133 ASE!
Buying physical gold/silver
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Last: 10 hrs ago by NastyNate
I've been following this thread for a while, waiting on the sale of a property that would allow me to purchase some gold/silver. Well, that time FINALLY appears to be here, so:
Is the Wal-Mart credit card still a good thing? My understanding from a while ago was that the Wal-Mart card allowed cheaper purchases. Is this true? Are there any other similar places where it would good to buy gold or silver from?
Is the Wal-Mart credit card still a good thing? My understanding from a while ago was that the Wal-Mart card allowed cheaper purchases. Is this true? Are there any other similar places where it would good to buy gold or silver from?
Walmart card is still a good deal. For whatever reason, they set the limits low on the card (~$2,000) so it limits buying gold right now. Which reminds me, I need to request an increase.
Costco has great deals on Pamp bars. I've bought both the 1 oz and the 25x 1 gram sheets. If you already have the Costco executive membership, you get 2% back, plus you can use a credit card for additional points.
Either way, you can generally buy gold at less than spot.
Keep in mind that both gold and silver are expensive right now, and the prices are trending down.
Costco has great deals on Pamp bars. I've bought both the 1 oz and the 25x 1 gram sheets. If you already have the Costco executive membership, you get 2% back, plus you can use a credit card for additional points.
Either way, you can generally buy gold at less than spot.
Keep in mind that both gold and silver are expensive right now, and the prices are trending down.
I don't use the Walmart card but Walmart.com, for ASEs, has been consistently 1-2% cheaper than SD Bullion and 4-5% cheaper than APMEX (which is weird because APMEX is one of Walmart's suppliers)
I noticed that the price had been going up, and I wasn't sure if I should get in now because it's likely to keep gradually going up, or if I should wait a little bit to see if it comes down. Thoughts?AggieT said:
Keep in mind that both gold and silver are expensive right now, and the prices are trending down.
They fluctuate quite a bit. Gold is down about $100/oz and silver down about $2/oz over the past week or so. Both are still higher than they have been over the past year.
Dollar cost average is what most will advise.
Dollar cost average is what most will advise.
Snake Jazz said:
I've been following this thread for a while, waiting on the sale of a property that would allow me to purchase some gold/silver. Well, that time FINALLY appears to be here, so:
Is the Wal-Mart credit card still a good thing? My understanding from a while ago was that the Wal-Mart card allowed cheaper purchases. Is this true? Are there any other similar places where it would good to buy gold or silver from?
If you are near Bryan College Station, David's Coin and Jewelry is pretty good for the buy side. ASEs have a $6 over spot price…
Can't recommend David enough. Wonderful guy and store.JR Ewing said:Snake Jazz said:
I've been following this thread for a while, waiting on the sale of a property that would allow me to purchase some gold/silver. Well, that time FINALLY appears to be here, so:
Is the Wal-Mart credit card still a good thing? My understanding from a while ago was that the Wal-Mart card allowed cheaper purchases. Is this true? Are there any other similar places where it would good to buy gold or silver from?
If you are near Bryan College Station, David's Coin and Jewelry is pretty good for the buy side. ASEs have a $6 over spot price…
Two questions re: gold coins.
Any recommendations to determine FMV for a variety of gold coins?
What is your comfort purchasing gold coins that have a collector's value beyond just the price of the gold?
Over the years my father periodically purchased gold coins from a dealer in ?Philadelphia?. My mother has considered selling the coins.
My wife and I want to buy gold so we've considered buying the coins from her.
Then we could determine a price that is less than we'd pay from a dealer but more than she'd get selling to a dealer.
My only concern would be that it is likely many of the coins have a collectors value above just the price of the gold. I assume that could make it more difficult unload quickly if needed. Also the added cost of the collector's value could erase any ROI on the gold itself if the collector's market is down.
This may be moot anyway. When I mentioned this she said "I don't need the money, why don't you just wait until I die and get then they're yours anyway.."
Any recommendations to determine FMV for a variety of gold coins?
What is your comfort purchasing gold coins that have a collector's value beyond just the price of the gold?
Over the years my father periodically purchased gold coins from a dealer in ?Philadelphia?. My mother has considered selling the coins.
My wife and I want to buy gold so we've considered buying the coins from her.
Then we could determine a price that is less than we'd pay from a dealer but more than she'd get selling to a dealer.
