cityfisher Posted January 9, 2012 Report Posted January 9, 2012 Hi all, Can anyone recommend the best way to buy and sell gold and silver bars/coins? I was given a bunch to me by my grandfather when i was a kid and was thinking of adding to the investment or possibly selling if a time comes when i need the cash. Any recommendations? I noticed there is a one place in Richmond hill that sells Metals but there premiums seems to be a bit high. Thoughts....?
Rod Caster Posted January 9, 2012 Report Posted January 9, 2012 Try Kitco online. I used to buy Palladium funds from them.
cityfisher Posted January 9, 2012 Author Report Posted January 9, 2012 unfortunatly kitco has a $2500 purchase min.
12footspringbok Posted January 9, 2012 Report Posted January 9, 2012 Why would you want to own gold and silver?
irishfield Posted January 9, 2012 Report Posted January 9, 2012 Why would you want to own gold and silver? The question is why would you want to sell it... it's speculated to go to $9000 per ounce in due time. A 25 kg bar that was worth $13,000 in the 70's is now worth over $800,000. (just wish I had a few...)
mike rousseau Posted January 9, 2012 Report Posted January 9, 2012 Why would you want to own gold and silver? Cause it's a good investment... Value always goes up...
cityfisher Posted January 9, 2012 Author Report Posted January 9, 2012 (edited) View Post12footspringbok, on 09 January 2012 - 03:21 PM, said: Why would you want to own gold and silver? Cause it's a good investment... Value always goes up... _________ +1 Exactly Edited January 9, 2012 by cityfisher
12footspringbok Posted January 9, 2012 Report Posted January 9, 2012 The question is why would you want to sell it... it's speculated to go to $9000 per ounce in due time. (just wish I had a few...) Who exactly is doing that speculation? Why are they speculating that its going to go that high? Cause it's a good investment... Value always goes up... Why does the value always go up? It went up in the early '80s and went back down...
irishfield Posted January 9, 2012 Report Posted January 9, 2012 Who exactly is doing that speculation? Why are they speculating that its going to go that high? I'm still kicking my arse that I didn't I didn't buy when I was told to at $297 an ounce. Advisor that told me to bought a $100k worth of hard gold.. now work $600k less capital gains tax. Why it will keep going up over time... they no longer have to back printed money with gold !
Skipper D Posted January 9, 2012 Report Posted January 9, 2012 I believed my hole life that your Gold was not to be sold until you were absolutly broke with nothing but your shirt on your back , but if you walk into any bank the banker will be more then happy to show you how .
cityfisher Posted January 9, 2012 Author Report Posted January 9, 2012 Cause it's a good investment... Value always goes up... I'm still kicking my arse that I didn't I didn't buy when I was told to at $297 an ounce. Advisor that told me to bought a $100k worth of hard gold.. now work $600k less capital gains tax. Why it will keep going up over time... they no longer have to back printed money with gold ! +1 My Dad said the same thing... bought stock instead and it went bellyup.....a Friend of his went with Metals and now has a Sweet cottage in haliburton thanks to the Shiny Rocks
mike rousseau Posted January 9, 2012 Report Posted January 9, 2012 Who exactly is doing that speculation? Why are they speculating that its going to go that high? Why does the value always go up? It went up in the early '80s and went back down... And how's it doing now compared to the 80s? I'd say it went up... It may dip here and there... But will rise and rise over time...
Big Cliff Posted January 9, 2012 Report Posted January 9, 2012 I can remember when it was about $35.00/oz back in 1965. It has almost trippled in value in the last five or six years.
Rod Caster Posted January 9, 2012 Report Posted January 9, 2012 I believed my hole life that your Gold was not to be sold until you were absolutly broke with nothing but your shirt on your back , but if you walk into any bank the banker will be more then happy to show you how . I agree Skip. If you sell gold/silver, chances are that money will go into a less secure or less profitable investment. If you just need the cash then you'll get a decent price right now.. but might kick yourself in the next couple years. Now, if your asking because you have unpublished drilling results from an exploration company.. please do share
Fisherman Posted January 10, 2012 Report Posted January 10, 2012 You can't eat or spend gold or silver. Last I checked, loonies and toonies are pretty hard on the teeth and paper money doesn't contain enough protein to keep you alive.
skeeter99 Posted January 10, 2012 Report Posted January 10, 2012 Hi all, Can anyone recommend the best way to buy and sell gold and silver bars/coins? I was given a bunch to me by my grandfather when i was a kid and was thinking of adding to the investment or possibly selling if a time comes when i need the cash. Any recommendations? I noticed there is a one place in Richmond hill that sells Metals but there premiums seems to be a bit high. Thoughts....? well I just sold some silver coins pre 65 80% content $44 dollars face value and I got $565 dollars that is $12.80 per dollar (not bad since I shopped around lowest was $298 for $44) not bad for collecting the silver at the family business that people spent over the years
bigbuck Posted January 10, 2012 Report Posted January 10, 2012 If we see any appreciable inflation the price of precious metals will rise rapidly as a hedge. You don't need to buy physical gold and worry about storage. PM me if you want some ideas. I am a financial advisor and I'm not soliciting business.
John Bacon Posted January 10, 2012 Report Posted January 10, 2012 And how's it doing now compared to the 80s? I'd say it went up... It may dip here and there... But will rise and rise over time... In absolute dollars it is higher than in the early eighties. However, if you adjust for inflation it is no where near where it was in the early eighties. I remember gold being over $1,000 /oz around 1980; it is about $1,600 /oz now... $1,000 bought a whole lot more in 1980 than $1,600 will buy you today.
backbay Posted January 10, 2012 Report Posted January 10, 2012 (edited) BNS trades more metals than anybody else but in the day, First Mercantile called tighter markets. But to the question of what motivates your selling, that's up to you. Metals have tended to under perform over time, because they haven't paid you to wait. There's a conversation that has to occur around the issue..... Edited January 10, 2012 by backbay
irishfield Posted January 10, 2012 Report Posted January 10, 2012 Yah Mike picked a bad date to use as an example.. with the "spike" in 1980. The last 10 years have been the most measure-able.. following the "hedge bet" with printed money no longer being backed by gold.
12footspringbok Posted January 10, 2012 Report Posted January 10, 2012 Why it will keep going up over time... they no longer have to back printed money with gold ! http://www.youtube.com/watch?feature=player_embedded&v=9fzO_YhOYNQ Gold and silver aren't backed by anything...
BITEME Posted January 10, 2012 Report Posted January 10, 2012 When the time comes and the war with the zombies arrives paper will be worth nothing and the pieces of shinny stuff you hold will get you what you want!!!! Peter
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