how do I invest in gold?
Posted November 9th, 2007 by hodag1
output
Sort of off topic, but I've been researching how to go about investing some of my savings in gold. I cant determine which websites are legitimate. I thought someone here could point me in the right direction. Can I buy gold "stocks" through a service such as E-Trade? Thanks for your help.
Robert
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investing in PHYSICAL gold & silver
I've been getting the best deals bidding for bullion gold & silver & junk silver on EBAY..bid during the day & during the week for best deals..you can usually pick it up for around spot price though usually less & sometimes a little more..there are a few tricks but on the whole pretty cut & dried.. have recieved all goods I've won so its safe too..if you are looking for U.S. BU 2007 silver eagles,U.S. mint has the best prices I could find,they are usually around $2-$2.50 over spot price
silver & gold
correction..thats mintproducts.com for silver eagles ..$2-$3 over spot but the spread increases as spot price goes up..it is in fact very much on topic,as Dr. Paul wants to bring us back on gold & silver money standard as the CONSTITUTION stipulates. & mandates...definition of a dollar in the constitution-"a dollar is an ounce of silver"
Also invest in:
A fireproof gun safe for said precious metals. It wouldn't hurt to use the safe for what it is intended as well;)
Procure the following:
-Contingency plan to go to a paid off piece of land (not a building..actual land to grow something on)
-Lead/brass (if you lose count buy more)
-Silver (old coins as mentioned)
-Camping/survival gear
-Old gold (small rings for trading\enough for plane tickets out of crap)
You won't be able to manage anything electronically or via phone if the sky falls....everything must be tangible.
Plane tickets? heh. You'll
Plane tickets?
heh. You'll have better luck riding a camel to Baghdad. Are you going to stand and fight or are you going to run in fright? To each his own but really there ain't no place to go if the manure hits the propeller you gotta think hunker and keep a low profile. There will not be an option to travel anywhere.
Martial law or anarchic mobs will rule everyone on public property. The power grid in Baghdad will be the envy of Americans freezing in the shadows beneath blankets in the basements of a dead endless winter. The only thing new to watch will be our frozen breath escaping from our blue lips. Have fun everyone.
I recommend everyone buy soup. Lots and lots of soup. Oh yeah.. and until then support Ron Paul for prez in '08.
:)
You might be able to leave a big city before SHTF.....hence plane tickets.
And there's much better things than soup.
Swiss America Trading
Swiss America Trading Company. . .
you can`t eat gold
My point is that gold is at an all time high,and it will get sold.
As the old saying goes....
The coldest hour of night is the one right before dawn.
In other words, it's going to get worse before it gets better, and being prepared never hurt anybody.
E-Trade allows you to
E-Trade allows you to purchase Exchange Traded Funds such as GLD and SLV (for silver.) I would also recommend buying unhedged gold and silver producers. They have recently gone up quite a bit, but they have much higher to go. Popular gold stocks can be found on the Gold Bugs indexes, the HUI Index and the XAU Index. Unhedged companies have not promised to sell their gold at a predetermined price which is usually much lower than the current spot price.
Besides ETFs and Gold Stocks, you can purchase gold though James Turk's website, goldmoney.com. He keeps the gold in a vault in Britain. You can also look into buying gold through the Perth Mint.
It is recommended that you keep physical bars/coins in your posession as well. I don't recommend keeping them in a safety deposit box in case the bank goes broke. I like apmex.com which has already been mentioned. When buying coins/bars, you want to look for coins/bars with low premiums. For example, if the spot price of gold is $800 an ounce, many coins will cost $850. The extra $50 is called the premium over melt. South African Krugerrands have very low premiums and are very recognizable. You can even purchase them on ebay once you get familiar with buying physical metal.
I also recommend you buy 90% "junk" silver coins. These are U.S. dimes, quarters, halfs and dollars that are 1964 and earlier. Each $1 of coins contains approximately .715 ounces of silver. So if you buy 1 roll of quarters ($10 worth), you are effectively buying 7.15 ounces of silver.
Here's some good beginner information:
http://the-moneychanger.c...
Good luck. Start buying now and dollar cost average down as gold corrects (assuming it does). Overall, the trend is incredibly bullish, especially as the Fed continues to depreciate the dollar.
buying gold
Several ways to do it.