My only concern would be that it is likely many of the coins have a collectors value above just the price of the gold. I assume that could make it more difficult unload quickly if needed. Also the added cost of the collector's value could erase any ROI on the gold itself if the collector's market is down.
This may be moot anyway. When I mentioned this she said "I don't need the money, why don't you just wait until I die and get then they're yours anyway.."
Staff - take out the trash.
Spot price would be more than a dealer would give her, but less than it would cost you to buy from a dealer.
If you want to factor collector value but the coins are ungraded factor in an additional 3% for the lot.
If you want to factor collector value but the coins are ungraded factor in an additional 3% for the lot.
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$1.75 over spot
https://monumentmetals.com/royal-canadian-mint-rcm-kilo-silver-bar.html
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if you were buying coins for someone's birth year (2017). What would you buy? Let's say a budget at $500.
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I would buy ASE's. If you buy them online you'll probably pay about a $10-15 premium per coin but you'll get them immediately. If you buy them in a coin shop you'll probably pay their normal rate, but you'll probably need to check a couple of times to find them.
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I'm a fan on Perth. Consider their Lunars. 2017 was a Rooster.
Another options is to collect various coins from around the world. Krugs. Maples. ASEs. Britannias. Phils. Etc.
$500 budget used to get you 1/4 ounce gold. Those days are gone. Go with silver.
Another options is to collect various coins from around the world. Krugs. Maples. ASEs. Britannias. Phils. Etc.
$500 budget used to get you 1/4 ounce gold. Those days are gone. Go with silver.
Brewmaster said:
if you were buying coins for someone's birth year (2017). What would you buy? Let's say a budget at $500.
I have some 2017 American eagles I think that I'll sell. Send me a PM
Not sure how many - but I am pretty sure I have $500 worth of that year…. I can look after work
Brewmaster said:
if you were buying coins for someone's birth year (2017). What would you buy? Let's say a budget at $500.
I only had 2- 2017 American eagles in plastic cases. I have a few sleeves of 2014, some 2012, 2018, 2021 but 2017 seems to only be a couple
Really like these British Royal Mint bars. SD Bullion has 1, 10, and 100 ounce bars. The Una and the Lion scene is the same as was on a 1830s gold British coin. The Royal Mint cranks out some really neat coins and bars
Premiums on ASE's are gettin' kinda steep.
Monument metals has some St. Helena coins at spot price today. You can get 4 x 1.25 oz coins
I was considering going down to the US Mint Gift Shop on 9th Street in DC yesterday on my day off but went to the Arboretum instead.
I still can't wrap my head around what happens if there is collapse-
yes it's great if you have gold bars or coins.
but what are you going to do with one ounce of gold when it's worth $4000?!
how does anyone you are trading with know it is 24 carat gold and not fake?
if there won't be the total collapse of society-
why bother with physical when you can just own GLD in your brokerage as well as miners and streaming companies?
I still can't wrap my head around what happens if there is collapse-
yes it's great if you have gold bars or coins.
but what are you going to do with one ounce of gold when it's worth $4000?!
how does anyone you are trading with know it is 24 carat gold and not fake?
if there won't be the total collapse of society-
why bother with physical when you can just own GLD in your brokerage as well as miners and streaming companies?
Get out of here with those type of questions
I joke.and I agree
I joke.and I agree
maddiedou
Why buy a painting when you can Google image search for it and look at it digitally?
Why own land when you can own a mansion in a virtual world?
Why get married if you can have an AI wife?
Your questions carry some validity. But there are so many other things beyond "societal collapse" to have a contingency plan in place for.
Why own land when you can own a mansion in a virtual world?
Why get married if you can have an AI wife?
Your questions carry some validity. But there are so many other things beyond "societal collapse" to have a contingency plan in place for.
LMCane said:
I was considering going down to the US Mint Gift Shop on 9th Street in DC yesterday on my day off but went to the Arboretum instead.
I still can't wrap my head around what happens if there is collapse-
yes it's great if you have gold bars or coins.
but what are you going to do with one ounce of gold when it's worth $4000?!
how does anyone you are trading with know it is 24 carat gold and not fake?
if there won't be the total collapse of society-
why bother with physical when you can just own GLD in your brokerage as well as miners and streaming companies?
