jroback Posted September 24, 2014 Share Posted September 24, 2014 ... I was wondering if anyone here has actually purchased gold bars on-line or at a store? I was reading Michael Lewis' Boomerang, and the Dallas hedge fund manager he interviewed (who profited both from the 2007/8 US housing meltdown and the Iceland bankruptcy) said that he tells his mother "buy guns and gold bars". I figure I have the guns part covered , but looking on-line for gold bars I get this sneaking suspicion that some of these might be shady businesses. Has anyone looked into this, and can you suggest any reputable gold sellers? Thx, JR Link to comment Share on other sites More sharing options...
Hi-Power Jack Posted September 24, 2014 Share Posted September 24, 2014 Not sure if they're still available, but long time ago people used to buy Krugerands (gold Australian coins). Link to comment Share on other sites More sharing options...
e-mishka Posted September 24, 2014 Share Posted September 24, 2014 apmex.com Link to comment Share on other sites More sharing options...
Nik Habicht Posted September 24, 2014 Share Posted September 24, 2014 Not sure if they're still available, but long time ago people used to buy Krugerands (gold Australian coins). Try South African gold coins...... Named after Paul Kruger, 4-time president of the South African Republic..... The coins contain a troy ounce of gold.... Link to comment Share on other sites More sharing options...
jroback Posted September 25, 2014 Author Share Posted September 25, 2014 e-mishka: Have you purchased from apmex.com before? Just curious if you were happy with their service... I see that they have a large variety of Krugerands to choose from JR Link to comment Share on other sites More sharing options...
kellymc Posted September 25, 2014 Share Posted September 25, 2014 I now my Dad believes he got a bad deal from the NRA gold bullion dealer. Link to comment Share on other sites More sharing options...
D.Hayden Posted September 25, 2014 Share Posted September 25, 2014 (edited) if you want to hold gold to actually have it - that's one thing you can also just buy funds that track the gold price, if you want the dollar increase/decrease There's gold coins available form many different countries, US, Canada, etc ETA - you have to look into the fees when trading real gold on the buy and the sell Edited September 25, 2014 by D.Hayden Link to comment Share on other sites More sharing options...
kneelingatlas Posted September 25, 2014 Share Posted September 25, 2014 I buy metal from a local shop, but they also do online business: libertymetals.com When looking for a metals dealer, look at the speed between their buy price and sell price, that will tell you how much they take from each transaction. It varies with the market but 6% spread is normal, 4% is good, but I've seen as much at 12%! Giant billboard which read "We Buy Gold" are usually a good indicator you're not going to get top dollar... Link to comment Share on other sites More sharing options...
TH3180 Posted September 25, 2014 Share Posted September 25, 2014 e-mishka: Have you purchased from apmex.com before? Just curious if you were happy with their service... I see that they have a large variety of Krugerands to choose from JR I purchased from them five maybe six years ago. I had no complaints that I remember. I would purchase from them again if I was in the market. Link to comment Share on other sites More sharing options...
e-mishka Posted September 25, 2014 Share Posted September 25, 2014 e-mishka: Have you purchased from apmex.com before? Just curious if you were happy with their service... I see that they have a large variety of Krugerands to choose from JR I bought from them twice this year. Fast shipping no complaints. Link to comment Share on other sites More sharing options...
Steve RA Posted September 25, 2014 Share Posted September 25, 2014 Remember - "Buy low, sell high". Don't buy any when the price is at a peak. Course, this holds true for a lot of things. Presently a good example is .22 LR cartridges. Link to comment Share on other sites More sharing options...
jroback Posted September 25, 2014 Author Share Posted September 25, 2014 Kelly: Guess I won't be getting my gold from them! DH: The hedge fund guy in the book said specifically, don't buy futures, funds etc. Buy real gold bars. The idea I guess is that if our economy collapses (s.a. Iceland, Greece, Ireland, etc) these funds will be worthless but actual gold will retain and actually increase its value. This is probably old hat to the experienced investors out there, but I'm still trying to learn and develop a strategy. Atlas: Based on spread, your dealer's 5% looks pretty reasonable (looks like apmex is at about 3% right now). Do you buy bars or coins? TH and e-m: Thanks! Steve: yup, good advice. Link to comment Share on other sites More sharing options...
