I checked with Goldline about the possability of buying gold. It appears as if they are asking 30-35% above the spot price. Wow! I guess they have to pay for all those TV commercials somehow. Can you folks suggest any cheaper way to abtain gold? Thanks…
you mean besides panning for it?
ill sell you a broken 10k gold chain thats pretty messed up, haha.
About all you can do now is cough up some hard cashola and wait for the price to rise. I dont think there is a “cheap” way to obtain gold nowadays…at least not legally that is 
Well there are plenty of parts of computers that are gold. So for any computer that got tossed in the trash for the last 10 years drove the cost of gold up.
That 30-35% above spot doesn’t sound right. There is a coin store near me that offers 1 oz. Gold Eagles for $55 over spot (about 5%).
Kitco, though it’s already been mentioned, and, if you can find a reputable seller, eBay. Usually on the 'bay, prices hover around spot.
A cheaper alternative is to go to your local bank and buy rolls of nickels…
gold is great but silver is the ticket to the future its underpriced heavily and has alot of potential.
smart of you thinking about moving your assets to physical
http://m4carbine.net/showthread.php?t=23571&highlight=bullion
A thread from last year or the year before on the topic.
Why is that?
I’ve been wondering about buying gold myself, but have a more general question about it (not new to investing, but new to buying precious metals as a form of insuring against uncertainty or massive devaluation of the dollar).
Doesn’t gold work much like the stock market? I.e., the “smart few” buy early, run up the prices, then everyone starts pushing it to the masses saying Hurry, buy now, the time is right (but 80% to 90% of the upside potential has already been realized). It’s the same old game: the masses will buy high, and at best will realize little growth, or at worst will be forced to sell low later.
Isn’t that kinda’ what’s happening with gold right now? A number of the conservative radio commentators are pushing their audiences to buy gold (and getting healthy ad revenue for those recommendations). But I wonder if it is TRULY in the best interest of your average middle class person, like many of us here at this forum, to plunk down a good chunk of your investment/savings money into gold, thinking it will protect you from future devaluation of the currency.
supply and demand!
i’d shop around though, that does sound high.
A nickel is already worth more than a nickel, in nickel:
The price has been floating between 105% and 135% of face lately.
Start Here:
http://news.coinupdate.com/obamas-budget-includes-coin-composition-changes-0138/
I will second Ebay. You can get the spot price or better on any given day. In this economy there are plenty of legit people selling a little gold for quick cash.
I know an older guy who bought a bunch of 1oz American Eagles in the 90’s when the tech bubble was swelling and gold was around $500 an oz. Since his business is down right now, he sells a coin or two on Ebay for some quick cash to get him through the month.
buy metals from APMEX, goldline was charging way too damn much. They tried to sell me some numismatic stuff and that really annoyed me. I only care about metal. Silver has more potential than gold, and I have more silver than gold for this reason. Also Pre 1982 pennies are worth 2.22 cents and any recent nickel is worth around 5.3 cents melt value.
Pre 1965 90% silver coins are a nice way to get silver on the cheap.
I went to a local jeweler who had some 1 oz bars for about 5-8% above spot price. They come sealed and with certificates. One thing I’ve found is that you will spend more per oz. in coins vs. 1 oz bars. However, at current market values, 1 stinking oz of gold will pay for 1 good quality AR so its hard to put money into precious metals instead buying another rifle.
I am not your financial advisor and you should not take this as advice, however you may want to ask yourself why you are buying gold. If it is to possess physical gold in the event of a sustained melt down wherein the domestic fiat currency has little to no value and you need gold for trade, you may want to consider the impracticalities and cost of using gold to trade. Instead silver is probably a better substitute in such a situation primarily do to denomination amounts, costs over spot at the time of purchase, and clearly recognizable minting and purity stamps (coins) even by those that know next to nothing about it.
Conversely, if you are buying large quantities of gold as a hedge I would encourage that read up on current thoughts related to the potential of a coming gold bubble and what Bufett’s views are on gold as a hedge over time - in short it is an after tax looser.
Good luck
ETA - supply and demand / radio personalities hawking gold - you should also read up on how much gold has entered the system recently via expanded extraction efforts (since it was mentioned - Kitco in particular has dumped a lot of resources into extraction and is estimated to have increased the world supply by 5% themselves) and secondly supply is increased by all of the people that are selling jewelry as a result of high price and hard times. Lastly, I have read a couple of articles that relative to currency values Americans are the ones getting hosed on gold. Like I said, this is not advice just an encouragement to get informed before leaping in with both feet. Most of what I am reading indicates that a bubble is definitely forming but that there is still money to be made in gold. However it is like musical chairs and only the big boys are the ones in control of when the music stops.
i agree with silver.
as a matter of fact i got a some this week. I actually made a youtube video of it. it shows how to shop for silver online it is very informal and i curse but it may help you some.
yea that’s another reason why silver is desirable, it the event of currency meltdown silver is the currency for small and basic transactions. Carrying around 1oz gold bars as payment is like trying to pay for a loaf of bread with a $1000 bill.
Gold or silver?
In my opinion… Both;)
Might be easier to spring for silver, though. 1/10oz rounds are very handy sizes but the premiums are a bit higher.