View Full Version : Gold or Silver Coins - (The economy is failing...)
I see all of these ads on TV about buying gold by the ounce and such. But a chunk of gold wouldn't be useful in an economic meltdown, nor stocks in them.
I want small gold coins, and have no idea where the best place is to buy them for what they are actually worth.
EDIT: Some people suggest Silver instead, more info for the n00b in distress would be great.
Any help would be appreciated, but please leave the politics at the door.
Tomsawyer
02-17-2009, 11:49 AM
United States Rare Coin & Bullion Reserve has 1/10 GAE for $84...problem is the shipping is $31 regardless if you buy 1 or 10. If you buy 10 you would essentially be buying gold way below spot.
I bought 3 and it gave me an average of $94 shipped. Gold under spot ;)
As Baggerman reported on a different thread the ad came from the American Legion magazine ad (Feb. '09) for up to 10 $5GAE for $84 each with ad code: AL23-84,
Phone number 800-514-9034
According to another poster, they are now asking for $114, limit of 1.
slickms
02-17-2009, 01:17 PM
Last time i bought I had to pay close to 900 dollars for a 1 ounce coin. I'll buy more if I can find cheaper..Subscribing to this thread.
United States Rare Coin & Bullion Reserve has 1/10 GAE for $84...problem is the shipping is $31 regardless if you buy 1 or 10. If you buy 10 you would essentially be buying gold way below spot.
I bought 3 and it gave me an average of $94 shipped. Gold under spot ;)
As Baggerman reported on a different thread the ad came from the American Legion magazine ad (Feb. '09) for up to 10 $5GAE for $84 each with ad code: AL23-84,
Phone number 800-514-9034
I called several times, goes to the VM "of the desk of Robin Holloway".
The VM seems to imply they are this: http://www.usmoneyreserve.com/gol...t_cost.php
I called them at the number on that site, they told me too that it's$114, limit 1 per household. They tried to sell me bigger stuff of course.
pinup22
02-19-2009, 12:43 AM
Also keep an eye on Silver Bullion, the sister to Gold.
www.scottsdalesilver.com - easy place to buy bullion from.
Good luck hunting!
Libertarian
02-19-2009, 04:45 AM
A few more buying options:
APMEX (http://www.apmex.com/Category/503/Silver.aspx)
Tulving (large orders only) (http://www.tulving.com/)
There are also many reputable sellers on Ebay and you can find good bargains if you do some searching. I also agree that silver is a better value now. The historical silver/gold ratio over the past 200 years is around 16:1 (16 ounces of silver to 1 ounce of gold). Prices today are closer to 70:1 which indicates silver is very undervalued here...especially when you consider it is consumed by dozens of modern industries, whereas gold is simply hoarded. Even if the ratio returns to something halfway like 40:1, silver should be at $25/oz today.
Gold is always good when paper currencies are crashing, but I think silver has the potential to rise much further.
SABRETOOTH
02-19-2009, 06:24 AM
I see all of these ads on TV about buying gold by the ounce and such. But a chunk of gold wouldn't be useful in an economic meltdown, nor stocks in them.
I want small gold coins, and have no idea where the best place is to buy them for what they are actually worth.
Any help would be appreciated, but please leave the politics at the door.
You see more of these ads everytime gold goes over $900
I would wait right now. Gold went up to 1000 a few months ago... soon dropped back in the 700-750 range before going back again.. would wait for it to see saw down..
A few more buying options:
APMEX (http://www.apmex.com/Category/503/Silver.aspx)
Tulving (large orders only) (http://www.tulving.com/)
There are also many reputable sellers on Ebay and you can find good bargains if you do some searching. I also agree that silver is a better value now. The historical silver/gold ratio over the past 200 years is around 16:1 (16 ounces of silver to 1 ounce of gold). Prices today are closer to 70:1 which indicates silver is very undervalued here...especially when you consider it is consumed by dozens of modern industries, whereas gold is simply hoarded. Even if the ratio returns to something halfway like 40:1, silver should be at $25/oz today.
Gold is always good when paper currencies are crashing, but I think silver has the potential to rise much further.
Anyone else concur?
Makes sense to me basically, suggestions on where to buy silver coinage then? :)
STLUCIELADY
02-19-2009, 10:21 AM
Anyone else concur?
Makes sense to me basically, suggestions on where to buy silver coinage then? :)
If you read some of the stories from countries where the currency has collapsed in the past they have great insight. Most said that junk gold rings and silver coins had the most impact when you needed to buy groceries and clothes etc. Silver bars are good for other larger items. Gold is difficult in coins and bars as it is worth too much to buy most items. It is more for savings. You can go to most coin shops and buy bags of junk gold or silver coins. You can also buy small silver bars that would be good. We have several of the big and small bars of silver that we just keep. Over the last 2 years, it has actually been our best investment. Sad really...... I was told by the owner of the shop that you do not want to buy more than $5-7000 at a time with cash. IDK
Can someone please suggest where to buy silver coins then? This is new to me, suggestions on which to buy and where would be great.
PhucilliJerry
02-20-2009, 09:44 AM
Anyone?
Looks like posts 6 and 7 have links, not sure of the validity or reputation of those sites, but it's a start. I might buy myself some silver in case our government digs us deeper into this mess...............
Wegotthewhip
02-21-2009, 09:28 AM
Kitco.com (check out the forum boards too)
Apmex.com (great place to order from)
bullion.nwtmint.com (somewhat cheap prices but takes longer to get)
Your local coin shop (check your yellow book)