Beginners guide to buying gold?

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Reason

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I searched for any past threads that might fall into this category without too much luck.

Is there a guide for complete beginners on where to start when looking to buy gold somewhere in these forums that I missed?

If not, should we not compile one and sticky it?
 
1) Know your goals
Are you in it for long term savings protection (inflation) or short term investment?

2) Know how to use eBay, don't be afraid to shop and compare

3) Don't buy what you don't know, don't invest what you can't afford to lose

4) Be careful when dealers try to scare you into buying graded rare coins, numismatics either with confiscation or quality

5) Come back to forums such as this, or goldismoney.info, or others to ask if the price is fair when in doubt. The worst case is it's a waste of time asking and you can still buy what you heard of.
 
dude just go to the biggest largest coin shop or internet shop and buy normal gold or silver coins. You may pay above spot price but do it now before it's too late. There's so many people who are like "I'm waiting for gold and silver to go back down to buy some more bla bla bla" I was here in january when gold was 880 and so many people were like I'm waiting for gold to go back to 400, and now they lose out. Just buy now, the only reason to wait is if your buying and selling strictly short-term which there's no point because you can't predict it anyway. If your investing in gold and silver for it's fundamentals do it now don't wait because no matter what happens short term it doesn't matter. IMHO do not use ebay. You can't guarantee anything on that site. I think the best case scenario is going in person to a coin shop.
 
CivilRadiant said:
I searched for any past threads that might fall into this category without too much luck.

Is there a guide for complete beginners on where to start when looking to buy gold somewhere in these forums that I missed?
Click to expand...

I recommend Apmex (A+ from BBB) for physical coins in your hand or GoldMoney if you want a third party to store it. You will pay much higher premiums to get coins in your hands. There are advantages and disadvantages to both. Hope that helps.
 
Any books you guys could recommend me on getting into physical gold and silver investing?

I've had a friend tell me to pick up "Get the Skinny on Silver Investing" but the Amazon page is chalk full of bad reviews...
 
I think rather than reading books , you can learn much more form forums like this one.

there are some very smart people on these forums. I have been in the markets for over 40 yrs and I still learn from these forums.

this forum--gold & silver--321gold---goldseek--gold is money---kitco gold --Peter Schiff utubes

there are many more.

what you read in books is history .
 
Simple guide:

1. Determine how much money you have to invest
2. Determine which percentage of this money you will invest on gold.
. a) A conersvative amount that I would recommend would be about 10%
. b) A risky paranoid gold bug amount would be like 90% which I don't recommend.
3. Go to apmex.com
4.Order 1 oz Gold Eagles
5. ????
6. Profit
 
CivilRadiant said:
I searched for any past threads that might fall into this category without too much luck.

Is there a guide for complete beginners on where to start when looking to buy gold somewhere in these forums that I missed?

If not, should we not compile one and sticky it?
Click to expand...

Subscribe to gata.org newsletter for regular updates and their site for gold related investment information. It was Lepard's advice I'm passing on to you.
 
brandonyates said:
Simple guide:

1. Determine how much money you have to invest
2. Determine which percentage of this money you will invest on gold.
. a) A conersvative amount that I would recommend would be about 10%
. b) A risky paranoid gold bug amount would be like 90% which I don't recommend.
3. Go to apmex.com
4.Order 1 oz Gold Eagles
5. ????
6. Profit
Click to expand...

So there are a few on the site,
http://www.apmex.com/Search/Default.aspx?Search=gold+eagle

If you don't mind could you be a little more specific?

-Thank You!

--edit--
Found this page
http://www.apmex.com/Category/290/Gold_Eagles___1_oz_2009__Prior.aspx
 
Last edited:
CivilRadiant said:
Is this what is widely recommended?

http://www.apmex.com/Product/48683/2009_1_oz_Gold_Eagles___Brilliant_Uncirculated__.aspx
Click to expand...

K-Rands are also highly recommended, as they are recognized around the world. Often the price over spot is lower. Some don't like them as much because they aren't as "gold" in color, having a higher copper content, while the American Eagle has a higher silver content. They are also not 'legal tender'.

https://www.kitcomm.com/showthread.php?t=4268
 
What about Perth mint bullion coins? Its a very old mint, they are tender in Austrailia I think, and they have a high gold content .9999 i think.
 
I know that if you buy gold or silver from a dealer or coin shop .

The price will be marked up on the buy side at least 5%

When you sell you will be lucky to get spot gold/silver prices.

I remember in 1980 when gold hit over $850 oz , it was hard to get $800/oz for a 1oz coin .

DGP (stock ) is a 2x mover of the price of gold, if gold goes up 1% DGP goes up 2%.

Very low comm , $8 etrade to buy, $8 to sell.

With 2x leverage and low in/out commission price, that's the way to play the gold market.

JMHO
 
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