Godlike Productions - Conspiracy Forum
Users Online Now: 3,178 (Who's On?)Visitors Today: 1,983,375
Pageviews Today: 2,676,965Threads Today: 600Posts Today: 11,654
04:33 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Need advise on buying physical gold

 
Anonymous Coward
User ID: 8829646
United States
11/21/2012 09:10 PM
Report Abusive Post
Report Copyright Violation
Need advise on buying physical gold
I'm lucky enough to have a bunch of 5k Roth fund IRAs under my belt. I have been able to put away 2 each year but they're all flat (+/- 1k each). I'm looking to liquidate them and buy physical gold. I'm ready to plunk down the the money for the next two in the coming year but I have no faith in the market going forward. What's my best option for buying physical gold? - Thanks!
Lothlorien77
User ID: 1468191
United States
11/21/2012 09:20 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Try APMEX. Just bought some silver, good delivery, well packaged and fast.
Silver was about $5 over spot. I don't know what they want for gold. Don't forget the shipping rate will add another $12.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:22 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I think you mean advice instead of advise. Maybe you could convert them to Gold IRA's? Other than that consider Silver or Gold Eagles. I have a feeling that Silver has more up potential at this time. Remember...PM's should only be bought to protect wealth in light of the fact that paper could become worthless if there is a crash.
Anonymous Coward (OP)
User ID: 8829646
United States
11/21/2012 09:22 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I'm thinking local "buy gold/sliver" stores. Small chunks to hold long term.
Anonymous Coward
User ID: 1103915
United States
11/21/2012 09:24 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
DO NOT LIQUIDATE YOUR IRA!!!! Use the IRA to Purchase the
metals!! The Roth IRA was created for just this kind of thing. There are ads all over the net about what you can do from within the Roth learn and prosper!
Anonymous Coward
User ID: 14553694
Canada
11/21/2012 09:24 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I'm thinking local "buy gold/sliver" stores. Small chunks to hold long term.
 Quoting: Anonymous Coward 8829646


go to your local coin shop..no shipping costs
Anonymous Coward (OP)
User ID: 8829646
United States
11/21/2012 09:25 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I think you mean advice instead of advise. Maybe you could convert them to Gold IRA's? Other than that consider Silver or Gold Eagles. I have a feeling that Silver has more up potential at this time. Remember...PM's should only be bought to protect wealth in light of the fact that paper could become worthless if there is a crash.
 Quoting: Anonymous Coward 28246826


Yea, my spellchecker is a moran.

I have 3 of my Roths in gold index funds (before gold went up) and the funds down!
Anonymous Coward
User ID: 1103915
United States
11/21/2012 09:26 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Forgot to mention; any earnings made by the IRA through investing are all....
TAX FREE!!!!
Anonymous Coward
User ID: 1103915
United States
11/21/2012 09:28 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I'm thinking local "buy gold/sliver" stores. Small chunks to hold long term.
 Quoting: Anonymous Coward 8829646


go to your local coin shop..no shipping costs
 Quoting: Anonymous Coward 14553694


NO NO NO NO! The custodian of your IRA (that may be you)
must make the purchases IN THE NAME OF THE IRA> there are specific rules but you can make a fortune by following them - NEVER liquidate a Roth. Use it to buy all the assets you can and then live off of the dividends and interest they earn.
Anonymous Coward
User ID: 13583316
United States
11/21/2012 09:33 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I'm thinking local "buy gold/sliver" stores. Small chunks to hold long term.
 Quoting: Anonymous Coward 8829646


Do it the same way they do. Put out some ads. Learn enough to not buy fake gold, then buy as much from the public that you can afford. This way you'll get it at the absolute lowest rate.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:34 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I think you mean advice instead of advise. Maybe you could convert them to Gold IRA's? Other than that consider Silver or Gold Eagles. I have a feeling that Silver has more up potential at this time. Remember...PM's should only be bought to protect wealth in light of the fact that paper could become worthless if there is a crash.
 Quoting: Anonymous Coward 28246826


Yea, my spellchecker is a moran.

I have 3 of my Roths in gold index funds (before gold went up) and the funds down!
 Quoting: Anonymous Coward 8829646
Good deal. But as you know it is always a good feeling to have some pretty Gold or Silver coins in your hands. :-)
Anonymous Coward (OP)
User ID: 8829646
United States
11/21/2012 09:35 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Ok, I understand the tax implications of Roths, both liquidating them now and holding them. After 10 years, I'm marginally in the red. If I had bought antique guns or artwork I'd have triple the money I have in the Roths. Remember when this money was invested gas, groceries and other costs of living were 1/2 as much as they are currently. I just don't want to get caught cashing them in when milk is $8 and gas is $14 gallon and I still have the same actual 5k in the Roth.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:36 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Forgot to mention; any earnings made by the IRA through investing are all....
TAX FREE!!!!
 Quoting: Anonymous Coward 1103915
All well and good but all the IRA's and other paper vehicles will go to shit if TSHTF so it's always good to have some of the real stuff in your hands.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:39 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Ok, I understand the tax implications of Roths, both liquidating them now and holding them. After 10 years, I'm marginally in the red. If I had bought antique guns or artwork I'd have triple the money I have in the Roths. Remember when this money was invested gas, groceries and other costs of living were 1/2 as much as they are currently. I just don't want to get caught cashing them in when milk is $8 and gas is $14 gallon and I still have the same actual 5k in the Roth.
 Quoting: Anonymous Coward 8829646
Physical Gold and Silver has the same buying power that it had 50 years ago. Preservation of wealth instead of a devalueing dollar!!! A good thread to follow in here is Strongman.
Anonymous Coward
User ID: 1103915
United States
11/21/2012 09:44 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Forgot to mention; any earnings made by the IRA through investing are all....
TAX FREE!!!!
 Quoting: Anonymous Coward 1103915
All well and good but all the IRA's and other paper vehicles will go to shit if TSHTF so it's always good to have some of the real stuff in your hands.
 Quoting: Anonymous Coward 28246826


