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Old 06-07-2020, 07:26 AM   #61
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I’ve got maybe $40-50k at today’s prices in gold and silver US coins, all bought many years ago, all pre internet. Small investments at the time, basically a continuation of a childhood hobby. Sold a a lot of silver circulated coins around the time I graduated college when the Hunt brothers were trying to corner the silver market. I needed the money and the price was higher than it had been in years.

Over the years after that I bought Morgan and Peace numismatic dollars in mail order auctions with others to save on costs & shipping. It was funs and relatively cheap at the time, usually less than $18/coin, but rarer and MS-60+ coins went a bit higher, and I built a date set of both series, plus extras.

All the gold coins were either Eagles or numismatic interesting ones. I remember paying about $400 for the last gold double Eagle, so it was a while back. I enjoy the feeling of handling the real metal and the historically interesting aspect of it. But if needed because the SHTF, then it would be easy to let them go, since I never expected them to increase this much at the time I bought them.
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Old 06-07-2020, 12:48 PM   #62
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I bought on APMEX and I also bought from the Littleton coin company. Have no idea what is really efficient.
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Old 06-08-2020, 09:35 AM   #63
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on my wish list

This one is on my wish list. really cool addition to any collection, plus it's unusual enough to pull out and look at from time to time.





https://www.apmex.com/product/92288/...-coin-valcambi
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Old 06-08-2020, 09:57 AM   #64
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This one is on my wish list. really cool addition to any collection, plus it's unusual enough to pull out and look at from time to time.

https://www.apmex.com/product/92288/...-coin-valcambi
That's pretty neat. I have zero interest in gold, but I find objects like that just give me pleasure. OT/sorry, but do you know Miguel Berrocal?
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Old 06-08-2020, 10:21 AM   #65
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I think you also need to ask the corollary question of what is the most efficient way to sell gold. I can tell you that APMEX charges a hefty fee to "appraise" your gold before you can sell it to them. And then they buy at a discount to spot. I calculated the transactions costs to be 10% for gold eagles.

Or you can try to buy milk with it.
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Old 06-18-2020, 09:28 AM   #66
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[QUOTE=OldShooter;2440170]OT/sorry, but do you know Miguel Berrocal?

Nice memory! I owned that same Berrocal sculpture, as well as another of his, and enjoyed playing with them for decades. Finally sold them on eBay for more than I originally paid. I guess their new owners are enjoying them as much as I did. Marvelous, unusual pieces.
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Old 06-18-2020, 02:50 PM   #67
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I guess that I don't get it. Any currency is only as good as the population's willingness to use it as an exchange medium. If the SHTF to the point where the US$ is worthless as an exchange medium, what makes you think that gold and silver will still be accepted as an exchange medium. None has any practical value other than people's historical willingness to exchange but in that scenario that history may be meaningless.


PM in that scenario is the only real currency. The currency that paper money represented before too much is printed and itís value sinks. People will always accept gold and silver as prime.
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Old 07-22-2020, 06:44 PM   #68
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Physical gold took a healthy jump up today - over $1870 as a bid price.

https://www.ajpm.com/
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Old 07-22-2020, 06:55 PM   #69
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I should have bought when it was $1300, but I wanted to wait for $1200.

Then there was covid.
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Old 07-22-2020, 06:58 PM   #70
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Silly me waiting for a dip to buy. Have been investing in non-precious heavy metals in the meantime which is looking to be a home run.
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Old 07-22-2020, 07:12 PM   #71
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Getting back to the OP's question as well as numerous posts since then about storing physical gold, it's important to understand just how risky safety deposit boxes are:

https://www.nytimes.com/2019/07/19/b...box-theft.html

All of which is by way of saying that IMHO gold is "SHTF' insurance not in a literal sense (because there's really no such thing) but as an asset whose performance is truly uncorrelated with the stock and bond markets and which tends to do well in times of currency debasement, sociopolitical upheaval and flights to safety. And 1% isn't going to do it, but 10-20% (taken from the equity side) will:

https://portfoliocharts.com/2019/08/...r-investments/
Well, they do have your contact info, assuming you are paying the bill for the box. That said, do you have a better idea about where to keep it? It's obviously not perfectly safe in a safe deposit box, but I don't think I have a good alternative.
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Old 07-22-2020, 08:35 PM   #72
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Physical gold took a healthy jump up today - over $1870 as a bid price.

