How to Capitalize on Gold Increase

malachi555 · October 25, 2007 10:57AM

How do members here plan on capitalizing on recent gains in gold? Using eBay to sell off any gold will reduce the reduce an 18% gain to at least 12% Is there a better way to move gold?

PerryHall · October 25, 2007 11:03AM

Should be easy to sell on the BS&T forum. Also, the spread on gold is fairly narrow and there are many dealers that make a two way market.

ricko · October 25, 2007 11:35AM

At this time, I do NOT plan on selling my gold... there is more on the plus side in the near future. Cheers, RickO

roadrunner · October 25, 2007 12:59PM

Gold is insurance. And you won't get rich holding a few ounces and selling it for 20-50% more down the road. There is much more leverage in the gold junior and senior miners, with the associated higher risk of course. And in some ways you are just holding paper equities as well. If you have the gold now you can always sell it for at least spot. And if you have AGE's 1 ounce coins, they sell for at least a few % above spot. In gold coins I feel MS 65 Saints still offer a leverage potential but so far this year they have lagged the lesser grades. Still, I feel at some point they will ratchet up a few hundred bucks each on a $50 gold move. 4 to 1 leverage if you will.

If one wants to sell gold on ebay and give up 3% in fees and possibly running into a scam, and then possibly another 3% to paypal, be my guest. Seems like the dumbest thing imo for gold sellers.

roadrunner

mrearlygold · October 25, 2007 1:49PM

Why would you want to sell gold now?

Think there's renewed confidence in the dollar and administration?

malachi555 · October 25, 2007 1:58PM

<< Why would you want to sell gold now?

Think there's renewed confidence in the dollar and administration?

>>

I'm not planning on selling yet. I am just trying to learn from members here who've been doing this a lot longer. It seems to me that the best way to invest would have been by buying shares in an ETF rather than actual bullion.

Joflax · October 25, 2007 2:04PM

<< 

<< Why would you want to sell gold now?

Think there's renewed confidence in the dollar and administration?

>>

I'm not planning on selling yet. I am just trying to learn from members here who've been doing this a lot longer. It seems to me that the best way to invest would have been by buying shares in an ETF rather than actual bullion. >>

ETFs work great , easy to buy and sell for the price of a stock trade in seconds as opposed to waiting forever on Ebay or all the work required finding a dealer. Great for use inside an IRA where the gains are tax deferred. The doomsday posters dont trust them though...paper gold/silver as opposed to physical gold /silver

mrearlygold · October 25, 2007 2:15PM

<< 

<< Why would you want to sell gold now?

Think there's renewed confidence in the dollar and administration?

>>

I'm not planning on selling yet. I am just trying to learn from members here who've been doing this a lot longer. It seems to me that the best way to invest would have been by buying shares in an ETF rather than actual bullion. >>

What's an ETF ?

Gold is on the same page as pork bellies, frozen orange juice etc. So buying and holding gold seems to be counter to how the commodity is actually traded.

I guess

mike92694 · October 25, 2007 2:15PM

<< 

<< Why would you want to sell gold now?

Think there's renewed confidence in the dollar and administration?

>>

I'm not planning on selling yet. I am just trying to learn from members here who've been doing this a lot longer. It seems to me that the best way to invest would have been by buying shares in an ETF rather than actual bullion. >>

ETFs are worthless. In the end, gold is worth all and ETFs are just a bunch of bull. You can print all the ETFs you want, but what happens when it comes time to cash in? Can you cash in for real gold?

Speaking of which, we should have ETFs for coins. Instead of purchasing actual coins, why don't we have ETFs for coins. Instead of everybody buying rare coins, we can have ETFs for such. How about let's say 2,000 ETFs for 1916-D Mercury Dimes.

Joflax · October 25, 2007 2:24PM

<< 

<< 

<< Why would you want to sell gold now?

Think there's renewed confidence in the dollar and administration?

>>

I'm not planning on selling yet. I am just trying to learn from members here who've been doing this a lot longer. It seems to me that the best way to invest would have been by buying shares in an ETF rather than actual bullion. >>

ETFs are worthless. In the end, gold is worth all and ETFs are just a bunch of bull. You can print all the ETFs you want, but what happens when it comes time to cash in? Can you cash in for real gold?

Speaking of which, we should have ETFs for coins. Instead of purchasing actual coins, why don't we have ETFs for coins. Instead of everybody buying rare coins, we can have ETFs for such. How about let's say 2,000 ETFs for 1916-D Mercury Dimes. >>

The idea was raised recently on these boards and the same naysayers came up with the trust issue. Who would hold the coins and how can we trust them? You could easily have an ETF that tracks the pcgs3000.

