Precious Bullion Answers
Do local banks keep precious metals in their vaults, and how much cash would a local bank have on hand?
Q. For instance, how much gold bullion, if any, would be kept in their vault. How much cash would be kept in their vault? It's interesting to me.
Asked by Jonathan W - Thu Feb 11 21:55:48 2010 - Other - Business & Finance - 2 Answers - Comments
A. Thinking of a little robbery, are we? No, banks in this era do not keep big piles of gold bars in their vault. The amount of cash varies based on the day (Fridays are busier because of pay days often falling on Fridays) but there is not as much as you think certainly not much more than $100,000 in a branch bank. The main vault at a large headquarters bank will have more. I would start with convenience stores and work your way up to banks.
Answered by Not My Real Name or Face - Thu Feb 11 22:04:49 2010
Q. For instance, how much gold bullion, if any, would be kept in their vault. How much cash would be kept in their vault? It's interesting to me.
Asked by Jonathan W - Thu Feb 11 21:55:48 2010 - Other - Business & Finance - 2 Answers - Comments
A. Thinking of a little robbery, are we? No, banks in this era do not keep big piles of gold bars in their vault. The amount of cash varies based on the day (Fridays are busier because of pay days often falling on Fridays) but there is not as much as you think certainly not much more than $100,000 in a branch bank. The main vault at a large headquarters bank will have more. I would start with convenience stores and work your way up to banks.
Answered by Not My Real Name or Face - Thu Feb 11 22:04:49 2010
Is copper classed as a precious metal?
Q. Is it a waste of time buying coppper bullion bars? In case it goes up in price?
Asked by Anonymous - Fri Feb 26 20:30:09 2010 - Investing - 2 Answers - 1 Comments
A. No it's not a waste of time if the price of copper goes up. Copper is considered a base metal.
Answered by Joe S - Fri Feb 26 20:49:10 2010
Q. Is it a waste of time buying coppper bullion bars? In case it goes up in price?
Asked by Anonymous - Fri Feb 26 20:30:09 2010 - Investing - 2 Answers - 1 Comments
A. No it's not a waste of time if the price of copper goes up. Copper is considered a base metal.
Answered by Joe S - Fri Feb 26 20:49:10 2010
Investing in Precious Metals...?
Q. I don't get it, Silver is at 9.34 an ounce right? If you check a mint, you're paying like twice that for an ounce coin or bullion, and if you check ebay you're paying even more then twice what it's actually worth. How the hell does one go about investing in precious metals? I'm so confused :S
Asked by Jeremy MacAlister - Sat Oct 25 05:37:12 2008 - Investing - 6 Answers - Comments
A. You can buy precious metals in various formats. Educate yourself very intense, before you get into it. Any coins are more expensive, then the metal is worth. You can buy bars or shares and there are coins, which cost only a small percentage more then theri metal is worth.
Answered by bonsai - Sat Oct 25 07:18:41 2008
Q. I don't get it, Silver is at 9.34 an ounce right? If you check a mint, you're paying like twice that for an ounce coin or bullion, and if you check ebay you're paying even more then twice what it's actually worth. How the hell does one go about investing in precious metals? I'm so confused :S
Asked by Jeremy MacAlister - Sat Oct 25 05:37:12 2008 - Investing - 6 Answers - Comments
A. You can buy precious metals in various formats. Educate yourself very intense, before you get into it. Any coins are more expensive, then the metal is worth. You can buy bars or shares and there are coins, which cost only a small percentage more then theri metal is worth.
Answered by bonsai - Sat Oct 25 07:18:41 2008
Where can I buy precious metals with cash?
Q. Suffice it to say I'm very concerned with the way the nation's and world's financial state is headed. I want to invest in gold, silver, platinum, palladium... "real wealth," per se. I want to have actual control of the metal and store it in my own safe. Is there any place I can walk in with cash in hand and leave with said metal (either in bar/bullion form or in coins) in hand?
Asked by Stephen13MP - Thu May 5 19:10:38 2011 - Personal Finance - 3 Answers - Comments
A. Rather than buying bullion you would probably be better off buying and selling precious metal mining stocks. Doing so you don't have to worry about storing, transporting or insuring a commodity. Also, it is much easier buying and selling stocks with lower transactional costs and commissions. Also, gold sitting somewhere in a vault doesn't earn any income where many mining stocks pay a dividend. If you insist on wanting to own bullion, you're probably better off owning an ETF which invests in bullion. For smaller investors, owning the actual bullion is rarely a good idea. Good luck.
