Buying gold

[Caribbean Cool]

Does anyone have experience buying physical gold in Buenos Aires? Coins or silver also? Not stocks...the real thing please.

 

[lunar]

Now in addition to people wondering around in search of an open Western Union office, we will have people looking to buy gold. Nice.

Banco Ciudad sells investment-grade gold.

Banco Ciudad - Oro

Invertir en oro

www.bancociudad.com.ar

Or you can try calle Libertad between Ave de Mayo and Corrientes for gold jewellery.

 

[Caribbean Cool]

Not just Western Union...not just more gold...lingerie too.

 

[EL_TIGRE_de_Tigre]

Does anyone have experience buying physical gold in Buenos Aires? Coins or silver also? Not stocks...the real thing please.

You DO NOT WANT TO BUY THE METAL as the metal itself. LET ME EXPLAIN!

It is far better to buy the popular ONE OUNCE gold coins from any major country. You have the US AMERICAN EAGLE, The CANADIAN MAPLE LEAF, THE KRUGERAND, THE GOLD SOVEREIGN Etc ...

Why is this?

Because, and this is very IMPORTANT ... the coins have ALREADY BEEN ASSAYED and stamped / rated .999 FINE. This makes it very easy to and FAST when you go to sell them because your buyer will trust the content of the coin. They will "SCALE" them to make sure the are full weight (Such that some of the metal has not been scraped off and accumulated!) then pay out in a very straight forward, rapid manner. If you have the metal only ... in no DISCERN-ABLE FORM >>> Most buyers will insist upon assaying it before purchase ... EVEN if it is from a major mint, with the mint stamp in tact. IT IS ALL ABOIUT NOT BEING RIPPED OFF.

BUY THE MAJOR ONE OUNCE COINS and save yourself the trouble later on.

Also, the markup on the one ounce coins is usually 1 percent or lower depending upon the size of your purchase. YOU WANT TO MINIMIZE SLIPPAGE as that is your profit or loss when you go to sell!!!

 

[DomoDomo]

If things get really bad you are going to want the major country silver one ounce coins as well. Better for transactions and making change if your gold one ounce coins become worth $5000 plus each.

 

[Caribbean Cool]

You DO NOT WANT TO BUY THE METAL as the metal itself. LET ME EXPLAIN!

It is far better to buy the popular ONE OUNCE gold coins from any major country. You have the US AMERICAN EAGLE, The CANADIAN MAPLE LEAF, THE KRUGERAND, THE GOLD SOVEREIGN Etc ...

Why is this?

Because, and this is very IMPORTANT ... the coins have ALREADY BEEN ASSAYED and stamped / rated .999 FINE. This makes it very easy to and FAST when you go to sell them because your buyer will trust the content of the coin. They will "SCALE" them to make sure the are full weight (Such that some of the metal has not been scraped off and accumulated!) then pay out in a very straight forward, rapid manner. If you have the metal only ... in no DISCERN-ABLE FORM >>> Most buyers will insist upon assaying it before purchase ... EVEN if it is from a major mint, with the mint stamp in tact. IT IS ALL ABOIUT NOT BEING RIPPED OFF.

BUY THE MAJOR ONE OUNCE COINS and save yourself the trouble later on.

Also, the markup on the one ounce coins is usually 1 percent or lower depending upon the size of your purchase. YOU WANT TO MINIMIZE SLIPPAGE as that is your profit or loss when you go to sell!!!

Tigre...well said. I don't think I mentioned exactly what form of gold I was looking for. But your comments are appropriate. Caribbean Cool-Former VP of Mitchum, Jones, & Templeton, Stock Exchange Specialist, Principle trader on the CBOE and member of the NY Futures Exchange. But you can teach an old dog new tricks sometimes.

 

[EL_TIGRE_de_Tigre]

If things get really bad you are going to want the major country silver one ounce coins as well. Better for transactions and making change if your gold one ounce coins become worth $5000 plus each.

If the intent is to spend them like money at some future point (As opposed to storing them as a safe haven asset that can be very liquid with the potential for appreciation ... ) then yes, I would definitely encourage lesser denomination gold as well as silver coins.

The problem with lesser than one ounce gold (or silver) coins is that they are fractionally more expensive each time you "HALF" them. What does that mean?

It means that two, one half ounce coins will be more expensive to buy than one, one ounce coin.

 

[Ceviche]

I could never figure out how is the market for gold and silver coins in Argentina.

Is there even a demand..And how are the prices..

so if one ounce American Eagle gold coin in USA costs today as much as 1850 usd..how much will it be here today - 1850 x 94 = 173900 pesos or much more?

 

[EL_TIGRE_de_Tigre]

Tigre...well said. I don't think I mentioned exactly what form of gold I was looking for. But your comments are appropriate. Caribbean Cool-Former VP of Mitchum, Jones, & Templeton, Stock Exchange Specialist, Principle trader on the CBOE and member of the NY Futures Exchange. But you can teach an old dog new tricks sometimes.

Caribbean Cool,

You are very welcome.

FTR >>> I have been trading my own account for over 30 years. I am knowledgable about many things financial. My specialty is equity options.

As you know, options are ice cubes on a summer day. (They obviously favor the sellers / SHORTS. THETA is a great friend!) But in the hands of the 1% of the non professionals out there who know what they are doing ... LONG DITM options are deadly with respect to leverage and profit potential.

I have made and lost huge sums of money trading options. Thankfully I have made more than I have lost or I would have been cast to the sidelines years ago.

One last thought ... With respect to connectivity ... (And obviously ability!) one can work from anywhere in the world as long as they have a fast and secure internet connection. The financial markets offer UNPARALLELED freedom and earning power.

 

[Ceviche]

El Tigre,

Do you think it will be prudent to invest in silver bar futures?