What's the Best Place to Buy Gold?

[Old School 611]

It's been decided it's time to buy gold currency. 1/4oz, 1/2oz coins. For use in commerce.

Where's the best place to buy it? Cost + service charge + shipping? Looking for Eagles,Maple leafs

stuff of recognizable quality.

[Malsua 1,422]

It's been decided it's time to buy gold currency. 1/4oz, 1/2oz coins. For use in commerce.

Where's the best place to buy it? Cost + service charge + shipping? Looking for Eagles,Maple leafs

stuff of recognizable quality.

 

 

 

http://www.apmex.com/

[crackaloon 15]

It's been decided it's time to buy gold currency. 1/4oz, 1/2oz coins. For use in commerce.

Where's the best place to buy it? Cost + service charge + shipping? Looking for Eagles,Maple leafs

stuff of recognizable quality.

I've talked with the owner here My link, and the guys there seem to know what they're doing. Plus he's a shooter.

[Damjan 73]

I`ve been buying 20 franc coins from these guys for a long time , very satisfied.

 

Also hit up ebay , you can find some good deals there sometimes

 

http://www.thegoldco...nc_Roosters.php

[Maksim 1,504]

For commerce? Why? For collectibility, sure. If you are buying bullion, African krugarands, philharmonics, and Canadian leads are good. American eagles carry higher premium over spot. Buying in less than 1 oz is stupid in my opinion as you are easily paying at least 10 to 20 percent premium over spot price per oz.

[SoR 4]

http://www.apmex.com/

 

I second Apmex although a local dealer (coin/currency shop) may have smaller fees.

Apmex is good if you care about quantity or variety but it takes forever to come from Oklahoma

That said, new 2011 Pandas are in. Love Aussy and Chinese coins, especially in odd sizes (like 2oz).

Eagles and Maples are really boring coins.

[DirtyDigz 1,812]

I have heard good things about this place, but never actually purchased from/sold to them:

 

www.tulving.com

 

However, if I decide I want to get some PM's they will be in my short list.

[JohnKimble 4]

Look,if you buy gold what you need to do is scour EBAY for good deals.

For example, spot price of gold closed at $1342 per oz.

So if you are going to buy fractional amounts you need to keep this number in mind.

The best coin for the money is the Mexican 50 Peso gold piece. Its a little more than 1oz, carries a low premium.

 

While Phil's/Krugs/Pandas/etc are NOT made in the USA and do NOT help America.

American gold eagles are 100% guaranteed to be

1) minted of only USA gold

2) Your purchase of gold eagles go right into the treasury to pay off the debt.

 

The USA makes 13% margin on these coins.

Buy American...

 

 

Nothing wrong with silver also as a bet!

10oz bars should run you about 270-320 depending on assay.

Do not buy gold bullion as it is difficult to liquidate and coins are readily saleable.

 

http://www.kitco.com/charts/livegold.html (to watch gold and other metals prices)

http://www.gainesvillecoins.com/category/292/Gold.aspx (very good dealer online with reasonable + spot prices)

 

Ebay...pay no more than 150 for a 1/10

no more than 380 for 1/4oz

no more than 750 for 1/2oz

and no more than 1450 for 1oz

 

Gold is going up. I have every gold eagle since 1986. And the ones from 1986-1991 are roman numeraled, really cool coins.

Also, check out 20 St Gaudens...massive coin, early 20th century, and if you get a nice one its worth alot when gold goes up because its a rare coin and has collectible properties...

Also, austrian ducats are a nice coin...

[Old School 611]

For commerce? Why? For collectibility, sure. If you are buying bullion, African krugarands, philharmonics, and Canadian leads are good. American eagles carry higher premium over spot. Buying in less than 1 oz is stupid in my opinion as you are easily paying at least 10 to 20 percent premium over spot price per oz.

 

 

STUPID? I'm getting pretty thin skinned arround here lately... You give a gas station attendant a whole ounce of gold for a tank of gas when SHTF. I'll bargain it down to a 1/4oz. See what the stupid guy is getting at?

[crackaloon 15]

I was told that a consideration, if you end up with a quantity, could be the declaration at the US border. US coins can be declared at the coin's face value apparently.