Buy it from a mint, and take possession. You can contact a very reputable company such as: Northwest Territorial Mint. They are very reputable, and I bought silver through them.
Secondly, you can buy it from one of several firms that will vault the gold for you, in addition to taking your purchase order. Either of the following companies would be fine to deal with:
BullionVault
GoldMoney
I wouldn't buy U.S. gold
The way to be sure is for you to personally keep it. I would stick to small ingots and bars or private money like the Liberty Dollar. Things you can barter with when the dollar hits rock bottom and the need arises. Pretty hard to make change for a 500oz. bar of silver.
It's rumored that the government plans inevitably a "mandatory trade of your gold for paper currency of the same face value", and a recent case in Las Vegas comfirms they can.
The whole story is here http://rense.com/general7...
Thompson v. Butler, 95 US 694 (1877)
"A coin dollar is worth no more for the purposes of tender in payment of an ordinary debt than a note dollar. The law has not made the note a standard of value any more than coin. It is true that in the market, as an article of merchandise, one is of greater value than the other; but as money, that is to say, as a medium of exchange, the law knows no difference between them."
The gold and silver coins produced by the mint are legal tender according to the law and worth just face value as far as spending them, which is a tiny fraction of their intrinsic value. The first prohibition against gold didn't work as evidenced by the millions of coins that are available or in collectors hands today which would leave one to wonder how they would go about confiscation without dire results. That makes me skeptical but with this administration who knows.
Don't forget Ebay
They have coins and bullion being auctioned.
Buy bullion or coin but when you do...
When buying gold fon an investment its a great idea to buy bullion if you can afford to buy it this way. Keep in mind that when you do, you should never give your name or any other information to the seller. Give them cash, they give you the gold and then you keep it in a very "safe" location. If you're keeping gold bullion around the last thing you need is a paper trail that links you with your investment.
Drawing blank
My purpose is not to smear Ron Paul. This is a legitiamte question. I am a organizer for Paul in my County. I have spent alot of money on this campaign. I am not a troll. Does anyone have a clue where the Gold is going to come from? Has anyone thought this through?
From Mines
Should our government ever return to a metals backed currency, one would see a sudden rush to activate the thousands of idle gold and silver mines right here in the good old USA. As long as the government offered a favorable price, I do believe this would happen.
Within 60 miles of where I am sitting are over 50 idle gold mines alone. There are also several abandoned copper mines inside that same 60 miles.
Add in the other regions of the nation, plus the active mines, and you could easily have enough precious metal to back the currency within several years.
It can not be done overnight, but it can be done!
Back into the Fort Knox safe
Currently the Asian markets are buying tonnage amounts of metals from United States commodities every week. These transactions are non-stop. The two main metals that they are purchasing are gold and copper and then to a lesser extent other metals. I believe that if Ron Paul were to take office he would look into legitimate ways for our government to start buying back gold from United States citizens and from other sources in order to re-stock our depleted (non-existent) stores of gold.
Gold Stocks
Good evening,
I think you have made a prudent decision in buying physical gold. I believe in a good mixture of physical and mining stocks, one needs to asses their risk profile first.
If you are looking for leverage to the increasing price, smaller mining companies appear to be very attractive risk/reward investments. I founded a website - goldseek.com back in ‘95, which the dailypaul.com's site owner has been kindly contributing his research to for several years.
I also spend time profiling some of my favorite companies and its available free: http://news.goldseek.com/...
Kind Regards,
Peter
PS. Most importantly, Go DR PAUL!! Your comments today on CNN and CNBC are historic. People will look back at your remarks and finally then, there will no longer be questions about its wisdom.
I just bought 10k worth 2 weeks ago.
I bought 10K of Eagles about 2 weeks ago. From Aluron Metals in Chicago. They deliver to my location for free because one of their employees lives near me, so they don't charge me.
www.ronpaul2008.com
Dillon Gage is a Good Place to Go
I'd also recommend buying United States gold and silver coins unless you have some specific reason for buying foreign coins. That way you have liquidity.
Buy old Gold
In order to reinstate the Gold standard and give our money value there will have to be a confiscation of Gold Bullion. So buy old Gold. It is protected.
that's outrageous. there
that's outrageous. there will not be confiscation of gold under a RP presidency but there very well may be under any other presidency.