Historically most economies have been based on silver coins
TAMU ‘98 Ole Miss ‘21
LMCane said:
I was considering going down to the US Mint Gift Shop on 9th Street in DC yesterday on my day off but went to the Arboretum instead.
I still can't wrap my head around what happens if there is collapse-
yes it's great if you have gold bars or coins.
but what are you going to do with one ounce of gold when it's worth $4000?!
how does anyone you are trading with know it is 24 carat gold and not fake?
if there won't be the total collapse of society-
why bother with physical when you can just own GLD in your brokerage as well as miners and streaming companies?
Sigma metalytics - verify your precious metals. Or just bite down on 24K gold - leaves an impression - just like the good ol days!
Guns and ammo for total collapse, too.
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
Another reason to buy physical over paper is how clearly over traded the paper for gold and silver contracts are. There is multiple times the actual vaulted gold and silver available for purchase in paper contracts. If there was a group that actually took delivery price would soar and the contracts would vaporize much like with nickel a few years ago
Silver making a decent move up this morning ($29.31).
Up 2.31%.
Up 2.31%.
What are y'all doing regarding splitting new contributions to retirement / metals? What percentage to each?
We gonna bust $30.00 today?!?!?
I think I'm officially a convert to precious mineral ETFs, as opposed to physical bullion. My journey:
I bought several hundred silver one ounce mint coins, along with a few gold one ouncers back in 2013-2014. I pay for a large safe deposit box to store them (I have found that silver weighs a lot!). They have appreciated pretty well. I'm not unhappy with my results, HOWEVER:
- I would have done better by investing in silver and gold ETFs (which I also hold in my investment portfolio). ETFs have much lower transaction costs, and you could argue lower ongoing expense ratios, while providing easy and immediate ways to liquidate holdings if needed. NOTE: metals are merely a small asset class in my portfolio, to hedge against inflation and help ensure diversification.
- The premium paid for buying minted coins, the super-wide bid/ask spreads for physical metals, and the personal hassle to buy, sell, and ship the product pretty much ensures that ETFs will outperform every time. The fact that there are no dividends paid limit the upside of metals overall, and make them useless as an income-generating asset, UNLESS you have an ETF where you can write covered calls, for example.
- The doomsday scenario never made any sense to me. If the stuff really does hit the fan, and safety, security, and sustenance are at a premium, bartering directly for those will be how it works - no intermediary means of exchange will be needed if we reach that basic level. If the stock market is gone, canned goods, guns, bullets, etc. will be where the value would be. If there is a nuclear war, we're probably all dead anyway, so who cares who has the biggest gold stash?
At some point in the near future, I will sell the physical coins - I'll post on here to avoid the horrendous discounts that bullion dealers insist on. I'm converted, but not too unhappy with the status quo.
Convince me I'm wrong, if you please!
I bought several hundred silver one ounce mint coins, along with a few gold one ouncers back in 2013-2014. I pay for a large safe deposit box to store them (I have found that silver weighs a lot!). They have appreciated pretty well. I'm not unhappy with my results, HOWEVER:
- I would have done better by investing in silver and gold ETFs (which I also hold in my investment portfolio). ETFs have much lower transaction costs, and you could argue lower ongoing expense ratios, while providing easy and immediate ways to liquidate holdings if needed. NOTE: metals are merely a small asset class in my portfolio, to hedge against inflation and help ensure diversification.
- The premium paid for buying minted coins, the super-wide bid/ask spreads for physical metals, and the personal hassle to buy, sell, and ship the product pretty much ensures that ETFs will outperform every time. The fact that there are no dividends paid limit the upside of metals overall, and make them useless as an income-generating asset, UNLESS you have an ETF where you can write covered calls, for example.
- The doomsday scenario never made any sense to me. If the stuff really does hit the fan, and safety, security, and sustenance are at a premium, bartering directly for those will be how it works - no intermediary means of exchange will be needed if we reach that basic level. If the stock market is gone, canned goods, guns, bullets, etc. will be where the value would be. If there is a nuclear war, we're probably all dead anyway, so who cares who has the biggest gold stash?
At some point in the near future, I will sell the physical coins - I'll post on here to avoid the horrendous discounts that bullion dealers insist on. I'm converted, but not too unhappy with the status quo.
Convince me I'm wrong, if you please!
