Ten Commandments For Buying Gold & Silver
goingbroke
Posts: 1,410
I. Always take delivery
II. Never buy premium if you can avoid it.
III. Buy bullion for business, numismatics for fun.
IV. Buy silver first, then gold.
V. Buy small gold first, then large.
VI. Never buy exotic coins or modern rarities or anything you don't understand.
VII. Know your dealer.
VIII. What governments can't find, they can't steal.
IX. Never swap bullion coins for U.S. $20 gold pieces.
X. Never break the law.
II. Never buy premium if you can avoid it.
III. Buy bullion for business, numismatics for fun.
IV. Buy silver first, then gold.
V. Buy small gold first, then large.
VI. Never buy exotic coins or modern rarities or anything you don't understand.
VII. Know your dealer.
VIII. What governments can't find, they can't steal.
IX. Never swap bullion coins for U.S. $20 gold pieces.
X. Never break the law.
Many successful BST transactions ajia
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
0
Comments
<< <i>IX. Never swap bullion coins for U.S. $20 gold pieces. >>
Why?
Why?
See "II", above.
I knew it would happen.
XI Buy on every dip.
and most important...when to SELL!!
XII Sell PM's when Gold = DJIA.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Since gold is more widely recognized as money, for those that can afford to buy ounces of gold I'd say accumulate gold first for stability, then go after silver. For those who don't
have as deep pockets silver might be the only cost effective way to go.
roadrunner
The implication is that generic is better than brand-name, or that material of unknown origin, date, karat, and weight, be it bars or coins, is better than known purity modern ounce-based material.
I don't think that's the case. I don't believe it's true in good times, and it certainly isn't true in SHTF times.
--Severian the Lame
When it comes to selling nice stuff sells much better, I have found out.
Many years ago common circ. $20 Libs were selling retail for melt +$25 at a time when we were selling single gold eagles for spot +$30. We would have gladly swapped your eagles for our $20's even up.
TD
To me, it means not to buy Double Eagles when you can buy American Gold Eagles because the premium for Double Eagles will likely be higher for the same amount of gold. Obviously, if you know more of the nuances in the marketplace and if you know what you are doing, some of these rules don't apply as readily.
I knew it would happen.
<< <i>Never "PAY" premium would be a better choice of words for #2. IMHO. >>
That could in fact be one interpretation. But I'd still take exception to it.
You have a choice between a 1-oz gold coin, like the coin club round indiananationals posted about:
for melt. Or you can have a krugerrand for spot + $30.
Which would you pick? The case against the poorly marked generic has already been presented: indianationals picked it up for $10--from someone who buys and sells coins professionally.
I'd much rather pay a small premium for a clearly marked, globally recognized piece. The premium is about 2%. I think it's worth it, and I'd say the same to a newbie.
--Severian the Lame
This was last show I attended. Dealer's want to buy what sells.
<< <i>Sell <1/3 on strength, buy <1/3 back on weakness. In this way you are increasing your ounces all the time without laying out additional funds. >>
Absolutely....
<< <i>I'd much rather pay a small premium for a clearly marked, globally recognized piece. The premium is about 2%. I think it's worth it, and I'd say the same to a newbie. >>
Weiss, you hit the nail on the head with the above statement
I'd rather, and do, for that very reason.
I knew it would happen.