Answered by David M - Thu May 5 19:37:37 2011
Q. Suffice it to say I'm very concerned with the way the nation's and world's financial state is headed. I want to invest in gold, silver, platinum, palladium... "real wealth," per se. I want to have actual control of the metal and store it in my own safe. Is there any place I can walk in with cash in hand and leave with said metal (either in bar/bullion form or in coins) in hand?
Asked by Stephen13MP - Thu May 5 19:10:38 2011 - Personal Finance - 3 Answers - Comments
A. Rather than buying bullion you would probably be better off buying and selling precious metal mining stocks. Doing so you don't have to worry about storing, transporting or insuring a commodity. Also, it is much easier buying and selling stocks with lower transactional costs and commissions. Also, gold sitting somewhere in a vault doesn't earn any income where many mining stocks pay a dividend. If you insist on wanting to own bullion, you're probably better off owning an ETF which invests in bullion. For smaller investors, owning the actual bullion is rarely a good idea. Good luck.
Answered by David M - Thu May 5 19:37:37 2011
How much will the prices of silver plummet?
Q. After Osama Bin Laden's announced death, stock markets shot up and the prices of precious metals crashed. I bought some silver bullion @ 60 USD each, will the prices of silver be higher in the future or crash to around the 5 dollar mark as seen in the early 2000s. Thank you very much.
Asked by Michael - Tue May 3 19:25:56 2011 - Investing - 5 Answers - Comments
A. Not sure why you would have paid $60 when the high for this move was just under $50. Anyway, my projection suggests silver (and gold) will decline for the next 3 weeks or so, and bottom out on May 26, probably in the $35-38 range. From there, it should go up into late August or so, so that's the time to buy.
Answered by Warren534 - Tue May 3 22:18:25 2011
Q. After Osama Bin Laden's announced death, stock markets shot up and the prices of precious metals crashed. I bought some silver bullion @ 60 USD each, will the prices of silver be higher in the future or crash to around the 5 dollar mark as seen in the early 2000s. Thank you very much.
Asked by Michael - Tue May 3 19:25:56 2011 - Investing - 5 Answers - Comments
A. Not sure why you would have paid $60 when the high for this move was just under $50. Anyway, my projection suggests silver (and gold) will decline for the next 3 weeks or so, and bottom out on May 26, probably in the $35-38 range. From there, it should go up into late August or so, so that's the time to buy.
Answered by Warren534 - Tue May 3 22:18:25 2011
What restrictions are there when leaving the USA with gold and silver bullion?
Q. Lets say I want to fly to New Zealand and bring with me precious metals greater than 10k. Will the USA have a problem with this and will New Zealand tax me in some form?
Asked by Hans - Tue Feb 17 13:06:32 2009 - Investing - 1 Answers - 1 Comments
A. Yes. You will be flagged by airport screeners and prob be late for your flight! Why would you need to travel with 10k+ in precious metals anyway. Even if TSA lets your through, you'll prob be robbed anyway.
Answered by Net Advisor - Tue Feb 17 13:16:57 2009
Q. Lets say I want to fly to New Zealand and bring with me precious metals greater than 10k. Will the USA have a problem with this and will New Zealand tax me in some form?
Asked by Hans - Tue Feb 17 13:06:32 2009 - Investing - 1 Answers - 1 Comments
A. Yes. You will be flagged by airport screeners and prob be late for your flight! Why would you need to travel with 10k+ in precious metals anyway. Even if TSA lets your through, you'll prob be robbed anyway.
Answered by Net Advisor - Tue Feb 17 13:16:57 2009
Precious Metals?
