4 votes

Total beginner to buying gold. I'm 21 years old and would like some physical gold for Christmas

Can any of you give me some advice on how and what I should buy? I've got a couple of hundred dollars, and I am interested in gold coins I guess. What about silver? Also, is there anything I should know about things I should be doing after I have purchased the physical gold? Thanks




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1/10 oz Gold Canadian Maple Leaf

http://www.apmex.com/Product/65073/2012_1_10_oz_Gold_Canadia...

Kitco has a better price, but it's not currently available in USA.
https://online.kitco.com/bullion/completelist_USD.html

"What about silver?" I prefer silver.
"is there anything I should know... after I purchase the..." Don't lose it! ;)

http://www.youtube.com/watch?v=aKIZM1JbVUQ

addendum...

If you are close enough to a dealer where you can walk in and do business face to face, do that. You will avoid shipping fees, and you will then know where to quickly trade it back into cash if need be. I live in Minnesota, and when traveling through Minneapolis I stop by Ted Anderson's Midas Resources. It's quite fun!

with a few hundred

with a few hundred dollars.... your best bet is junk silver. Pre 1964 (the earlier the better) Benjamin Franklin Half Dollars are 90% Silver. Silver is much more affordable then gold and is a great 1st investment. It'll be good to have some physical metals before the years end IMO. Silver, I personally think, has more room for growth as there is more industrial demand for it and there is much less of it than Gold.

With only a few hundred dollars, you'll be paying a HIGH premium for say a quarter OZ of gold. I dont personally dont think gold is worth it, at this cost, unless you're buying a whole OZ, even though it ended at 1712?? today. The ups of gold are storage and just the 'gold' factor.

Silver on the other hand, has more flexibility... as in if you need to barter because you need some cash, you'll be able to break it down much easier with Junk half dollars. I prefer the Franklins over the JFK, just my preference.

Do some research around your area and find a local coin shop. Most people in the business are good people and their reviews will reflect that. FInd a few good ones and shop around for the best price. Keep and eye on the market and wait til the time is right and you'll be good to go. Good luck and congrats for switching to real money!

Their motto is "Dont Tread On Me"...

goldsilver.com

don't buy overpriced numismatic coins. stay with bullion coins.

After you bought some gold...look into BITCOIN ;)

If you are a troll, or a bot, then thanks for re-informing everyone of the BASICS!

I know Bitcoin won't shine under your xmas tree so nicely, but it sure as heck makes for a nice "gift" to people FAR AWAY!

Just a thought! :)

Merry Christmas!

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Go ahead and start with gold...

..if you like.

It's your money after all. And gold is shiny and pretty and compact and easy to carry. But after you score your first little "5 Dollar" tenth ounce, concentrate on silver for a while. "Junk" silver is the most beautiful of investments. For as long as it matters, it is "legal tender", and also it is easily recognizable and comes in convenient denominations. Before you buy that SECOND little gold eagle you should get at least one roll each of silver quarters, silver dimes, and silver "nickels."

Unless you are already a coin collector, DO NOT fall for any high end "sure to appreciate" numismatic gems. Numismaniacs place a great deal of value in the condition of a piece, and if you like to handle your metal (as do I) you risk destroying at least half its value with the lightest of touches.

Have fun, shop around, diversify, and don't talk too much to casual acquaintances or co-workers about your metallic savings acccount. The sheeple will turn on you as soon as they start getting cold and hungry, and they will remember what you talked about in the breakroom and they will blame YOU for the collapse because you are "hoarding strategic minerals." They'll readily turn you in for the reward. Come the apocalypse, practice looking as poor and as hungry as your neighbors. And as much as it may gall you, nod approvingly when they excoriate "those damned gold bugs who ruined the economy."

dynamite anthrax supreme court white house tea party jihad
======================================
West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

If they advertise then it is a scam

The above post is perfect. (I love the warning about coworkers)

I would throw in that anyone that advertises is a scam. Your local coin shop will only charge you about a 3 dollar premium for an American Eable silver coin.