[bry@n 195]

I have never done business with them, but the coin guy crackaloon is taking about seems to be straight up. I did a job for him and he was pretty cool and knowledgable.

 

He even has a movie about obama called obamnude or something.

[Dan 177]

I've used www.apmex.com for my Silver Eagle purchase. Excellent service, got what I paid, fast shipping. If I was in the market again, I would go to them in a heartbeat.

[Maksim 1,504]

STUPID? I'm getting pretty thin skinned arround here lately... You give a gas station attendant a whole ounce of gold for a tank of gas when SHTF. I'll bargain it down to a 1/4oz. See what the stupid guy is getting at?

 

 

If the SHTF, gold is not going to have value either.... guns will.

 

Gold is only a good medium of exchange while the market system is working. If you are a gas station attendant.... would you rather have 100 oz of gold or food to feed? would you rather have gold or a place to live?

 

Right now the gold bugs are as high as when people were talking about florida and las vegas real estate being the safest investment.

 

go buy gold because it looks pretty and you like to have it in your hand. dont buy gold because you think it is going up to $5,000 an oz, don't buy it because you think the S will hit the fan, you will be sorely disappointed. Yes, things are bad, but in a true SHTF situation, it is not going to help.

 

let me put it into perspective.... Gold while being a finite resource (as far as we know), has no commercial use outside of jewelry.

[Dan 177]

Good writeup on someone who lived in a SHTF scenario. Doesn't cover every possible scenario, but something to draw on. I suppose the whole "don't put all your eggs in one basket" is prudent.

 

The one thing that precious metals do have going for them is that they have been precious ever since man discovered them. They have always been worth something. If a SHTF scenario went down, in the beginning phases it may be protection, food, shelter, you know the basics for survival are most valued. Later on when trading and bartering set up, and things settle down... precious metals would probably take over as being the most desirable along with luxuries (booze, cosmetics, TP, etc).

 

My link

 

" Ammo was good trading currency and could get you a meal at any time."

"The Gold and Silver were good to have but it was harder to find someone that would accept gold and silver as form of payment ."

[JohnKimble 4]

If the SHTF, gold is not going to have value either.... guns will.

 

Gold is only a good medium of exchange while the market system is working. If you are a gas station attendant.... would you rather have 100 oz of gold or food to feed? would you rather have gold or a place to live?

 

Right now the gold bugs are as high as when people were talking about florida and las vegas real estate being the safest investment.

 

go buy gold because it looks pretty and you like to have it in your hand. dont buy gold because you think it is going up to $5,000 an oz, don't buy it because you think the S will hit the fan, you will be sorely disappointed. Yes, things are bad, but in a true SHTF situation, it is not going to help.

 

let me put it into perspective.... Gold while being a finite resource (as far as we know), has no commercial use outside of jewelry.

 

And every electronic piece of crap we touch each day, or treating cancer, or as the most dependable type of solder for circuitry, I.E, spacecrafts, satellites, or use in glass that is insulated...LOL

 

[Caine 147]

 

My link

Good read. Thanks for the link

[Dan 177]

Jewelery and investment far outpace industrial demands for gold.

 

Gold Demands Trend

 

If it weren't for the jewelery and investment demand, it would be much cheaper and probably mined less (which would still keep it fairly expensive, but nothing like today).

[Malsua 1,422]

Good read. Thanks for the link

 

If you read Ferfal's book, he suggests gold chains and other small bits. Starting about page 185.

 

The whole ammo thing is an issue. You certainly don't want to give ammo to someone who's going to use it on you...they may feed you then hold you up while you're digesting.

[Drew 4]

If the SHTF, gold is not going to have value either.... guns will.

 

Gold is only a good medium of exchange while the market system is working. If you are a gas station attendant.... would you rather have 100 oz of gold or food to feed? would you rather have gold or a place to live?

 

Right now the gold bugs are as high as when people were talking about florida and las vegas real estate being the safest investment.

 

go buy gold because it looks pretty and you like to have it in your hand. dont buy gold because you think it is going up to $5,000 an oz, don't buy it because you think the S will hit the fan, you will be sorely disappointed. Yes, things are bad, but in a true SHTF situation, it is not going to help.

 

let me put it into perspective.... Gold while being a finite resource (as far as we know), has no commercial use outside of jewelry.