Konahead · October 25, 2007 2:32PM

I think it is still going up, I will sit and watch for now

LALASD4 · October 25, 2007 2:41PM

Tough to make money with gold, the spread is to wide if you want to cash in quick.

malachi555 · October 25, 2007 2:53PM

<< 

ETFs are worthless. In the end, gold is worth all and ETFs are just a bunch of bull. You can print all the ETFs you want, but what happens when it comes time to cash in? Can you cash in for real gold?

Speaking of which, we should have ETFs for coins. Instead of purchasing actual coins, why don't we have ETFs for coins. Instead of everybody buying rare coins, we can have ETFs for such. How about let's say 2,000 ETFs for 1916-D Mercury Dimes. >>

Either the second paragraph is a joke, or you're being really inconsistent here

malachi555 · October 25, 2007 2:56PM

<< ETFs are worthless. In the end, gold is worth all and ETFs are just a bunch of bull. You can print all the ETFs you want, but what happens when it comes time to cash in? Can you cash in for real gold? >>

Besides, this was my point here. How do you best "Cash in?" Dealers won't pay above spot, eBay rips you off. You can't exactly take these to the bank.

mike92694 · October 25, 2007 2:57PM

i was being sarcastic

PQMorgans · October 25, 2007 3:01PM

<< Why would you want to sell gold now? >>

Because I recently came down with severe case of Bust Fever!!!!

mike92694 · October 25, 2007 3:01PM

<< 

<< ETFs are worthless. In the end, gold is worth all and ETFs are just a bunch of bull. You can print all the ETFs you want, but what happens when it comes time to cash in? Can you cash in for real gold? >>

Besides, this was my point here. How do you best "Cash in?" Dealers won't pay above spot, eBay rips you off. You can't exactly take these to the bank. >>

No matter what, you rarely get "spot" price for anything anyway if you're not a dealer and don't make the rules. When you buy stocks, you pay ask, when you sell stocks, you get bid. You pay commissions also.

Same as with selling basic generic quality slabbed PCGS coins to dealers who pay 10% back of bid ... You have to wait for the right time so that the bid price is sufficient.

Mike

renman95 · October 25, 2007 3:13PM

<< 

<< Why would you want to sell gold now? >>

Because I recently came down with severe case of Bust Fever!!!!

>>

Hey, with the dollar, peso, and loonie being converted to Ameros why would you sell now. Also, with another Clint in the office paying for millions of programs we can't afford the dollar is domed along with the US "market." Currently our devaluation isn't so covert, next we'll switch to a more useless currency. It's a conspiracy I tell ya! Must go to sleep now.

Ren

Griv · October 25, 2007 3:23PM

The first question is what you want to cash in as each basic form of gold has its own target markets. There is raw gold, bar gold, various gold coins, jewelry gold and bullion gold. Then there are subcatagories such as 10k, 14k, graded, non-graded, blah, blah, blah.

So, what do you have?

malachi555 · October 25, 2007 3:42PM

<< The first question is what you want to cash in as each basic form of gold has its own target markets. There is raw gold, bar gold, various gold coins, jewelry gold and bullion gold. Then there are subcatagories such as 10k, 14k, graded, non-graded, blah, blah, blah.

So, what do you have?

>>

Mostly slabbed AGE's and Buffalo's (all NGC or PCGS 70's). A single common date slabbed Saint

Edited to Add: These were acquired mostly in July and early August this year. Rarely did I pay much more than spot. I spent several weeks looking for auctions that were closing at poor times.

bluespaceant · October 25, 2007 4:50PM

RotatedRainbows · October 25, 2007 11:45PM

<< 

<< Why would you want to sell gold now? >>

Because I recently came down with severe case of Bust Fever!!!!

>>

Oh Boy, you are in trouble now!!!!!!!!!!!
Where is that song, "Another Bites The Dust".
Better hope you win the lottery because there are more nice Busties around then you can shake a checkbook at!!

ricko · October 26, 2007 12:01AM

I do believe I see a feeding frenzy on a banquet table loaded with paranoia..... No, I do not believe in burying one's head in the sand, but neither will I run around yelling the sky is falling. Gold will always have a market... and a good one at that. Right now, and for the foreseeable future, it will continue to gain. No one can predict the top... pick your point and sell - do not look back. Confiscation? Ridiculoius.
And I still see (here on the boards) the stupid pursuit of the fictitious Amero... what idiots. Relax, play it smart, play your own game. Cheers, RickO

TwoSides2aCoin · October 26, 2007 12:05AM

How much for the common date Saint ? Is it in a PCGS holder and does it have "funky toning" ?

malachi555 · October 26, 2007 12:58AM

<< How much for the common date Saint ? Is it in a PCGS holder and does it have "funky toning" ? >>

Ha! Its not for sale. Anyway, most of the comments here have completely missed the point of the original question, namely: how do you best unload what gold you have without making the middle man richer.

paigowjohnny · October 26, 2007 1:06AM

I have finally been able to sell off a couple 1/2 oz. gold Eagle proofs that I bought from the mint 10 years ago. I NEVER thought I'd see my money back on those, let alone a bit of profit....sold them on eBay.

