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Fri Sep 12, 2008 1:33 pm by cvac01

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 Questions about buying Gold

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cvac01
Seasoned Veteran
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Number of posts : 253
Registration date : 2008-03-29

PostSubject: Re: Questions about buying Gold   Fri Sep 12, 2008 1:33 pm

Hi Foreshadow,

Haven't been around much since July. Market too ugly to watch and the summer doldrums among other things that kept me busy.

Anyways, I found this recently on another forum and thaught you might find it interesting and/or helpful.

Cheers,

cvac01

If you want to buy some but have the company you buy it from look after it for you, then the options are:

http://www.goldmoney.com/
Gold Money (James Turk):
Gold = 3.39% over 6k, Silver = 5.25% for <6k, 4.99% for more.
There is no storage fee for gold in the London vault; only a monthly account fee. A storage fee of 0.24% per annum (2 basis points per month) is charged for gold stored in the Zurich vault, with a minimum fee of 0.1 grams of gold per month.
If you own silver, a storage fee is deducted monthly from the amount of silver in your account. The fee is 0.99% per annum (0.0825% per month), with a minimum fee of 0.2 ounces of silver per month.

http://www.bullionvault.com/
Bullion Vault is cheaper, but don't do silver. Has a more complicated system, but is more flexible.
Charges: http://www.bullionvault.com/help/QuickStart.html (from 2.06% over 2 years)

Another option is The Perth Mint Australia.
http://www.perthmint.com.au/ig_metals.aspx
They do various options. And will store for you and do delivery later if you wish.
Depending on which country you are in, you may need to go through one of the listed brokers in your country.

http://www.newzealandmint.com/



If you want to purchase gold and have it delivered:

In the UK

http://www.atsbullion.com/
In the UK, give these guys a call - I have used them and they are VERY professional and very competitive on pricing for 1 oz bullion coins - you can order over the phone with a debit card and they mail them to you discreetly and insured!!!!

Baird and Co
Prices of coins: http://www.goldline.co.uk/bullionCoinsPage.page

Coin Invest Direct
http://www.coininvestdirect.com/main.php
Prices in GBP: http://www.coininvestdirect.com/main.php?a...rate=pound_rate

Tax Free Gold
http://www.taxfreegold.co.uk/

In NZ

If you are in NZ, I think the best option is:
http://www.newzealandmint.com/
The best option is 24ct gold kiwi coins. No GST, and they charge from 6.5% downwards depending on quantity. But the good thing is they buy them back at the spot price.
So coins work out cheaper than bars, and if you have to use them, more saleable than bars.
http://www.newzealandmint.com
Tel. 0800 696 468 (0800 NZ MINT)


Pensions
Yes you can put pension money into gold.
Here is one example for the UK:

Gold SIPP - Gold Pension
http://www.goldmoney.com/en/gold-sipp.html



IMO if you want to do more trading in gold, then consider ETFs
But, IMO these are not the safe haven that having allocated physical gold is.
You will need to check the prospectus carefully to see what you are actually buying.
Here are some examples:
http://www.etfsecurities.com/en/updates/do..._Fact_sheet.pdf


Reading
IMO you should only invest in what you understand. So inform yourself before doing anything.

For daily information from an experienced gold expert.
http://www.jsmineset.com/

FUNDAMENTAL REASONS TO OWN GOLD
BY: JOHN EMBRY, CHIEF INVESTMENT STRATEGIST OF SPROTT ASSET MANAGEMENT INC. &
SPROTT GOLD AND PRECIOUS MINERALS FUND.
http://www.sprott.com/pdf/reasons_to_own_gold.pdf

This is a very long but very informative read about gold.
http://www.gata.org/files/RedburnPartnersG..._11-12-2007.pdf

Gold Is Money - Deal with It! - Remarks by Robert K. Landis to the Association of Mining Analysts, London, England, October 2, 2003
http://www.goldensextant.com/LandisAMA.html

For daily news and great articles:
http://www.marketoracle.co.uk/Topic3.html

http://www.dollarcollapse.com/

For a good background read, and good info on BV (unfortunately BV Watch has closed. You may be able to find cached versions)
Bullion Vault Watch - discusses the different ways to sown gold, including whether Bullion Vault is safe, including charts of how much gold they have.
http://bullionvaultwatch.blogspot.com/
This article: http://bullionvaultwatch.blogspot.com/2008...vault-safe.html
Found from this iTulip thread: http://www.itulip.com/forums/showthread.php?t=3143

You can get the latest prices from:

http://www.bullionvault.com/gold-price-chart.do


From: http://www.kitco.com/market/bp_charts.html

Neat multi-currency chart
http://www.kitco.com/gold_currency/charts.htm?gbp


From http://www.kitco.com/images/live/gold.gif

And Silver in US$:

From: http://www.kitco.com/images/live/silver.gif


At the moment 1x 1oz coin costs around 460 or NZ$1200.
So it's possible to invest say 10 or 20% of your liquid portfolio in gold, how ever much money you have.

IMO think about buying gold like buying another currency. There is an exchange rate between all the paper currencies and gold. That's why the price of gold fluctuates relative to the paper currencies.
Gold is a currency that cannot be printed, and pays no interest.

Also, please remember the price goes up and down. Even during a gold bull market, there will be large fluctuations in the price. IMO buy and hold, and ignore the dips in between.
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Foreshadow
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Number of posts : 1
Registration date : 2008-07-01

PostSubject: Questions about buying Gold   Tue Jul 22, 2008 9:51 pm

I'm interested in buying gold, but with Paypal. I would normally buy gold from reputed sites such as www.mint.ca or www.kitco.com or even possibly www.gainesvillecoins.com. But those sites don't accept Paypal.



The only website I found which seems to be decent is www.lynncoins.com. Unfortunately I haven't found any reviews online or anything about that company. Their ebay account has 286 replies (100% positive). But their contact emails are lynnj@bellsouth.net and jlynn@aeneas.net. Nothing even @lynncoins.com. And with all the replicas running around on the net I don't want to take any chances (such as ebay...). Going from a 1Oz 1000$ coin/bar to a worthless replica.



And when I buy a coin/bar, is there any way to verify the quality ? I suppose I could go to the Royal Canadian Mint in Montreal but I'm unsure if they do checks.

I'm mostly looking for Suisse Credit or Pamp bars (most economic) and Canadian Maple Leaf coins (might as well since I'm Canadian).



Is the 999,9 pure shown on Suisse Credit bars the same quality as the .9999 purity shown on the canadian mapple leaf coin ?

If the market crashes, will the ticker GLD still keep the same "~value/10" as gold ?



PS: I know this is a little out of topic, but it is still about investing.



Thanks.
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