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    Do you buy bullion or coins? Where& Why

    Discussion in 'Metal' started by user name, May 3, 2012.

    1. user name
      Question

      user name Well-Known Member Donator Full Member

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      Do any of you purchase precious metals, bullion or coins? There are many places pushing the practice. Not interested in paper bets or contracted storage. Just wondering where you buy and why you made the choice.
       
    2. dmonwaxa

      dmonwaxa Moderator Staff Member Full Member

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      Gold is 1634/oz still kinda high dont you think. Theyre selling high and we're buying high? Not sure about that one.
       
    3. k2 Ceramic Studio
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      k2 Ceramic Studio Well-Known Member Full Member

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      I buy silver coins for the kids 1oz, get them one each a month off of Argen in the UK, they have loads now, should be a nice little investment for them by the time they get to 18.
       
    4. Tom Moore

      Tom Moore Well-Known Member Full Member

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      I by bullion. It keeps well and will make the rice and beans I have squirreled away for after the Apocalypse taste much better.
       
    5. DentureDude
      Relaxed

      DentureDude trained monkey Full Member

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      flying through space @ 67k mph!
      buy as much as you can write off. :thumb:
       
    6. user name
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      user name Well-Known Member Donator Full Member

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      Now we're getting somewhere. I believe the global economy is in a tail spin. The price of fuel is on a steady upward trend. Partly because of investment speculation, but to a much greater degree because oil is traded in dollars. Value of the dollar falls, oil goes up...along with everything else. History shows the price of gold typically shows the reverse of the dollar.
      With that being the case, our dollar bubble likely to pop later this year, gold should make a substantial rise. There is some theory that when the money bubble breaks, the gold currently being held by countries that have been purchasing bullion by the ton will liquidate alot and may cause a temporary fall in price, ( I dont think that will be noteworthy), but the general trend is up.
      Not that I want to 'go to Vegas' with my savings, but Id hate to be sitting on valueless paper when I could have bought gold and at least have something of value. Granted...if our global financial system goes belly up, we've got chaos...but, we'll recover.

      DentureDude...Is there a limit to how much you could buy and write off? It would be limited by your profit, for one. Im not suggesting you get a loan to make a purchase. But if you buy a good chunk, cant you liquidate it tax free? Does anyone report your check from refining scrap? If you purchase alloy, grind it, send in the dust...youre getting your money back, minus refining fees. That doesnt seem like a taxable event to me. So...dont grind it. Make a buy and sell it to a refiner. Isnt that tax free money? I dont want to red-flag myself for an audit or cheat our Government out of their due, but bits a dog eat dog world and Im just thinking. Right, wrong?
       
    7. dmonwaxa

      dmonwaxa Moderator Staff Member Full Member

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      Great points to consider user name, I was being a bit myopic in my POV. Thanks
       
    8. k2 Ceramic Studio
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      k2 Ceramic Studio Well-Known Member Full Member

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      I know guys in the UK that buy 60% never even open it then sell it on as scrap. I think its a daft thing to do! You loose out on the vat you paid out for it and you are not going to get back what it cost unless you sit on it.
       
    9. DentureDude
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      DentureDude trained monkey Full Member

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      lol.. i dont know what your talking about?

      as a lowly denture tech i dont get that opportunity. but.. i have a c&b friend that pretty much retired on it.

      the specifics, i have no idea but if your buying precious metal allot for your business... i can only imagine. :wof:
       
    10. Juko

      Juko Active Member Donator Full Member

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      I would like to open this thread up for discussion again as I think this is a fun topic albeit the thread being 4 years old.
       
    11. 2thm8kr
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      2thm8kr Beanosavedmysociallife Full Member

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      I used Argen for years to purchase dental and jewelry alloy or gold. I purchased bullion and coins from Kitco.com for a few dollars over market price for many years and would recommend them.
       
    12. CatamountRob
      Dead

      CatamountRob Banned Member Full Member

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      I've been investing heavily in lead and brass for the last few years.
       
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    13. rkm rdt
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      rkm rdt Well-Known Member Donator Full Member

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      Wood
       
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    14. BobCDT

      BobCDT Well-Known Member Full Member

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      Gold is down since the election. Dollar is strong. If you are using US dollars it's probably not a bad time to buy.
       
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    15. Juko

      Juko Active Member Donator Full Member

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      Why brass and lead or are you referring to bullets?


      I looked up kitco and their prices do seem decent. I use Argen for my dental alloy.
      __________

      What is everyone's views on platinum and palladium? Palladium being so rare and having so many uses in technology and industry will that cause it's worth to be more?
       
    16. user name
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      user name Well-Known Member Donator Full Member

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      Unless you expect to need a currency in a post apocalyptic world, there are better uses for your current money, in my opinion. The value of gold typically runs inverse to the value of the dollar. You pay a premium to get it, pay to get rid of it, so it would be unlikely youll make gains with it as an investment. There are better ways to 'make money'. Pay off your debts. Have a reliable way to filter water. Have water storage. Have non perishable foods. Guns and ammo so you can defend your family. There are things much more desirable for barter when the zombies are roaming the streets...liquor, smokes, coffee grounds.

      A diverse portfolio is always good, but most people don't invest well enough to out pace their accumulation of debt and inflation.
       
    17. zero_zero
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      zero_zero Well-Known Member Full Member

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      Forrest... ;)

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    18. zero_zero
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      zero_zero Well-Known Member Full Member

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      Well put user :) I couldn't have said it any better myself...

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    19. Juko

      Juko Active Member Donator Full Member

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      I suppose your original thought was for a societal collapse. And in which case yes the survival guide to goods apply.
      I'm not really looking at it from a apocalyptic point of view. Just thought it was fun to think about the long term investment idea of it.

      Histories economies seem to have always been based upon gold and silver. So if this paper economy folds what type of currency would take its place. Crypto currency seems to be the best bet but what exactly would that be based from. Thin air like our current currency or would it go back to the gold standard?
       
    20. zero_zero
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      zero_zero Well-Known Member Full Member

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      The only thing what really made a buck or two for me so far was real estate and land...might make a bit selling my business when is time to retire. Stocks and speculative things are just too complicated for me...

      I highly doubt that the greenback will return to be gold backed like it was before '71...not with the Fed res being a privately owned entity. Same with our currency, which was also sold out about the same time... Crypto currencies require a strong network infrastructure and willing participants to keep it working...I'm not sure how will it fare on the long term. Gold is hard to sell IMO...specially in larger quantities, there will be always trading fees/taxes unless it will be accepted as a currency down the road. So far all attempts to bring back a gold backed currently had been thwarted...a solid currency means less control for the powers to be...



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