MWP Posted September 25, 2014 Share Posted September 25, 2014 Is there a theory between gold and survivalists? Link to comment Share on other sites More sharing options...
kneelingatlas Posted September 25, 2014 Share Posted September 25, 2014 Atlas: Based on spread, your dealer's 5% looks pretty reasonable (looks like apmex is at about 3% right now). Do you buy bars or coins? I buy bullion, it's not that one is better than another they're just different investment vehicles; coins buy and sell at a premium which reflects a collector value. There are multiple factors involved in the price of precious metals, some of which are: the more objective value as a raw material, the more subjective value as a something pretty, the speculative factor, so to me, collectible coins just weigh more heavily on the subjective valuation. On the contrary, palladium is weighted more towards it's industrial utility which I appreciate. Personally I employ a balanced portfolio of all four major metals. Link to comment Share on other sites More sharing options...
JohnRodriguez Posted September 26, 2014 Share Posted September 26, 2014 I wouldn't buy gold till it hits 800/oz. not a good investment right now. being in the mining industry, it's amazing how much the precious metals and minerals that support the steel industry have dropped in prices in the last year. Link to comment Share on other sites More sharing options...
kneelingatlas Posted September 26, 2014 Share Posted September 26, 2014 Bulls make money, bears make money, pigs get slaughtered. Link to comment Share on other sites More sharing options...
technetium-99m Posted September 26, 2014 Share Posted September 26, 2014 Is there a theory between gold and survivalists? In these dark times we are only days away from a nuclear scorched hellscape. Gold and 22 will be the currency of the wastelands. Seems to be the theory from the ones I've talked to in OKC. I know of a person who is sitting on 270 thousand rounds of 22 as well. Link to comment Share on other sites More sharing options...
Frankly Posted September 26, 2014 Share Posted September 26, 2014 (edited) As an investment, perhaps going long on precious metals makes sense. But in a true apocalypse, who will care about blocks of gold? Some warlord? In the much more likely scenario of a month long power grid faiilure, a terrorist's dirty bomb, or anything that disrails our economy for a spell, small common denomination US coins with known gold and silver content are going to be the currency of choice, aka "junk silver" or pre-1964 coins. You can buy these at coin shops, rates are published online so you can't get screwed too bad. Giving someone a few silver dimes for fuel and food may be a lot easier than whittling off a shaving from your gold bar. Edited September 26, 2014 by Frankly Link to comment Share on other sites More sharing options...
Steve RA Posted September 26, 2014 Share Posted September 26, 2014 I'd agree with one of the above posts: If a calamity should occur, I'd think after the dust settled that ammunition would be one of the major currencies and .22 Long Rifle would be at or very near the top of the list. Link to comment Share on other sites More sharing options...
TBeazlie Posted September 26, 2014 Share Posted September 26, 2014 The gold I buy is in coins. The bars I buy are lead and tin. Link to comment Share on other sites More sharing options...
Miranda Posted September 26, 2014 Share Posted September 26, 2014 (edited) value........ lead has a value that is difficult to pin. one of my favorite quotes is "quantity has a quality all its own" Frankly, about the time old us silver is good currency... good weapons and ammo may be worth more. I have to state that I am not sure I will suffer a warlord. Take a page from our history, if our economy stumbles for any reason... we need only to realize that "the only thing we need to fear is fear itself." .... I'l still like some powder to go with my primers and lead bars .... I can only imagine how a toothless tiger feels. miranda edited to fix a misquote Edited September 26, 2014 by Miranda Link to comment Share on other sites More sharing options...
Steve RA Posted September 26, 2014 Share Posted September 26, 2014 The thing I think a lot of people don't realize is that if the power and water went away a vast amount of the present population would probably be dead in a fairly short period of time. Most people could not exist in the wilds as they could in 1800 and if they live in big cities would probably not be able to get out to the country in the first place. Link to comment Share on other sites More sharing options...
jroback Posted September 27, 2014 Author Share Posted September 27, 2014 I think I'm not understanding something. Why 22 ammo, and not another caliber? Link to comment Share on other sites More sharing options...
kneelingatlas Posted September 27, 2014 Share Posted September 27, 2014 I think I'm not understanding something. Why 22 ammo, and not another caliber? Because it powerful enough to kill small animals for food, yet light enough to carry in large quantities. Imagine what 1,000 rounds of 223 would feel like in your backpack Link to comment Share on other sites More sharing options...
Steve RA Posted September 27, 2014 Share Posted September 27, 2014 Well, it will work on people and deer also. Main thing, as pointed out by Kneelingatlas, is the ability to carry a large quantity along with whatever else you would - or could - carry. Also, you probably would not be able to purchase anymore for a long, long time. Link to comment Share on other sites More sharing options...
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