Reputable company to deal with to buy gold

[Sabella]

Anyone purchase gold recently who can recommend a honest , fair priced stable company to buy from. Any opinions on why the US currency will be worthless soon considering there in little gold to back the paper?

[retiredguy123]

I once called a few of these gold sellers on TV to find out how much of a markup/commission was involved. Basically, if you buy $100 worth of gold and then sell it back to the company before the gold price changes, you would get back $92. Personally, I would never buy gold as an investment. But, if I wanted to invest in it, I would buy a mutual fund or ETF that invests in gold, not physical gold. I suggest calling Vanguard or Fidelity and ask their opinion on the best way to invest in gold.

[Stu from NYC]

We have been off the gold standard for the past 50 years and the economy is still going pretty strong. I cannot conceive of our currency having no value.

Nothing wrong with buying gold but you will not get any return unless price of the metal goes up.

You might consider shares in a gold mining operation or mutual fund if one is available, as an alternative.

[BrianL99]

Anyone purchase gold recently who can recommend a honest , fair priced stable company to buy from. Any opinions on why the US currency will be worthless soon considering there in little gold to back the paper?

I'm far from an expert, but I have a done a couple of moderate sized Gold transactions. I paid about 5% over "face value" & I only bought Liberty & Eagle Gold Coins. They were for the most part, uncirculated and I like the way they look. I bought 20 of them, when gold was around $1100. I sold them last year, when gold was around $1850.

I was astounded at the different prices I was offered when it came time to sell. I talked with 3 or 4 dealers and got offered between 30% under the Spot Price, all the way up to 3% over Spot. That was an education.

The purchase & sales were in New England, so I can't really help you with a local recommendation.

As for the US Currency not being backed by Gold ... nothing is backing Cryptocurrency, but it seems to have value to some people.

[collie1228]

William Devane, that world renowned and trusted investor (right) recommends Rosiland Capital for his precious metal investments. He thinks you should too.

[tophcfa]

I own some gold as part of a well diversified portfolio, some in ETF’s in our IRA so I can buy and sell it as I please without immediate tax consequences. I also own physical gold coins and bars which I keep in a fire safe. Physical gold is good to own because you can sell it off in increments under $10K and it never gets reported, so there won’t be any taxes owed on capital gains. I purchased the physical gold many years ago and it’s increased significantly in value. That being said, I have only purchased physical gold, which is very easy and inexpensive through JM Bullion online. My question is, what have people’s experience been selling physical gold. Where have you sold the gold and what type of bid/ask spread (transaction cost) did you encounter?

[Topspinmo]

When I get all worked up about dollar vs gold I get my information from TV commercials. :)

I brought the double gold eagle commemorative coin with less than .0002 Oz of gold that has .99999% pure gold in them. I plan on being millionaire when price does gold reaches $2500 Oz. With my 1000 coins with 1.9999999 Oz of total gold. I’m making killing buying them for 39.95 with .20 cent (if that)) worth Of gold trace in coin. Now if I can just figure out what in rest of the coin worth? :MOJE_whot:

[Michael G.]

Physical gold is good to own because you can sell it off in increments under $10K and it never gets reported, so there won’t be any taxes owed on capital gains.


Good Point.

I wait for lower price.

Here's today 3/31/2022 market

$1,936.00
MONEX Live Gold Spot Prices
Gold Spot Prices Today Change
Gold Prices Per Ounce $1,936.00 +15.00
Gold Prices Per Gram $62.24 +0.48
Gold Prices Per Kilo $62,242.40 +482.25

[Topspinmo]

William Devane, that world renowned and trusted investor (right) recommends Rosiland Capital for his precious metal investments. He thinks you should too.

I alway trusted Bernie madeoff who made off with lots.

[Stu from NYC]

When I get all worked up about dollar vs gold I get my information from TV commercials. :)

I brought the double gold eagle commemorative coin with less than .0002 Oz of gold that has .99999% pure gold in them. I plan on being millionaire when price does gold reaches $2500 Oz. With my 1000 coins with 1.9999999 Oz of total gold. I’m making killing buying them for 39.95 with .20 cent (if that)) worth Of gold trace in coin. Now if I can just figure out what in rest of the coin worth? :MOJE_whot:

The rest of the coin has a very light grade of plastic mixed in with the gold. They were worried the coins might be too heavy for some people.