You nitwits need read all of what I wrote. THE IRA BUYS THE PYSICAL GOLD. An IRA is not paper. It is a vehicle for wealth that you can use in many ways. Buying assets, rental homes, oil and gas leases, and precious metals are just the three that I use which are all TANGIBLE ASSETS most of which earn interest which goes back into the IRA to be used to buy MMORE ASSETS!

Pay attention here Mildred I giving you pearls!
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:45 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
I am trying to cover all my bases....PM's...food... conservative paper investments...and lead etc. Lead (ammo) could be worth alot if things get really bad and can be something to barter also. Nobody knows about the future but the way things are going it doesn't look rosy.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:48 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Forgot to mention; any earnings made by the IRA through investing are all....
TAX FREE!!!!
 Quoting: Anonymous Coward 1103915
All well and good but all the IRA's and other paper vehicles will go to shit if TSHTF so it's always good to have some of the real stuff in your hands.
 Quoting: Anonymous Coward 28246826


You nitwits need read all of what I wrote. THE IRA BUYS THE PYSICAL GOLD. An IRA is not paper. It is a vehicle for wealth that you can use in many ways. Buying assets, rental homes, oil and gas leases, and precious metals are just the three that I use which are all TANGIBLE ASSETS most of which earn interest which goes back into the IRA to be used to buy MMORE ASSETS!

Pay attention here Mildred I giving you pearls!
 Quoting: Anonymous Coward 1103915
Fine but if there is a collapse what good are they? Get it in your hands. When TSHTF you couldn't buy a loaf of bread with your IRA paper.
fluffycrittermeister

User ID: 1461298
United States
11/21/2012 09:52 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
i think they are required by law to report you to the feds if you buy over a certain dollar amount, you might research what that amount is

Last Edited by fluffycrittermeister on 11/21/2012 09:53 PM
Anonymous Coward
User ID: 1103915
United States
11/21/2012 09:52 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Forgot to mention; any earnings made by the IRA through investing are all....
TAX FREE!!!!
 Quoting: Anonymous Coward 1103915
All well and good but all the IRA's and other paper vehicles will go to shit if TSHTF so it's always good to have some of the real stuff in your hands.
 Quoting: Anonymous Coward 28246826


You nitwits need read all of what I wrote. THE IRA BUYS THE PYSICAL GOLD. An IRA is not paper. It is a vehicle for wealth that you can use in many ways. Buying assets, rental homes, oil and gas leases, and precious metals are just the three that I use which are all TANGIBLE ASSETS most of which earn interest which goes back into the IRA to be used to buy MMORE ASSETS!

Pay attention here Mildred I giving you pearls!
 Quoting: Anonymous Coward 1103915
Fine but if there is a collapse what good are they? Get it in your hands. When TSHTF you couldn't buy a loaf of bread with your IRA paper.
 Quoting: Anonymous Coward 28246826


You need reading comprehension classes.

Once again, just for you;

The custodian of the Roth IRA, set up as a self directed Retirement account buys PHYSICAL GOLD you know...the heavy stuff that you can hold in your own sweaty palms... and delivers it to YOU the owner. The only paper involved is the sales receipt.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:52 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Even owning land is no guarantee if TSHTF and the government takes control of all land etc. I'll take my chances and hide some PM's and food etc.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 09:54 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
...
All well and good but all the IRA's and other paper vehicles will go to shit if TSHTF so it's always good to have some of the real stuff in your hands.
 Quoting: Anonymous Coward 28246826


You nitwits need read all of what I wrote. THE IRA BUYS THE PYSICAL GOLD. An IRA is not paper. It is a vehicle for wealth that you can use in many ways. Buying assets, rental homes, oil and gas leases, and precious metals are just the three that I use which are all TANGIBLE ASSETS most of which earn interest which goes back into the IRA to be used to buy MMORE ASSETS!

Pay attention here Mildred I giving you pearls!
 Quoting: Anonymous Coward 1103915
Fine but if there is a collapse what good are they? Get it in your hands. When TSHTF you couldn't buy a loaf of bread with your IRA paper.
 Quoting: Anonymous Coward 28246826


You need reading comprehension classes.

