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Home >> Stock Forums >> Precious Metals

Precious Metals

gamecube10074 said: "Does anyone know a few places to buy precious metals? Gold... silver, and platinum? Mainly gold and silver. A secure place... Payment options i can do. Paypal, Wire Transfer.... I am probably going to buy a few bars of gold, and a few bags of silver coins. (I know current prices) So post some links for me, thanks!"

newinvestor123 said: "kitco.com is one - At least one person I know has bought gold and silver from there and was satisfied. Just google 'buy gold' and you'll get quite a few hits. If I might ask, why are you interested in buying gold and silver?"

Mackie said: "I have bought silver coins and a few bullion bars from ebay. I got pretty good prices mostly too. Sure if you wanted to spend thousands, this probably isn't the way to go about it, but for purchases valued at a couple of hundred it is ok."

Pb3190 said: "I think investing in precious metals is a good idea, but I had not though of buying the metal itself! I had been thinking along the lines of stock of companies involved in the metals."

JAP said: "You want silver, simply buy junk silver coins. Any pawn shop should sell them to you at the spot price. I have tons of junk silver plus high grade coins (ie. BU, MS, proofs). You might even get a few rare dates/mint marks if the seller is not very astute."

Rbreb13 said: "[QUOTE=JAP] You might even get a few rare dates/mint marks if the seller is not very astute.[/QUOTE]Not very likely, at least not the pawn shops around here."

newinvestor123 said: "I have heard of a few instances where someone got a great bargain on Ebay."

Pb3190 said: "I used to look an ebay for stuff a lot, but would almost never buy. It is a great place to find older items though, and some people don't know the true value of what they have."

newinvestor123 said: "I thought about buying a couple thousand bucks in silver for a rainy day (read: doomsday scenario), but decided I'd just mooch off my dad's supply if the day ever comes that I need it! :th_dblthumb2:"

LongArm said: "Why not just buy the gold and silver ETFs, GLD and SLV?"

Pb3190 said: "That is what I would do if I wanted to get into metals. Would it not be much easier to sell an ETF in seconds over the internet, than to sell bars of gold or some other metal? I think metals are a good hedge against the dollar, but not much in the way of a doomsday device. Do you plan on buying gas and food with a bar of gold?"

Rbreb13 said: "For a doomsday scenario, IMO. The best commodity to own is bullets. Ammunition will be worth its weight in gold/silver."

Pb3190 said: "I never would have though of that, but it makes sense. If something bad enough to cause the fall of currency throughout the world, what says gold and silver will work any better? With so much turmoil going on at such a point, violence might be a means of getting what you want, and that would require bullets. Not like it isn't already so to some extent today..."

Rbreb13 said: "It would also mean you could defend yourself and your stuff from those that would like to have it. You could trade .22 shells for food, etc. I keep about 30,000 rounds of .22 LR in stock at all times for just such a scenario."

Pb3190 said: "I don't know much about that stuff, but that sounds like a lot of ammunition... Enough to go hunting for a long, long time. If anyone tried to rob you, they would be in for a suprise."

JAP said: "[quote=Rbreb13]It would also mean you could defend yourself and your stuff from those that would like to have it. You could trade .22 shells for food, etc. I keep about 30,000 rounds of .22 LR in stock at all times for just such a scenario.[/quote] I thought I was a gun nut... Rb is hardcore! I only have about 5000 rounds for my.22. Time to go shopping!"

Rbreb13 said: "[QUOTE=JAP]I thought I was a gun nut... Rb is hardcore! I only have about 5000 rounds for my.22. Time to go shopping![/QUOTE]I very well could be classified as a gun nut. I remember you said you needed a shotgun in the shoutbox awhile back. I own 8 or 9 shotguns, I'd have to go count them to be sure! LOL"

newinvestor123 said: "Gold and (more often) silver have been used as money for thousands of years, and if fiat money fails, the system will probably revert back to those currencies. Of course, in such a scenario, ALL necessities would be worth much more than what they currently are, and a barter system would be established out of necessity, but eventually, a basic currency system would be reestablished, and the logical choice for currencies in the absence of govt backed bills is gold and silver. But for now, just buy PM miners... :th_dblthumb2: [url]http://www.moneyandmarkets.com/press.asp?rls_id=928&cat_id=6[/url]"

crankitdb711 said: "[QUOTE=JAP]I thought I was a gun nut... Rb is hardcore! I only have about 5000 rounds for my.22. Time to go shopping![/QUOTE] 30,000 rounds of .22 is 6 bricks. You can fit 6 bricks in a shoebox. I must have at least twice that. I do, however, have crates and cases of battle packs and sardine cans of .308 and .223 in my basement waiting for the zombies. Guatamalan, South African, Wolf (ew, I know), Lake City (oh yeah), you name it. Okay, so I'm ready for the NATO war... but what if the Chinese, Russians, Mideast, etc, invades... yeah, I've got the 7.62x39, 7.62x54Rm, thousands of this as well. And that's just rifle ammo (well, I guess I forgot the .30-30, .303, 8mm but that's all negligible) Bring the ruckus. :th_dblthumb2:"

crankitdb711 said: "[QUOTE=Pb3190]I don't know much about that stuff, but that sounds like a lot of ammunition... Enough to go hunting for a long, long time. If anyone tried to rob you, they would be in for a suprise.[/QUOTE] enough to hunt chipmunks and birds for a long, long time. :roll:"

newinvestor123 said: "I have no gun because I have no place to put one in. If I did, I would have a few, and I would have plenty of ammunition..."