 

Yea that is exactly what I was thinking. I won't buy gold because its at the highest I can remember. I think if you buy now without a good deal your going to be stuck with gold you overpaid for. I would suspect in a true SHTF situation, I would guess Food would hold the best currency. If I where to drop some bank right now it would be on Ammo or Mountain House dehydrated (canned) food which is good for 30 years. Thats my take on SHTF.

 

Now as far as gold in concerned I have been researching prospecting again. You can join a couple different clubs that have claims you can pan at for the free (w/ membership fee). If you find an once you truly made some money. If not, at least you got some exercise out of it.

[SoR 4]

If the SHTF, gold is not going to have value either.... guns will.

 

Gold is only a good medium of exchange while the market system is working. If you are a gas station attendant.... would you rather have 100 oz of gold or food to feed? would you rather have gold or a place to live?

 

Right now the gold bugs are as high as when people were talking about florida and las vegas real estate being the safest investment.

 

go buy gold because it looks pretty and you like to have it in your hand. dont buy gold because you think it is going up to $5,000 an oz, don't buy it because you think the S will hit the fan, you will be sorely disappointed. Yes, things are bad, but in a true SHTF situation, it is not going to help.

 

let me put it into perspective.... Gold while being a finite resource (as far as we know), has no commercial use outside of jewelry.

 

You're wrong on many counts. If TSHTF, gold can be (and is) used as a medium of exchange or as money. I.e. I give you an ounce of gold, you give me a nice gun. But more realistically you would exchange gold for food or clothes. Real world (and very recent) examples are Argentina, Zimbabwe and Indonesia. Plenty of youtube videos for folks that don't like to read. So when TSHTF gold has a value. Now I could agree that collector coins may not be any more valuable than say 20-karat jewlery but that's beside the point.

 

I wouldn't suggest anybody buy gold as an investment. Gold should be looked at as insurance. You buy car insurance but hope you never get into a car accident. That's how I look at gold, you buy it but hope you never have to use it. You could also buy gold if you're not putting all of your money into it so you can hold it for as long as it takes. The nice thing about gold is that unless they make it illegal to own, it will always be worth something unlike paper which can cease to exist as it has happened over and over throughout history.

For anybody who cannot afford to buy gold, I think food, clothes and of course buy guns are a better buy.

 

Maksim, you should read about Argentina's. This is a good start:

http://www.silverbearcafe.com/private/10.08/tshtf1.html

 

Cheers

[Ray Ray 3,566]

If (or when) the SHTF like you guys say, the only thing that will be of value is food, water, shelter, and guns.

 

Gold won't feed your family.

[Maksim 1,504]

You're wrong on many counts. If TSHTF, gold can be (and is) used as a medium of exchange or as money. I.e. I give you an ounce of gold, you give me a nice gun. But more realistically you would exchange gold for food or clothes. Real world (and very recent) examples are Argentina, Zimbabwe and Indonesia. Plenty of youtube videos for folks that don't like to read. So when TSHTF gold has a value. Now I could agree that collector coins may not be any more valuable than say 20-karat jewlery but that's beside the point.

 

I wouldn't suggest anybody buy gold as an investment. Gold should be looked at as insurance. You buy car insurance but hope you never get into a car accident. That's how I look at gold, you buy it but hope you never have to use it. You could also buy gold if you're not putting all of your money into it so you can hold it for as long as it takes. The nice thing about gold is that unless they make it illegal to own, it will always be worth something unlike paper which can cease to exist as it has happened over and over throughout history.

For anybody who cannot afford to buy gold, I think food, clothes and of course buy guns are a better buy.

 

Maksim, you should read about Argentina's. This is a good start:

http://www.silverbearcafe.com/private/10.08/tshtf1.html

 

Cheers

 

 

You cant be comparing SHTF situation in Argentina or Zimbabwe. that is spiraled out of control inflation. It is not a SHTF situation, it is merely being born into the wrong place. Lastly, Indonesia.... there are not alot of firearms, and it is a disaster where there was aid coming in immediately. It was a temporary issue, where people were taking advantage of others.

 

Furthermore, none of those countries have a gun ownership rate north of 30%.

 

Now... what is more likely... your house getting robbed/burned down with your gold/cash or something happening to the scale of a SHTF situation? In either case, firearms and stored food will be far preferred to anything else.