Q. Do you think its a good time to buy gold, silver, platinum, and/or palladium ? Given the subprime mortgage crisis results, globabl tensions, and a weakening dollar etc... I think Russia will be running into deficit on palladium in a few years so maybe its a good time to buy some? Silver seems to volatile to be worth investing in (and too high right now)... Platinum is just too expensive for me to invest in right now also... Gold seems like its good (more scarce, jewelry, besides its the main one people will invest into).. Any ideas, also im looking into long term investment (greater than 5 years) and to buy physical bullion not stocks... Thanks
Asked by billybob - Fri Oct 26 17:40:24 2007 - Investing - 3 Answers - Comments
A. I love gold. The run is not over, it's just too bad you didn't buy your bullion earlier this year or last. I don't have the money to buy bullion, but I've got GLD. I'm very happy, and confident it will reach $800 this year. And at the rate it's been moving, I'd love to see Gold at $850 by the end of this year. We have to move past the psychological price barriers, which tends to take time and creates corrections. Precious metals are volatile, there's no doubt. Especially these days as many people bought in at significantly lower prices a while back. What we've seen over the last month has been constant corrections due to profit taking. The people who got in under $600, and even as low as $300, are very happy. I had a professor who said… [cont.]
Answered by B - Sat Oct 27 04:22:35 2007
Q. Do you think its a good time to buy gold, silver, platinum, and/or palladium ? Given the subprime mortgage crisis results, globabl tensions, and a weakening dollar etc... I think Russia will be running into deficit on palladium in a few years so maybe its a good time to buy some? Silver seems to volatile to be worth investing in (and too high right now)... Platinum is just too expensive for me to invest in right now also... Gold seems like its good (more scarce, jewelry, besides its the main one people will invest into).. Any ideas, also im looking into long term investment (greater than 5 years) and to buy physical bullion not stocks... Thanks
Asked by billybob - Fri Oct 26 17:40:24 2007 - Investing - 3 Answers - Comments
A. I love gold. The run is not over, it's just too bad you didn't buy your bullion earlier this year or last. I don't have the money to buy bullion, but I've got GLD. I'm very happy, and confident it will reach $800 this year. And at the rate it's been moving, I'd love to see Gold at $850 by the end of this year. We have to move past the psychological price barriers, which tends to take time and creates corrections. Precious metals are volatile, there's no doubt. Especially these days as many people bought in at significantly lower prices a while back. What we've seen over the last month has been constant corrections due to profit taking. The people who got in under $600, and even as low as $300, are very happy. I had a professor who said… [cont.]
Answered by B - Sat Oct 27 04:22:35 2007
If every country in the world, including the USA, has a foreign debt, to whom, where or what is it all owed?
Q. It seems to me that some entity - at some time, uh, I don't know when - must be in for a large windfall! Do you believe that a lot of deception exists in the world of finance? Is it realistic to believe that a nation's wealth is stored in gold bullion in a vault somewhere? Is Fort Knox really a lot of BULL-ion? Why isn't some of that alleged bullion being used to pay off some of the foreign debt of the United States or even to feed and look after its own people, as well as others? Isn't it really a waste of gold chains that could be made out of it? After all, gold only has an ascribed value due to its status as a precious metal, not a major intrinsic one. Do you believe that money is really created out of thin air in the form of credit,… [cont.]
Asked by spanner - Sat Aug 5 13:48:28 2006 - Economics - 6 Answers - Comments
A. First of all, what you call a country's international debt is in fact the government's international debt. Governments borrow from private sector, and some of this borrowing just happens to be international. So your question about nation's wealth and gold bullion is irrelevant. The wealth that creditors count on when they lend to a governmnet is tax revenues, not gold bars.
Answered by NC - Tue Aug 8 19:41:38 2006
Q. It seems to me that some entity - at some time, uh, I don't know when - must be in for a large windfall! Do you believe that a lot of deception exists in the world of finance? Is it realistic to believe that a nation's wealth is stored in gold bullion in a vault somewhere? Is Fort Knox really a lot of BULL-ion? Why isn't some of that alleged bullion being used to pay off some of the foreign debt of the United States or even to feed and look after its own people, as well as others? Isn't it really a waste of gold chains that could be made out of it? After all, gold only has an ascribed value due to its status as a precious metal, not a major intrinsic one. Do you believe that money is really created out of thin air in the form of credit,… [cont.]
Asked by spanner - Sat Aug 5 13:48:28 2006 - Economics - 6 Answers - Comments
A. First of all, what you call a country's international debt is in fact the government's international debt. Governments borrow from private sector, and some of this borrowing just happens to be international. So your question about nation's wealth and gold bullion is irrelevant. The wealth that creditors count on when they lend to a governmnet is tax revenues, not gold bars.