Rbreb13 said: "[QUOTE=crankitdb711]30,000 rounds of .22 is 6 bricks. You can fit 6 bricks in a shoebox. I must have at least twice that. I do, however, have crates and cases of battle packs and sardine cans of .308 and .223 in my basement waiting for the zombies. Guatamalan, South African, Wolf (ew, I know), Lake City (oh yeah), you name it. Okay, so I'm ready for the NATO war... but what if the Chinese, Russians, Mideast, etc, invades... yeah, I've got the 7.62x39, 7.62x54Rm, thousands of this as well. And that's just rifle ammo (well, I guess I forgot the .30-30, .303, 8mm but that's all negligible) Bring the ruckus. :th_dblthumb2:[/QUOTE]crank, ya got me to thinkin'. So I went and checked my stock. I have 22+ bricks of .22 LR. I also have a crapload of .223, 7.62x39 and ammo for all my other calibers. I have over 100 pounds of misc. powder and over 100,000 primers. Not to mention 8+ cases of 12 gauge. As well as 1000's of rounds of pistol ammo. I'm prepared for the zombies as well! :th_coolio:"

Pb3190 said: "What is a brick? And how much space does all this take up? I have this image in my head of boxes of ammunition stacked all over the house."

Rbreb13 said: "A brick is 10 boxes of .22 ammo in a carton. About the size of a "brick". I have a whole room in my trailer devoted to guns/reloading etc. Small room though, about 8x12."

crankitdb711 said: "[QUOTE=Rbreb13]crank, ya got me to thinkin'. So I went and checked my stock. I have 22+ bricks of .22 LR. I also have a crapload of .223, 7.62x39 and ammo for all my other calibers. I have over 100 pounds of misc. powder and over 100,000 primers. Not to mention 8+ cases of 12 gauge. As well as 1000's of rounds of pistol ammo. I'm prepared for the zombies as well! :th_coolio:[/QUOTE] :respect: Nice! Good to see someone else has a lot too so I don't feel so strange :laugh: But yeah, you have seen, as have I, how much ammo has gone up... better to buy it now than later, I say. (especially while we can at all) In retrospect, I have to apologize... I went to order a new drag bag and thought I'd pick up some .40 and .22 also and realized that I was wrong how many rounds are in a brick... probably should have gone and looked at a brick before I said something. 30K rounds is actually quite a few bricks and takes more then a shoebox. :laugh: my bad. Anyway, happy stashing"

crankitdb711 said: "[QUOTE=Pb3190]What is a brick? And how much space does all this take up? [B]I have this image in my head of boxes of ammunition stacked all over the house.[/B][/QUOTE] lol, yeah, that's a pretty fair assessment :laugh:"

Rbreb13 said: "I was thinking bricks wrong also. I only have a bit over 10,000 rounds, not 30,000 (need to get more). This doesn't include all my .22 magnum ammo, or the shorts."

crankitdb711 said: "[QUOTE=Rbreb13]I was thinking bricks wrong also. I only have a bit over 10,000 rounds, not 30,000 (need to get more). This doesn't include all my .22 magnum ammo, or the shorts.[/QUOTE] :) ha, oh well. But yes, I am jealous of you that you get to live in a non-fascist state. The People's Republic of New Jersey is killing me with the amount and type of toys I can get. Not to mention the pain in the butt I have to go through to bring them to my range, etc. :angry:"

Pb3190 said: "Back to the metals... How do those of you with precious metals like gold and silver keep it safe? I would worry about having it at home, but if it were for some doomsday event I would also worry about keeping it in a safety deposit box at the bank."

LongArm said: "I don't have any gold/silver, but a lot of folks store it in a safe deposit box and many buy insurance on it too. That gives you two layers of protection."

AlfredSokol said: "I was ripped off on Ebay a few times. It turned me off to buying."

Pb3190 said: "I have only used ebay once, to sell. It went fine, but I would be leary of buying anything. When I do look for items to buy, I rule out any sellers without very good feedback."

newinvestor123 said: "I have used ebay many times, but I don't buy anything from anyone with less than 95% positive feedback and less than 20 transactions. Usually, the more positive feedback a person has, the greater lengths they will go to to keep YOU from giving them the negative kind, which is a tool in your arsenal should the transaction not go as planned."

lb19984 said: "i like apmex.com for bars/coins and [url]http://www.gainesvillecoins.com[/url] for high grade coins I have gold, silver and high grade coins (NGC MS70) I think they rise more or less at the rate of real estate. Which IMO is the next best thing to stocks, also they are a great long term play on imflation and commodities. All my coins are either gold or sliver gonna get some platinum and paladium next..."