Ron Paul if nothing else is a champion of personal property rights. The idea that the government would be endorsed by RP to confiscate any personal property is totally baseless.
Yes we will need a lot of gold and i'm sure there can be constitutional authority found for the gov to purchase all the gold that is required to fulfill its duty to be the suppliers of currency backed by gold. simple. buy gold with paper instead of buying war with paper.
he bottom line is this
I buy my Silver from apmex.com and gold from a local dealer because he will match Apmex. THE BOTTOM LINE IS THIS....GET IT NOW!!!
maybe not such a good Idea
Since I was unable to get an explination of how Paul plans on reinstating the Gold stantard I must bring thi to your attention. Paul seeks to reinstate the gold standard. Since the Us Government doesent have any gold to back up the dollar isnt it safe to say that he would have to confiscate privately owned gold. It’s likely that the government could do this ostensibly to reinstate the gold standard.
The basic principles governing the administration of the Gold Acts and Orders,” said the Treasury Department in 1969, “are that gold, as a store of value, can be held only by the government and that private citizens and entities in the United States can acquire gold only for legitimate and customary industrial, professional, and artistic purposes.” By the way I have donated over one thousand dollars of my personal hard earned money to Dr. Pauls campaign. I am not a Troll
Gold standard
I feel 100% confident that Paul would be the last politician on earth to approve of the government confiscating privately held gold.
The U.S. government still has more gold in its reserves than just about any other country, at least as far as can be determined -- an unknown amount of that gold might actually have been sold to other parties and is merely being held by the government. In any case, even if we assume that all the gold in the government's vaults still belongs to the government, it is true that valued at today's prices there's no where near enough gold to back up all the paper money sloshing around.
Does that mean that going to a gold standard is impossible? No, it would mean that in today's dollars gold would have to be valued much higher than it is now. This is not an impossibility -- after all, even without being used to back any country's currency the price of gold has gone up by a factor of 3 over the past 6 years.
So, suppose that we go to a gold standard and that as a consequence gold is valued at, say, $20,000 an ounce. Doesn't that mean that the great bulk of gold's value is purely artificial, merely a consequence of our decision to use it as money? Yes, but that's almost the definition of what it means to use something as money. Your green pieces of paper are worth thousands of times more than their intrinsic value simply because we collectively decided to regard them as money.
So if the value of gold under the gold standard is just as artificial as the value of green pieces of paper, what's the point of a gold standard? Just one -- the government can easily print more green pieces of paper. It can't easily increase the supply of gold. Under a gold standard, the government can't inflate your money away until it's worthless.
Where to buy gold
I'd recommend California Numismatic Investments (www.golddealer.com).
Their prices are good and so is their service.
I recently bought some
I recently bought some silver. My reasoning was that if worse came to worse I would have a commodity that I could spend in smaller denominations than gold. A gold coin is good but would not be great for small purchases.
I will be adding gold soon as well.
I'm a gold and silver trader
I'm a gold and silver trader (small scale) and there is a way to buy gold below melt. It takes a lot of time and is boring work but it can be done.
But for those who are not interested I recommend you buy Roosevelt dimes off eBay. Pay about $1.20/ dime at current prices. Buy two rolls for $120. There now what could be simpler?
Silver is currently going for $15.50 per troy ounce. One silver dime contains .07234 ounces of pure silver.
100 dimes will contain 7.234 ounces and multiply this by the spot price of $15.50 and you get:
$112.127
That is the actual melt value of 100 uncirculated Roosevelt silver dimes.
What about Swiss America?
Their ad is always at the top of DP!
If I aquire any cash during
If I aquire any cash during Christmas from family, I will be turning it into some form of gold currency.
Mine your own
The best way to invest in gold is to mine your own. I managed to extract about 1/4 ozt form the southern Oregon beaches just yesterday. Hard, boring work shoveling sand into the sluice, but I always pay for expenses and a little more. I keep a small stash in the safe and sell the rest as I get enough to warrant sale.
Oregon Gold
I just moved to Grants Pass and I plan on panning for gold when the weather gets a little warmer. Do you have any suggestions for a group to join?
www.TuNeCedeMalis.com
Armadillo
The folks at Armadillo Mining Co can hook you up. Google them or look them up in the Grants Pass phone book.
Uh
The point is he wants to convert dollars into gold not gold into dollars.