I would buy all silver if I had less than 1000 to spend. I would get mostly American Silver Eagles with some dimes of Junk Silver. The 10th Ounch and quarter ounce Amercan Gold Eagles are OK.

I think right now is a great time to load up again. I took some XMas cash and bought more silver because I think we have a unique opportunity to buy while it is cheap.

I see that the NWT mint advertises on the DP so they must be pretty good I would think. http://bullion.nwtmint.com/

Shoots, brah!

You wen give me one big head you praise me like dat!

I go'n vote you up den, yeah?

Muchas majalos & Mele Kalikimaka, mon ami.

dynamite anthrax supreme court white house tea party jihad
======================================
West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

troll alert

this guy is a troll, member for a year, 4 posts total, now he's back opening the same f**** thread discussed a million times on this site. "I'm young looking to buy gold".

go to apmex.com, you don't need any advice moron.

Please don't reply to this thread anymore, this subject was discussed 1 million times, any member of this site knows the story about buying gold.

jrd3820's picture

why is he a moron?

Not every member of this site knows the story about buying gold. Just like not every member of this site seems to know about manners.

Easy dude.

Nothing wrong here as far as I can see. So he's looking for advice and it's a repetitive theme. I wouldn't call that a troll.

Patriot Cell #345,168
I don't respond to emails or pm's.
http://www.youtube.com/watch?NR=1&feature=endscreen&v=qo8CmO...
Those who make peaceful revolution impossible will make violent revolution, inevitable.

with a few hundred dollars

You could get silver in smaller values, which might actually be more liquid or valuable for barter than gold in higher values. With a few hundred dollars, you wouldn't get much gold, although it is still a good investment.

I'm 177 years old & would like some gold for Christmas as well.

Please forward Pony Express to:

Historical note: Giving of your heart, note worthy gifts.

    For they said: "If he takes gold, he is an earthly king; if frankincense, a god; if myrrh, a healer." ... The child took all three offerings...

    The Travels of Marco Polo, Translated and with an Introduction By Ronald Latham, Penguin Books Ltd., Harmondsworth, England, UK, 1976. page 59.

Much obliged.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

It's no longer possible to buy without being tracked

Don't forget about that intrusive little item in 0 bamacare.
http://personalliberty.com/2010/07/26/the-obamacare-gold-grab/
You can and should research it for yourself to make a decision about buying. For me, I feel that annanimity is now gone and every coin you buy is now reported to the gov. I'm no expert, but I think this means that if you get an audit, you might be asked to present each coin to prove that you didn't sell them without paying the capital gains tax on it.

who cares if they track you

you bought them
then you sold them
and spent it all on crack and hookers
what else do they need to know?

oh please

You can buy them without being tracked if you know where to buy them. If you have a broker account, use Credit/debit cards, or leave a paper trail in general you will get tracked. If you stick with cash you can remain anonymous as long as you know where to buy them from. Keep a close account if there are any surveillance cameras and ask if they erase their tapes after a week or so, some coin dealers do some dont. Be smart, play it safe.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

Oh Please?

With all due respect: Tucked away in the 2,300 page bill, in section 9006, is a provision that expands the scope of the Internal Revenue Service (IRS) Form 1099. Beginning Jan. 1, 2012, a Form 1099 will have to be filed to report to the IRS the purchase of all goods and services by small business and self-employed people that exceed $600 during a calendar year. Was this provision recently repealed or something? If it wasn't, that means gold sellers must comply. Gold sellers are businesses are they not?
How many dealers out there are willing to ignore the required 1099 and risk loosing their business or going to prison? There is not one place I know of that is willing to sell without filling it out. Maybe you do, and that's great. Keep buying.

purchasing by business

so you are tracked when you sell, not when you buy. But still, they could try and get you for capital gains I suppose. On the other hand it might be hard to tell if you gained or lost. Up to you to prove which maybe.

sell a little at a time from different dealers?

