Gold advice.

GOWYO

Gents. I'm know I'm small potatoes here but I'm looking to invest about an ounce worth of funds into gold. I'm looking for any and all advice. New or old gold. Coins or bars. One ounce coin or fractional. This will be a long term investment. Thanks. Feel free to PM me if you'd like. Let me know if this is in the wrong forum too.

nibanny

This is the right forum.

One ounce of gold for long term investment? Buy what you like!
I'd go with a St. Gaudens (which is a little less than 1 oz).
If you want to pay a little premium, buy few fractionals. Variety is always good and more fun!

GOWYO

<< <i>This is the right forum.

One ounce of gold for long term investment? Buy what you like!
I'd go with a St. Gaudens (which is a little less than 1 oz).
If you want to pay a little premium, buy few fractionals. Variety is always good and more fun! >>



Recommend me a place to look for a St. Gaudens? Year? Graded?

derryb

We are all small potatos, but with big dreams.

For a gold investment, I always recommend $50 gold eagles or gold buffalos in MS69 by either PCGS or NGC. To me, it's the best bang for the buck to have a gold coin certified as authentic. There's also a bigger market for them when it's time to sell.

Check out the master list in the first post of this thread for sources and good info.

nibanny

<< <i>

<< <i>This is the right forum.

One ounce of gold for long term investment? Buy what you like!
I'd go with a St. Gaudens (which is a little less than 1 oz).
If you want to pay a little premium, buy few fractionals. Variety is always good and more fun! >>



Recommend me a place to look for a St. Gaudens? Year? Graded? >>



I don't do graded coins, sorry.
Let's see if we can have an update on the market from Roadrunner.
I bought mine here on the BST Forum.

DrBuster

For just an ounce, I'd watch the online sites for a bit and see what comes up for a ~$30 over sale. Maples, eagles, kangaroos, even bars, I see those on sale frequently for like +$29. Apmex has gold buffalos for +$49 right now. Tough to beat something like that if you can't find local.

Silveraholic

I prefer the 1 oz American gold eagle. As far as were to buy I've had good luck with Provident metals, APMEX, and JM bullion. You can go raw or graded. If you go graded get an ms69, I wouldn't pay extra for first strike or ms70. As far as year since these are modern bullion coins with low premiums over spot it doesn't really matter. There aren't any bullion AGE's that are rare.

Timbuk3

You came to the right place.
Good luck in your search.

GOWYO

<< <i>You came to the right place.
Good luck in your search. >>



Thanks for all the advice gentlemen. If a guy was looking to stack gold for a possible bartering tool if/when the economy collapses I spose fractionals are the only way to go correct?

derryb

<< <i>

<< <i>You came to the right place.
Good luck in your search. >>



Thanks for all the advice gentlemen. If a guy was looking to stack gold for a possible bartering tool if/when the economy collapses I spose fractionals are the only way to go correct? >>


Your best bet in that scenario is to have pre-65 US silver coins. Your primary purpose in stacking should be potential profit and/or long term protection of the value (from inflation)of your savings.

DorkGirl

It was way easier for me to buy it 1/10th at a time. There is a premium for doing it that way, but there will also be a premium on it when you sell. There are so many different ones to choose from.....

jmski52

Welcome! You said long term. So, I recommend (4) 1/4 oz. American Gold Eagles, and also get a Mint Tube for storage. It holds 40 coins. You'll know what to do.

roadrunner

At $1550 or so I like hand selected MS64 Saints at only a $100 premium to MS61's. That spread could widen a lot if gold gets hotter in 2014. They carry a 19% premium to spot which is historically quite small.
During the 2009 run to $1225 gold they sold for an 80% premium at $2,000+. Not saying they will ever get close to those premiums again, but premiums to spot have been destroyed over the past 2-8 years. Compare
that to the 300% premium (4X spot) that a common MS64 Morgan brings. I like the bang for the buck. And if you can pick a nice enough 64 of CAC quality for little or no premium...then you're in the black from the start
as CAC 64's often fetch $100-$200 premiums. Buy the nicest 64 you can find that's under $1600 and that should work. Pay attention to original surfaces and color, no rub, and no obvious hits, as CAC likes all that.

