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Buying Bullion

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RachelM
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Buying Bullion

Postby RachelM » Fri Nov 24, 2017 11:48 pm

Hello everyone,

I've been making a point to buy a bit of precious metals, mainly silver as gold is so damn expensive. I'd like to get into gold, and I've been looking into buy the tiny 1g coins/bars or fraction-ounce coins. Problem being is that they end up being more expensive by weight it seems to compensate. Is there any place to find smaller quantities that are closer to spot price? Because some of these smaller quantity coins I've been looking at are close to double the spot price per oz. I'm also interested in platinum and palladium, but not sure as to the actual trade value of them.

I think I will probably end up investing in some 1g's, since if they do end up being a trade item its a much more manageable sum than having full 1 oz coins due to the value.

Any advice greatly appreciated!
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peppercorn
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Re: Buying Bullion

Postby peppercorn » Sat Nov 25, 2017 6:59 am

RachelM wrote:Hello everyone,
Any advice greatly appreciated!


Ill just throw this out for you to think about, I don't think I have seen it mentioned before. Gold is great, 1 ounce maples are a great store of wealth but as you have observed are pricey, I don't really recommend sub one ounce sizes, I really advise to save up for that because as you have observed you pay such a cumulative penalty in buying smaller amounts, for smaller amount (less than 1 ounce gold sizes) consider silver to give you some store of wealth...its not at a horrible price right now, has great up side potential, is also a industrial metal giving it demand outside of economic conditions, so it can take a wild swing to the up side now and again. 1 ounce silver maples are great, and are affordable. you will pay a premium over spot price, but such is life.
Now you can get closer to spot price by buying larger generic bars 1kg or more, but believe it or not I actually recommend the Canadian old silver dollar and half dollar. NOT the collector grade coins, but the beat up circulated ones, I forgot the name for these but they are traded every day on all sorts of platforms and sold usually at spot price... I think the last time I bought some was right off ebay, put in your offer at the price you want them for, sometimes you get it sometimes not. I last bought 400 dollars worth in the fall of 2008 for the spot price, had to pay a little shipping but it was little if I remember right. Each silver dollar is like (roughly)having a twenty dollar bill ...a handy size to have.
My memory might be foggy but if I remember right back then the Canadian dollar was above the US dollar, so I think my cost was actually under 10 dollars a ounce at the time. Anyway just another way to buy silver.
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peppercorn
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Re: Buying Bullion

Postby peppercorn » Sat Nov 25, 2017 7:20 am

Just back to add that these are useful as well as valuable...if you like playing poker use these in place of chips. Nothing like the resounding ring of a real silver dollar being tossed into the pot.
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helicopilot
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Re: Buying Bullion

Postby helicopilot » Sat Nov 25, 2017 7:37 pm

In Canada, I bought from Silvergoldbull and always had great service. I have bought some 1/10 oz of gold and almost afraid to lose them so tiny they are! And you are right about the extra premium even though I got them "on sale". For the silver, I bought some generic ones (sunshine) which are closer to spot than maple leafs while still coming from a reputable place.

I've also found that while you get penalized financially for buying smaller than 1Oz that the inverse of buying larger sizes isn't as significant.
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Re: Buying Bullion

Postby term0shad » Fri Dec 01, 2017 7:33 am

Not to be rude. But i personally wouldn't buy silver or gold. In my eyes its not worth it. If shtf i want stuff i can build gear with. Not to make crap for show. I'm sure any black Smith would agree.
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Re: Buying Bullion

Postby helicopilot » Fri Dec 01, 2017 5:57 pm

There's room for everything. I wouldn't put all my eggs in one basket and purchasing bullion is not just for zombie apocalypse either. It's an honest for of investment that certainly beats fiat money or worse yet, virtual currency that goes from your employer's account to an online account to a credit/debit card to point of sale to a merchant's account.

History has proven that those with some form of precious metals have done well after major situations like wars and major recessions.

But then again, owning land (mortgage free) and able to be self sufficient also goes a long way.
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Re: Buying Bullion

Postby peppercorn » Sat Dec 02, 2017 6:59 am

Not rude at all, question everything is my motto.....Part of shtf is the phase of loss of financial control, someone living in Venezuela has a firm grasp of that, I suspect when bank accounts were frozen in Greece and then withdraws were limited to 80 or a 100 a week while inflation destroyed the value of the savings locked in that you could not get at....these people too, I suspect wished they had something convertible outside the control of the state.

All fiat currencies in history, I will say that again...ALL..... have reverted to the value of what they are printed on, or as is the practice now days...not printed on, just a imaginary entry....Just for fun go your bank on a Friday afternoon and try and withdraw 4000 in cash....You will likely wind up talking to the branch manager, and have to listen to him tell you why he needs notice before he can do that, He will happily certify your cheque for that amount but give you cash? well that can be hit or miss!! and that's a true story.

Just having currency in the bank can and will cost you money now days...you can expect to be hit with "low activity" charges on your account, or "high activity charges", "low account balance charges" "account maintenance charges" or "annual reconciliation charges" or "over atm use charges" or my favorite type of charge...."account inquiry charges" ...cash in the bank will be eroded away in a myriad of nickel and dime charges that will drive your blood pressure through the roof... and that's in todays good times!! In my lifetime I have seen wage and price controls, I have seen double digit inflation and interest charges, I have seen real metals backed currency ( it said "will pay to bearer" right on it) that had value, and now, currency that does not even exist. I don't know whats coming next.....but I know I would like to submit labour that does not exist for this money that does not exist!!

Some, Im not saying a lot, but some precious metals is part of a well diversified long term strategy for stability. It ranks right along side lead in the diameter of your pleasure, or 7018, or 6010 again of the diameter that you can burn..I assume you have the 3 latter, so consider the former just to round out your stock of options. A box or case of 7018 wont likely get one tooth pulled and another filled in the time you need that done, but I know a 1/4 ounce maple will!! and with change to boot!
and when you need it done now, right now! gold and silver will make that happen....when you have more time, then you can use your other metal, 7018 and 6010 to as you say "build gear with".
Everything has its place and use........its all about options...have many! build them over time...


And Just in case you would like some metal that's useful for building stuff as thats your thing, I am sending a link to your PM. Its for a stick welder out your way, I would offer 300 only because it looks to be in mint condition, that model has been out of production for 17-19 years or more but it blows away the newer models, non inverter so no electronic parts, single phase, will last forever, you can do stick ac and DC or scratch start tig with it (even battery charging!!), and while the name plate says 240 volts, it will also run on 120 volts (most people don't know that). I owned one that I lost in a fire, so I can tell you from experience they are built bullet proof, and kick ass....just not fireproof!
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