[Babubhat]

Sprott physical gold trust.

Unitholders can redeem their units for physical gold bullion on a monthly basis, subject to certain minimum requirements

[Jimmay]

SD bullion

[cgw3431]

Try Apmex.com - been buying from them for 20 years.

[bd20166]

Use your credit card @ SDBullion.com most convenient

Your check or Bank wire @ Volunteer Metals (888) 661-4093 or (931) 766-6066 2nd choice

You check or bank wire @ Miles Franklin Precious Metals 1st choice

Avoid numismatic coins, get the most ounces for your dollars.

[midiwiz]

Anyone purchase gold recently who can recommend a honest , fair priced stable company to buy from. Any opinions on why the US currency will be worthless soon considering there in little gold to back the paper?

i think you watch too much TV. much like the people that believe the VPN commercials.

[CoachKandSportsguy]

Buy the verified gold coins, Canadian maple leafs, etc, commission should be irrelevant if you think that the world is devolving into chaos. . . just remember than currency rates is just a spring of equality between economies and politics and interest rates and that the US dollar is relative to other economies. Given our lack of relative political constraints around economic growth, the US generally always fairs the best with economic recoveries vs the rest of the world.

With interest rates rising, gold is less appealing, which is why gold hasn't done much recently, as the dollar has remained stronger than most currencies with the best economic growth and recovery outlook. So don't expect gold to go to $3000 anytime soon. . . but it would be fun to look at them at home every once in awhile. Also buy a few verified silver coins as well, get diversified in your metals investments.

good luck, and stop reading those nihilistic web sites about the US economy cr*pping the bed. . .

finance guy

[caseycasebeer]

Regrettably, all the World’s currencies have been ‘fiat (little more than ink on paper) for over fifty years, and historically, fiat currencies do not have a good track record. Difficult as it is to believe, they all devalue eventually (look at the USD since 1913). Gold (and to an extent silver) have a better track record.

If it were not for the fact that the USD is still essentially the world’s “reserve currency” (used in worldwide commerce) the USD would also be hurting even more than it is.

A long time ago I began making small purchases in various precious metals (gold, silver, and lead) as a hedge against the fiat dollar. I only buy ‘physical gold, no paper gold, or collector coins (aka “Numismatics”). That’s fine, but at a certain point security can become an issue.

One other issue I’ve wondered about is when it becomes time to liquidate some gold/silver - what do you do? ...you just end up with more ‘paper!

One final thought - if you want to buy some gold or whatever, I urge you to buy smaller coins (1/10oz, .25oz, or .5oz) but not necessarily 1oz. Yes, you’ll pay more of a premium on the smaller coins, but they may be easier to sell or trade when the time comes.

Personally, I like a company in Phoenix (AZ) called CMI Gold & Silver (CMI-gold-silver.com). (855-935-0419)

[retiredguy123]

The dumbest TV commercial for gold is the one where they compare the purchasing value of the dollar to the value of gold over a long period of time. For that comparison to work, you need to assume that people keep large amounts of cash under their mattress and hope that it increases in value. Almost nobody does that.

[Shish]

Hard Assets Alliance (https://hardassetsalliance.com/)
Buy Gold Bars Online | JM Bullion™ (https://www.jmbullion.com/gold/gold-bars/)

How is gold taxed?
Taxes on Physical Gold and Silver Investments (https://www.investopedia.com/articles/personal-finance/081616/understanding-taxes-physical-goldsilver-investments.asp)

Holding physical gold at home in a major dollar collapse would be good. Keep a portion in small coins/bars.
Holding gold in an IRA cannot be done at home.
Holding gold in a Roth IRA means profits are not taxed.
Depending on total assets, a 10% investment in gold is recommmended.

A good read: "The New Case For Gold"
Amazon.com (https://www.amazon.com/dp/B01D512ROW?plink=Iyl8L0xcgze4Rchy&ref_=adblp13nvvxx_0_3_im)

[2001villager]

I too use JMBullion. Usually about 3-4% over current spot.

