Mint (they accept Paypal)

The United States Mint

Selling below cost of production at 1170 $ per oz? Also, the price of gold also determines worthwhile digging sites and methods, just like with the oil.

As gold is highly speculative commodity, there is always market risk.

Yes - some have lower all in cash costs and some higher but the average cost of getting 1 oz gold out of the ground across the mining industry is around $1200 USD. Of course, it varies but most analysts use this figure in their assumptions:

The Scary Number for Gold Investors: $1,200

You have a bad habit of stating the obvious. I said there was a serious limit to downside risk and that applies if you buy below or around the cost of production. That does not mean there is no risk.

Can gold fall below $1000/oz? Sure it's possible but I doubt it would stay there for very long as it means many mining companies go bust, projects shelved, mines get closed as explained in the above link and that all means lower supply. Prices then have to go back up again.

Having an oz of gold or silver, is not a good investment at all. We see people pretty much daily, trying to sell their wafers, that they bought when the metal was high, now when they need money, they have to take a large loss:2 cents:

Who said they're supposed to be investments? If I want to invest, I'll put money in real estate or stocks or in a business not in a metal like gold or silver. Gold and silver are simply money, an alternative to fiat currency and, over time, a superb store of value. A lot of people have forgotten since dollar was taken off the gold standard.

Today, the paper notes you carry around in your wallet are technically just currency (not money) and as you've seen with all this QE, totally subject to abuse and dilution of value.

For that reason, many investment advisors recommend everyone should have at least 10% of their liquid assets in the form of gold or silver as an insurance policy. There's so much debt in the world and in particular the US, that id say its pretty crucial today.

Then again, if I look over the ten year period from 2001 to the nearest peak at 2011, Gold went up around 600% and silver around 1000% - so even if you do call it an investment, I'd hardly say that was a poor performance.

Sure but in any market you have buyers, you have sellers. Do you see people daily selling their stocks? No because stocks are not a physical asset. The basic rule is buy low and sell high but people have a tendency to buy something when its already gone higher and gets some media attention rather than buying when its on sale.

End of the day, the whole point of owning physical gold and silver is basically to own an asset that has "zero counter party risk". If you own it, you carry something with an intrinsic value that isn't linked to any banking system, central bank, government, counter party etc. It's a total pain in ass because security and storage is a nuisance but it's one of the very few ways to own an asset that isn't tied to a counter party in one way or form.

As I said, the current gold price affects to the price of mining, as with higher prices it is profitable to mine less productive sites, and thus the mining price goes up with gold prices. It's not fixed. With lower gold prices the mining price will go down (to some point).

Mining companies going bust matters if there is still enough demand for gold, that makes the price to rise again. Although if there is not enough demand, it doesn't matter if there is less production. Less demand requires less production.

I agree with a the guys who are saying buy locally if possible. If you order and have it delivered they are going to use the USPS. I have bought quite a bit and had it delivered this way. However the busy body mailmen were always commenting how heavy it was for such a small package. You gotta wonder if one of those cunts is telling his friends and family that a guy at such and such address is getting deliveries of precious metals.

If you buy locally which should not be a problem if you are in South Florida then make sure you use cash and make sure nobody follows you home. Don't tell anyone about it either. I don't keep mine at home or on my property I use a safe deposit box at a bank. There was a cunt a few years back who had a huge safe in his house full of about $750k in metals and someone he told then told someone else and two guys dressed as cops showed up and told him to open the safe because they had a report that he had something illegal inside. The dumbfuck let them in and they robbed him. The cunt deserved it as far as I am concerned.

You should be able to find a local shop but the price may be higher and the price you get when you sell back might be lower even if you buy/sell in bulk.

:1orglaugh Oh well.

I was just about to put my new order through but when I checked this morning the silver spot price was just under $15/oz. Checked again 30 mins ago and its just under $17/oz. I snooze, I lose..... I hope at least bushwacker got his order in.