Answered by NC - Tue Aug 8 19:41:38 2006
Why are American gold coins allowed to be minted with a value?
Q. I have been recently looking at the bullion and precious metal mints market and it occurred to me that American gold mints are presumably illegal. How can any nation mint their dollar amount on a coin as the coin itself is worth several hundred or thousands more than the branded value. In other words the coins is worth 1,350 dollars in USD and branded as a $50 dollar coin. No one in the their right mind is going to purchase dinner with 1,350 dollar coin and allow another to credit you the worth of $50. What is the point? Is American hoping someone wealthy gives them a donation from time to time? Unless these coins were originally released to someone for $50's in which case I have an army of people with pitch forks rather angry. Quite… [cont.]
Asked by - Fri Oct 8 19:16:57 2010 - Other - Business & Finance - 2 Answers - Comments
A. Those coins are not and never were intended to circulate. They are strictly for the collector / bullion market, and the US Mint sells them at bullion value, not face value. The denomination is what makes them coins and not medals, so it is essentially done for marketing purposes. The US Mint produced gold ounce and half ounce medals in the 1980s that didn't sell well compared to the Chinese and Canadian bullion coins (all of which have artificially low face values, and are therefore technically coins and not medals). That put the US Mint at a competitive disadvantage, so the US Mint began producing American Eagle gold coins (with denominations) in 1992. American Eagle gold and silver bullion coins don't circulate for the same reason that… [cont.]
Answered by I. B. Zoxx - Fri Oct 8 23:25:45 2010
Q. I have been recently looking at the bullion and precious metal mints market and it occurred to me that American gold mints are presumably illegal. How can any nation mint their dollar amount on a coin as the coin itself is worth several hundred or thousands more than the branded value. In other words the coins is worth 1,350 dollars in USD and branded as a $50 dollar coin. No one in the their right mind is going to purchase dinner with 1,350 dollar coin and allow another to credit you the worth of $50. What is the point? Is American hoping someone wealthy gives them a donation from time to time? Unless these coins were originally released to someone for $50's in which case I have an army of people with pitch forks rather angry. Quite… [cont.]
Asked by - Fri Oct 8 19:16:57 2010 - Other - Business & Finance - 2 Answers - Comments
A. Those coins are not and never were intended to circulate. They are strictly for the collector / bullion market, and the US Mint sells them at bullion value, not face value. The denomination is what makes them coins and not medals, so it is essentially done for marketing purposes. The US Mint produced gold ounce and half ounce medals in the 1980s that didn't sell well compared to the Chinese and Canadian bullion coins (all of which have artificially low face values, and are therefore technically coins and not medals). That put the US Mint at a competitive disadvantage, so the US Mint began producing American Eagle gold coins (with denominations) in 1992. American Eagle gold and silver bullion coins don't circulate for the same reason that… [cont.]
Answered by I. B. Zoxx - Fri Oct 8 23:25:45 2010
Where is the best place to buy Gold or Silver bullion?
Q. Where's the best place to trade precious metals?
Asked by g-money - Wed Apr 9 18:42:11 2008 - Investing - 4 Answers - Comments
A. I'd go with some EFTs. IAU or GLD for gold and SLV for silver, but there are others to pick from.
Answered by Scott K - Wed Apr 9 19:51:34 2008
Q. Where's the best place to trade precious metals?
Asked by g-money - Wed Apr 9 18:42:11 2008 - Investing - 4 Answers - Comments
A. I'd go with some EFTs. IAU or GLD for gold and SLV for silver, but there are others to pick from.
Answered by Scott K - Wed Apr 9 19:51:34 2008
where can i buy precious metals?
Q. I would appreciate a list of websites, though if there is anywhere I can buy bullion here in Boston please tell me.
Asked by Paul - Sat Dec 26 18:01:28 2009 - Other - Business & Finance - 1 Answers - Comments
Q. I would appreciate a list of websites, though if there is anywhere I can buy bullion here in Boston please tell me.
Asked by Paul - Sat Dec 26 18:01:28 2009 - Other - Business & Finance - 1 Answers - Comments
What might be the best gold and silver exchange agency if I was to invest in such precious metals.?
