Dec

1

How do I go about investing in gold and/or silver?

Filed Under investing 

His Divine Shadow asked:


I am interested in putting a portion of my savings into gold and/or silver - however I am confused as to exactly how one goes about doing this. I’ve googled the area around my place and it looks like the only places where gold/silver is available are shady pawn shops type deals and coin shops. What should one look for to objectively determine (not word of mouth) whether or not a dealer is reputable?

More importantly, what is a reasonable premium I should be expected to pay on gold/silver bullion? And how can I be sure that what I am buying is actually the real deal and not just plain crap?

I am not interested in using e-bay or Kitco and paying the associated shipping costs or worry about insuring a shipment or having it stolen or lost. I am also not interested in buying ETF, e-gold, gold stocks, or anything of that sort. I am only interested in tangible metal for reasons too detailed for me to get into with the character and time limitation I have right now. Please help!

Mike

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    • Comments

    4 Responses to “How do I go about investing in gold and/or silver?”

    1. freakboynv2000 on December 3rd, 2007 9:44 am

      The coin dealer has tips for you can google silver or gold bullion and find many dealers to compare prices goldlinecom has some great info on it you as far as far as pricing goes use the bbb in your area that has some great info on.

    2. lithium630 on December 3rd, 2007 9:46 am

      First I need to say that gold and silver are historically terrible investments. They have had a decent run lately, but despite what all the radio commercials say, gold has never beat inflation, never mind stocks over a significant period. US currency is no longer based on gold.
      That being said, there are plenty of companies that specialize in gold bullion. As for not paying shipping, I don’t think thats realistic unless you buy from a coin show. (which you don’t want to do). You will pay for shipping one way or another because dealers pass their cost on to you.

    3. ADP_14 on December 3rd, 2007 1:48 pm

      The best but that doesnt solve your shipping cost issue.

    4. Ryan on December 5th, 2007 2:57 am

      ticker = gld