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Old 11-05-2011, 12:55 PM
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wanting to buy gold , but not sure whats the best way. coins or bars?
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Old 11-05-2011, 01:06 PM
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Originally Posted by docters oarders View Post
wanting to buy gold , but not sure whats the best way. coins or bars?

I'd buy coins if I were going to buy, I'm not sure what size bars come in but a coin is usually 1 oz and is easily accepted, some have a slightly higher value than others.

Like anything else that is traded, you may have missed the boat if you are investing in it. If using it as an emergency backup plan that's fine but look to lose some/much value at some point.
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Old 11-05-2011, 01:08 PM
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unless you are buying > $1M, 1 Oz coins are the way to go. They have the lowest buy / sell spread. Easy to trade.
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Old 11-05-2011, 02:09 PM
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When you hear ads for gold on the radio, that is a sure sign it is not the time to buy. Just my ..02
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Old 11-05-2011, 02:29 PM
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Originally Posted by Boat Hound View Post
When you hear ads for gold on the radio, that is a sure sign it is not the time to buy. Just my ..02
I disagree. Congress can't agree to cut 3% after 4 years of net 30% increases in gov spending. we are going $1.5T deeper in the hole each year and congress's great plan is to cut $1T over 10 years (and nearly all of that is in the out years, and may even be counted against expected growth.)!

All this guarantees QE 3, 4, 5, 6, and 7 are in the immediate future.

Throw in europe... I'm sure their politicians will fix everything.
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Old 11-05-2011, 02:34 PM
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Couldnt you buy the etf GLD and not have to worry about storing it, etc, etc.
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Old 11-05-2011, 02:35 PM
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You may have missed the boat on this if you are investing in it for a short term profit. Gold is at a record high and it will go up but not as much as it has in the last two or so years. JMHO
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Old 11-05-2011, 04:00 PM
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I am thinking long term 30+ years. this would be for my kids after I die.
something I can store in my safe at the house. I have a 401k losing big at the time. I will never need this 401K as I have a IRA.
I just want something my kids wouldn't get jacked on in inheritance tax.
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Old 11-05-2011, 04:06 PM
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Originally Posted by docters oarders View Post
I am thinking long term 30+ years. this would be for my kids after I die.
something I can store in my safe at the house. I have a 401k losing big at the time. I will never need this 401K as I have a IRA.
I just want something my kids wouldn't get jacked on in inheritance tax.

Myself, I'd be inclined to wait until prices came back down some. But that's only my opinion, others will say prices are here to stay, it's all up to which way you think things will go and what you are comfortable with.

PS If you need a safe place to keep it send me a PM and I'll give you the combo of my safe, nothings gone missing in forever!
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Old 11-05-2011, 04:08 PM
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Originally Posted by littletunny View Post
Couldnt you buy the etf GLD and not have to worry about storing it, etc, etc.
Pro shares let you double, triple the price of gold
If you believe, then a smaller investment is better and you get the rewards

trade as a etf but much better

Last edited by The Fish Whisperer; 11-05-2011 at 04:39 PM.
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Old 11-05-2011, 04:33 PM
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Try Kitco pool account, it is the smallest spread out there. IMO if you want long term... go with silver.

1 oz Eagles would be my suggestion if you want to buy physical gold.
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Old 11-05-2011, 06:45 PM
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I've always wondered...if gold is so great..why do folks want my worthless dollars as trade for it?
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Old 11-05-2011, 07:21 PM
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Originally Posted by Joe View Post
I've always wondered...if gold is so great..why do folks want my worthless dollars as trade for it?
The dollar is based on gold.
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Old 11-05-2011, 07:30 PM
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Originally Posted by Ifishalot View Post
Try Kitco pool account, it is the smallest spread out there. IMO if you want long term... go with silver.