 

Look at New Orleans.... um. what exactly would gold do for you in that situation? bargain with the thugs? If those thugs have guns, they will kill you and take your gold. How many reports are there that their home was saved by gold bullion? How many reports of homeowners staying behind and keeping thugs away with force? Plenty.

 

 

If the banks collapse/zombies come no amount of gold/silver/platinum/cash will be worth a damn. Once again, there is NO USE for gold outside of jewelry, unlike silver/platinum. Look at the Soviet union.... the collapse of the empire (1915), all the wealthy were run over and executed. Those pesky villagers with guns. What about wealthy Jews and Poles ? Yep... they were killed and their wealth taken.

 

 

I am not saying gold is worthless, just dont want people to drink the kool aid hype out there that gold is their savior. If gold was the savior... why would the "smart money" want you to have it? why not just take it all for themselves? Right now, the smart money is selling it in droves. If the US economy collapses, the whole world is in trouble as all of their reserves are in the dollar or Us government bonds.

[Drew 4]

You cant be comparing SHTF situation in Argentina or Zimbabwe. that is spiraled out of control inflation. It is not a SHTF situation, it is merely being born into the wrong place. Lastly, Indonesia.... there are not alot of firearms, and it is a disaster where there was aid coming in immediately. It was a temporary issue, where people were taking advantage of others.

 

Furthermore, none of those countries have a gun ownership rate north of 30%.

 

Now... what is more likely... your house getting robbed/burned down with your gold/cash or something happening to the scale of a SHTF situation? In either case, firearms and stored food will be far preferred to anything else.

 

Look at New Orleans.... um. what exactly would gold do for you in that situation? bargain with the thugs? If those thugs have guns, they will kill you and take your gold. How many reports are there that their home was saved by gold bullion? How many reports of homeowners staying behind and keeping thugs away with force? Plenty.

 

 

If the banks collapse/zombies come no amount of gold/silver/platinum/cash will be worth a damn. Once again, there is NO USE for gold outside of jewelry, unlike silver/platinum. Look at the Soviet union.... the collapse of the empire (1915), all the wealthy were run over and executed. Those pesky villagers with guns. What about wealthy Jews and Poles ? Yep... they were killed and their wealth taken.

 

 

I am not saying gold is worthless, just dont want people to drink the kool aid hype out there that gold is their savior. If gold was the savior... why would the "smart money" want you to have it? why not just take it all for themselves? Right now, the smart money is selling it in droves. If the US economy collapses, the whole world is in trouble as all of their reserves are in the dollar or Us government bonds.

 

I am not a financial wizard, but I completely agree. If a small countries economy fails it has a small ripple effect on the rest of the worlds economies. With that in mind it would be beneficial to accept gold in that country as their are still markets around the world to trade that gold. Now if the US Economy Failed in a true SHTF situation the effect would be a tsunami on the economies around the world. If that happens you would have a very hard time finding a market to trade that gold.

 

Like you said, gold will never be worth nothing, but I think if you where to buy now you would ultimately lose money on it no matter where the economy goes. I don't foresee the value of gold going much higher.

 

my .02

[Malsua 1,422]

I am not a financial wizard, but I completely agree. If a small countries economy fails it has a small ripple effect on the rest of the worlds economies. With that in mind it would be beneficial to accept gold in that country as their are still markets around the world to trade that gold. Now if the US Economy Failed in a true SHTF situation the effect would be a tsunami on the economies around the world. If that happens you would have a very hard time finding a market to trade that gold.

 

Like you said, gold will never be worth nothing, but I think if you where to buy now you would ultimately lose money on it no matter where the economy goes. I don't foresee the value of gold going much higher.

 

my .02

 

Take that a bit further. In a true SHTF situation, people will barter. Often labor for food as it's difficult for item swaps since once you trade a sweater to farmer Bob, he probably doesn't want 10 more sweaters and 8 more pairs of jeans. People will immediately look for a substitute currency. What's one item that people have agreed for thousands of years has value? You can say it doesn't have any uses outside of jewelry and while that may be true people still believe it has value and always will.

 

Gold probably is at a peak right now, but if the dollar collapsed tomorrow, anyone who has it will be able to trade it in for whatever the next currency is. Anyone who doesn't have it will be waiting in line at the soup kitchen.