https://www.ajpm.com/
And your point is?
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Old 07-22-2020, 10:15 PM   #73
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Making no point - it was a surprise to me when I checked to see it up $59 in about 2 weeks and I figured some might not check real regularly and be similarly surprised.
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Old 07-22-2020, 10:49 PM   #74
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I have a small amount of gold and silver. Mostly in American Eagles or a few other major national coins. Also bought some collectibles like the America the Beautiful Parks coins. Itís a tiny portion of my portfolio and I havenít bought anything in years.

I remember making most of my purchases from either apmex.com or providentmetals.com with the rare purchase from other online retailers like JMBullion.com. Went to a couple of coin shops back in the day but just looked. I have magnets to check for fakes but never had an issue with online dealers. Iíve never sold anything so I canít speak to that side of ownership.

I have a small safety deposit box for what little gold I have and some of my silver. If Iíd buy again for gold I like the 1/10 ounce coins for smaller values per coin. The silver I bought mostly 1 oz coins.

I consider it a hedge against inflation and and alternative to stocks and bonds but they donít pay dividends and to securely store them requires money so they arenít my first choice as an investment. Iíd also consider other options for your money that tend not to correlate to stocks.
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Old 07-22-2020, 11:00 PM   #75
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I forgot to mention but when I was following precious metals closely and discussing them with others who hold them there were a couple of different strategies for making money.

One was getting to know a certain niche collectible form like certain bars that are in high demand by collectors. Keep an eye out for these specialty bars and flip them for profit.

The other way and a frequent way to make money off these metals is to play the ratio game. Follow the gold/silver ratio and switch out from one to the other based on the relative price moves of each. There are great buying opportunities when that ratio gets to high or too low relative to historical averages. I know several people that have made good money doing this kind of trading between gold and silver.
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Old 07-23-2020, 12:31 AM   #76
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Silly me waiting for a dip to buy. Have been investing in non-precious heavy metals in the meantime which is looking to be a home run.
True. If you have PMs you may also need non-precious heavy metals to "balance" your portfolio.
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Old 07-23-2020, 12:39 AM   #77
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I forgot to mention but when I was following precious metals closely and discussing them with others who hold them there were a couple of different strategies for making money.

One was getting to know a certain niche collectible form like certain bars that are in high demand by collectors. Keep an eye out for these specialty bars and flip them for profit.

The other way and a frequent way to make money off these metals is to play the ratio game. Follow the gold/silver ratio and switch out from one to the other based on the relative price moves of each. There are great buying opportunities when that ratio gets to high or too low relative to historical averages. I know several people that have made good money doing this kind of trading between gold and silver.
(Curious if anyone has a theory why PMs are surging NOW - even though the stock market is "recovering.")

Just my approach, but I never look at the individual components of my portfolio as "money makers" as such. I just hope the whole portfolio will exceed inflation in the long run. PMs as a "smoothing" (somewhat non-correlated "ballast") component are what I hope for. So far - LONG term - it has worked for me. The potential SHTF quality thought to be associated with gold is an added plus but YMMV.
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Old 07-27-2020, 08:31 PM   #78
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I have some gold to be scrapped. Any recommendations?
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Old 07-27-2020, 11:11 PM   #79
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Haven't sold to them, but Affordable Jewelry and Precious Metals - AJPM - is in Portland and has been around a long time. I use their site for prices.

https://www.ajpm.com/ for addresses and phone
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Old 07-28-2020, 11:09 AM   #80
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I seriously considered buying gold bars, coins, fine jewelry, and “casting grain”. Like most brokers, and bankers the gold dealers I spoke with were looking for a relationship. That's spooky to me since I wasn’t interested in regular buying and selling. As the spreads were significant. I decided that these dealers wanted me to actually hold their inventory, since it’s taxed.
I wound up buying IAU. Never regretted it. But hey, IAU won’t get me seat on the last chopper out of Dodge either.
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