Q. Recently I have been searching to find the best way to invest, which included silver and gold. Still, there are many gold and silver exchanges, excluding the U.S. Bullion Exchange, and I am just curious about any of these others that I have briefly looked at and many that I haven't. If you have any answers please get back to me. If you have any other better suggestions in investing I am also listening.
Asked by JBroste - Tue Aug 21 03:18:22 2007 - Investing - 2 Answers - 1 Comments
A. Bullion is so last century. Open an online discount brokerage account and buy the exchange-traded funds that track the price of gold and/or silver. The symbols are GLD and SLV, and I believe both are in the Street Tracks family. If you really know what you're doing mining stocks are more profitable than raw metals.
Answered by Houyhnhnm - Sat Aug 25 03:03:18 2007
Q. Recently I have been searching to find the best way to invest, which included silver and gold. Still, there are many gold and silver exchanges, excluding the U.S. Bullion Exchange, and I am just curious about any of these others that I have briefly looked at and many that I haven't. If you have any answers please get back to me. If you have any other better suggestions in investing I am also listening.
Asked by JBroste - Tue Aug 21 03:18:22 2007 - Investing - 2 Answers - 1 Comments
A. Bullion is so last century. Open an online discount brokerage account and buy the exchange-traded funds that track the price of gold and/or silver. The symbols are GLD and SLV, and I believe both are in the Street Tracks family. If you really know what you're doing mining stocks are more profitable than raw metals.
Answered by Houyhnhnm - Sat Aug 25 03:03:18 2007
Is Universal Coin & Bullion a reputable company?
Q. I recently bought some gold in the form of Napoleon III 10 franc coins from Goldline and now realize that I paid way too much in commissions (the "spread"). It is my fault for not doing enough research, and thankfully I didn't invest too much, but I'm now weary of buying more gold/precious metals after getting burned. Does anybody have any experience with Universal Coin of Beaumont, TX? They advertise every month in American Rifleman and are endorsed by the NRA, but I'm not sure that means much. I definitely learned my lesson and will be sticking to bullion and bullion coins which track the price of their respective metal, and remove the guesswork of the numismatic premium that a novice buyer like myself knows little about. (Actua [cont.]
Asked by goro - Mon Feb 21 14:11:17 2011 - Investing - 3 Answers - Comments
A. Also be extremely wary of selling gold, silver, jewelry, and coins to the numerous "We Buy Gold" scam houses. They pay 1/5 to 1/6 of the real value of the bullion. Amd no, the government can't take of sell your bullion. if you want to invesat in Gold and "ride" the fluctuation in gold prices, then consider buying gold stock. One such fund has stock symbol GLD and trades on the Dow Jones. it has 57 billion in market capital. The price exactly follows the price of gold.
Answered by Tom S - Mon Feb 21 14:15:43 2011
Q. I recently bought some gold in the form of Napoleon III 10 franc coins from Goldline and now realize that I paid way too much in commissions (the "spread"). It is my fault for not doing enough research, and thankfully I didn't invest too much, but I'm now weary of buying more gold/precious metals after getting burned. Does anybody have any experience with Universal Coin of Beaumont, TX? They advertise every month in American Rifleman and are endorsed by the NRA, but I'm not sure that means much. I definitely learned my lesson and will be sticking to bullion and bullion coins which track the price of their respective metal, and remove the guesswork of the numismatic premium that a novice buyer like myself knows little about. (Actua [cont.]
Asked by goro - Mon Feb 21 14:11:17 2011 - Investing - 3 Answers - Comments
A. Also be extremely wary of selling gold, silver, jewelry, and coins to the numerous "We Buy Gold" scam houses. They pay 1/5 to 1/6 of the real value of the bullion. Amd no, the government can't take of sell your bullion. if you want to invesat in Gold and "ride" the fluctuation in gold prices, then consider buying gold stock. One such fund has stock symbol GLD and trades on the Dow Jones. it has 57 billion in market capital. The price exactly follows the price of gold.
Answered by Tom S - Mon Feb 21 14:15:43 2011
Where is the best place to buy Gold or Silver bullion bars?