I also like the speculative play of 1 oz proof AGE's with ALL the original mint packaging as they are acceptable in govt approved IRA's. In late 2009 at $1225 gold those were run up to $2400-$2600 each...as high as the MS65
Saints. Today the buy price is around +$280 to spot (under $1600). If you can find one around that level (or lower) I'd go for it. I'd much rather pay only $75-$125 over spot but as the price of gold dropped in 2013, the
premiums on these rose. The guys that were into these for $1700-$1800 each were not about to let them go for $75-$100 over spot. I like the 63-65 Saints and the proof AGE's as they can be easily promoted. The IRA
applicability of the proof AGE's makes them even more promotable. I'd avoid the first couple of years if possible (1986, 1987) as they made a ton of them the first couple of years. The 1990's and later are all much smaller
mintages. Don't buy these slabbed as they cannot be placed in IRAs as such.....unless you can get them for $150 or less over spot.

If this 1 oz of gold is going to be all you ever do, having just one big 1 oz coin doesn't have any divisibility. If you want this to also double as an emergency "shtf" stash, then maybe someting like circ $5 Libs or 1/10th oz AGE's
makes more sense. And if that was the case, I'd probably go with a small bag of 90% US silver in dimes, quarters, and some halves. In the long run (ie years), if gold heads to $3,000-$5,000 (in my dreams) any premiums for
gold coins bought today will probably evaporate to within 0-10%. Imagine buying say a MS64 $1913-s Saint for $4K to $5K today and in 5 years it's still worth about the same at $3,000 gold. I like derryb's idea of even getting
your common unc AGE's and Buff's slabbed for authenticity. A US mint issued proof AGE with all the mint packaging is pretty hard to fake. I've never heard of a fake proof AGE being placed in mint packaging.

GOWYO

<< <i>At $1550 or so I like hand selected MS64 Saints at only a $100 premium to MS61's. That spread could widen a lot if gold gets hotter in 2014. They carry a 19% premium to spot which is historically quite small.
During the 2009 run to $1225 gold they sold for an 80% premium at $2,000+. Not saying they will ever get close to those premiums again, but premiums to spot have been destroyed over the past 2-8 years. Compare
that to the 300% premium (4X spot) that a common MS64 Morgan brings. I like the bang for the buck. And if you can pick a nice enough 64 of CAC quality for little or no premium...then you're in the black from the start
as CAC 64's often fetch $100-$200 premiums. Buy the nicest 64 you can find that's under $1600 and that should work. Pay attention to original surfaces and color, no rub, and no obvious hits, as CAC likes all that.

I also like the speculative play of 1 oz proof AGE's with ALL the original mint packaging as they are acceptable in govt approved IRA's. In late 2009 at $1225 gold those were run up to $2400-$2600 each...as high as the MS65
Saints. Today the buy price is around +$280 to spot (under $1600). If you can find one around that level (or lower) I'd go for it. I'd much rather pay only $75-$125 over spot but as the price of gold dropped in 2013, the
premiums on these rose. The guys that were into these for $1700-$1800 each were not about to let them go for $75-$100 over spot. I like the 63-65 Saints and the proof AGE's as they can be easily promoted. The IRA
applicability of the proof AGE's makes them even more promotable. I'd avoid the first couple of years if possible (1986, 1987) as they made a ton of them the first couple of years. The 1990's and later are all much smaller
mintages. Don't buy these slabbed as they cannot be placed in IRAs as such.....unless you can get them for $150 or less over spot.

If this 1 oz of gold is going to be all you ever do, having just one big 1 oz coin doesn't have any divisibility. If you want this to also double as an emergency "shtf" stash, then maybe someting like circ $5 Libs or 1/10th oz AGE's
makes more sense. And if that was the case, I'd probably go with a small bag of 90% US silver in dimes, quarters, and some halves. In the long run (ie years), if gold heads to $3,000-$5,000 (in my dreams) any premiums for
gold coins bought today will probably evaporate to within 0-10%. Imagine buying say a MS64 $1913-s Saint for $4K to $5K today and in 5 years it's still worth about the same at $3,000 gold. I like derryb's idea of even getting
your common unc AGE's and Buff's slabbed for authenticity. A US mint issued proof AGE with all the mint packaging is pretty hard to fake. I've never heard of a fake proof AGE being placed in mint packaging. >>