1 oz Eagles would be my suggestion if you want to buy physical gold.
Ditto.
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Old 11-05-2011, 07:46 PM
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buy when its low sell when its high , in my opinion its not the time to buy gold , real property in the other hand its great .
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Old 11-06-2011, 04:11 AM
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Originally Posted by id-10-t View Post
The dollar is based on gold.
What century are you living in? Completely false.

Have you even heard of quantitative easing?
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Old 11-06-2011, 08:19 AM
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Originally Posted by docters oarders View Post
I am thinking long term 30+ years. this would be for my kids after I die.
something I can store in my safe at the house. I have a 401k losing big at the time. I will never need this 401K as I have a IRA.
I just want something my kids wouldn't get jacked on in inheritance tax.

Just some things to think about:

- if you hold gold it can be confiscated as it once was in the early part of the last century.

- if you aren't holding the gold you don't really know the status of your "investment" unless your gold is being held in a regulated system.

- where you hold your gold could be important.

- a couple of European countries are already starting to apply restrictions on how gold (and other metals) are bought/sold.

- if you are holding gold and it is not confiscated, it may still be very difficult to sell.

- gold US coins are money first, gold second, so they can always be offed for their face value.

- if you put your gold in your safe it is vulnerable to anyone with a $50 handheld grinder and 1-minute of free time. Yes,it really is that easy to open a safe.


If I were to roll a 401K over into gold I would buy gold in Switzerland though a bonded holding company. In a nutshell, you buy bars of gold that are held in a secure vault. You never take actual delivery of the gold but it is yours, you own it. You do pay a small monthly fee, like renting a post office box. The gold bars are regularly assayed, weighed, and checked against established records by independent auditors. The holding company never audits itself -- it is always 3rd party. You can review the published audits to find you bars, verify their purity and weight. If you want to sell your gold let the holding company know and someone else owns that bar of gold and you get a check or money transfer to your bank. This is how the big boys buy/sell gold. It never really leaves the holding company's vault.

- what will happen to your gold if there is a war in Europe?

- Hong Kong is coming up fast as a safe place to buy and store gold -- but HK belongs to China.
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Old 11-06-2011, 03:11 PM
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Buy 1oz Eagles, Buffalo's, Maple Leafs of Krugrands, and take physical possession of them as they are easy to buy and equally easy to sell. Do not store um at home - too much risk, no matter what kind of safe you have - keep um in a Bank safe deposit box - that's what I do anyway. If you are not an experienced gold buyer, then do as Ifishalot said, buy thru Kitco https://online.kitco.com/bullion/completelist_USD.html, as they are as good, reliable, honest, etc., etc., as anyone you will find, and be weary of buying gold from anyone not recommended by someone you know and trust - and do not even trust Ifishalot or me - do your own research on Kitco or whoever you decide to purchase gold from.
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Old 11-07-2011, 04:03 AM
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Any other ideas of what I can do with this money. I am not looking to make money on it, I just want it easy for my kids to get their hands on it if and when I pass as it could be any time and know one knows what day it could be.I just don't want the government getting hands on it and Taxing them.
For instance I have 1 adopted teenage boy that lost his father when he was 7 . his father died in a vehicle accident on I-95, no fault of his own at 35.
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Old 11-07-2011, 08:37 AM
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Originally Posted by docters oarders View Post

... I just want it easy for my kids to get their hands on it if and when I pass as it could be any time and know one knows what day it could be.I just don't want the government getting hands on it and Taxing them.

Not sure you are going to be able to avoid future taxes. ovt may decide to tax the sale of all gold.

As far as the govt keeping their hands off your gold, that is part of why folks are opting to buy and store gold abroad. You can go and pick it up, or you can have it sent to you, or your kids (heirs) can order the sale of the gold without it leaving the vault. I am not sure but I would bet gold held abroad in a vault is not reported to any govt entity. It is NOT a bank, you are purchasing a physical product, not a currency. I'm guess the sale of the gold isn't reported, either. The down side is you do pay a nominal monthly storage fee.
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