Q. Where is the best place to buy Gold or Silver bullion bars? On the internet (which site) or from a dealer? Where is the best place to buy precious metals that is certified? What are the risks involved in buying precious metals?
Asked by emartel01 - Thu Apr 10 19:09:24 2008 - Investing - 1 Answers - 3 Comments
A. Apmex.com is the best place to buy PMs online. You may be able to do better with a local dealer if you can establish a good relationship. I'm not sure what you mean by "certified" if you mean slabbed by a grading company like PCCGS or NGC it is really not worth it for bullion coins. RIsks are just like buying any other commodity; there is likely to be volitility & you may not be comfortable with the price swings if you are only in it for the short-term gains. In the long-term, PMs are in a multi-year bull market & will do very very well for the next 3-5 years or so. Also you must consider storage with physical gold & silver. Silver is especially bulky when you are talking 100+ ounces so you must think about a place to… [cont.]
Answered by CustomSoftail - Thu Apr 10 21:40:23 2008
Q. Where is the best place to buy Gold or Silver bullion bars? On the internet (which site) or from a dealer? Where is the best place to buy precious metals that is certified? What are the risks involved in buying precious metals?
Asked by emartel01 - Thu Apr 10 19:09:24 2008 - Investing - 1 Answers - 3 Comments
A. Apmex.com is the best place to buy PMs online. You may be able to do better with a local dealer if you can establish a good relationship. I'm not sure what you mean by "certified" if you mean slabbed by a grading company like PCCGS or NGC it is really not worth it for bullion coins. RIsks are just like buying any other commodity; there is likely to be volitility & you may not be comfortable with the price swings if you are only in it for the short-term gains. In the long-term, PMs are in a multi-year bull market & will do very very well for the next 3-5 years or so. Also you must consider storage with physical gold & silver. Silver is especially bulky when you are talking 100+ ounces so you must think about a place to… [cont.]
Answered by CustomSoftail - Thu Apr 10 21:40:23 2008
Is America Bankrupt Is the Dollar worth Zero?
Q. What folks need to understand is that the global OTC derivatives market, measured in tens or hundreds of trillions, is virtually all U.S. dollar denominated. Its systematic failure, which is now occurring, requires U.S. dollar balances to clear (settle) the trades (bets). This has created the paradoxical global demand for U.S. dollars, the currency of a country that is fundamentally bankrupt. By rationing credit to hedge funds that were naturally levered and "long commodities", institutions like JP Morgan routinely took the other sides of their customers commodities bets, ruining institutions like natural gas player Amaranth, and propping up the balance sheets of those who were short commodities, such as the banks. The Federal… [cont.]
Asked by Woody - Mon Dec 1 18:28:33 2008 - Personal Finance - 2 Answers - Comments
A. we have seen interest rates on t bills effectively at zero. the dollar is not worthless yet but at the rate the fed is creating money a full dollar collapse is on the way.by all measures the federal government is bankrupt.
Answered by freakboynv2008 - Mon Dec 1 18:40:37 2008
Q. What folks need to understand is that the global OTC derivatives market, measured in tens or hundreds of trillions, is virtually all U.S. dollar denominated. Its systematic failure, which is now occurring, requires U.S. dollar balances to clear (settle) the trades (bets). This has created the paradoxical global demand for U.S. dollars, the currency of a country that is fundamentally bankrupt. By rationing credit to hedge funds that were naturally levered and "long commodities", institutions like JP Morgan routinely took the other sides of their customers commodities bets, ruining institutions like natural gas player Amaranth, and propping up the balance sheets of those who were short commodities, such as the banks. The Federal… [cont.]
Asked by Woody - Mon Dec 1 18:28:33 2008 - Personal Finance - 2 Answers - Comments
A. we have seen interest rates on t bills effectively at zero. the dollar is not worthless yet but at the rate the fed is creating money a full dollar collapse is on the way.by all measures the federal government is bankrupt.
Answered by freakboynv2008 - Mon Dec 1 18:40:37 2008
Is buying directly in bullion / mass the most cost effective way to but precious metals?