I bleed maroon said:
I think I'm officially a convert to precious mineral ETFs, as opposed to physical bullion. My journey:
I bought several hundred silver one ounce mint coins, along with a few gold one ouncers back in 2013-2014. I pay for a large safe deposit box to store them (I have found that silver weighs a lot!). They have appreciated pretty well. I'm not unhappy with my results, HOWEVER:
- I would have done better by investing in silver and gold ETFs (which I also hold in my investment portfolio). ETFs have much lower transaction costs, and you could argue lower ongoing expense ratios, while providing easy and immediate ways to liquidate holdings if needed. NOTE: metals are merely a small asset class in my portfolio, to hedge against inflation and help ensure diversification.
- The premium paid for buying minted coins, the super-wide bid/ask spreads for physical metals, and the personal hassle to buy, sell, and ship the product pretty much ensures that ETFs will outperform every time. The fact that there are no dividends paid limit the upside of metals overall, and make them useless as an income-generating asset, UNLESS you have an ETF where you can write covered calls, for example.
- The doomsday scenario never made any sense to me. If the stuff really does hit the fan, and safety, security, and sustenance are at a premium, bartering directly for those will be how it works - no intermediary means of exchange will be needed if we reach that basic level. If the stock market is gone, canned goods, guns, bullets, etc. will be where the value would be. If there is a nuclear war, we're probably all dead anyway, so who cares who has the biggest gold stash?
At some point in the near future, I will sell the physical coins - I'll post on here to avoid the horrendous discounts that bullion dealers insist on. I'm converted, but not too unhappy with the status quo.
Convince me I'm wrong, if you please!
There is no right or wrong. It's a personal choice. My wife has been in precious metals for decades. Her whole family distrusts government and banks. Evenso, precious metals are a small allocation in her portfolio, but it has added up enough that we have had to upgrade safes 3x...partly my fault due to my gun addiction. I was late to the PM game, but steadily adding.
Keep doing what you're doing!
What is y'alls advice for selling physical? I'd like to sell off some of my 10oz silver bars to lock in some gains, but would like the best price. premiums are huge on websites, and shipping private party feels a little sketchy. best I am hearing from brick and mortar shops is $1 back from spot. anyone had luck with private party here through Texags?
I can't convince you that you are wrong. Everyone has different metrics and investing strategies. You are doing what you think is best.
What I will say:
I think most people are completely missing the point of precious metals. Precious metals are a store of wealth that will always be valued. It is a way to TRULY own wealth. Most of my "wealth" is tied up in 401ks/IRAs/houses.s. I do not own any of those things. If my 401k has 1 million in it, it is not useful to me until I can pull the money out and exchange that currency for goods and services. Even if I cash out my 401k, those dollars have zero value. They only have value when you exchange them for a good or service. Precious metals have value even just sitting and doing nothing. People also complain that my metals "didn't make me any money". If anyone gets into PMs to make money in the short term, they have no idea what they are doing. Unless you are a dealer or understand the buy/resell market.
Also, most of us who believe in PMs were telling everyone we knew for 5-6 years to buy metals when they were dirt cheap and the spreads were not existent. I have dozens of receipts where I paid .15-.30 over spot.
I prefer metals over ETFs because I want what the actual metal stands for; a store of real tangible wealth.
What I will say:
I think most people are completely missing the point of precious metals. Precious metals are a store of wealth that will always be valued. It is a way to TRULY own wealth. Most of my "wealth" is tied up in 401ks/IRAs/houses.s. I do not own any of those things. If my 401k has 1 million in it, it is not useful to me until I can pull the money out and exchange that currency for goods and services. Even if I cash out my 401k, those dollars have zero value. They only have value when you exchange them for a good or service. Precious metals have value even just sitting and doing nothing. People also complain that my metals "didn't make me any money". If anyone gets into PMs to make money in the short term, they have no idea what they are doing. Unless you are a dealer or understand the buy/resell market.
Also, most of us who believe in PMs were telling everyone we knew for 5-6 years to buy metals when they were dirt cheap and the spreads were not existent. I have dozens of receipts where I paid .15-.30 over spot.
I prefer metals over ETFs because I want what the actual metal stands for; a store of real tangible wealth.
Had lots of luck, lots of good people on this thread actually who are kind and legit
Where are you located? Who minted the bars?
I will likely take some off your hands!
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
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