I've never been a fan of gold as an investment, and for the last year or two, I've been wrong. I'd recommend if you have a decent amount of "junk gold"...bullion as opposed to numismatic gold....that you sell a bit of it now/soon.

Coinhog · October 26, 2007 1:13AM

I purchased a ton of the early modern gold commemoratives over the last 3-4 years with an average buy price of about $100-110 on ebay. I think I will start selling them at the rate of 1-2 per week over the next several months on ebay. I just won't accept paypal on gold bullion. I'm thinking they will sell for for between $175-200. Hopefully should net somewhere around a 50% return. Not too bad for sticking my discretionary printed paper government backed fiat money into tangible, cold, hard, pretty golden asset money.

pf70collector · October 26, 2007 2:06AM

Yep the dollar's purchasing power is decreasing daily. I could buy two 64 oz orange juices for $5.00 last year now the lowest I see it on sale is 2 for $6.00. Maybe I should be buying orange juice futures.

LALASD4 · October 26, 2007 2:15AM

<< 

<< ETFs are worthless. In the end, gold is worth all and ETFs are just a bunch of bull. You can print all the ETFs you want, but what happens when it comes time to cash in? Can you cash in for real gold? >>

Take a look at the prospectus for any gold ETF and you will see that shares can be redeemed for gold bullion; and gold bullion can also be used to create shares. The very fact that you could redeem the shares for gold bullion is what makes the shares valuable. You usually have to redeem the shares in "baskets." For GLD (a gold ETF) a basket consists of 100,000 shares, or the equivalent of 10,000 ounces of gold. If the shares start selling for less than the spot price of gold, you will see major players in the gold market buying the shares and redeeming them for bullion which they will then sell on the spot market. If the shares start selling for more than the spot price of gold, you will see them buying bullion and converting them to shares of GLD which they will then sell for cash. This is what keeps the shares of GLD very close to the spot price of gold. Millions of shares of GLD are traded every day very close to the spot price of gold.

Of course if society collapses and descends into anarchy it won't really matter if you own 0, 1, or 1,000,000 shares of GLD.

If society collapses and descends into anarchy, I'll be trading rolls of toilet paper for gold eagles if you can find me. I prefer PCGS slabbed gold eagles with a grade of MS69 or better. >>

If that ever happens, I will be loading up on ammo. , food and water.

Faust · October 26, 2007 4:25AM

Has anybody had any experience with selling to Kitco, Tulving or other online bullion dealers? Kitco's buy price today on the 1 oz. AGE is listed at $781. Seems like that's a better way to sell gold than Ebay.

jmski52 · October 26, 2007 4:38AM

I've bought and sold with Tulving. In my opinion, the prices are fair and the service is very good.

VicThrust · October 26, 2007 5:40AM

<< How do members here plan on capitalizing on recent gains in gold? Using eBay to sell off any gold will reduce the reduce an 18% gain to at least 12% Is there a better way to move gold? >>

Ebay in combination with Paypal will reduce your take from 18% to less than 8%. Your just making Ebay rich. There are better ways to sell.

Joflax · October 26, 2007 6:12AM

<< I do believe I see a feeding frenzy on a banquet table loaded with paranoia..... No, I do not believe in burying one's head in the sand, but neither will I run around yelling the sky is falling. Gold will always have a market... and a good one at that. Right now, and for the foreseeable future, it will continue to gain. No one can predict the top... pick your point and sell - do not look back. Confiscation? Ridiculoius.
And I still see (here on the boards) the stupid pursuit of the fictitious Amero... what idiots. Relax, play it smart, play your own game. Cheers, RickO >>

Good advice , my sell orders are in , gold at $998 and silver at $25....am enjoying the ride these last few weeks

renman95 · October 26, 2007 6:25AM

We are nowhere near the insanity and hysteria of 1979-1980. Plus there are differences, interest rates for one. And, adjusted for inflation gold is cheap. It needs to be around $2,400 to be adjusted in todays' dollars. So I think there's alot more doomsday left in this scenario. I like to sell (a little at a time) when everyone is on the bandwagon trying to predict the unpredictable.

Ren

aficionado · October 26, 2007 10:38AM

<< Has anybody had any experience with selling to Kitco, Tulving or other online bullion dealers? Kitco's buy price today on the 1 oz. AGE is listed at $781. Seems like that's a better way to sell gold than Ebay. >>

If you looking for spot, then these might be the best.

If you have a more 'collectable coin', auction.

If you are looking to purchase NOW to ride a wave to $1000 a then sell, buy the ETF - "GLD" on the stock market.

derryb · October 27, 2007 2:31PM

if you want to invest, use Kitco's gold pool account. Easy buy, easy sell.
Link

How to Capitalize on Gold Increase

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