[FredJacobs]

Anyone purchase gold recently who can recommend a honest , fair priced stable company to buy from. Any opinions on why the US currency will be worthless soon considering there in little gold to back the paper?

As I see it, most of these companies are selling collectibles and commemorative coins that they want you to believe will increase by the price of gold increases and the value of the coin increases by limited. I think that both of these conditions happening at the same time is very rare.

IMHO, you would be better off buying gold or silver ingots and not count on the coin increasing in value because collectors are beating down your door wanting to buy it from you.

One more thing - precious metals are considered collectibles and are NOT taxed at the capital gains rate of 15%. Collectibles are taxed at 28%.

[retiredguy123]

I too use JMBullion. Usually about 3-4% over current spot.
3-4 percent to buy it, but how much do they charge when you sell it back to them?

[fcgiii]

Easiest way is to buy shares in gold Exchange Traded Funds (ETFs). I have two in our etrade portfolio: IAU and GLD. They trade just like stocks and thus can be in your IRA.

[Petersweeney]

They can make gold synthetically now - there’s a family like Da Beers that control it…..
Go on a cruise….

[David_H]

D & R Coin
352-389-3310
8602 SW State Rd 200, Ocala, FL 34481

[TNLAKEPANDA]

Unless Gold goes Way Up in value it is not a good investment. If the economy goes to heck what good is Gold? Who will buy it? The price of ammunition has gone up 4X and is in high demand!

Just my thoughts.

[tophcfa]

With interest rates rising, gold is less appealing, which is why gold hasn't done much recently, as the dollar has remained stronger than most currencies with the best economic growth and recovery outlook. So don't expect gold to go to $3000 anytime soon. . .

The recent performance of gold has been extremely disappointing, historically gold has skyrocketed during times of hyper inflation. I suspect a big reason for that is crypto investing. Our generation has always wanted to own some real tangible assets other than stocks and bonds and gold was considered the benchmark for that. Now many investors, especially younger generations, are comfortable owning something that is nothing more than a digital entry with absolutely no backing. Crypto has siphoned away much of the demand for gold. I want to queue up my physical gold for a quick sale if/when crypto ultimately crashes and burns because that’s the new trigger point that will send gold prices spiraling upwards.

[OhioBuckeye]

Thanks, you said exactly the way I thought. I always said anything the govt. has control over they could have total control, & the govt. can control gold. Like you said if you pay $100. For a piece or some gold there’s a middle man that gets his cut of your money. To me nothing is for free just like the $100. I spend. It just always seem like you’ll have to find a gold broker or like I said a middle man. I’ll take my chances with the good ole American currency. Just like some people think that currency might be a thing of the past, just like America might not be America in the yrs. to come. We live in a scary world now. God Bless America!

[rogerrice60]

The government has been printing "FREE"money money to boost the economy; their spending is out of control which devalues our dollar.
We can expect HIPPER-INFLATION soon wich will sink the dollar.

[Phpb2]

Good luck. Only thieves! Buy 30% under spot. Sell 30% over spot!
It used to be 5%. Now the mantra is “Hedge against inflation!” Who you gonna sell to? And with what currency? Thieves!!!!

[024engine]

I have been buying from Provident Metals for years. They are in Texas and are the best in the business. Good prices, fast and free shipping with a certain amount. Never had a problem with them

[tophcfa]

I have been buying from Provident Metals for years. They are in Texas and are the best in the business. Good prices, fast and free shipping with a certain amount. Never had a problem with them

Have you sold any back to them and if so how did that work out?

[DAVES]

William Devane, that world renowned and trusted investor (right) recommends Rosiland Capital for his precious metal investments. He thinks you should too.

This sort of stuff is amusing. If, interested in gold, would you call Willian Devane for advice. He does that commercial simply because though he has no idea who you are, nor does he care for FREE or is he PAID by Rosiland Capital?

Yes, gold has value. You buy it retail and sell it wholesale so to be EVEN, you first have to have it go up enough to cover than spread. On top of that you pay sales tax, another 7%

[Stu from NYC]

According to my barber who heard it from his butcher there is a lot of goldjust a few feet below the ground, at the villages. The developer first digs it up and than will build houses.