Q. What are reputable companies to deal with ?
Asked by Eldorado - Wed Aug 12 19:20:29 2009 - Personal Finance - 2 Answers - Comments
A. Buying bullion is usually not a good idea. You need to store it, insure it, keep it safe. Also the transactional costs are quite high with commissions and big spreads between bid and ask prices. You get screwed both buying and selling. I prefer to buy and sell stocks in gold mining companies. You can also invest in gold mining mutual funds. All the problems with buying bullion go away. My favorites are Kinross Gold (KGC) an Goldcorp (GG). Good luck.
Answered by David M - Wed Aug 12 20:41:32 2009
Q. What are reputable companies to deal with ?
Asked by Eldorado - Wed Aug 12 19:20:29 2009 - Personal Finance - 2 Answers - Comments
A. Buying bullion is usually not a good idea. You need to store it, insure it, keep it safe. Also the transactional costs are quite high with commissions and big spreads between bid and ask prices. You get screwed both buying and selling. I prefer to buy and sell stocks in gold mining companies. You can also invest in gold mining mutual funds. All the problems with buying bullion go away. My favorites are Kinross Gold (KGC) an Goldcorp (GG). Good luck.
Answered by David M - Wed Aug 12 20:41:32 2009
How best to sell investment metals?
Q. What do you do when it is time to sell your gold coins, silver bullion, pre-1982 pennies, or any other form of precious or base metal that you bought as an investment?
Asked by ConcernedLemming - Wed Apr 6 22:32:16 2011 - Investing - 4 Answers - Comments
A. I would have to say ebay will be your best bet for maximum profit and safety if you want to take the time to do it. Depending on when you list them Ebay has been running free basic listing promos for 100 items that's when I usually list items it will save you some money. Also people usually pay a few dollars over spot for silver and gold. Im not sure what kinds of coins you have some have additional collector value and you can usually a few more dollars in addition depending. Factor in ebay and pay pal fees and time spent. There a lot of excellent large dealers out there as well as shady ones you need to research the company and if you plan to go that route when selling to a dealer expect between 5-20% less than spot price.
Answered by Al Candy - Thu Apr 7 02:22:55 2011
Q. What do you do when it is time to sell your gold coins, silver bullion, pre-1982 pennies, or any other form of precious or base metal that you bought as an investment?
Asked by ConcernedLemming - Wed Apr 6 22:32:16 2011 - Investing - 4 Answers - Comments
A. I would have to say ebay will be your best bet for maximum profit and safety if you want to take the time to do it. Depending on when you list them Ebay has been running free basic listing promos for 100 items that's when I usually list items it will save you some money. Also people usually pay a few dollars over spot for silver and gold. Im not sure what kinds of coins you have some have additional collector value and you can usually a few more dollars in addition depending. Factor in ebay and pay pal fees and time spent. There a lot of excellent large dealers out there as well as shady ones you need to research the company and if you plan to go that route when selling to a dealer expect between 5-20% less than spot price.
Answered by Al Candy - Thu Apr 7 02:22:55 2011
Should I use Bullion Direct or APMEX (American Precious Metal Exchange)?
Q. I am a first time investor. I don't have a high income but I want to save some money in silver. I am looking to buy between 5 and 10 ounces, at least for the first time. Which company is a better choice for a small buyer? I am also open to suggestions other than the two companies that I mentioned.
Asked by Matthew - Sat Nov 20 16:32:13 2010 - Investing - 1 Answers - Comments
A. APMEX is a reputable firm that has been around for many years. Never heard of Bullion Direct. You might also check at a local coin dealer. If you can take delivery in person, it might be cheaper than paying for shipping on a small order.
Answered by Jerry - Sat Nov 20 17:59:24 2010
Q. I am a first time investor. I don't have a high income but I want to save some money in silver. I am looking to buy between 5 and 10 ounces, at least for the first time. Which company is a better choice for a small buyer? I am also open to suggestions other than the two companies that I mentioned.
Asked by Matthew - Sat Nov 20 16:32:13 2010 - Investing - 1 Answers - Comments
A. APMEX is a reputable firm that has been around for many years. Never heard of Bullion Direct. You might also check at a local coin dealer. If you can take delivery in person, it might be cheaper than paying for shipping on a small order.
Answered by Jerry - Sat Nov 20 17:59:24 2010
I want to invest (gold) more aggressively over my allowable earnings. Are there investment loans available?
