Where to buy gold.

redraptor

Dryer sheet wannabe
Joined
Dec 26, 2019
Messages
19
Location
Greenville
My wife has been insisting that we should invest in gold. I believe she is talking about physical gold to put in our safe in case of a doomsday scenario. I'm skeptical on it as an investment other than to balance our porfolio (EFT) and I believe in a doomsday scenario having it may be dangerous.
Anywho, the posts I've been reading this year don't really mention where you buy it other than Costco. I've not asked a FA directly about it yet but gold never comes up in any conversation in the past. I know nothing about physical gold whether it be coins, bars, or jewelry. Don't know what's fake or real and don't want to find out the hard way.
Any input would be appreciated.
 
Online Dealers: Websites like JM Bullion and APMEX offer a wide range of gold bullion products, including coins, bars, and rounds. They provide secure shipping and often have competitive prices.
 
Coin shows. I like America Gold Eagles coins (AGE's). Usually get them for a few dollars over spot. Canadian Maple Leafs and Krugerrand's are also popular. Be careful when handling Maples Leafs since they are 24k gold and scratch easy. Stick with 22k coins, which are durable.
 
The reason you’re hearing a lot about Costco is because you can actually buy gold below spot. They sell it at a competitive price and then if you have an executive membership, you earn 2% in rewards. Use a Fidelity credit card and you get another 2%. So the net price tends to be below spot.

You don’t really sound like you’re on board with buying gold. Personally, I’m with your wife. I like having a small amount of gold in the house. My gold holdings are about 1-1/2% of my total portfolio. A very small amount. In an actual doomsday scenario, I’m not sure how much value it will have - you can’t eat it. But I can imagine some scenarios where it could make a difference. Though I have to admit that my main reason for having it is because it’s pretty (an emotional purchase that may come in handy).

If you want to invest in gold, an ETF is the most practical way. Look at GLD.

Then there’s people like my friend who converted his entire IRA into gold. There are companies that store your gold for you versus something like GLD which just follows golds performance. His rationale is that our currency is going to be worthless and this will save him. One point here that’s legitimate is that unless you’re willing to put a lot into gold, it’s not going to make a meaningful difference if our currency fails or we have hyper inflation.

So, why do you really want to buy gold? One caution I have is that gold has done really well of late. Your wife may be interested in gold because it’s in the news. That’s typically how the average Joe ends up buying high and selling low.
 
My wife has been insisting that we should invest in gold. I believe she is talking about physical gold to put in our safe in case of a doomsday scenario.

I’ve researched doomsday scenarios extensively, watching scientific documentaries like The Last of Us, World War Z, etc., and in those scenarios beans and bullets seem way more valuable than gold - which is somewhat useless.

(I do concede that there could be a flaw in the science I’ve been following on this topic…)
 
I’ve researched doomsday scenarios extensively, watching scientific documentaries like The Last of Us, World War Z, etc., and in those scenarios beans and bullets seem way more valuable than gold - which is somewhat useless.

(I do concede that there could be a flaw in the science I’ve been following on this topic…)
Well, i have plenty of the first two, so maybe I'll dabble a little in the last one. :cool:

Was not aware (missed) the Costco Gold option. I amy take a look at that. I have one 0.5oz coin that my Dad gave me that his Dad bought when he was working at a Hale Gold Mine in SC. It stopped, but then re-started a while back, so it is pretty cool having the coin.

Flieger
 
Gold, five year chart. It has been hitting new all-time highs on a monthly basis for over a year. Probably not a good time to "invest" in gold. However, if it makes the wife feel better...


1735222509217.png
 
In a doomsday/total collapse scenario, I'm skeptical that gold would rank very high in things of value. Guns, ammo (and lot's of it), canned goods, clean water and defensible shelter would all be at the top of my list.
 
Last edited:
You will need loads of guns & ammo to kill all the zombies...
 
We have about $50K in inherited gold coins. I treat them as has been often suggested as a "store of value" not an investment. We live in Europe, and while it is tempting to sell now at a local peak and then buy more in the future when it has drifted lower, I view it as an emergency-escape-to-somewhere-else fund. Probably foolish thinking, but where I live is on roughly the same latitude as Odessa and about 1,400 miles away as the radioactive crow flies.

-BB
 
This is a good site to do a search for gold. It has prices from the major retailers aggregated on the site.

 
In a doomsday/total collapse scenario, I'm skeptical that gold would rank very high in things of value. Guns, ammo (and lot's of it), canned goods, clean water and defensible shelter would all be at the top of my list.
My thoughts also..

My old boss always keeps saying about the collapse of the dollar and now had $2.1 million in gold... but if the banking system collapses then it really does not matter...

Then again he also has a big supply of bullets which might help...
 
If anyone lets it slip there is "lots" of gold in the house, expect a home invasion over the next number of years.

