Investing/dumping cash into gold
 

I'm about to start a round of dumping some cash in gold, because of a lets face it unstable world.

What's the best stuff to purchase today, certified gold bars, bullions, other tangibles, what are you getting ?

I was recommended american gold eagles, easy to sell or trade if needed but was also told also to diversify my investments.

Would love to hear suggestions and other ideas from the experts of gfy.

you can pick up 1oz bars on ebay :2 cents::2 cents:

Pawn shops?

Have you considered just where you will store the gold?

The Greek government shut all the banks down for weeks when there was a crisis :2 cents: This is how governments do things. In a real crisis gold stored in safety deposit boxes might be confiscated, with a government note securing it's value tendered, just to make the confiscation constitutional.

Bury it in your backyard, store it uninsured in a home safe in the basement?

I like e-bay. I have only bought silver though. Also

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion
and
Gold and Silver prices, Silver Bars, Gold Bullion Coins | APMEX

These guys sell on ebay too.

The smart money's pouring into BONDS.

BONDS were beaten up prior to Friday........

NOT ANYMORE!

Oh yeah. I tend to go for rounds. I like stuff with a cool design. I will pay a little extra for something like "Year Of The Dragon" or "Year Of The Snake". Always have to say 1 Once .999 Silver.

You probably already know this - but stay away from anything clad or leaf.

Looks like gold rallied this week as shorts got squeezed, could be a turning point as the fourth quarter tends to be a period when gold rallies due to higher demand from India/China festival periods and usually goes into at least February due to Chinese new year.

Then there's the all the talk coming out that raising rates in September is now likely off the table but commentary I read says that the buildup to raising rates has already been priced in and even if rates go up, they'll stay low for a very long time and comfortably below the rate of inflation (which is higher than what's reported). Plus we have an overdue stockmarket correction (Dow closed down 500pts on Friday).

Then last week I read Druckenmiller (Soros ex partner) put a big bet on Gold in second quarter:

Stanley Druckenmiller's $300 Million Bet on Gold - Equities.com - Global Financial Community

I would suggest your timing is good.... it's prudent for everyone to have (at least) 10% exposure to gold and/or silver but physical should ideally be geographically diversified from a storage point of view. Whilst I very much doubt the US would confiscate people's gold again, it might be sensible to store outside your country of residence because when things turn bad your government will love your gold as much you do.

nice rally this week:2 cents::thumbsup

When seriously investing into gold (and not into numismatics, etc.), the only real option is gold bars.

Personally I am not that much interested about gold, unless you prepare to some scenario where you would use it simply for trading common goods. Anyways, as most people don't have gold, there would be other means to trade too. Probably just plain cash. They use it in Zimbabwe too despite of all the shit.

Can you tell me, please, when exactly the world has been stable during the past 2,000 years? Very appreciated

Thanks for the tip. I bought a bunch 1987 PSA 10 Barry Bonds Topps Tiffany Rookie Real Nice Card Made | eBay

But Krugerrand s from golddealer.com. Paying extra for Gold Eagles is gay.

Yes you right I would stay away from safety boxes in banks.

Backyard or hidden in basement, why not...

If you like design, have you looked at the chinese panda coins?

Yes I noticed the boost this week. I wonder if gold already hit bottom low for this time, or if it can turnaround and go down to $1000.

Just trying to protect myself. I suspect it could soon get worse than the 2008 real estate crisis. Even if it won't I still have my gold without loss.

What's the difference in price ?

Over here there's about $11 bucks difference, no big deal.

Nothing wrong getting 3 kruger and 3 gold eagles to diversify even if both are gold.

What you guys think of the fortuna PAMP bars ? I'm considering getting a few of those as well.

Why is that so complicated, I thought value of gold is in weight, not in nice design.
Paying extra for design :Oh crap
Diversify in weights only.

Why you don't buy just plain bars with "mandatory" stamps? Are you investing into gold or not? You know, it is nice to have something shiny, but don't confuse it with investing.

Like this:

10 oz Gold Bar - Credit Suisse (w/Assay) | Credit Suisse (Gold Bars & Rounds) | APMEX

Or this (0,6 % more expensive per oz):

1 oz Gold Bar - Credit Suisse (In Assay) | Credit Suisse (Gold Bars & Rounds) | APMEX

I think you're talking about eliminating counter-party risk:



Kyle Bass loves Gold:



Bloomberg sees possibility of wild card event leading to $64,000/oz Gold (over 50 times current price):

Chinese Gold Standard Would Need a Rate 50 Times Bullion’s Price - Bloomberg Business

isn't gold dropping?

I hate buying silver on ebay never know if they are real or not

Make sure you don't have a room full as it can take weeks to unload and be very risky to transfer.

A lot of gold on eBay is fake
Buyers beware.

Apparently you have to buy lego; lego is gold

I wonder if any serious gold investor buys from ebay.
Not the item you would buy there.. Unless it is some small "for play".

Good point. I buy silver off e-bay, but it is usually only one or two onces of silver at a time. I am only playing, Slowly building a collection. When I talk about buying silver and paying extra for a cool design, I am only talking about a few extra dollars on a deal.

Although, I notice that the big dealers are on e-bay.
JM Bullion Ebay store, NGC and PCGS Certified Coins items in JM Bullion store on eBay!

If I were to get into gold. I probably would buy gold on e-bay from JM Bullion's ebay store, Once I did more research and verified that was their store. And if the e-bay store price was cheaper that their website.