On a side note, the healthcare reform also adds a tax on real estate transactions over $250,000. So, that will be upcoming as well.

As I have mentioned before

Some do and some dont. You have to know your dealer a bit. Find out if he is one of those coin collector trying to make some extra cash buying other people's gold or a Constitution conservative who understands the importance of a Gold Standard. a friend of a friend says his business will get raided just for holding physical precious metals any day now, IRS doesn't scare him as much as what is really coming in the near future.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

The very idea of capital gains on our money is repugnant.

"The very idea of 'capital gains on our money' is repugnant in a free and open society." - Mark Twain, 2012

"The very word 'secrecy' is repugnant in a free and open society." - President John F Kennedy, April 27, 1961, speech to American Newspaper Publishers.

"The only thing to capital gain, is capital gain itself." - Mark Twain, 2012
If a coin is itself coin, what gain is attached to it? None. It is money itself. The gain that tax folk imagine does not exist, elementally. "Capital Gain" is "Legal Fiction" on "Legal Tender." Generally, rising prices are the result to printing too much "legal tender." Inflation is the increase of "legal tender" money supply. Why should be suffer a 'capital gains tax?'

"The only thing we have to fear is fear itself." - President Franklin D Roosevelt

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Cyril's picture

Would be really nice to get it back on foot some time, somewhere

"On the very idea of capitalism : it would be really nice to get it back on foot some time, somewhere." - Lysiandad

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Try this. Ask folks how they feel about important things.

Do you feel you can spend your money better than someone in Washington DC?

Do you believe you own your own money?

Do you ever wonder if 3/4s of the States in our Union actually voted for an income tax for the Feds to collect? Ever?

Do you believe that not one state out of 50 objected to the said same income tax?

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Cyril's picture

Zombies movies can bring me nightmares for weeks. Don't laugh.

Dear Mark Twain :

I'm afraid the correct answers (%) I might get could scare me to death.

I'll try to give your idea a second thought, though.

Thanks for the tip.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Lordy.

Paging through my notebooks, I could not find much in the way of advice, as I have never addressed a situation such as you present.

I came across this here note to a lovely lass in my distant past. I don't know if it will help in your situation. Cheers me up to think of her. I will send it along. See what you make of it. I wonder how she would answer questions that we thought so unknowable way back when?

    "When we think of friends, and call their faces out of the shadows, and their voices out of the echoes that faint along the corridors of memory, and do it without knowing why save that we love to do it, we content ourselves that that friendship is a Reality, and not a Fancy--that it is builded (built) upon a rock, and not upon the sands that dissolve away with the ebbing tides and carry their monuments with them. - Letter to Mary Mason Fairbanks

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

you might enjoy this

bump

http://youtu.be/FrX3qjgy1IY

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

Cyril's picture

Silverbug here.

Silverbug here. But buying gold does make sense, sure.

I'll be buying some grams of gold when I have enough FRNs stashed for that by spring 2013, I think. Till then I'm still stacking on my principal - silver.

I'm no millionaire either, just a few hundreds FRNs each month to invest. You can't hurt your family, even if investing in PMs is very important, IMO.

People have given good advice on silver in that thread, IMO, too :

http://www.dailypaul.com/264066/investing-in-silver-as-a-col...

'HTH

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Go with silver.

It's more fun to stack and play with.

Your local coin dealer should have a shoebox full of silver ounces from a dozen or so mints.

The will have everything from eagles, statues of liberty, santa claus, and naked ladies stamped onto them (just going from my personal collection)

Flip each one in the air. If it sounds like silver, it is silver.

You will pay the going bullion rate - www.kitco.com - plus 5% which is the dealers cost of doing business and keeping the lights on.

Rounds are cool - so are the rectangular slabs. Sometimes you'll find these little rectangular chunks that look like Hershey's chocolate minis. Whichever. As long as they weigh one ounce you're 'golden'.

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