Maverick Investor said: "I can back up to Kitco recommendation. I've held a kilo of gold since 2003, at the Perth Mint, and it cost me nothing in storage charges. Sadly, I did have to sell up recently. I made a lot, but I reckon there's further to go. Cheers!"

newinvestor123 said: "[QUOTE=Rbreb13;53628]I'm prepared for the zombies as well! :th_coolio:[/QUOTE] I salute you, Rb... LOL"

Maverick Investor said: "I'll come back later! On the storage front, Perth Mint will store precious metals for you and issue a certificate of ownership. You can do this through Kitco. Storage costs nothing, too, providing it is unallocated. Cheers!"

JAP said: "I've recently purchased about 7K in silver coins on Ebay. About 25% junk silver and 75% UNC rolls of rare date quarters and half dollars for their numismatic value. These are long term (10-20 year) investments. As New says, never buy from anyone with a rating below 95%. I try to stay with sellers with above 98%. Like Pb, I've also thought about the ramifications of keeping gold and silver in a bank safe deposit box. In the event of a complete economic collapse (ie. doomsday), I would not feel comfortable keeping my coins at a bank. In 1933 FDR made it illegal to own/horde gold and gold coins. I can easily see that happening again when/if our fiat currency collapes. Will it ever happen?... it's possible, but not probable."

AlfredSokol said: "I have one item for the event of an economic meltdown. It is a 9mm Glock. With this item I can procure all the other items I need. Plus, it is much lighter than gold."

Airelon said: "[QUOTE=AlfredSokol;60120]I have one item for the event of an economic meltdown. It is a 9mm Glock. With this item I can procure all the other items I need. Plus, it is much lighter than gold.[/QUOTE] That I would see as much more likely. Both grandfathers told us of gangs that would just rove the side of the country and take what they wanted from those that had some means of livelihood. The base nature of human beings in the worst situation will not be to struggle to survive. It will be to kill what is living. It's what human beings do best. Heck, that was in the 30's when the idea of morality was a lot higher. Can you imagine what kids today would be like?"

lil dickie said: "I really hope this meltdown doesnt occur. I love my cushy life"

Heather said: "I don't really care for Ebay that much. I don't think I'd use it to buy gold coins at all."

newinvestor123 said: "I think gold is consolidating for another upleg - Just putting it out there."

newinvestor123 said: "[QUOTE=AlfredSokol;60120]I have one item for the event of an economic meltdown. It is a 9mm Glock. With this item I can procure all the other items I need. Plus, it is much lighter than gold.[/QUOTE] Nothing like a stressful situation to bring out the pragmatic side of people - But don't forget: You won't be the only person with a gun... If that day comes, my mother's husband will be the man to see. He has a vertical mill, a metal lathe, welding equipment, CB radios, HAM equipment, tons (literally) of various kinds of scrap metal sitting around, and more guns than I've ever seen outside of a pawn shop. I imagine he wouldn't mind having someone around who can accurately shoot one of his match-grade AR-15's on the property either, so if that ever happens, I'm golden! (excuse the pun :laugh:) Gold is up about 5% over the last week. The dollar has begun drifting downwards again, and people are uncertain about what is going to happen in Pakistan. Lower interest rates are expected from various large central banks around the globe, which generally means more inflation. The two bearish factors for gold is that if global economic growth slows, the Chinese and Indians probably won't buy as much, and February - April is seasonally slow for gold buyers in those two countries. Still, I don't think the gold bull has come anywhere close to running out of steam, and I'm currently holding my gold mining stocks without the GDX short as a hedge."

newinvestor123 said: "For anyone who's interested, [URL="http://www.seekingalpha.com/article/58881-commodity-super-cycle-ready-to-rumble-in-2008"]this article presents a pretty good picture[/URL] of why commodities in general and gold in particular are good investments."

newinvestor123 said: "Some of you might remember my ranting about global M3 growth and how it was going to create inflation on a global scale. Well, here's the first sign of it: [url]http://www.washingtonpost.com/wp-dyn/content/article/2008/01/24/AR2008012401831.html[/url] Meanwhile, the markets are down and gold is up. I sold ALL of my stocks a few days ago, but when gold shot up $25 Wednesday, I decided that gold traders were betting that the FED would overinflate the money supply, so I picked up some smaller positions. It looks like the Chinese are bidding gold up again this morning, so I'm looking to pick up some more today. Dammit when am I going to learn to just stick with my positions?!?!?!?!"

newinvestor123 said: "Gold rallied $16 today to a new all time high of $944. I bet the Asians will carry the rally further tonight...."

pranith said: "Well i do buy precious metals at kitco.com. Here is the place where you can buy all the metals you want."

Priya Gokhle said: "Gold and Silver is for two reasons either asset appriciation or asset accumulation. If you are looking for asset appriciation then go for gold ETF but if its for asset accumulation then look for putting solig gold in your bank locker or under your Bed!!! Cheers -Priya"