OP - I think clarification of why to buy gold would be important.
 
In a doomsday/total collapse scenario, I'm skeptical that gold would rank very high in things of value. Guns, ammo (and lot's of it), canned goods, clean water and defensible shelter would all be at the top of my list.
I agree with your list and I'd also add crypto to the not best in a doomsday/ collapse scenario ...However if pressed to choose between the 2 I'd vote for gold.
 
My thoughts also..

My old boss always keeps saying about the collapse of the dollar and now had $2.1 million in gold... but if the banking system collapses then it really does not matter...

Then again he also has a big supply of bullets which might help...
In a complete banking and "society" collapse, "if gold still had any value", you won't have it very long without a good supply of guns and ammo. Sorry folks but that is the way it would be. End of story.
 
Last edited:
You might have a tough time getting change when trying to purchase ammo or a can of beans with a 1oz gold coin. A silver dime (pre 1965 - worth about $2.15 at today's silver price) might be more practical if trying to do commerce after a total collapse.
 
I think gold is a terrible investment in general, and especially now that it's near highs. I guess if you think the dollar is going to collapse, it's certainly more appealing. For the doomsday scenario I think a much better investment is knowing how to make electricity, clean water, food, and fuel for personal transportation, and whatever equipment you need to make that happen.
 
If anyone lets it slip there is "lots" of gold in the house, expect a home invasion over the next number of years.

OP - I think clarification of why to buy gold would be important.
I was alluding to that in my post about being "dangerous"
My wife has a cache of old coins, uncirculated coins, and silver certificates. She believes the gold will be tangible in a collapsed dollar situation and my be correct but I believe the barter system would be safer.
It's an ongoing negotiation.
 
Lots of scammers present in the gold market. Check out news on Oxford Gold Group and First State Depository just from the last two years.
 
My thoughts also..

My old boss always keeps saying about the collapse of the dollar and now had $2.1 million in gold... but if the banking system collapses then it really does not matter...

Then again he also has a big supply of bullets which might help...
The idea that if the banking system collapses that it would be a complete implosion is not realistic. Banking systems have collapsed many times over the history of mankind and those with the gold were the ones that made the new banking rules. The Dutch banking system collapsed in the 1700's the Bank of England nearly collapsed multiple times with long depressions, France in the late 1700's leading to revolution. During the Communist takeover of Cuba, the exile was called the Golden exile because the people who escaped after Castro took over and closed all banking were wealthy people with access to gold, those with guns were shot and killed. You can look at Germany during hyperinflation, the implosion of Venezuela, the overthrow of Vietnam where the entire populace lost all of their money in banks which was confiscated by the new government. The programmer I worked with escaped to Canada from Vietnam when his father had gold buried in his back yard that he used to buy his son out of Vietnam where he made it to Canada (Quebec) via Switzerland and went to work in Canada to earn enough money to pay the several hundred thousand dollar exit tax for his family to emigrate to Canada in the 1980's and a large Vietnamese contingent is still in Quebec from those that held the gold to escape. Bullets do you no good as the powers taking over immediately will confiscate those or kill those willing to use them.

Only gold which can be hidden and hold extremely high value in small quantities provides the safety in a SHTF scenario. Holding does not have to be in all one ounce quantities either, that is a ridiculous argument, holding a reasonable quantity of grams of gold is easy, affordable and advisable. A gram of gold is like holding a $100 and will buy a weeks worth of groceries in a SHTF scenario when goods and funds are scarce. See Venezuela during there crisis.

Gold has a 50 year rate of return of 6.8%, which is probably closer to actual rate of inflation rather than the officially posted 3.7% over the same length of time, as commodities have returned a similar return to gold.

What gold holdings are is money with no offsetting liability that offers inflation protection for the future. It is a holding that is far superior during most times to long term bonds in both return of investment and low tax impact as a holding.
 
In a doomsday/total collapse scenario, I'm skeptical that gold would rank very high in things of value. Guns, ammo (and lot's of it), canned goods, clean water and defensible shelter would all be at the top of my list.
+ one more.
I have some gold coins but they are part of a coin collection and not an investment in gold per se. The price of gold depends too much on international demand which can be fickle. It is more of a speculation than an investment.
 
My concern. If you purchase actual physical "gold". You buy at "retail". Sell back "wholesale" price.
As a previous poster mentioned. Better to buy "gold" mining stock. More liquid.
 
In a complete banking and "society" collapse, "if gold still had any value", you won't have it very long without a good supply of guns and ammo. Sorry folks but that is the way it would be. End of story.
My thinking also. Not at all worried about letting it slip if I have gold stored at home but can’t imagine having a huge quantity. If it is stored by a 3rd party I do not expect it would be available in a doomsday scenario even if you have plenty of guns and bullets. Maybe I’d keep $50k at home.
 
Back
Top Bottom