What is the best way to buy and hold Gold and Silver?
Any ideas?
Cheers
Simon
Any ideas?
Cheers
Simon
Gold coins or bullion ?
- Thread starter simonjulie
- Start date
Interesting how it makes a perennial appearance 
Discussed last year: http://www.somersoft.com/forums/showthread.php?t=24079
I buy bullion,
www.ausbullion.com.au
but recently bought some GOLD on the ASX (as a bit of an experiment, as it can be geared)
http://www.asx.com.au/investor/industry/mining/bullion.htm
Cheers,
The Y-man
Discussed last year: http://www.somersoft.com/forums/showthread.php?t=24079
I buy bullion,
www.ausbullion.com.au
but recently bought some GOLD on the ASX (as a bit of an experiment, as it can be geared)
http://www.asx.com.au/investor/industry/mining/bullion.htm
Cheers,
The Y-man
Thanks Y-Man
I went to a Free seminar put on by this company on the weekend. Got me thinking a bit about the benefits of having a bit of gold kicking around. http://www.anglofareast.com/
Simon
I went to a Free seminar put on by this company on the weekend. Got me thinking a bit about the benefits of having a bit of gold kicking around. http://www.anglofareast.com/
Simon
Thanks Cava
I had a look at their website.
Looks interesting.
Cheers
Simon
I had a look at their website.
Looks interesting.
Cheers
Simon
BTW, as you are in Sydney, you have the luxury of going to Ausbullion to just buy over the counter.
I have to risk my lot being couriered.
Cheers,
The Y-man
I checked out their website too.
Good to know they are there.
Have you seen much fluctuation in the value of your gold since you got in?
Cheers
Simon
Good to know they are there.
Have you seen much fluctuation in the value of your gold since you got in?
Cheers
Simon
I like low value numismatic coins.
'66 round 50c contain .333oz of silver and there are plenty of them around and there are also millions of sovereigns with .2354oz of gold. Common dates in "used" condition are available @ spot+10%. I like them because they are low denomination and easily reccognised so therefore can, conceivably, be traded, and they are inconspicuous when buying or selling. CST and CGT can be avoided if selling at a profit later.
One "investment guru" I read is keen on high value numismatics such as the double eagle rated 63 or 64. They are 1oz of pure gold but can cost thousands of US$. He is looking at investing in collectibles, not "insurance" though.
When buying bullion, you really should buy "allocated". I've read about Perth Mint and they do not promise to physically hold the metal they have sold into un-allocated funds. You should also buy LME certified and serial numbered bars and, under no circumstances, take actual delivery of them or you will need to have them re-assayed before resale.
A little bit of Ag/Au can't be a bad thing.
ps. Do some research on Exchange Traded Funds (ETFs) before going down that track. There have been some doubts raised about their integrity. I have no opinion myself.
'66 round 50c contain .333oz of silver and there are plenty of them around and there are also millions of sovereigns with .2354oz of gold. Common dates in "used" condition are available @ spot+10%. I like them because they are low denomination and easily reccognised so therefore can, conceivably, be traded, and they are inconspicuous when buying or selling. CST and CGT can be avoided if selling at a profit later.
One "investment guru" I read is keen on high value numismatics such as the double eagle rated 63 or 64. They are 1oz of pure gold but can cost thousands of US$. He is looking at investing in collectibles, not "insurance" though.
When buying bullion, you really should buy "allocated". I've read about Perth Mint and they do not promise to physically hold the metal they have sold into un-allocated funds. You should also buy LME certified and serial numbered bars and, under no circumstances, take actual delivery of them or you will need to have them re-assayed before resale.
A little bit of Ag/Au can't be a bad thing.
ps. Do some research on Exchange Traded Funds (ETFs) before going down that track. There have been some doubts raised about their integrity. I have no opinion myself.
When we started buying, was $560~$580 per oz (a few years ago)
These days, costs us $820-850 per oz.
Cheers,
The Y-man
Hi Sunfish,
Could you please explain this one to a gold dummy like me?
Cheers,
The Y-man
Hi Sunfish,
Could you please explain this one to a gold dummy like me?
Cheers,
The Y-man
I went to the ABC web site you highlighted and the bars pictured in the bullion thread were serial numbered but had "ABC" markings. You may not be able to sell them into the London Metals Exchange.
In fact this looks suspiciously like an un-allocated account. If your holding statement doesn't quote serial numbers and your agreement does not specify independent audits I would ask for clarification. I doubt you could ever get free storage and insurance for allocated holdings.
The universal appeal of gold is that it is no one else's liability. With allocated gold, where there is metal literally with your name on it, you are not relying on anyone else's integrity (moral or financial). With unallocated gold however you become just another creditor of the issuing group. If they play the market with your cash (what other motive could they possibly have to give you this service?) and make a big mistake, they have lost your money. You are unprotected.
Best I put in a big disclaimer here: I am not, and never have been, a client of the ABC and make no comment on their financial soundness (of which I am uninformed) nor their integrity as a bullion company. My comments are of a general nature only.
A healthy chunk of this would be the currency appreciation of the AUD/USD. Great CG though!
I can see the value of direct bullion as a slice on my investing pie chart for the diversification, other reasons for owning I'm yet to be convinced.
Jim Puplava on his 'Financial Sense Newshour' had a section '5 ways to own bullion' some months ago.
Hi All
I watched this google DVD the other night.
http://video.google.ca/videoplay?docid=7786804090607217621&hl=en-CA
Had some interesting stuff about the worlds economic outlook.
Might be worth a peek.
Cheers
Simon
I watched this google DVD the other night.
http://video.google.ca/videoplay?docid=7786804090607217621&hl=en-CA
Had some interesting stuff about the worlds economic outlook.
Might be worth a peek.
Cheers
Simon
Beauty and rarity. Found any gold lately? Held a 1oz Perth Mint Nugget in your hand? If not, you should buy the 2001 "Prospector" issue as a gift to yourself or some one dear to you.
A typical large miner today has to dig, truck, crush and treat (using expensive chemicals) a ton of ore to recover a little gold about the size of a match head ie a few gs/ton. All the gold ever mined would fit on a football field, stacked a few stories high. True, most still exists today.
It's use as a trading medium pre-dates Christ when traders needed something to exchange for Persian silks or whatever. Whoever received the gold had something of beauty he could use in a display of wealth or with which he could buy coffee or dates from another trader.
Respected trading nations/banks stamped their own coins of a standard weight and purity and these gained popularity because of their standard composition.
The US$ was set to a silver standard, hence the Silver Dollar ie a dollar was made from a set amount of silver (I don't think it was an oz) and a note could be exchanged for the equivalent in silver and 15 ozs of silver could be exchanged for 1 oz of gold.
Oh, and it is an unparalleled store of wealth. A Roman gentleman could buy a fine toga, handcrafted belt and sandals for an oz of gold. A man could still kit himself out well for the same amount of gold. By comparison: During my lifetime one US$ could buy one thirty fifth of an oz of gold. That same dollar will buy three fifths of five eights of FA today. Fiat currency is a bad "hold" in good times and a disaster during high inflationary periods.
Sorry if I've raved a bit.