Thank you very much for that insight. So it's my understanding though that once gold is stabbed it's not IRA eligible? So why the last few sentences? I'm new to all of this just trying to gleam some insight from much wiser and wealthier men

derryb

bullion (including coins) is only IRA eligible when it goes directly from your bullion dealer (if he participates with an IRA custodian) directly to the IRA custodian (your representative) for storage. An IRA bullion account holder never sees or touches the bullion going into his account. He only specifies what bullion and pays for it. Think long and hard about an IRA bullion account. Too many limitations and expenses. If you want metal in an IRA consider an equity (stock) account with someone like Scottrade and funding it with cash within your yearly IRA contribution limits (or a rollover or conversion from a 401k) and then purchasing miners, mining indexes or PM ETFs. Advantage of the IRA equity account is you can periodically sell, hold the cash and then buy again as prices fluctuate without it ever being considered a withdrawal. With a bullion IRA you buy, hold long term and then cash out when eligible to withdraw. Lots can happen during the wait, including price swings that could have been used to your advantage trading in an IRA equity account.

Silveraholic

<< <i>At $1550 or so I like hand selected MS64 Saints at only a $100 premium to MS61's. That spread could widen a lot if gold gets hotter in 2014. They carry a 19% premium to spot which is historically quite small.
During the 2009 run to $1225 gold they sold for an 80% premium at $2,000+. Not saying they will ever get close to those premiums again, but premiums to spot have been destroyed over the past 2-8 years. Compare
that to the 300% premium (4X spot) that a common MS64 Morgan brings. I like the bang for the buck. And if you can pick a nice enough 64 of CAC quality for little or no premium...then you're in the black from the start
as CAC 64's often fetch $100-$200 premiums. Buy the nicest 64 you can find that's under $1600 and that should work. Pay attention to original surfaces and color, no rub, and no obvious hits, as CAC likes all that.

I also like the speculative play of 1 oz proof AGE's with ALL the original mint packaging as they are acceptable in govt approved IRA's. In late 2009 at $1225 gold those were run up to $2400-$2600 each...as high as the MS65
Saints. Today the buy price is around +$280 to spot (under $1600). If you can find one around that level (or lower) I'd go for it. I'd much rather pay only $75-$125 over spot but as the price of gold dropped in 2013, the
premiums on these rose. The guys that were into these for $1700-$1800 each were not about to let them go for $75-$100 over spot. I like the 63-65 Saints and the proof AGE's as they can be easily promoted. The IRA
applicability of the proof AGE's makes them even more promotable. I'd avoid the first couple of years if possible (1986, 1987) as they made a ton of them the first couple of years. The 1990's and later are all much smaller
mintages. Don't buy these slabbed as they cannot be placed in IRAs as such.....unless you can get them for $150 or less over spot.

If this 1 oz of gold is going to be all you ever do, having just one big 1 oz coin doesn't have any divisibility. If you want this to also double as an emergency "shtf" stash, then maybe someting like circ $5 Libs or 1/10th oz AGE's
makes more sense. And if that was the case, I'd probably go with a small bag of 90% US silver in dimes, quarters, and some halves. In the long run (ie years), if gold heads to $3,000-$5,000 (in my dreams) any premiums for
gold coins bought today will probably evaporate to within 0-10%. Imagine buying say a MS64 $1913-s Saint for $4K to $5K today and in 5 years it's still worth about the same at $3,000 gold. I like derryb's idea of even getting
your common unc AGE's and Buff's slabbed for authenticity. A US mint issued proof AGE with all the mint packaging is pretty hard to fake. I've never heard of a fake proof AGE being placed in mint packaging. >>



I like this answer much better than mine. I normally stick with modern gold but the idea about the saints makes sense.

roadrunner

Thank you very much for that insight. So it's my understanding though that once gold is stabbed it's not IRA eligible? So why the last few sentences? I'm new to all of this just trying to gleam some insight from much wiser and wealthier men

Bring IRA eligible is just part of the equation. Other factors could make something outperform in different ways. Slabbed MS63/64 $10 libs and Indians are at 6 year lows and certainly not IRA eligible. But they've been promoted in the past. I like their current potential even if they carry a 50%-100% premium to spot gold. Any slabbed proof 1 oz AGE is not IRA eligible as it has to be in the orig mint packaging. But, you can put slabbed MS69 AGE's into an IRA....doesn't matter if the coin is raw or slabbed...it's still the same generic coin. This discussion only references the demand from IRA accounts. I'm not recommending you put any bullion into an IRA. In fact, I don't recommend doing that.

jmski52

I'm not recommending you put any bullion into an IRA. In fact, I don't recommend doing that.

