Where To Invest In Gold

[splaying]

I have three addresses -- one in Massachusetts; one here in Buenos Aires and my third is at the same zip code as above 34747 for the precious metals.. I have no score to make here as I am retired after being in the Finance business a good part of my life. Steering people to organizations of this type especially for small investors is not being nice to them at all. They need to work with a large corporation who might see them in a better light. As I said before a purchase of 5k is too small to be thinking of in this commodity market as it is a pure waste of money. One needs to purchase the ingot and not the coin. the coin you are paying two fees yet of course you see only one. the ingot is pure gold so one fee. the coin needs to have the ingot turned into the coin. makes sense doesn't it...well now if you take delivery of the ingot then you need to store at home. no delivery then you need to store at a bank. yes that means another fee. the upside of it though is that you will not need to have is assayed again if you wish to sell it. if you take delivery then assay is necessary. think through the fees .. part commissions; storage; assay; on both the purchase side and the sell side.. who do you think profits on the deal.. not you at all. If you have a great wealth then it might be plausible to go this direction. There are other ways to achieve the same purpose but I will stop here as I hope I have made my point. I was both in the commodity business as well as the equity and bond business for most of my life. While at the university I traded sugar contracts on the commodity exchange so much so my mother was worried delivery of the contracts might be made which would mean a deposit of some 112,000 pounds of sugar to the house.. more than she needed to sweeten her coffee.

 

[sleslie23]

When I hear people talking about buying gold, I think of the old adage "If you have to ask, you can't afford it."

Here is all you need to know about making it in the gold market:

http://www.youtube.com/watch?v=hqMCeA_1XW8

 

[syngirl]

Finally I have a solid answer for my boss in Canada next time he asks why argentines don't just "buy gold" as if it were the easiest thing to do in the world. I've always said that you can't actually trust the purity of the product here, but I didn't realize that there were actually CFK rulings all over this... Also, I always find it funny that my boss suggests buying gold, since his wife was the PA to some guy back home who bought $30k in gold bars, then was silly enough to store them at his house, and then even worse, was so proud of them that he pulled them out and showed them to practically anyone that came over.... A few months later, he was shocked when he found the equivalent of 10k of them missing! Hearing that story just made me laugh, silly gullible canadians trusting too many people... Need to be more like the argentines that store everything in the roof, the walls, the back of the toilet etc and never say a word about it...

 

[jago25_98]

So finally that door closed. It was open for far longer than I expected. I was amazed to see it selling in Banco Piano only a year ago.

People talk about gold all the time but never on how to test it or sell it on safely.

I'm always interested in how people respond in Argentina. It's worrying when I'm seeing the same things in Europe because I can see that it's not a case of a quick short sharp shock, lose faith in the currency and switch but a very very long drawn out mire.

Regards Ingots. I was chatting to a guy in the Perth Mint Australia about this and ingots are generally more about looks. They are usually worth more than the gold they contain. That makes them compilcated and I don't think that's a sales technique for him as they were selling ingots too. The thing is that it's hard to assay how much gold is in them. That's why we have the investment bars.

As for getting it across borders should you emigrate, well that's a risk too. The standard worldwide is that you need to declare anything worth over $10,000 and that includes gold but currencies are falling so fast and that $10,000 is €10,000 in Europe and in £ it's becoming less fast. There could be a situation where the Arabs or Asians pay much more but can you get it there? The answer is that you then need to look at ViaMat et al. and then you're needing big amounts to cover the cost. Perhaps the simplest is to go to Uruguay, rent a safe and buy there? People knock it but the possibilities with BTC are so much more. I won't mention it's full name here.

 

[arlean]

Many thanks you guys for the good information. It's pretty much what I thought but I had heard something conflicting.

It is easy to purchase gold a LOT of places. Just not in Argentina.

 

[arlean]

Many thanks you guys for the good information. It's pretty much what I thought but I had heard something conflicting.

It is easy to purchase gold a LOT of places. Just not in Argentina.

