Buying and Trading Gold/Silver

[Exarel]

I am very new to investing. I know with regular stocks, i can buy and sell them with ease.. But if i buy some silver or gold, and the price goes high enough and i want to sell.. how am i going to sell it? I imagine i buy it from some dealer online, so how do i go about selling it? Do i ship it?

Seems rather messy way :/

 

[BW4Paul]

You can sell to a coin dealer near you. To find one, go to this site and enter your zip code:
http://coininfo.com/index.php?op=searchdealers

Then call around, see what buyers are offering, and choose the best price.

Note that this is also a good way to buy silver. You may pay a bit more than you would on the internet, but you also get to see what you're buying in person and have the option of paying with cash or check as well as with credit card.

 

[piotr1]

I am very new to investing. I know with regular stocks, i can buy and sell them with ease.. But if i buy some silver or gold, and the price goes high enough and i want to sell.. how am i going to sell it? I imagine i buy it from some dealer online, so how do i go about selling it? Do i ship it?

Seems rather messy way :/

Its not that bad. ;p If you want to sell smaller quantities i'd say ebay was the best bet. Also establish a good relationship with your local coin dealer and he'll give you a better rate when its time to sell.

 

[theseus51]

You can do it through ETF's too. Just realize they tax you at 28%, no matter how long you hold it. Best to put them in a tax free roth account. If you want to hold actual gold, then I agree with the above posters.

 

[Corydoras]

If bulk and weight really bother you, go for gold rather than silver and platinum rather than gold. At the moment, you can store $8k in less than four ounces of platinum.

 

[AceNZ]

I am very new to investing. I know with regular stocks, i can buy and sell them with ease.. But if i buy some silver or gold, and the price goes high enough and i want to sell.. how am i going to sell it? I imagine i buy it from some dealer online, so how do i go about selling it? Do i ship it?

Seems rather messy way :/

If you're investing, and not holding for the long term, then personal possession is messy in several ways: large buy/sell spread, shipping/storage/transportation cost and risk, insurance, speed at which a sale can be executed and funds received, etc.

The alternatives are ETFs like GLD or SLV (which can be bought like stocks, but still incur commissions, and which don't provide allocated "you really own it" storage), or allocated, vaulted, out-of-the-country storage at places like BullionVault, GoldMoney or the Perth Mint. Future contracts are another option, but they're not a good idea if you're new to investing as you said.

 

[Corydoras]

I believe GLD and SLV are taxed at capital gains rates-- anyone know for sure?