That's it I can't handle it! Someone tell me where to go to get into metal commodities?
Submitted by Mpletten on Wed, 09/17/2008 - 12:37
I have been stand offish about moving the gold and silver way since my awakening, mostly because of my lack of education. I don't want to do anything without understanding what to do, where to go, and where not to go.
Any people with a reasonable grasp tell me what to do. Gold? Silver? Am I wanting to buy physical metals or commodities? I am assuming there is a difference.
Help me! This money market stuff concern today really has me scared, since I am young and alot of my business cash is in a money market.
Thanks!
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If you can find a local coin
If you can find a local coin shop to buy from, get it there. Do not buy collectors coins, just buy for silver/gold value - I recommend buying junk silver (old US and other currency that was actually made from silver) do a wiki search to find out more about this, also check out the link to coinflation.com to find out todays value of these coins. Do a little reaseach before buying - see what the web sites are selling for and see if you can save with a local dealer- Mine sells cheaper and also saves money on shipping. Do not just sink all you money into this, be careful, but remember that the dollar is only going to get more and more worthless!
Eagles should be easy to find
When most people talk of dealers being out of stuff they are usually talking a large bulk order.(compared to what most of us can afford)
For example, one guy said he couldn't find 100 oz. bars anywhere. Then he later admitted a dealer had 3 of them, but he wanted 10. So to him, the dealer was 'out of stock' and so he didn't buy. What an idiot.
(He also didn't say anything about how many 10 and 5 ounce bars the guy had or didn't have, or about Eagles or 90%)
Also, people are claiming dealers are 'out' of Eagles, yet they are only asking for 2008 varieties. If they didn't care about the year on the coin, which the older ones are usually cheaper, then they should have no problem finding silver to buy.
And for the record, NWT mint (http://nwtmintbullion.com) as well as my local coin dealer, continues to charge reasonable premiums over spot on all products. I have yet to see any evidence of paying +$15 an ounce when spot is down to $10 or $11. If people are TRULY paying upwards of $20/ounce for an Eagle while spot is so low, they are fools. If a dealer quoted me that price, I would laugh in his face and never return. (at least for a while and then check back to see if he came to his senses a few months later)
NWT Mint up in Auburn, Wa
has the best prices if you can afford 60 ounces of silver/5 ounces of gold/platinum/palladium at a time. They don't charge shipping or insurance, but their delivery times can be long. Be sure to get a commitment on shipping date up front. (if you live in that area, they claim you can purchase via walk-in as well)
Otherwise, I would buy in cash from a local coin shop. You will pay a higher premium, but you save on S&H (from dealers other than NWT) and you can't beat the personal relationship. Most dealers tend to give you better deals once they get to know you and one day you may need to sell back.
But under ALL circumstances - BUY PHYSICAL AND TAKE DELIVERY.
DO NOT, under any circumstances, by ETF's or trade on margin with people like Monex Atlas accounts. (Unless you are in the habit of walking into a casino, plunking down all that cash and then walking out without even sitting down at a table to play.) SOME people have made money that way, but they truly just got lucky. (the Atlas agreement fine print sucks rocks - so I never agreed to it)
physical only and take
physical only and take delivery ... i trade with monex but i haven't been able to get through to them today .. everything is jammed .. the panic has started
i already accumulated more than 1,000 ounces though .. all i could afford anyway ...
my stock is 1,100 onces silver bullion ... 300 ounces silver eagles
Two 10 ounce silver bars
and 3 ounces of gold
APMEX
Does have some 90% silver.....this is all I would buy from them.....
Here
http://www.apmex.com/Category/17/90_Silver_Coins_Rolls__Bags...
I have bought plenty from
I have bought plenty from Apmex and have always been happy. I always bought .999 pure generic rounds, usually a .49 premium. But they have nothing, nada,zilch right now. I have been trying to buy since spot went below 13.00. the only .999 silver they had were eagles @ a $3.50 premium, or shot @ .99 premium.
"It ain't what ya don't know that hurts ya. What really puts a hurtin' on ya, is what ya knows for sure, that just ain't so."
"It ain't what ya don't know that hurts ya. What really puts a hurtin' on ya, is what ya knows for sure, that just ain't so."
They have the
$100 bags of 90% silver in stock now...that is what I would be buying....stay away from Generic Rounds, and "SHOT" LOL what the hell is that??
takeaction...
Why stay away from generic rounds? Still 1 oz. of .999 pure silver. as far as spot goes, it will get me as much as an eagle if /when I want to sell. And, if it comes down to bartering, what cost me less will get me the same as an eagle. Am I missing something. I do agree with the "shot" though.
"It ain't what ya don't know that hurts ya. What really puts a hurtin' on ya, is what ya knows for sure, that just ain't so."
