Buying Gold/Silver/Precious Metals

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Warrian

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I wasn't able to find another thread discussing the topic of where to buy gold/silver/precious metals so if I have overlooked it, please delete this thread. I have been looking around the net, but it looks like 99% of the places I have seen are scams. I have been playing with the idea of buying gold bullion, bars of silver, and other stuff like that. Or possibly some kind of precious metal fund thru my trade account?

Does anyone else have experience with this?
 

Gadrel_sl

shitlord
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This always seemed silly to me, having to put up with the hassle of storing metals. I'd rather invest in real estate.
 

Margo_sl

shitlord
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I have a dream, well a tangible dream since honest banking and freedom are out of reach...
I have a dream, to get my europoor ass to the states, walk into a great tittybar and throw a one troy ounce gold coin at the nastiest stripper around, well not knock her out, but at her feet, like fling it at her, just to see her reaction and a bit for the service to ensue.

Got into metals around 2008, not as speculating but more of a long term investment/"Happening" hedge, still have em in my safe.
Who knows, if we go back into a honest world, I have some leverage, but it don't have anything on land, family, connections, guns and MREs if shit really hits the fan.

But you are right Gadrel, you take a risk with storing to much wealth, turns you into a fat grilled turkey in the eyes of the goons.

Do it as a hedge, they also make great gifts.
 

Nester

Vyemm Raider
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I wanted to hedge a tiny bit into metals a few years back so i bought a metal fund. You can own precious metals with out the hassle of storage or requirement of security.

I think you are right about the gift idea, that would be damn cool to get a bar of gold for xmas.
 

So Lost

Trakanon Raider
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I work with customers in the precious metals space and I can tell you that Monex.com is a safe bet if all you want to do is purchase physical coins or bullion. If you want to do ETFs or purchase with leverage you need to know what you are doing and understand the risks involved as they can be significant.
 

Hoss

Make America's Team Great Again
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Wasn't sure if I should necro this thread or start a new one, but So Lost So Lost recommended a website I will probably check out (monex.com) and I'd like to hear if anyone knows if it's still a good place all these years later. Also, M Margo_sl 's dream shouldn't be lost.

Anyway, my question is, does anyone here know anything about buying physical gold and silver? Basically I want to know what a reasonable price is. I know about spot prices, but is it reasonable to think I can get an ounce of gold or palladium for spot price or less? Every place I see has it for spot plus some fee. Should I keep looking or is that as good as it gets for small time buyers? What's a reasonable fee?

As an example, one place is offering silver coins for $2.50 over spot and fractional gold coins for 1% over.

I'm not interested in collectible coins. If i could find the bullion in a brick, I'd probably take it (silver that is, I wouldn't be able to afford a brick of gold palladium or platinum). So I don't want to pay a collector's premium if I can avoid it.

I know of an auction house that regularly sells gold and silver, but for some reason they never put the shit up for sale. I asked them about it and they say it's because there are too many and someone has to show interest before they'll put it up (its the same story with the jewelry). So the next time I told them I was interested in the gold and silver and they still didn't put it up. I guess they knew I was looking to buy shit below spot? Next time I go I will point out specific coins I'm interested in and see what happens. Maybe I need a code word for them to believe I'm a serious buyer.
 

Kiroy

Marine Biologist
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Unless you're a doomer or a collector, what's the point in buying up metals? You could just industry stock trade or etfs. I don't get it.
 

a_skeleton_02

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Unless you're a doomer or a collector, what's the point in buying up metals? You could just industry stock trade or etfs. I don't get it.

I thought being a doomer was the only reason to actually invest in metals?

Every financial advisor I've talked too said it's not a good idea and there are thousands of better options available to invest.

Personally the only metal I'd invest in for a doomsday scenario is ammunition.
 
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iannis

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Yeah, I don't think investing in gold, silver, or platinum is the way to go.

At the scales that they're used in industrial production you're not looking at "investing" you're more looking at buying a mine.

Also from what I remember, and I may be completely off base because it's fuzzy, when you "buy" gold you're not even buying gold. It's not like you can call it in and get someone to send your ass however many ounces you've purchased. You're like buying futures or something. The gold itself is already owned and not for trade. I remember reading about it years ago and it was beyond retarded. Because you're never going to be able to get the physical thing that you've supposedly purchased... so it's very seriously like a wtf scam. Just a really, really retarded way to gamble.

