Investing in gold..

[Exarel]

Is it better to buy gold or to buy gold stocks? I'm kinda newbie at the whole investing thing, but i'm wondering what direction to go.

 

[aksmith]

It depends on why you want it. If you are planning for disaster, you'll probably want to buy some coins. And make some of them 1/10th ounce and not just 1 ounce coins. If you're just looking to hedge your declining paper dollars, maybe something like an exchange traded fund would work.

 

[LandonCook]

buy gold...

 

[Exarel]

Any resources for information that you guys can recommend?

 

[MusoSpuso]

paper is paper. Whether it's promising gold or oil.

Buy and hold the metal.

However, if you're looking for metal investing, silver is easier to get into and is performing better than gold right now.

 

[slamhead]

www.monex.com

You can take possession of the the gold or you can have them store it in their vault but there is a pricey charge for that. If you take possession of the gold you will lose some value when the chain of integrity is broken.

There are some web based companies where you have accounts much like paypal but I would be weary of those and research them as they may not really have all the gold backed up in reserves.

 

[acptulsa]

Right now, gold is incredibly high. Unless you disagree with me that the market will rally again (even if it's a death rally), I would do stocks while they're cheap and sell them for gold when the rally comes. Really. I hate buying commodities when they're overpriced (taking the bus a lot lately...)

 

[Danny Molina]

If you don't hold it you don't own it.

 

[jcarrion1976]

Any resources for information that you guys can recommend?

http://www.kitco.com/ (good info on forums regarding gold and silver investments - buy physical gold elsewhere due to premiums)

http://www.apmex.com/ (Good prices decent service - I buy from them when not shopping locally from coin shops)

http://goldismoney.info/forums/ (good site for all kinds of info - most people on site lean to the "SHTF scenarios" and advocate buying physical bullion for safe keeping)

http://www.coinshows.com/ (list of coin shows across the U.S.)

http://goldismoney.info/forums/forumdisplay.php?f=150 (feedback on different dealers used by the people at the Gold Is Money forum)

http://www.silvereagleprices.com/
http://www.goldeagleprices.com/ (these two sites list modern bullion that is being actioned at ebay. Ebay is not necessarily the cheapest place to buy, but if you know what you want and the price is right then you could find a good deal. Buy only from people with a good long selling history.

A good thing to do is take some cash and visit you local coin shops. Look around and ask questions. Don't feel like you have to buy. Sometimes I will pick up a coin or two of silver just to get a feel for how they treat me as a customer before I make more expensive purchases (such as gold).

Have fun. It starts to get addictive.

 

[shane2]

Right now, gold is incredibly high. Unless you disagree with me that the market will rally again (even if it's a death rally), I would do stocks while they're cheap and sell them for gold when the rally comes. Really. I hate buying commodities when they're overpriced (taking the bus a lot lately...)

Simple test for whom to listen to re PM advice...

When you hear anyone, including the financial talking heads, pontificating about why gold or silver has done what it's done and what it'll likely do next, or even how it's all a bubble and topping out right now, remember to ask yourself this one question;

What were these same people saying about gold/silver over the past six or seven years? IOW, what's their track record?

Did they ever tell you it was shaping up as a good investment and urge you to get into it back when gold/silver was below $300/$5, $400/$6, $500/$8, $600/$10, $700/$12, $800/$14?!?

If not, then why would anyone think they are suddenly any smarter or more qualified today to be telling you that it's all topping out right now and be guiding your decisions for what gold/silver will do next?

If you are going to listen to anybody, at least also explore what those who have been calling it correctly all these many years have been, and are, saying, like at...

www.lemetropolecafe.com
...and...
www.jsmineset.com

Those that have followed their reasoning have been enjoying this for the last half-dozen years...

- Shane

 

[Cooter]

ok stupid question. where is the official price of what gold and silver is at the moment? i mean if you go into a coin shop or something youd want to know what you should be paying for it so where would you find out if your paying too much or not?

 

[JordanQ72]

Those that have followed their reasoning have been enjoying this for the last half-dozen years...

So, why not apply your own reasoning to your own sources? Instead of looking at the past 5 to 6 years, what were their opinion of gold between 1980-2000? Were they equally bullish? That you can find goldbugs that have been screaming loudly that past half decade or so doesn't make them of any use in light of their failures for the 20 years before that.

 

[Danny Molina]

ok stupid question. where is the official price of what gold and silver is at the moment? i mean if you go into a coin shop or something youd want to know what you should be paying for it so where would you find out if your paying too much or not?

The price the dealer wants to charge you for bullion is up to him, but if it's close to spot price then it's a pretty fair deal. The dealers make there money by buying below spot then charging over spot.

 

[Highstreet]

Is it better to buy gold or to buy gold stocks? I'm kinda newbie at the whole investing thing, but i'm wondering what direction to go.

Always buy coin.

You can buy and sell at your local coin shop. They will usually be within a few percent of the market rate.

If you buy stock, there is no guarantee. And there are some dishonest companies out there.

Also get some silver too. It holds its value just as gold does and is in smaller increments. These are useful if you don't need a $1000 dollars or more in one chunk.

 

[Highstreet]

So, why not apply your own reasoning to your own sources? Instead of looking at the past 5 to 6 years, what were their opinion of gold between 1980-2000? Were they equally bullish? That you can find goldbugs that have been screaming loudly that past half decade or so doesn't make them of any use in light of their failures for the 20 years before that.

The Fed is up against a rock and a hard place. They have to inflate to soften the blow of the Recession. Precious metals will keep going up. And they will spike just like they did in the 70's if we have stagflation again.

Guns and Butter are making that more and more likely.

 

[Exarel]

I guess i don't understand the difference between buying gold stock and buying gold itself. Buying it physically seems... cumbersome to move around and what not.

 

[Danny Molina]

I guess i don't understand the difference between buying gold stock and buying gold itself. Buying it physically seems... cumbersome to move around and what not.

Good luck collecting the gold you invested in when the shit hits the fan.

 

[MJfromCT]

Physical gold and silver are wise investments but everyone considering doing just that should understand the tax implications. Physical metals are deemed collectibles so they are to be taxed 28% even if you own them for more than a year. Stocks are taxed at 15% for longterm gains(1 year ownership or more) so there is some benefit to the stocks provided they increase in value close to that of physical. The physical is usually the safer and many times the more successful investment over the past few years. Junior gold(precious metals) stocks probably provide the most bang for the buck provided you find the needles in the haystack. It all depends on your individual risk threshold, acceptable timeline and ability to do your due diligence. Of course if you think the financial markets are going to armegeddon buy the physical in gold and silver, buy a few guns and tons of ammo, buy a super duper safe and pray to whatever higher being of your choice for serenity.

 

[Cooter]

Physical gold and silver are wise investments but everyone considering doing just that should understand the tax implications. Physical metals are deemed collectibles so they are to be taxed 28% even if you own them for more than a year. Stocks are taxed at 15% for longterm gains(1 year ownership or more) so there is some benefit to the stocks provided they increase in value close to that of physical. The physical is usually the safer and many times the more successful investment over the past few years. Junior gold(precious metals) stocks probably provide the most bang for the buck provided you find the needles in the haystack. It all depends on your individual risk threshold, acceptable timeline and ability to do your due diligence. Of course if you think the financial markets are going to armegeddon buy the physical in gold and silver, buy a few guns and tons of ammo, buy a super duper safe and pray to whatever higher being of your choice for serenity.

if you pay cash at a local coin shop do you have to fill out something or leave a paper trail?

 

[misconstrued]

http://www.bullionvault.com/