"It ain't what ya don't know that hurts ya. What really puts a hurtin' on ya, is what ya knows for sure, that just ain't so."
Generic rounds DO NOT
give you as high a premium on buy-back as Eagles. That's why they are more prized. (at least one reason) I've never seen a generic round buy-back for more than spot, and I've never seen an Eagle buy-back for less than $.50 over spot.
The best value per ounce over/under spot is almost always 90% U.S. <1965 coins. (silver anyway, gold is another story)
After that, I buy Eagles and well known refinery bars 100 oz. The Pan-American's are really nice, molded and usually have a slightly higher buy-back than Matthey or Englehard.
Pay cash and get ask for your discount.
Pay cash at coin shop, don't leave a electronic trail. Also likely to get a discount since it releases the dealer from having to pay credit card company a percentage.
grant
paper/electronic trails
I'm so surprised that most here at DP are buying online and from dealers who, of course, record all your sales data. The fed can TAKE this data from them at ANY time and use it in forced confiscation. Read a bit about the Liberty Dollar and what recently happened with them and their sales and shipping lists. Read about Executive Order 6102: http://en.wikipedia.org/wiki/Executive_Order_6102
Local coin shops, cash only - no names, no records. Trade FRNs for metals. Period.
SO what
Knock-Knock
Who is it
The FED we have information that you purchased 4k worth of silver and gold\
Yes I did
We are here to confiscate it
Um thats a problem
Why?
I gave it all away.
.....
Yup so if you want you can try to track it down but that would entail you to hit up the neighborhood for I am a giving man and everyone in the neighborhood has a piece of my 4k in PM. Goodbye.
(Actually it buried in a undisclosed location safe from any confiscation)
And if they try to take personnel property I will just give away all my possessions to family or good friends as gifts. Ha. Seriously one must be smarter than the average dumb ass to do these things.
Okay
Then you tell me whee else to get it....Shops have ZERO right now...
I would rather buy and hide...then sit on cash!
local shop stock comes and goes
The higher it goes, the more people will cash out.
Best of luck to you all.
www.apmex.com
Is very reliable for physical delivery though s/h is quite high
Not much in the way of store front dealers here in Michigan
They have
ZERO right now.....Goto Bullion Direct right now and buy what you can....DO NOT BUY ANYTHING THAT SAYS "DELAYED"!!!
They are really good...
http://www.bulliondirect.com/catalog/selectProducts.do?cat=B...
For a beginner and to make it simple
Maybe the first place you should start is your local coin dealer if you have one. If you don't have a lot of money start with junk silver you can get dimes, quarters, dollars that have 90% silver content. It has been awhile since I have bought any coins, but there was no shortage than so I don't know what the story is now. Call first, get prices, take cash and walk out with your coins. To add, the coin dealers I have been to have it all. Pre-1964 ( so called junk), rare and collector coins, 1 ounce silver and gold coins, 1/2 ounce coins, bars, even jewelry. The stores I have gone required cash or bank transfer to purchase. No checks, money orders or credit cards. Good luck.
Well
I just called both Big Silver dealers here in PORTLAND OREGON......THEY HAVE ZERO........ZERO....ZILCH....NONE!!!! Good luck!
Don't invest in gold mines
Don't invest in gold mines and be sure to get physical possesion. Be sure you are stocked up on essentials as well, food and supplies, then silver than gold.
grant
I agree with this.. food
I agree with this.. food water heat.. take care of essentials first then metals.. problem is your going to pay much more then the spot price for silver if you can find it!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
yeah people please... remain
yeah people please... remain calm!?!?! lol
i am finding it very hard myself to remain even remotely calm, but this is the most panicked jump in gold price in a day i remember ever seeing. is it really smart to buy on a crazy buying frenzy day ? a lot of members had gold fever here back when it was over 1000 an oz earlier this year and gold sunk 20-25% in value. i cant really tell if this is a huge one day jump or if this is the beginning of a very long prominent trend for commodities in general.
prices were rising across the board last time because of futures. now im beginning to wonder if that will be the case because of rushes on the actual supplies.
gees don't make me puke...
gees don't make me puke... READ BUTLER UNDERSTAND THE COTs!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
sorry to inform you your
sorry to inform you your butler link is broken
DON'T DO A DAMN THING TILL
DON'T DO A DAMN THING TILL YOU READ THIS...
www.investmentrarirties.com
download ted butlers 61 page ebook! then buy all the 90% pre 64 junk silver you can... also silver eagles are great too IF YOU CAN FIND THEM!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Give me a ring..
1-800-627-3015
Chad Lang
Ext. 2317
Stanford Coin & Bullion
P.S. Remain calm