If you wanna gamble just go heavy on penny stocks.
 
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ShakyJake

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Watch this series:


The fed has been printing money at a ridiculous rate for years now. The stock market is completely fake. So, for the people who dismiss investing in gold and silver (and I mean the physical asset, not futures or ETFs), I ask: what is your argument that hyper inflation won't happen some time in the next 10-30 years?
 

iannis

Musty Nester
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Even if it does investing in gold/silver isn't a hedge against that. You can't get the physical object which means that your investment will be valued with the inflated dollar. Or devalued, as the case may be. Nobody is going to give you a pound of gold.

The much better hedge against that is in... there's a jargon for it, I forget what it is. Real things. Ownership in land, production, infrastructure. Tangibles.

Anything intangible like gold certificates is subject to the exact thing which seems to be the argument to buy it.
 

ShakyJake

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Even if it does investing in gold/silver isn't a hedge against that. You can't get the physical object which means that your investment will be valued with the inflated dollar. Or devalued, as the case may be. Nobody is going to give you a pound of gold.

What are you talking about? You can mostly certainly buy gold/silver coins and bars and put them in your safe or wherever.
 
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iannis

Musty Nester
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What are you talking about? You can mostly certainly buy gold/silver coins and bars and put them in your safe or wherever.

Depends on the place you buy from I guess.

Here's the question though. Economic collapse... would you rather have a gold bar or would you rather have ten chickens? You are stipulating a situation where money is without value, and then saying gold is better money. You see?

The chickens will be worth more.
 

ShakyJake

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Depends on the place you buy from I guess.

Here's the question though. Economic collapse... would you rather have a gold bar or would you rather have ten chickens? You are stipulating a situation where money is without value, and then saying gold is better money. You see?

The chickens will be worth more.

The argument for precious metals is that they have intrinsic value. Money has to be portable, durable, divisible, fungible, and rare. Chickens aren't that (not really).

Currency today (which is not money!) has no underlying value. It truly is fake and the ONLY reason it's usable today is because people have faith in it's value and the government. But that's it. Once that illusion fades that's when people will fall back to something that has true value. This has happened numerous times throughout history.

Watch the above videos I linked. They explain it quite well (and aren't long at all).
 

iannis

Musty Nester
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I disagree. They don't have intrinsic value. They have an assumed value.

That's the thing about money. It makes less sense the more you think about it. It's a game that people play with each other. During the really hard times. The recessions... hungry people have a lot less time for those sorts of games.

What has intrinsic and direct value are the things which directly aid or improve your life. Food. Shelter. Comfort. Security. What has indirect value are those things which can help you aquire things with intrinsic and direct value. Gold and money only have indirect value. They only ever have indirect value. It is their nature.

It's not the gold itself. It's the desire to have it. That desire is a real thing. It's a different thing than the physical object.

If you're interested as a hedge against economic collapse I genuinely think what you'll have is a brick of gold sitting in your closet that no one wants. Someone might be mildly impressed that you have a brick of gold. While i'm sitting over here with getting my dick sucked for half a dozen eggs. If you just want to play a game that economic stability affords you, game the fuck on.

Gold as a doomsday prep strategy is nonsensical. The people who will value it during a depression are the same ones who valued it before the recession -- which means you'll be trading gold with other dudes who are trading gold. Everybody's rich, but nobody eats. 50 pound bags of seed have always made more sense to me.

The real value in gold is in industrial applications. They use it to make electronics. But when you're talking about economic collapse that's not really a consideration. It would make sense though to hoarde in the assumption that depressions don't last forever and when electronics start to be mass produced again you're gonna have a whole shitpile of gold to cash in on. As a long term strategy that makes sense to me. But it's not security in a crisis. You have to be able to weather the crisis in order to improve your wealth for that.
 
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pharmakos

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the first new currency post-collapse will probably be made out of gold. it's value in history wasn't because of the fact that its shiny, its because its physical properties make it the best candidate for a lasting currency.

gold has been the main standard of currency for all of human history up until 1973. not that much has changed in 44 years, its just a matter of time.
 
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