Paint It Purple
Active Member
What are the tips, advice, wisdom from anyone investing in metals like silver, gold, platinum?
OT: Silver investment. Thoughts/Advice
- Thread starter Paint It Purple
- Start date
Sell them and buy Bitcoin
Sweat Equity
Tier 1
Be careful. Know before you buy. Lots of fly by nights out there.
https://cftc.gov/sites/default/file...uments/file/cppreciousmetalsfraudbrochure.pdf
https://cftc.gov/sites/default/file...uments/file/cppreciousmetalsfraudbrochure.pdf
frogs9497
Full Member
I keep reading that Bitcoin may shoot way up. I just haven’t had the intestinal fortitude to accept the risk.
BrewingFrog
Was I supposed to type something here?
GLD is the direct investment into a fund that trades gold. Essentially it follows the price as shown by the market.
Physical gold is easily obtainable through a number of bullion dealers. The U.S. Mint makes a number of products that are purely bullion based and many that are of numismatic interest as well. Gold Buffalos are nice, as are Gold Eagles. Purchasing directly from the Mint allows one to stay away from the dodgy "Gold!" guys if you're into physical gold. Reputable dealers have a bunch of different Mint products to choose from, such as Gold Sovereigns from Britain, or Kangaroos from Australia. The folks down in South Africa still mint Krugerrands.
The U.S. has larded up with $30 trillion in debt, and props up the Market to the tune of $120 billion monthly. I cannot understand why inflation hasn't wiped out the dollar already...
Physical gold is easily obtainable through a number of bullion dealers. The U.S. Mint makes a number of products that are purely bullion based and many that are of numismatic interest as well. Gold Buffalos are nice, as are Gold Eagles. Purchasing directly from the Mint allows one to stay away from the dodgy "Gold!" guys if you're into physical gold. Reputable dealers have a bunch of different Mint products to choose from, such as Gold Sovereigns from Britain, or Kangaroos from Australia. The folks down in South Africa still mint Krugerrands.
The U.S. has larded up with $30 trillion in debt, and props up the Market to the tune of $120 billion monthly. I cannot understand why inflation hasn't wiped out the dollar already...
I was only half joking earlier about Bitcoin, but if you want a reputable group to buy and sell to, Apmex has always been fairly easy to deal with. I’ve bought and sold through them. If you’re a true believer in the asset class, I’d buy physical.
MacTexas744
New Member
Buy only minted coins and keep them in your possession. Do not buy gold or silver bars, too many fakes, and you have to get them assayed to sell them.
Eight
Member
ask the hunt family for advice, do the opposite
Paint It Purple
Active Member
Interesting. I have 100 or so silver 1oz bars received as gifts over the years. Never tried to sell any. Never considered their authenticity.
BrewingFrog
Was I supposed to type something here?
There was a lovely picture of one of the Hunt Bros. in his office, rolling a pair of solid silver dice. National Geographic shot from many decades ago...
Ron Swanson
Full Member
A tale as old as time
Boomhauer
Active Member
“My stocking is heavy as hell. Bet I’m getting more silver bars this year.”
Peacefrog
Degenerate
He gets one every year for Christmas from his grandfather.
Mike?
82 Frog Fever
Active Member
The problem with holding actual physical gold/silver/metals is that unless you are a licensed dealer, you will always buy at a premium and sell at a discount. Those dealer safety margins can be 10-15%. In times of very high volatility, I’ve even seen 20%.
froginaustin
Active Member
I’ll never forget the story of a very good friend of mine having a a very secure safe ( embedded in concrete slab, carefully disguised by security firm, etc.) enjoying the experience of having an embittered wife leave, and later discovering the safe empty.
Fortunately for him it made absolutely no difference in his standard of living.
She and her new squeeze bought a new (relatively modest, but still nice) house with no visible source of income. Apparently no loan necessary.
So— don’t stash more metals than you can live without. You may get the chance.
Bitcoin? Those may go away, too.
Gamble if you want to. You may get a better deal in Vegas at the slots.
Fortunately for him it made absolutely no difference in his standard of living.
She and her new squeeze bought a new (relatively modest, but still nice) house with no visible source of income. Apparently no loan necessary.
So— don’t stash more metals than you can live without. You may get the chance.
Bitcoin? Those may go away, too.
Gamble if you want to. You may get a better deal in Vegas at the slots.
The Artist Formerly Known as PhormerPhrog
Full Member
Greg from Knotts Landing tells me to go with gold so that's where my money is.
Paul in uhh
Active Member
A dude once sold me a Mini Cooper that had about 50 gold bars under floorboard that I discovered when changing the oil
BrewingFrog
Was I supposed to type something here?
Do not remember. Too long ago. Family pile of old National Geographic magazines lost in flood. IIRC, the photo was one of those masterpieces by the guy who did the cover shot of the Afgan girl in '79.
Sigh. I must remember to read more closely before the morning coffee has taken effect... Touche.
West Coast Johnny
Full Member
Don't buy physical metal because you will get screwed by the dealers on entry and exit.
instead of taking delivery of metal, which comes at big costs, consider trading futures which will give you the same exposure at better fill prices. Futures come with the added flexibility of taking short positions if you think the price is going to go down. To maintain a long term position, you can just roll positions from one month to the next and still come out better than paying the metal rip-off artists their commissions.
instead of taking delivery of metal, which comes at big costs, consider trading futures which will give you the same exposure at better fill prices. Futures come with the added flexibility of taking short positions if you think the price is going to go down. To maintain a long term position, you can just roll positions from one month to the next and still come out better than paying the metal rip-off artists their commissions.