Why go through ebay and pay a higher price? Thousands of better sources direct with better product:

Buy Gold and Silver, Sell Gold and Silver - GoldSilver.com
Gold Coins Minneapolis | Gold Bars St. Paul | Silver Coins and Bars | Platinum and Palladium Bars | Miles Franklin
Scottsdale Mint - Home

Fake Gold Bar Credit Suisse 1oz 24ct Layered Bullion Bar Ingot Replica | eBay

(Fake gold bars with Customized logo - Free artwork and design,all size is welcome)

Chinese Stockmarket just fell 9% ...... largest drop since 2007.

China?s Stocks Sink Most Since 2007 as State Intervention Fails - Bloomberg Business

i believe diamonds are more convenient in crisis, better to move, better to trade
big hustlers have diamonds hidden somewhere,hard to find

Diamonds just have value due to cartels and marketing

To trade with who? Do you know much diamond experts? Or if we go to another road; pieces of glass will do the same.

Sure but they're not necessarily as useful as gold for trading, which is why gold has been money for thousands of years. Demand for diamonds right now is a bit weak too...

De Beers Said to Cut Diamond Prices as Much as 9% - Bloomberg Business

Yea, More difficult to price a diamond. Price is a little more subjective base on cut, clarity, color, and carat. Gold is just weight and purity. I don't think they have a spot price for diamonds.

Isn't it better and easier to trade ETFs instead of physical gold?

By the way, people flocked to treasury bonds when the market CRAPPED OUT recently.

Expect more of that as China BURSTS the Global Asset Bubble

I wouldn't be surprised if the Dow hits 6500 or lower within 2 years.

Silver over gold. Please consider Bitcoin as an investment too. And a solar powered atv!

Silver has some major advantages over Gold in boom times:

(1) Silver is MUCH rarer than Gold (above ground) - and yet few people know this.

(2) Silver is consumed at a vastly growing rate & therefore not much floating supply.

(3) Is the most conductive element in the world & therefore has huge industrial uses including solar as you mentioned.

(4) Mine supply is approaching a peak and will soon decline.

The downside is that in a global economic slowdown.... less industrial demand means more supply and therefore lower prices. In a QE or inflationary environment, Silver will still do well but perhaps not as well as it could if there was also industrial demand at peak levels.

I bought over 1000 oz of silver on ebay when it was below 10 and sold it for melt at 17 - 20. No one with good feedback has the time to fake a johnson and matthey ingot of silver, that is just stupid. All that was a pain in the ass to hold as well, I had one 100oz bar for a door stop.

In my opinion. Don't mess with the gold bars, to many fakes out there and you will be upset when you pay $1100 + for a clad bar. Stick with Bullion, from Canada or UK. The gold is 24k and the US american eagles are only 22k.

Canadian Coins are very nice to look at as well as the UK Britannia! :thumbsup

Again....buy Krugerrands. Many shops that deal with gold will only pay you melt value if their are nicks and scratches on Eagles and Maple Leaves. Krugerrands have a little bit other metals mixed in to make them stronger. Actually I think Eagles have some other metals mixed in as well but I know that Maple Leaves are very soft and get nicks very easily. But I would not know because it is retarded to pay a premium for an once of gold just because it is from Murica. Dumb as fuck actually.

Also Silver is bulky compared to Gold. You can care huge amounts of $$$$ in gold in your pockets and if you wanted to carry that much silver you would have to load up a truck.

I really think if i bought physical gold i'd bury it the backyard. The thing is if I have $100K of gold bars how do i turn it into paper when I choose to with the least risk? Crazy to sell/trade online I'd think. To buy it online surely you can't use a credit card or online check?

It would be dumb as fuck to use a CC because then you just have to pay more money. You simply call up Ken at 800 2225 7531 and lock in your amount, type of metal, and price. Then you wire the money to their bank. About a week later your letter carrier will knock on your door and you sign for it. They hand over a box and the nosy letter carrier makes a comment of how heavy it is. Sending it USPS is economical and it is insured. That business runs like a machine and they are very pleasant to deal with. I am sure they ship to Canada as well.

Burying it in the backyard is stupid. The GLD is supposed to be physical metal but because its connected to the markets, I would trust it less than a custodian account like Gold Money:

Buy Gold & Silver Bullion Online With GoldMoney | Est. 2001

You can buy or sell at spot price in any of the four majors. They buy/store the metal for you on your behalf and you can choose where its kept but you also can take delivery at any time. Fees are pretty reasonable but when I took delivery I didn't think it was extremely cheap.

They're in the process of introducing a debit card so you can spend from your gold account.

What's your address?

That pretty much beats the purpose. You just have a "note" that says you have gold somewhere.
Having physical gold is real thing, having a note in some major economical or doomsday collapse is another...

As i said, you have the metal in your hand if you want it.

I am not saying custodian like GoldMoney is the end all (its better to have it in your possession) but its convenient and I prefer it to GLD or certificates or some of the other options especially if I want physical abroad but am forced to keep it with me in the US where it can be stolen or worst, where it was confiscated during the last doomsday by the US government:

Roosevelt's gold confiscation: could it happen again? - Telegraph

Does he have any domains? We can check whois.... id like to find some gold in someone's backyard :winkwink:

Anyone know a place online I can buy a metal detector and shovel (stainless steel, with dual handle and attached torch)?

theres a jewelery in every smaller city and diamonds are used to be traded with certificates that are hard to fake , at least in europe where people are experienced to suffer complete devaluation of money , not talking about the usa, things are maybe different there...
anyway you cannot pay with gold bars at a grocery store or gas station neither here or in the usa

. try to board an airplane with 2 kilos of gold without getting noticed by tax or security authorities, you maybe get the advantages of diamonds