[Dan 177]

Take that a bit further. In a true SHTF situation, people will barter. Often labor for food as it's difficult for item swaps since once you trade a sweater to farmer Bob, he probably doesn't want 10 more sweaters and 8 more pairs of jeans. People will immediately look for a substitute currency. What's one item that people have agreed for thousands of years has value? You can say it doesn't have any uses outside of jewelry and while that may be true people still believe it has value and always will.

 

Gold probably is at a peak right now, but if the dollar collapsed tomorrow, anyone who has it will be able to trade it in for whatever the next currency is. Anyone who doesn't have it will be waiting in line at the soup kitchen.

 

I'm with you on this Malsua. In the beginning survival stages of SHTF, survival commodities will reign supreme. People will value food, water, shelter, and protection (guns&ammo). These things will carry you through this stage, it could be a long time.

 

Once the dust settles, something will most likely turn into the defacto currency. There is a reason currency either in precious metals, beads, shells, stones, fiat , etc is created in almost every civilization and society in the past... bartering and trading can only take you so far and it is not very convenient.

 

There is a chance that new currency could be based off something other than precious metals, and other commodity items like ammo, booze, guns, etc will always be valuable. That being said , with history as our teacher, it is difficult to imagine gold and precious metals not being valuable during this rebuilding phase.

 

Is it worth it at the price it is today? Nobody really knows for certain. Its a big gamble, just as any type of investment or vessel of wealth is. One could always say that keeping USD's in the bank is a big gamble...

 

For me, I went with silver. Its still at a relatively low price ratio compared to gold, has been used for currency and has been considered valuable for a thousand something years. Again, I don't put all my eggs in one basket, but for me silver is one of my hedges.

 

Good example on how precious metals were used as currency in early civilization:

 

My link

 

"In order from least valuable to most, the money of ancient Mesopotamia was barley, lead (especially in northern Mesopotamia [Assyria]), copper or bronze, tin, silver, gold. Barley and silver were the dominant forms, which were used as common denominators of value. Barley, however, was difficult to transport and varied more in value across distances and time, and so was used mainly for local trade. Interest rates on loans of barley were substantially higher than on silver: 33.3% vs 20%, according to Hudson."

[DevsAdvocate 112]

My takeaway from all this talk: have some gold and silver, but don't break the bank buying a ton of it. Just accumulate over time, and pass it down to your kids if the SHTF doesn't happen.

[Old School 611]

This is what we are really talking about ultimately. I'm really looking at the "Safety" Level rather than the "Physiological", I kind of think I have that covered.

[Drew 4]

Take that a bit further. In a true SHTF situation, people will barter. Often labor for food as it's difficult for item swaps since once you trade a sweater to farmer Bob, he probably doesn't want 10 more sweaters and 8 more pairs of jeans. People will immediately look for a substitute currency. What's one item that people have agreed for thousands of years has value? You can say it doesn't have any uses outside of jewelry and while that may be true people still believe it has value and always will.

 

Gold probably is at a peak right now, but if the dollar collapsed tomorrow, anyone who has it will be able to trade it in for whatever the next currency is. Anyone who doesn't have it will be waiting in line at the soup kitchen.

 

Ok, but does it make sense to acquire gold now when its near peak or during the true SHTF situation? If you had a stock pile of a resource that people would need during that time like food or ammo, you could barter that off for gold at an exchange rate that favors you. If you think about it, right now you would have to trade thousands if not 10s of thousands of rounds of ammo to get 1oz of gold. If you where in a SHTF situation 1 oz of gold might get you tank of gas or a couple of hundred rounds of ammo if your lucky. Now to my earlier point, I think the highest valued resource would be food. Ammo is good, but once you have 1k rounds it would take you a long time to use all of that. Food on the other hand you would use everyday. So IMO you better off having stockpiled food & ammo to trade for gold, then the reverse.

 

Again just my .02

[joecs1 11]

If (or when) the SHTF like you guys say, the only thing that will be of value is food, water, shelter, and guns.

 

Gold won't feed your family.

 

 

I agree.....but I would add liquor to the high value list. remember Katrina?

[Malsua 1,422]

I still say using guns and ammo as trade items is a very bad, possibly deadly idea.