Once again, just for you;

The custodian of the Roth IRA, set up as a self directed Retirement account buys PHYSICAL GOLD you know...the heavy stuff that you can hold in your own sweaty palms... and delivers it to YOU the owner. The only paper involved is the sales receipt.
 Quoting: Anonymous Coward 1103915
My comprehension knows one thing...what I have has no paper trail.
Anonymous Coward
User ID: 1103915
United States
11/21/2012 09:56 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Even owning land is no guarantee if TSHTF and the government takes control of all land etc. I'll take my chances and hide some PM's and food etc.
 Quoting: Anonymous Coward 28246826


Stick your head in the sand. Land is even better in hard times. Buy it cheap at auctions and when things turn arond make a fortune. Study what happened at the end of the Great Depression.
Anonymous Coward
User ID: 12064276
United States
11/21/2012 10:00 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Try APMEX. Just bought some silver, good delivery, well packaged and fast.
Silver was about $5 over spot. I don't know what they want for gold. Don't forget the shipping rate will add another $12.
 Quoting: Lothlorien77 1468191


this is a good company... i have bought from them whenever i could spare some fiats.
Anonymous Coward
User ID: 1103915
United States
11/21/2012 10:02 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
My comprehension knows one thing...what I have has no paper trail.


A lot of people like to stay below the radar. no problem. Except you can't grow and prosper that way; always hiding in the shadows.

I hide in plain sight. I own nothing, but control a whole lot. What I control is all above board and not connected to me personally.


The OP's question was regarding buying phsyical gold. I have experience in that area. I also have experience with using a Roth IRA to do it. My advice is to NOT liquidate the Roth, to instead roll it into a self directed retirement account and use that to purchase the PHYSICAL GOLD.
Anonymous Coward
User ID: 13583316
United States
11/21/2012 10:05 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
i think they are required by law to report you to the feds if you buy over a certain dollar amount, you might research what that amount is
 Quoting: fluffycrittermeister


That is so they can confiscate it. I'm guessing you already know that's it's not just some conspiracy theory either, some old coins are exempt because of their intrinsic value. Those laws are on the books and it's been done before.
Anonymous Coward
User ID: 28246826
United States
11/21/2012 10:05 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Even owning land is no guarantee if TSHTF and the government takes control of all land etc. I'll take my chances and hide some PM's and food etc.
 Quoting: Anonymous Coward 28246826


Stick your head in the sand. Land is even better in hard times. Buy it cheap at auctions and when things turn arond make a fortune. Study what happened at the end of the Great Depression.
 Quoting: Anonymous Coward 1103915
Yeah but this time there might not be a government as we know it that existed after the Great Depression. The only value land MIGHT have is being able to protect it with your life. YOU are banking on things turning around. I'm banking on having something left that MIGHT have some worth eventually and can either be hidden or carried. Good luck!
Anonymous Coward
User ID: 1103915
United States
11/21/2012 10:10 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
i think they are required by law to report you to the feds if you buy over a certain dollar amount, you might research what that amount is
 Quoting: fluffycrittermeister


That is so they can confiscate it. I'm guessing you already know that's it's not just some conspiracy theory either, some old coins are exempt because of their intrinsic value. Those laws are on the books and it's been done before.
 Quoting: Anonymous Coward 13583316


If you purchase more than $1000 at a time you will pay no sales tax. To avoid the reporting rules purchase less than
$3000 at one time, no more often than 21 business days apart. Yes, they must file the name of the purchaser and the Tax ID or SS# but this is for the auditing of thier business in order to maintain thier licence.

Not buying metals because you are afraid the gov't will come by one day and steal (confiscate) it is fearful and shortsighted.
Anonymous Coward
User ID: 23011194
United States
11/21/2012 10:10 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Buy from coin stores with cash. APMEX means a paper trail and dirtbag may have his goons track down all buyers. Spend part of it on silver also...

Will dirtbag confiscate all land in the near future? maybe, maybe not....
Anonymous Coward
User ID: 17959454
United States
11/21/2012 10:14 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
Texmetals is great, go with them
Anonymous Coward
User ID: 28182665
United States
11/21/2012 10:14 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
If it's not in your hands, it's paper. If it's paper it's in a non allocated pool. Oldest game in the world. We'll hold your gold and give you this piece of paper. Meanwhile, we'll lease, rent or sell your gold to a 100 other people. But don't worry, your gold is in good hands, eh?

Get the physical and don't tell anyone you have it, no one!
Anonymous Coward
User ID: 1103915
United States
11/21/2012 10:17 PM
Report Abusive Post
Report Copyright Violation
Re: Need advise on buying physical gold
BTW> I currently recomend buying silver because;

1. You can get more units of it for the same cash outlay

2. It will be easier to parse out later whether selling or using to barter

3. It has far more uses in industry and will see much higher percentage gains.

I started buying gold and silver in 1988 when silver was $7.45/oz and gold was about $280/oz. I am very happy with the direction both have taken; that is an ROI of about 750% on silver and a bit more than 655% on gold in todays prices.

News