Investing in Precious Metals.

[HighMileage]

Has anyone here done this? I'm talking gold,silver,platinum,palladium...

Say someone bought $50,000 in silver bullion at $20 per ounce.. Then the price went to $50 per ounce.

How do you sell? Are you guaranteed to get market price?

 

[horndog]

You may want to look into equities like ETFs that are based on the price of gold, silver, etc. That way you do not need possession of it and worried about chucking it when the price is right or took a digger.

 

[SFI Cutlass]

If you don't hold it you don't own it! They charge a small fee when you trade it back but it varies from place to place. Best investment now a days because everything else is to risky.


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[bison]

I used to prefer 90% USA silver coin for metal. Thankfully I dumped most of mine when silver was high. At least it's physically held and it doesn't take up a lot of space. I remember paying $3.50-$4 per dollar face value back in the mid 90's

 

[HighMileage]

I'd be a little uneasy if it wasn't in my possession. Silver is basically what I'm focusing on.

SFI Cutlass... Who is "They"? Are you referring to a Mint? Is that who will buy it back?

It seems like that would be the best place to buy it from. ..like Sunshine Mint. There's coin or bullion of different weights.

Yes,I've been doing some research on this. I even went to a place called Ameriprise Financial to ask questions. Waste of time.

If I bought some.. Who buys it back?

What I'm doing here is possibly diversifying into Silver. I believe now is the time to buy. Then once the price goes up....sell. But to who?

Thanks.

 

[horndog]

Use the etfs as you can use stop losses if you are not paying attention and you can dump them automatically if it goes bad or set your profits when they go good. FYI 80% of your trades will be a loss.

If you are looking into hedging, then I would suggest options and actually my dad teaches how to make money conservatively if you are interested.

 

[Heisenberg]

Bitcoins.
It's all virtual.

But isn't a 1986 or 1987 Black Turbocharged Buick Regal the definition of "precious metal"?
That's where I have all my money.
Sadly.

 

[SFI Cutlass]

I'd be a little uneasy if it wasn't in my possession. Silver is basically what I'm focusing on.

SFI Cutlass... Who is "They"? Are you referring to a Mint? Is that who will buy it back?

It seems like that would be the best place to buy it from. ..like Sunshine Mint. There's coin or bullion of different weights.

Yes,I've been doing some research on this. I even went to a place called Ameriprise Financial to ask questions. Waste of time.

If I bought some.. Who buys it back?

What I'm doing here is possibly diversifying into Silver. I believe now is the time to buy. Then once the price goes up....sell. But to who?

Thanks.

As "they" I meant the jewelry stores that sells serialized numbered gold bullion or collectable coin stores that sell generic fine silver coins.


Posted from the TurboBuick.Com mobile app

 

[HighMileage]

Ok,I just read about ETF's. The info I read was a little wordy.

I'll have to do a little research on this. From what I've read,this sounds like the way to go.

I'm not sure how I would go to one of your Dads classes,horndog. I'm in NY.

 

[HighMileage]

As "they" I meant the jewelry stores that sells serialized numbered gold bullion or collectable coin stores that sell generic fine silver coins.


Posted from the TurboBuick.Com mobile app

Ok,so if the bullion hits a high and I want to sell,they have to buy it from me? Yes,of course there is probably a transaction fee. But still... If the price is right...

 

[HighMileage]

Bitcoins.
It's all virtual.

But isn't a 1986 or 1987 Black Turbocharged Buick Regal the definition of "precious metal"?
That's where I have all my money.
Sadly.

Good luck on getting the money you have into it,out of it,Heiesen..Heiser.. I still can't say your name.

I know that if I wanted to sell my GN,there is no way I'm gonna get the money out of it that I have into it. I wouldn't sell it anyway.

I've got the hot dog rolls!!

 

[S10xGN]

The only reason to "have metals in hand" would be as a safeguard for an economic collapse, in which case, you'll be trading bits of it for food and necessities. For any other reason, use an ETF. If you're trying to play the market with actual metal, there are way better options...

 

[Heisenberg]

The only reason to "have metals in hand" would be as a safeguard for an economic collapse, in which case, you'll be trading bits of it for food and necessities. For any other reason, use an ETF. If you're trying to play the market with actual metal, there are way better options...

I only wish there was a n economic collapse.
Errr..I mean another economic collapse..
I can go back to selling my body for bits of food and Buick parts.
The Buick parts are the necessities.
The food is optional.

 

[HighMileage]

Great! My thread has been Hiesenburged!

I just feel that we (US economy) might be in for some trouble coming up here. Maybe not this month...or year... But it's coming. I just want to be prepared with something that isn't gonna plunge like the dollar.

It looks like I have more research to do. I appreciate everyones input.

 

[Pronto]

S10xGN is right. Remember all the money you shell out for coins is just going to sit there. You only make money on it if it goes up and you sell it. Otherwise no interest or dividends. If there was a huge disaster what good would gold be anyway? How will trade it? How long would it last? Your currency will be useful things to someone ie; food, water, shelter, tools, ammo, fuel and sex.

 

[Jay J]

^^^In other words, things from the earth that can't be "printed out of thin air, backed my proven liars' promises to pay." Some physical gold or silver will, I believe, be a good thing to have on hand when the day of reckoning comes. Pre 1964 dimes, quarters and halves are 90% silver and are still recognized as legal coinage. Doubt if those will be confiscated, as the gold was by Roosevelt in 1933...

 

[Jay J]

oh yeah--food, fuel and don't forget the guns!

 

[NY87GN]

Etf's. Silver is slv and gold is gld.

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[TexasT]

oh yeah--food, fuel and don't forget the guns!

If you are buying for collapse, imo, guns, ammo, and rations are a way better investment. If you are "investing"(gambling), ETF is just way simpler. Buy and hold might be cool, but if you can't hold and make a lot of transactions, fees add up and cut your profits. It's like buying land, it just sits there until you turn it.

Posted from the TurboBuick.Com mobile app

 

[HighMileage]

So,on the EFT thing... First I would have to dump my broker/advisor...throw the $$ in the bank...then open an account with Ameritrade or a place like that?

Lots of things bugging me here,one of which is that she never calls me. last year was a good year,tho. but I'm skeptic about the near future. I don't want to ride a sinking ship to the bottom.

I find that precious metal prices go up when our dollar goes down. Ameritrade? Schwab? They do have EFT's.