Anyone buying silver?

[wayner123]

Originally Posted by elderboy02

On a somewhat un-related note, I did purchase my first ounce of gold (South African Kruggerand) yesterday. I am glad I have a safe deposit box. Gold is very expensive.

What are your opinions on gold?

Buying gold right now is alright, but like silver it was better bought 2-3 years ago. I don't know how much higher it will go. When buying gold it depends on what you are buying it for. Are you planning to hold it till sometime in the future when you can sell it and make a profit? Or are you buying it in case of the dollar collapsing and going to use it for buying things?

[landhoney]

I buy/am buying silver.

[elderboy02]

Originally Posted by wayner123

...Are you planning to hold it till sometime in the future when you can sell it and make a profit? Or are you buying it in case of the dollar collapsing and going to use it for buying things?...

I would like to sell it a long time down the road. Hopefully it will be a lot higher in the future.

[wayner123]

Originally Posted by elderboy02

I would like to sell it a long time down the road. Hopefully it will be a lot higher in the future.

Then buying ounces is probably the best bet. I would buy the gold which had the lowest price over spot. While selling gold bullion in the future might prove difficult, gold coins are the best bet.

[elderboy02]

Originally Posted by wayner123

Then buying ounces is probably the best bet. I would buy the gold which had the lowest price over spot. While selling gold bullion in the future might prove difficult, gold coins are the best bet.

This is what I bought: http://www.apmex.com/Product/62/1_oz...ndom_Year.aspx

Did I do ok on the price? Is it true that the Kruggerand is one of the best gold coins to collect. I heard the gold american eagle is good, but that is more $$$ over spot.

[themoneycollector]

Originally Posted by elderboy02

This is what I bought: http://www.apmex.com/Product/62/1_oz...ndom_Year.aspx

Did I do ok on the price? Is it true that the Kruggerand is one of the best gold coins to collect. I heard the gold american eagle is good, but that is more $$$ over spot.

That's very reasonable for today's spot. And yes, Kruggerands are good for storing bullion.

[elderboy02]

Originally Posted by themoneycollector

That's very reasonable for today's spot. And yes, Kruggerands are good for storing bullion.

Thanks. I like buying from local coin shops, but the guy on the phone said he wanted to charge me $70 over spot and tax (6.5% here). With APMEX, all I had to do was pay $40 over spot I believe and $25 shipping.

[wayner123]

Originally Posted by elderboy02

This is what I bought: http://www.apmex.com/Product/62/1_oz...ndom_Year.aspx

Did I do ok on the price? Is it true that the Kruggerand is one of the best gold coins to collect. I heard the gold american eagle is good, but that is more $$$ over spot.

The best place I have found is to go to a coin show. Go around to each gold dealer and ask them about the different coins. Online buying is ok, but coin shows can pull up some good hits too. Just let them know you are not there for collecting, but simply to diversify your portfolio. You can come away with some good deals, and in the future you can also sell your gold at the shows.

[Ashcan Bill]

Originally Posted by elderboy02

This is what I bought: http://www.apmex.com/Product/62/1_oz...ndom_Year.aspx

Did I do ok on the price? Is it true that the Kruggerand is one of the best gold coins to collect. I heard the gold american eagle is good, but that is more $$$ over spot.

KRands are good. You can buy them a bit cheaper, but bear in mind, when you go to sell them, you'll also end up selling them a little cheaper. While very popular when first released, they fell out of fashion years ago as people began to take a dim view of South Africa's apartheid practices, and have never fully recovered.

As long as you stick with the major bullion pieces, such as AGEs, maple leafs, pandas, KRands, etc. you'll do fine. I've been buying this stuff off and on for the last 40 years.