 

[Jenklu]

Guys check this place, you buy gold in the States and you pay using an Argentinean credit card (you pay in pesos) www.1791preciousmetals.com

 

[splaying]

I do not know why Jenklu keeps mentioning the place for buying gold which is located in Celebration, Florida unless he has a monetary reason to do so. Why buy from a place which has basically a no name reputation. One needs to consult people who are in the financial services business. It is where I spent my life but am retired now. In any case look at this site. www.ubs.com type in buy gold then go from there I am sure some of the discount brokerage firms can assist you too.

 

[Inferno.]

I do not know why Jenklu keeps mentioning the place for buying gold which is located in Celebration, Florida unless he has a monetary reason to do so. Why buy from a place which has basically a no name reputation. One needs to consult people who are in the financial services business.

Exactly. You are not buying a mattress, there are things involved that you need to know to avoid mistakes. If you cannot learn on your own, you should check with someone who knows this stuffs and can give you some tips. For example:

- Reputation of store (avoid fakes, high price, guarantees). Is there anyone here capable of detecting if something is made of pure gold or is gold plated? You need to trust the site where you are buying.

- Spread of the commodity. They trade just like currency, but a krugerrand (south african gold coin) for example has a buy price of 1650 USD but the sell price may be around 1200 USD. You need to know this before buying before you can lose a lot of money if you need to sell right away. Gold is usually for the long haul (at least I see it like that).

- Liquidity. Is not the same to buy a coin "Argentino oro" than a Krugerrand or a gold bar. You need to take into account that these are products, you are not buying gold by the pound. It's like saying "meat". There are different categories, prices, cuts, manufactures, countries. It matters if you need to sell this in a future because you can be storing gold bars.. that no one will want. It depends on the year is was made, by whom, all those stuffs matter.

I recommend several places.. like:

http://www.apmex.com/
http://www.kitco.com/
http://www.gainesvillecoins.com/

Guys check this place, you buy gold in the States and you pay using an Argentinean credit card (you pay in pesos) www.1791preciousmetals.com

I don't like that place. At all. First, it doesn't seem to have much reputation on the internet. Second, the prices of the products don't seem to be updated very frequently as they seem to be fixed into the website. Third, I'm checking the price of the Krugerrand and they are selling it at 1890.46 USD. Other places, like apmex, are selling it at $1,669, which is the price. Fourth, it doesn't say ANYTHING about the year, the conditions, grade, if it has a certificate of authenticity, uncirculated or not, nothing.

Fifth.. if you try to buy it, they tell you you need to be a "PlatinumCLUB" member. They ask you to send a copy of your passport, driver license or dni and a utility bill. If they are in the US.. why do they put a DNI there? That seems weird. It's like saying they need a CIE (Italian DNI). Too specific for a place that seems to be dealing with US customers. Besides, why do they need this? Not really secure and they don't say why they need this while others don't. Sixth.. they don't even specify how you are going to receive the product, do they ship, do they have a store? how much does it cost? You are buying blindly. Is not a good sign when the store doesn't give you details of them.

Seventh.. the address, 619 Celebration AV, seems to be pointing to a place in florida which also has stores of other stuffs and seems to be . For example, Remax (Kathy Yeasted Realtor, 619 Celebration Ave, Celebration, FL 34747, Florida License #SL 3211496) or the "Rosebourne Property Management", 619 Celebration Ave, FL 34747, (352) 243-7620. Just google the address (and check google street). There seems to be a residential apartment there of 2-3 stories.. not exactly the place were you want to be dealing with gold.

So... stay away from this site.

 

[splaying]

JENKLU --- WHY HAVE YOU TAKEN THE TIME TO TELL EVERYONE TO LOOK AT THIS SITE .. SAYING IT MORE THAN ONCE, TWICE, AND NOW BAD MOUTHING THEM ..... MAKES LITTLE SENSE TO ME.. stick with a major financial firm if you truly wish to make such a trade -- there are much better ways to make money than the gold market. There are dividend paying stocks which might be of better use to many people too. Many ways to go. all the best.