Best way to buy gold - Page 2 - PeachParts Mercedes-Benz Forum

Medmech · #16 07-10-2009, 05:35 AM

Quote:

Originally Posted by jt20

Can I recall your attention to the shoeshine boy who asked for stock tips from Kennedy (or Rockefeller?)? The investor he asked quickly withdrew many of his investments from the market just before the crash.

If you are seeing ads to 'buy gold now!' or any radio personality suggesting the same.... it is way, way too late.

I am looking at a buy gold now banner as I type this.

I am not saying the media directly manipulated the prices... investors in the know have already invested and the lower ranks have followed suit... thus the price goes up.

Since you have nothing to offer than rhetoric you obviously have never bought gold or know where to buy it, the OP simply asked where to get it. The simple answer is to look for local coin shops or go online. You have no clue where gold or prices are going nor do I. But I do know gold and silver has outperformed almost all of my investments over the last 2 years.

AustinsCE · #17 07-10-2009, 12:02 PM

Don't forget that coins can be bought it 1/10's and 1/4's, so you don't necessarily have to trot down to the coin shop with many thousands. Some coins have extra collector value, but that shouldn't be calculated into what you actually have, only what you have to pay. Kitco is a good online source if local sources are dry.
It isn't artificially high, it's artificially low, if anything. It was this high 20 something? years ago, and inflation hasn't exactly gown down. Ditto for silver. On ebay, people are sometimes getting $20/oz, when the market claims it's worth 12??
Other metals can be real short term and make millions if played right, like rhodium and palladium. Platinum to a slightly lesser degree. For example, palladium peaked at close to 580, and it was below 250 in 04, and sits again below 250. Now, Rhodium went from 600 something in 03/04 to... $10'000 in 2008!

Best thing to watch for sell and buy times is find a good source for international, central bank moves, and "plunge protection"-type schemes.

John Doe · #18 07-10-2009, 12:15 PM

Quote:

Originally Posted by Medmech

If you invested in gold five years ago

...that's the point.

Skid Row Joe · #19 07-10-2009, 06:07 PM

Quote:

Originally Posted by MS Fowler

I think the title says it all. In a time of inflation, gold is often seen as a good place to park some money so that it won't lose value as the currency does.
There are several ways to buy gold. Some that I know of are:
Gold Coins
Gold Bars (taking physical possesion)
Gold certificates ( no possesion)
Stock in Gold mining companies.

I think that you pay a buyer's premium AND a seller's premium when buying and selling gold.
What are the pros and cons of each method. Some, I know--actual gold bars are not easily turned into liquid cash, and usually involve larger sums of money. Gold coins are more easily bought and sold--but how does one know the true value of a coin? Is the collector value more than the gold value, or what?
Is owning stocks or gold certificates really any better than owning stocks in a blue chip company? Some large, secure company like, say, GM for instance, or Bethlehem Steel to name 2 in the not too distant past.

I've watched as my 401K has dwindled to a fraction of its former value. I am thinking Gold might be a good hedge against the coming inflation for a portion of what is left.

People in gold are now making little fortunes -ask me how I know - that said, I would either go whole hog into gold, or do nothing. Any stock broker or brokerage house can sell/transfer your 401K to gold, if, your 401K will permit it. Check on that aspect first. You are right, inflation will be off-the-charts because of this administration's spending.

Skid Row Joe · #20 07-10-2009, 06:11 PM

Quote:

Originally Posted by jt20

its too late to buy gold. Check recent history for its lows and highs within the past 5 years. Don't buy the media rhetoric.

There is no way you or anybody can claim to know that.

You certainly cannot possibly predict gold's price parameters, just because of past history.

That's what got all these people in trouble with their real estate purchases, and 401Ks in the first place - believing the future was cast in stone from the past.

Skid Row Joe · #21 07-10-2009, 06:13 PM

Quote:

Originally Posted by LUVMBDiesels

Yes but in a doomsday scenario, will you be able to get at your gold? What do you mean the bank has been taken over by Radicals!!!