Q. I am interested in investments like precious metals--silver & gold bullions. Can and will banks use this as colateral against a loan? Any information on the type of investment loans available would be a great start for me. Thanks
Asked by investment advice - Sun Sep 17 16:48:36 2006 - Investing - 3 Answers - 1 Comments
A. Anyone that would loan you money to speculate in anything would have to be a moron! If you already own such things, some institutions would use them as colatteral, but usually at 50% or less of current market value.
Answered by Richard W - Sun Sep 17 16:57:38 2006
Q. I am interested in investments like precious metals--silver & gold bullions. Can and will banks use this as colateral against a loan? Any information on the type of investment loans available would be a great start for me. Thanks
Asked by investment advice - Sun Sep 17 16:48:36 2006 - Investing - 3 Answers - 1 Comments
A. Anyone that would loan you money to speculate in anything would have to be a moron! If you already own such things, some institutions would use them as colatteral, but usually at 50% or less of current market value.
Answered by Richard W - Sun Sep 17 16:57:38 2006
Precious metals broker legit?
Q. I was contacted by a precious metals sales rep with a broker in California. He told me about their website and offered to mail out a brochure about the company. I went to the website and it seems pretty well done. The business has a A- rating with the BBB (with accreditation from BBB as well), but I noticed they've only been open since 2007. They're basically wanting me to invest using a 4:1 leverage in gold bullion. The management fee is 15% of total metal bought. While that seems steep, they are not hiding this factor and all the disclosures are clearly spelled out on the web page. My question is: do any of you deal with one of these brokers? I looked around and it appears there are quite a few of them. With the leverage, I'm sure there's [cont.]
Asked by InterestedObserver - Sat Aug 29 17:56:26 2009 - Investing - 4 Answers - Comments
A. Good investments sell themselves. Bad/risky investments, need to be sold. Leverage is fine, when it works in your favor. When it does not, the down side can be brutal. If you want to buy gold, then buy it. Why do you need to use leverage, or a broker?? I would not be interested in this. And I say this as someone who has many (gold) Kruggerands sitting in his safety deposit box. I think that was my point. How legit is any dealer/broker that needs to cold call people to get them to invest???
Answered by exactduke - Sat Aug 29 18:56:40 2009
Q. I was contacted by a precious metals sales rep with a broker in California. He told me about their website and offered to mail out a brochure about the company. I went to the website and it seems pretty well done. The business has a A- rating with the BBB (with accreditation from BBB as well), but I noticed they've only been open since 2007. They're basically wanting me to invest using a 4:1 leverage in gold bullion. The management fee is 15% of total metal bought. While that seems steep, they are not hiding this factor and all the disclosures are clearly spelled out on the web page. My question is: do any of you deal with one of these brokers? I looked around and it appears there are quite a few of them. With the leverage, I'm sure there's [cont.]
Asked by InterestedObserver - Sat Aug 29 17:56:26 2009 - Investing - 4 Answers - Comments
A. Good investments sell themselves. Bad/risky investments, need to be sold. Leverage is fine, when it works in your favor. When it does not, the down side can be brutal. If you want to buy gold, then buy it. Why do you need to use leverage, or a broker?? I would not be interested in this. And I say this as someone who has many (gold) Kruggerands sitting in his safety deposit box. I think that was my point. How legit is any dealer/broker that needs to cold call people to get them to invest???
Answered by exactduke - Sat Aug 29 18:56:40 2009
From Yahoo Answer Search: 'precious bullion'
Sun Jan 8 12:24:55 2012
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www.bullion-bars.org
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[source page]
Gold Bullion Bars and Coins
Coin Week (blog)
Thu, 29 Dec 2011 14:43:41 -0800
This one covers precious metals. 2011 has been a roller coaster of a year for precious metals. This article only addresses gold and silver, but it is also worth keeping an eye on platinum, which I believe is undervalued at today's $1400 level. ...
en.wikipedia.org
A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most elements ...
en.wikipedia.org/wiki/Precious_metal
A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most elements, have high lustre, are softer or more ductile, and have higher melting points than other metals. Historically, precious metals were important as currency, but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
bullion
Definition from Wiktionary, the free dictionary Jump to: navigation, search See also bouillon[Hide]▲