Buying Gold? How to do it ....

[Tree Spud]

With the recent discussion about taking gold as a prize and the Stock market thread, thought it would be interesting to get into a theoretical discussion on gold as an investment.

I guess the big question would be ... How does one go about buying gold?

What are Pros/Cons?

What to look for, grades, form (coin, bar, other?) of purchase?

What is best investment grade/form?

Who/where to buy?

Some pretty knowledgeable folks on here so let's here your thoughts.

 

[Mortenson]

I'm sure it's a good topic but I'd be careful about talking about owning gold bars on a public forum!

 

[homerj]

If a person hypothetically owned a few hundred thousand dollars worth of physical gold, where would it be kept? Gold is pretty heavy

 

[Tree Spud]

I'm sure it's a good topic but I'd be careful about talking about owning gold bars on a public forum!

It's just a theoretical discussion, like how to grow big antlers ... always dreaming

 

[Tree Spud]

If a person hypothetically owned a few hundred thousand dollars worth of physical gold, where would it be kept? Gold is pretty heavy

Yep, that would be an issue!

 

[homerj]

Well, I just searched how much a million in gold weighs. Turns out not that much. About 27 lbs

 

[T-Max]

If a person hypothetically owned a few hundred thousand dollars worth of physical gold, where would it be kept? Gold is pretty heavy

You looking for grid coordinates?!

 

[Electrodigical]

 

[b116757]

I don’t really fool with precious metals I have a small amount of silver bars I bought in high school after the precious metals price collapse after the last high inflation period we had.

 

[FarmerDan]

I'm sure it's a good topic but I'd be careful about talking about owning gold bars on a public forum!

Or about habitat, hunting, and owning firearms? I think I am safe! I wish I could justify owning a small amount of physical gold but there are risks that, I think, are difficult to overcome from holding it. I will admit to having a small amount in the event the whole place blows up. And here I assume it would continue to be a store of value. Silver is easier to own for reason of my own I won't get into.

I do hold a large amount of dollars invested in gold ETF's and, occasionally will buy and sell shares of gold mining stocks - companies that mine gold.

My favorite investment vehicle is Sprout Physical Gold Trust. They own physical gold and you and I can buy shares of the trust.

 

[KY wild]

I don't know if I have ever seen a gold bar in private hands but I do know several people who collect gold coins as an investment, they are not coin collectors they only buy the gold coins when the spot price of gold goes low. I know one guy who has all 4 legs of his kitchen table full of gold coins

 

[chucker66]

If your worried about have gold should the SHTF, lead is probably going to be better to have on hand, if you know what I mean.

 

[KY wild]

I'm sure it's a good topic but I'd be careful about talking about owning gold bars on a public forum!

Why, is owning gold illegal or something? I assume you could buy gold bars perfectly legal, pawn shop melting down old gold and selling by the ounce. I would not mind to buy a $20,000 bar as a diversification and feel like it would be on the up and up

 

[homerj]

Why, is owning gold illegal or something? I assume you could buy gold bars perfectly legal, pawn shop melting down old gold and selling by the ounce. I would not mind to buy a $20,000 bar as a diversification and feel like it would be on the up and up

Probably more along the lines of making yourself a target for theft. Nobody needs to know what anybody has around that's valuable

 

[b116757]

I’m always on the lookout for cheap lead or a combination of copper and lead.

 

[bwoods11]

I store some gold in a fire proof safe. I also have silver. Not that much … to even register 1% of my portfolio.

I do have a gold stock (Barrick Gold) that pays a decent dividend and it’s went up about $6-7 a share since I bought the stock .

 

[The Fishman]

Costco has been selling gold bars for around a year.

https://www.costco.com/1-oz-gold-bar-pamp-suisse-lady-fortuna-veriscan-new-in-assay.product.4000186760.html

 

[buckdeer1]

There are several places that sell gold and silver ingots,I don't much good of having someone holding the gold I own if the country goes down the tubes

 

[Buckly]

I don’t see the advantage to have the physical bar in hand. I mean what are you going to do with it? If everything tanks are you going to take it down to the 7 eleven and cut off a slice to pay for a pizza? You will have to take it somewhere that can trade it for something you can use so why not keep it there in the first place. I know that all the gold in California is in a bank in Beverly Hills.

 

[Mortenson]

I don’t see the advantage to have the physical bar in hand. I mean what are you going to do with it? If everything tanks are you going to take it down to the 7 eleven and cut off a slice to pay for a pizza? You will have to take it somewhere that can trade it for something you can use so why not keep it there in the first place. I know that all the gold in California is in a bank in Beverly Hills.

Status symbol. Fun to play with and fondle. I don't think I'd be able to open a safe very well with a gun pointed at my head. Cans of peaches and a water filtration straw might be better in a shtf situation.