Going to buy gold today, should i go all in?

[ClayTrainor]

I'm walking into a local Coin store who is armed with 1/2oz canadian maples and 1oz krugerands, and im gonna buy up a bunch of them.

My question is, should i spend most of what i've saved today? Or should i buy a large chunk, and then buy periodically as prices rise/fall in the coming months?

Im getting a good price on the coins, and i know they are becoming rare. Should i snag what i can get, while i can or take it easy?

 

[eric_cartman]

well... that's up to you.

me personally, whenever i get a pay check, i buy as much gold as i can afford asap... so if it was me, i would buy as much gold as i could afford.

but will you be upset if the price falls? because whenever i buy gold, i couldn't care less if the price falls. i bought some gold this summer at over $900, but i didn't care one bit when it fell below $750. i just tried to get some more money together to buy more.

i suppose you could save a little bit in case a nice $20 gold piece or sometime comes around that you really want to buy.

i don't know how much you're buying.... but if it was me, i always trade my worthless dollars for gold as fast as i can.

 

[ClayTrainor]

well... that's up to you.

me personally, whenever i get a pay check, i buy as much gold as i can afford asap... so if it was me, i would buy as much gold as i could afford.

but will you be upset if the price falls? because whenever i buy gold, i couldn't care less if the price falls. i bought some gold this summer at over $900, but i didn't care one bit when it fell below $750. i just tried to get some more money together to buy more.

i suppose you could save a little bit in case a nice $20 gold piece or sometime comes around that you really want to buy.

i don't know how much you're buying.... but if it was me, i always trade my worthless dollars for gold as fast as i can.

Thanks for your advice again Eric, you have been a great help.

I think will trade a large portion of what i intended to spend, today since gold is selling out like crazy nearly everywhere. I will probably save some of this cash, and perhaps buy more in the future depending on how things are looking.

im 90% sure this is going to be a smart investment

 

[bluemarkets]

those are getting more and more difficult to come by ...

If you have extra cash lying around, snap it up, just keep a little cash in the bank
until the dust clears

 

[ItsTime]

Do you want my address to send Christmas gifts? lol

Good luck with your buy!

 

[Scribbles]

I don't think I would put all my savings into PMs at once, or all of my savings for that matter.

Asian stocks seem attractive in the long run, both Jim Rogers and Peter Schiff seem bullish on alot of asian stocks. And I tend to think that Chinese domestic demand will be rising as western demand drops off, maybe not at the same rate but proportionally China has alot more people so I see that balancing out a slower consumption growth. Things with good dividends for steady income/reinvestment capital.

I'm between 20 and 30% PMs. Mostly evenly split between gold and silver; with a slight leaning toward gold.

 

[tmosley]

As far as PMs go, you should definitely split between gold and silver. I personally do 66% silver, 33% gold as much as I can. You should also keep some FRNs in reserve as well. Just put them in your safe. There will be a transition period where prices will deflate a great deal, and US currency will be king during that time. There will be a lot of fire sales, and you can catch some great deals on necessities or other forms of capital. This will be before a currency collapse where FRNs won't be worth anything at all.

Of course, you may be able to trade in your PMs, but you probably won't get a good price for them.

 

[gaazn]

No because Gold will follow oil.

 

[Michigan11]

Last week I spoke with one of the owners at a coin shop I go to. He has been out of gold/silver for months. He said in the past it was 3 buyers for every 2 sellers. For months it's been 100 buyers coming in his store for every 1 seller.

Another coin shop I go to is out as well. If you can find any gold/silver right now I would buy it.


Look at what's going on in Iceland people, their currency is now trash, those who bought gold preserved their purchasing power.

 

[angelatc]

Does anybody think that gold would be easier to come by in Canada? We live pretty near (relatively speaking) to the border.

 

[the count]

It's tricky

If we are first headed toward a serious deflationary period, which is almost the way it looks now, the price of gold could go way down along with other commodities. This would be a nice buying opportunity. Actually, if you have a safe somewhere it is not a bad idea to have cash on hand. Yes, plain old cash in smaller denominations. Look at it this way, what if ATMs went out of service for only a couple days or you account was frozen???

 

[Deborah K]

Buy food. Buy supplies. Then buy gold and silver. Silver will be best for trading, especially junk silver. Gold is for wealth protection.

 

[Bruno]

If we are first headed toward a serious deflationary period, which is almost the way it looks now, the price of gold could go way down along with other commodities. This would be a nice buying opportunity. Actually, if you have a safe somewhere it is not a bad idea to have cash on hand. Yes, plain old cash in smaller denominations. Look at it this way, what if ATMs went out of service for only a couple days or you account was frozen???

Outside of a bank holiday they could also limit daily cash withdrawal amounts.

perfect avatar, btw

 

[Ozwest]

For what it's worth...

I avoid coins as there is a built in mark-up.

I buy bars. Five ounce and one ounce. This way you pay for weight and not the intrinsic value of the coin.

Mints aren't a bad place to purchase.

 

[eric_cartman]

Does anybody think that gold would be easier to come by in Canada? We live pretty near (relatively speaking) to the border.

ya... i live in downtown toronto and it sounds a lot easier to get up here.

there's a good coin store that seems to be able get product at good prices.

also, you can just go to the big banks in downtown toronto and buy bullion directly from the bank. i think you have to be a canadian citizen though, not sure.

but silver is very difficult to come by. the banks sold out of everything except for 1000oz bars (and they could be sold out of those by now for all i know).

and the coin store definately runs out of stuff, but it seems to have a better supply than in other countries, based on some of the stories i'm hearing about gold shortages.

 

[ClayTrainor]

ya... i live in downtown toronto and it sounds a lot easier to get up here.

there's a good coin store that seems to be able get product at good prices.

also, you can just go to the big banks in downtown toronto and buy bullion directly from the bank. i think you have to be a canadian citizen though, not sure.

but silver is very difficult to come by. the banks sold out of everything except for 1000oz bars (and they could be sold out of those by now for all i know).

and the coin store definately runs out of stuff, but it seems to have a better supply than in other countries, based on some of the stories i'm hearing about gold shortages.

Dude, that coin store you referred me to was great!

I felt very comfortable in my purchase, and am very happy with the price i paid.

I was only paying $1036 CAD per Krugerand, and i bought 4 of them.

Im looking at ebay right now, and i could easily return an immediate $200 profit on each of these coins.

Feeling very good about this investment

Im going to keep checking back there whenever i have some loose change.

P.s.

They had lots of silver in stock, at $20 / ounce.