Now that's funny!

732002 · #22 07-11-2009, 08:32 AM

Quote:

Originally Posted by MS Fowler

As I understand it, the valur of the gold actually does not change. What changes is the strength of the various fiat currecies. I see MASSIVE inflation as the only way to "pay" for the trillions of pork just spent, and the additional trillions still to come. No way to raise that kind of money by simply "taxing the rich."
So even though gold may be at a 5 year high, it may go far higher.

Do you even have the option to invest in gold with your 401? I don't.

International funds could be a good bet against the dollar.
My 401 is adding a TIPS fund, treasury inflation protected securities.

Why won't taxing the rich work? That is where the money is.

Two other ways to get money, dept or printing. I think printing is the one that causes the most inflation. If inflation gets high all the commodities should do well, not just the purty shiny one.

Ken300D · #23 07-11-2009, 10:12 AM

I use this web site to reference prices and selling premiums:

www.tulving.com

Rather than accept a moderate hardship (due to past economic excesses) for a lengthy period of time - as the Japanese economy has done - I believe the US economy is being propped up (inflated) by debt in something resembling a Ponzi scheme. At some point the whole thing comes crashing down and the pain will be greater than what the Japanese have experienced.

Don't go into debt to buy anything (other than a house to live in). If you have any debt whatsoever (including that mortgage on the house you live in), pay it off entirely before buying any gold.

Ken300D

MS Fowler · #24 07-11-2009, 12:19 PM

Quote:

Originally Posted by 732002

Do you even have the option to invest in gold with your 401? I don't.

International funds could be a good bet against the dollar.
My 401 is adding a TIPS fund, treasury inflation protected securities.

Why won't taxing the rich work? That is where the money is.

Two other ways to get money, dept or printing. I think printing is the one that causes the most inflation. If inflation gets high all the commodities should do well, not just the purty shiny one.

To answer your question about taxing "the rich", There aren't enough of them. Depending on how you define "rich", anywhere from a couple of thousand to a million or so taxpayers. That leaves 100 million or more "middle class" tax payers. Because of the numbers of people in the great middle class, THAT is where the bulk of the money is.

Hatterasguy · #25 07-11-2009, 01:59 PM

All taxes are sold as taxes on the rich, than the standards are played with so the middle class can pay them.

Skid Row Joe · #26 07-11-2009, 02:21 PM

Quote:

Originally Posted by Hatterasguy

All taxes are sold as taxes on the rich, than the standards are played with so the middle class can pay them.

This guy gets it.........totally!

The guy a couple three quotes up who says; "tax the rich," doesn't get it. He's repeating some political slogan that was used solely to get votes in a campaign. Even if "the rich were taxed," it would never be enough anyway......besides, the rich pass all costs on to the consumers in one form or another.......just as the government does. There's no free lunch folks.

Hatterasguy · #27 07-11-2009, 02:23 PM

Spelling error, I fixed it.

Skid Row Joe · #28 07-11-2009, 02:31 PM

Quote:

Originally Posted by Hatterasguy

Spelling error, I fixed it.

Got it.

amosfella · #29 07-11-2009, 02:51 PM

I think we should tax the poor at a higher percentage than the rich to give them an incentive to become rich..... It's already happening. the rich extract it from the poor by raising the prices to cover the taxes. So, in an underhanded way, the poor are already paying the extra taxes imposed on the rich. Maybe it should just be done overtly and get it over with...

amosfella · #30 07-11-2009, 02:55 PM

btw, if you want to buy physical gold, check out this website....
www.bullionjewelry.com
In 1933, when all the gold was seized, jewelry was exempt. Might be somethign you'd want to look at rather than bars. Coins were also exempt. If you buy coins, don't buy ones stamped for the US by the US mint. The gov might try to claim that those are it's property. Try Krugerands, or Canadian mint coins. Go to a coin dealer, and pay cash. Don't give a name.