I definitely agree. Putting gold bullion into an IRA borders on being a bad idea.

tneig

Doesn't have to be gold. Silver is a good deal at around $21.50 an oz. You could mix in some new American Silver Eagles or a nice
variety and still be good investment wise if you buy correctly.
Plus it could be a nice collection to have, all within the money specified.

TwoSides2aCoin

Buy in and don't hesitate
I sometimes tire of hearing my friends say " I should buy gold". This has been going on for 14 years for me, thus far ….and they're still saying " I should". A few of the more astute have moved to "stage 2 " in their development.

That's the "I'm almost thinking about it" stage.

Next stage is : "I am thinking about it".

By that time, the final stage hits. And that's when I hear,… "oh it's too high now, I'm going to wait for it to drop".

Same with a lot of guys who are "thinking" about selling. The other day a young man came in with 70 ounces of silver to sell. I offered about $1500. He pulled out his old invoices (not mine) and said, "No, I need much more. I bought this between $28 and $32, and that's what I have into it. Then he kind of got an attitude and said, " and I should not have listened to my dad's advice". That's when I asked : "What is your dad's advice ? " He says " To buy " . I smiled and said, "Well then take your dad's advice".

Funny world. A small world, too. Found out later that I went to school with his dad.

Here is a chart for historical purposes and a lesson. Purchased a shop in 2009. Practically begged my partners in other business to JUMP hard and fast with me. They nearly turned a blind eye, so I turned to my financial backers. Last year or two hurt, but…. assess this and ask yourself "How much advice do I need ? " Add a little, you won't be disappointed.

Just buy in. There is only one entry point. But one warning: "It is fun". Then it is "swim" and ride the waves.

goldbug15

Hi Gowyo,

Any investment in gold (small or large) is worth taking some time to think over and figure out what your strategy is. It's great to ask for advice, but I would first recommend considering what your objectives are.

Are you looking strictly for bullion purposes? Do you want something government minted and guaranteed? Are you interested in numismatic value, and if so, how much do you know about coins? What sort of premium are you willing to pay?

These are a few questions you should ask yourself before making a purchase. Once you find the answers to these, it should narrow down your selection quite a bit.

Hope this helps, and good luck.

GOWYO

<< <i>Hi Gowyo,

Any investment in gold (small or large) is worth taking some time to think over and figure out what your strategy is. It's great to ask for advice, but I would first recommend considering what your objectives are.

Are you looking strictly for bullion purposes? Do you want something government minted and guaranteed? Are you interested in numismatic value, and if so, how much do you know about coins? What sort of premium are you willing to pay?

These are a few questions you should ask yourself before making a purchase. Once you find the answers to these, it should narrow down your selection quite a bit.

Hope this helps, and good luck. >>



Thanks for the advice. Here's my thoughts. I think it's wise to invest in precious metals because I think further inflation is just around the corner. I think if you can get gold and pay a little more to have some numismatic value that makes the most sense. I guess I'm a complete newb when it comes to coins. We have no coin shops here so cherry picking a nice St. Gaudens as roadrunner suggested isn't very feasible. I wish it were. Although im very greatful for his and all of your insight. Maybe you can offer some advice with this knowledge? Thanks

tneig

. Read everything here and keep up on it.
. Check www.apmex.com and see the relative prices and things they have to offer. Check the ebay apmex deals. Keep an eye out here for notice of apmex deals.
. Go to www.conflation.com and look around, esp at silver coinage.

dontippet

Personally, I would go with one ounce american gold eagle coin. Goldmart.com is typically one of the better places in terms of price. If you have the 8% ebay bonus right now, there's a chance that you could buy it from APMEX on ebay for under spot value which is a tremendous value since these coins typically have a 6-8% premium on them.