Buying gold for investment

[fred mertz]

From what I've been reading gold coins are supposedly the best way to prepare for the sad economic future; here, there, everywhere. I'm wondering if anyone has or knows anyone who bought gold coins or gold boullion in BA? Returning from a trip with gold sounds scary, as does buying gold at a bank or gold dealer here. There must be an answer. Maybe not????

 

[French jurist]

You can buy gold from the Banco Central de la Republica Argentina. It's safe.
I'd consider gold more as an insurance than an investment.
It will keep on raising but once it will fall, that will be sharply (where will you be "in the train"?). Also see the recent swings with Silver...

and of course, physical gold only (I'm sure some people are still dumb enough to buy gold "on paper").

 

[Ries]

When you buy gold coins, you will be charged todays world rate, PLUS a handling fee.
If you decide to sell them at some point in the future, you will be paid that days rate, MINUS a handling fee.

So gold has to go up enough to cover both fees.

Hope you have a good safe.

 

[HenryNisental]

Also when you buy gold or dollars here they take your name, address, telefone numbers, etc; so you may be set up for a stick up.WATCH IT!!!!

 

[TrevorCito]

From what I've been reading gold coins are supposedly the best way to prepare for the sad economic future; here, there, everywhere. I'm wondering if anyone has or knows anyone who bought gold coins or gold boullion in BA? Returning from a trip with gold sounds scary, as does buying gold at a bank or gold dealer here. There must be an answer. Maybe not????

If you have thought through your investment options and have decided that gold is for you then there are several ways to buy it. You can buy through any major bank in bs.as but be prepared to pay a small fortune in fees. The spread, buy/sell bid/ask through banks is where they make their money so don't expect a bargain. Alternatively you can buy an exchange traded fund (Eft) thats regulated and backed with real gold holdings. This approach is less expensive but riskier. Derivatives are another option (excuse the pun). You can also buy shares in a gold companies. Each approach has its own set of benefits and risks.

 

[elhombresinnombre]

If you are expecting a nice middle-class apocalypse where life more or less goes on as normal but everyone trades in metal then go ahead. But if it happens to be a rather more apocalyptic apocalypse remember that you can't eat gold but peso notes may be shredded and boiled then enjoyed as a nourishing soup.

 

[Canick]

buying gold in BA is as safe as going to your bank or casa de cambio and removing the same amount in dollars. one coin or bar is worth around $1500 so your risk is based on the amount you want to invest.
This is something that happens very often so don't be sold on the paranoia that there is a special tactical team positioned and ready to steal your gold. At the same time, don't be a fool, just use common sense. start slow, buy bit by bit. get a safety deposit box in the bank if you want to buy large amounts and then slowly move it out of there if you want at some later date.
my advice obviously, is to buy it physically, not as an ETF. gold can both be insurance AND an investment. as we said before, no one knows what the future holds, but my guess is after June 30th the FED will (short term) let the market cool, but as the overwhelming deflationary forces that are still in existence take hold again, Ben will have to return to his earlier strategy and flood the market with more money. they may not call it QE 3, but there will be something equivalent. US Elections around the corner, unemployment high, all spells more cash dropped into the market to make Joe MainStreet feel that things are ok. More liquidity, under whatever name, is bullish for gold and should send it (in my humble opinion) up around 1600-1800 in the next 12 months.
I look at Gold in a different way. all fiat currencies (Dollar, Euro etc) are exponentially losing their purchasing power. I wouldn't keep pesos in a safe for my grandchildren because I have no faith it would be worth anything long term. Times have changed and sadly I now feel the same way about the dollar. I do however believe gold is a medium that will maintain its value for generations.
good luck
n

 

[fred mertz]

I have ETFs and think that is probably the best way to go for those living in BA. I guess that I'm one of rhe dumb people who buys gold on paper. I always think of the pregnant woman in La Plata who left her bank with US$20,000, not too long ago. Imagine opening an envelope sent from a gold company in the U.S. and finding it empty? Always the pessimist

 

[gouchobob]

Ever hear the story about Joe Kennedy that one day he got a stock tip from his shoe shine boy. He decided if shoe shine boys are giving out tips the end was near. That very day he sold all his stocks and missed the crash of 29. I remember a few years ago just before the housing crash listening to a check-out clerk in a grocery store explain how she was quitting her job to become a realtor. I remember about ten years ago people were running around investing in internet stocks. Right now you can watch TV in the U.S. and every other commercial is somebody touting gold in some form. On every corner in the U.S. there are now stores proclaiming "we buy gold". Hate to sound negative but gold is just another bubble waiting to burst. Buying gold is not an investment its speculation, when the bubble pops its likely to be sudden and severe. I wonder if investment advice on gold you receive on a site like this is the modern day equivalent of the shoe shine boy.

 

[jp]

When glenn beck and annoying internet pop-up ads are "advising" you to do something, best course of action is to generally avoid it like the plague.