I work for a living and can make a lot more money per hour than slubbing around panning for gold.
The point is..
..that I have the skills and equipment to extract heavy gold bearing sands from the beaches of Southern Oregon, which means I do not have to buy at market price. The equipment I use at the beach, including rubber boots, work gloves, a few buckets and a shovel costs less than $400.00. Add the tank and a half of gas round trip and I still have a more economical method of obtaining gold than buying the stuff. I also get a small amount of platinum and a decent workout. Anyone who lives near gold country can learn the same skills and have a productive, and sometimes profitable hobby.
lol no you can't. can you
lol no you can't. can you earn $400/ day at your job? the guy made $200 yesterday and he didn't pay income taxes on it (yet?). oh by the way there is no law requiring you to pay income tax. but ennyway the guy who finds his own gold can take a day off whenever he wants. can you? he works at his own pace and doesn't have to brown nose anybody. can you?
yeah just keep working for someone else and enjoy your "freedom"
hahaha
gold and silver to buy
Liberty dollar.com
OR there are many out there that have the coins on hand for you. These are coins in $1, $5, $10, $20, $50, $100, $1000 coins of pure silver or Copper or Gold or Platinum $3000
Thanks
May GOD Bless each and everyone.
I pray that God may see that Ron Paul will not be hurt or wounded, that he may become our next full two term President of the united States of America!
Tim
Amen!
Your prayer is my prayer!!!
Links
http://www.bostonbullion....
http://www.golddealer.com...
Here are two links with the later seeming too be the most reasonable. I too am looking into the option of hedging against the dollar
Buy GLD
To buy GLD which is an etf that tracks the price of gold...
The CEF is another option which is a closed fund that holds gold and silver.
can I do this through e-trade?
I'm a student right now. Could I sign up for an e-trade account and buy GLD that way? I did just visit their website. It looks promising. I'm going to call a coin shop in the morning as well. Thanks for the help. Robert
I just went to a coin shop
I just went to a coin shop in town and they sell gold and silver. I didn't have much to spend so I bought some silver. The prices were fair and I didn't have to pay any shipping or anything.
I have all my gold in the
I have all my gold in the bullion vualt dot com and I buy all my silver from APMEX.com.
Tim
In the MILITARY? Join my Meet-Up group
http://ronpaul.meetup.com...
A New Hope
http://www.youtube.com/wa...
Gold Eagles
Never buy bullion. The government will confiscate it soon. You can get them from coin dealers in the real world or on ebay.
Confiscation is not
Confiscation is not something you should worry about. It never happened during the Roosevelt years, and it wouldn't happen now. People voluntarily gave their gold up in the 30's, but not nearly all of it.
At this point in time I recommend heartily buying individual gold coins (and some silver as well 70% gold, 30% silver) as cheaply as you can. APMEX has good prices and fine service. All US coins and bullion coins (pre1933 and modern eagles) can be bought and sold without restriction. Foreign coin sales are subject to capital gains taxes.
Gold is insurance against a collapsing and devaluating currency. I would not invest in gold stocks unless you know the industry. I do, but I've been studying the situation for years.
Silver is similar insurance, but is a thinner market with industrial supply issues as well. It's more of a speculative thing, not a purely monetary play. It will move in fits and starts and test your patience with its volatility. Of course, silver coins are easier to trade with.
If the thought of owning gold and silver scares you, you can protect your dollar denominated savings by buying Canadian Treasury bills (3 month maturity at this time with rollover)
I highly recommend reading www.jsmineset.com for a daily education in where the financial system is headed. Jim Sinclair and his team are giving out life-saving advice every day.
Be careful and protect your savings.
Ta,
Buy coins.
Go to the yellow pages and look up coin dealers or numismatic. Expect to pay a premium $20 on a 1 oz Gold Eagle. That way you know it's legit becuase you have the coin in your hand.
ETF's
The easiest way to purchase "gold" through a online brokerage account is by buying an exchange traded fund which tracks its price such as stock symbol GLD. Here is a recent article about gold ETF's.
http://www.forbes.com/fee...
yeah but..
That would be bullion somewhere in a vault in Switzerland. I would feel better if I had the stuff in my hand. Silver isnt a bad idea either. I would prefere copper if I was going to go with a commodity fund. Platinum is good too.