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To: Rusty0604

Can someone advise me on:

Where do you buy gold?

How do you know it’s real?

How do you know the price is right?

Is it always in coin form?

What’s the smallest “denomination”?


7 posted on 05/26/2010 6:59:35 PM PDT by Terry Mross
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To: Terry Mross

APMEX is reliable, they sell coins and bars.


9 posted on 05/26/2010 7:19:03 PM PDT by Rusty0604
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To: Terry Mross

Ditto on APMEX.com. I am satisfied with all of my purchases.


12 posted on 05/26/2010 8:32:52 PM PDT by PA Engineer (Liberate America from the occupation media.)
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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: Terry Mross

You might check with these guys
https://online.kitco.com/


14 posted on 05/27/2010 4:16:40 AM PDT by bert (K.E. N.P. +12 . Ostracize Democrats. There can be no Democrat friends.)
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