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To: Terry Mross; jiggyboy; Travis McGee; Lurker
Can someone advise me on: Where do you buy gold?

Camino Coin Company. You won't overpay; they sell a lot of gold and silver for only about 1-2% above spot price. (Basically, only about a 1-2% "markup").

How do you know it’s real?

Reputable dealer, Coins of traceable origin. The known fraud in the Gold Market has been Tungsten-cored 400-Ounce gold bars (400 troy ounces is standard for a "London Good Delvery" gold bar), not little 1-oz or 1/10-oz coins. (For obvious reasons -- if you're going to the trouble to smelt counterfeit bullion, you make 400 times as much by counterfeiting a big fat London Good Delivery gold bar, as you would a little 1-oz Krugerrand).

How do you know the price is right?

Compare your cost-per-ounce to the Spot Price quoted at Kitco. If you're only being charged about a 1 to 5% markup, you're doing fine.

Is it always in coin form?

No, but if you can afford to plunk down $500,000 for a 400-oz Bullion Bar, you should probably split it open to see if it's real. If you're just buying small coins, that's far less of a concern.

What’s the smallest “denomination”?

1-ounce coins are about $1,200 or $1,250 right now.
1/10-ounce coins would be around $125 or so.

But, if I may ask... why Gold?

You can buy 90%-pure Junk Silver (pre-1965 90%-silver US coinage) for about $17 or so per ounce right now. Each 90%-silver pre-1965 dime is now worth a little over $1.30 in silver content, and it's all Real; nobody bothers to counterfeit silver coinage, the price isn't high enough. (Yet).

There is only about 6 times as much silver above ground as there is gold, but gold costs 66 times as much. Don't get me wrong; I love both, and I trade both (you can trade GLD and SLV right in your online brokerage account, though I also suggest owning some actual physical coinage in your own secret hidey-hole); but if I could only choose one -- I'd buy Silver, not Gold.

JMHO and I hope that was helpful.

13 posted on 05/27/2010 3:31:55 AM PDT by Christian_Capitalist (Taxation over 10% is Tyranny -- 1 Samuel 8:17)
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To: Christian_Capitalist
I'd buy Silver, not Gold.

While I've got a very small amount of Au around, it's in very small denominations. 1/10 is the largest I've got. It's also available in grams FYI.

Now silver, that's another story. "Junk" coins are great. I've been collecting them for years. 1 oz rounds are very convenient. I've been buying a couple a month for the last decade or so.

Dollar cost averaged my 'price' is still pretty reasonable.

15 posted on 05/27/2010 5:53:42 AM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Christian_Capitalist

Thank you. I think I’ll buy a little of both.

How do you have it shipped?


19 posted on 05/27/2010 8:02:52 AM PDT by Terry Mross
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