Best silver/gold coins/bars to buy?

Raving_Cute
Raving_Cute

I know very little about buying gold/silver

What are good exchanges/mints that are trustworthy? And are certain coins trusted more than others? I've been told I should get Krugerrands and Australian coins.

All urls found in this thread:
http://theantimedia.org/texas-to-open-gold-backed-bank/
http://www.thedailyeconomist.com/2015/10/got-karatbars-new-texas-gold-depository.html
http://www.zerohedge.com/news/2015-09-20/going-back-what-works-gold-money-again-thanks-utah
https://www.everbank.com/investing/metals
https://www.everbank.com/investing/metals/gold
http://www.personalincome.org/everbank-review/
http://www.businesswire.com/news/home/20150612005800/en/EverBank-Launches-MarketSafe%C2%AE-Power-MetalsSM-CD
http://dailyreckoning.com/how-to-keep-your-silver-safe/
http://www.cardrates.com/news/new-golvercard-backed-gold-silver-bullion/
https://www.weusecoins.com/bitgold/
http://www.ibtimes.co.uk/bitgold-delivers-instant-gold-backed-currency-transactions-outside-banking-system-1550821
https://en.wikipedia.org/wiki/Vaulted_gold
Nojokur
Nojokur

@Raving_Cute
anybody?

Spazyfool
Spazyfool

@Nojokur
I'll sell you some gold

Supergrass
Supergrass

@Raving_Cute
I know very little about

Stop right there. Just cut it out. Get back to work user!

Booteefool
Booteefool

@Supergrass
I bought a Krugerrand and some silver 1oz bars from APMEX

so I'm good I guess

Spamalot
Spamalot

@Raving_Cute

Is there an explanation behind that pick of UBS?

Firespawn
Firespawn

10oz or 1kg bars are best if you're gambling on the price and confident

100oz bars are slightly cheaper, but hard to sell and difficult to transport, so not worth it

Personally I prefer coins, because they will always keep a certain value regardless of the silver price, plus their premium can increase over time

Coins that have had good premium appreciation (in order):

Chinese Panda (fakes are a concern)
Australian Lunar series
Australian Kookaburras

I recommend buying low-premium 1oz coins. Not ASEs or Maples or generic rounds as they have 0 appreciation. New pandas/lunars/kookaburras don't have much of a premium at release. 1/2oz coins can be worth buying too if the price is right. 2oz/5oz/10oz coins are ok, but have less premium appreciation and buyer interest. 1kg+ coins no good.

For gold, 1/10oz coins for value appreciation. 1oz coin for minimal premium. I wouldn't buy bars due to fakes and the fact that 1oz coin costs about the same as a bar anyway, but 5g bars are pretty popular where I am.

Best find a buyer/seller community, or a cheap dealer (not a coin shop or mint).

SniperGod
SniperGod

@Spamalot
no it's just a funny picture I picked up somewhere

I was hoping there would be one for each bank but I can't find a template or any others

@Firespawn
awesome post, thank you very much!

w8t4u
w8t4u

@Firespawn
This user has it down pat. Sound advice.

Techpill
Techpill

@Firespawn
how do I find a buyer/seller community?

RumChicken
RumChicken

@Techpill
Coin shops unlikely to give you the full premium. Can sell on ebay or various silver stacker forums.

Nojokur
Nojokur

@Raving_Cute

If you're looking to buy gold or silver and only care about the bullion value and not any sort of collectible value, then I would recommend the following:

Gold:
1. 1 ounce Canadian Maple Leafs
2. Credit Suisse or PAMP Suisse 1 ounce gold bars in assay packages.
3. 1 ounce Vienna Philharmonics

The above have low premiums over spot price, are highly recognized, and are relatively easy to verify as real. I would not recommend anything smaller than 1 ounce because you start getting chewed up by premiums. If you have a lot more money, you can buy 1 kilogram bars to further cut down on premiums.

Also nice are American Gold Eagles (22 karat), American Gold Buffaloes (0.9999), Australian Kangaroos (0.9999 pure). The American Gold Eagles are the only non-24 karat gold products I buy. There is a slight premium for 24 karat products because they're easier to re-use.

You can also purchase gold from BullionVault if you do not mind having someone store the gold for you. The gold there is allocated and stored in vaults run by VIA MAT.

You can also own gold through trusts that are traded on stock exchanges. The Sprott Physical Gold fund (PHYS) is a reasonably good choice.

As for silver, the premiums are pretty high for most of the quality coin products. Silver Maple leafs and American Silver Eagles are highly recognized and are very high-quality coins. Other than those two coins, you're probably best off buying bullion bars from well-known foundries.

As with gold, you can also own silver through BullionVault or through securities such as PSLV or CEF, which is a blended gold and silver trust. Being that silver is
or lower value density than gold, though, storage costs are relatively expensive.

As a matter of disclosure even though I'm an anonymous poster, I own Canadian Maple Leafs, American Eagles, American Buffaloes, Vienna Philharmonics, Australian Kangaroos, have an account with BullionVault with a few kilograms of gold, and also own shares of PHYS.

Methnerd
Methnerd

@Nojokur
cool, thank you.

I'm going to buy some of those PAMP bars with the cash I have left.

Carnalpleasure
Carnalpleasure

Vanguard index fund or bitcoin would be wiser

BunnyJinx
BunnyJinx

@Nojokur
No Krugerrands
No aus kangaroos

Burnblaze
Burnblaze

Physical gold ETF such as:

IAU , SGOL

Firespawn
Firespawn

Buy junk silver at a coin shop. Say you'll pay for culls 90%. Usually if you find a big enough coin shop the owner will be happy to make a deal. Don't expect any numismatic value just strictly silver

LuckyDusty
LuckyDusty

@Raving_Cute
Scottsdale silver.

Booteefool
Booteefool

@BunnyJinx
I actually own Australian Kangaroos. I didn't recommend them because, at least for me, the premium is high. They're nice, though, and 0.9999 pure.

As for Krugerrands, they're widely-recognized but they're not 24 karat gold. As I mentioned above, the only gold I buy that is not 24 karat are American Gold Eagles. I live in the U.S. so that affects my decision.

For those that do not live in the U.S., they might prefer Krugerrands. If I remember correctly, the premium on Krugerrands is lower than the premiums on coins from the U.S. Mint.

Firespawn
Firespawn

@Nojokur
if you do not mind having someone store the gold for you.
Assuming in general you're okay with someone storing your gold/silver, would you think it would be safe with some of these places I've ran across while trying to research for good places to buy and store gold.
http://theantimedia.org/texas-to-open-gold-backed-bank/
http://www.thedailyeconomist.com/2015/10/got-karatbars-new-texas-gold-depository.html
http://www.zerohedge.com/news/2015-09-20/going-back-what-works-gold-money-again-thanks-utah
https://www.everbank.com/investing/metals
https://www.everbank.com/investing/metals/gold
http://www.personalincome.org/everbank-review/
http://www.businesswire.com/news/home/20150612005800/en/EverBank-Launches-MarketSafe%C2%AE-Power-MetalsSM-CD
http://dailyreckoning.com/how-to-keep-your-silver-safe/
http://www.cardrates.com/news/new-golvercard-backed-gold-silver-bullion/
https://www.weusecoins.com/bitgold/
http://www.ibtimes.co.uk/bitgold-delivers-instant-gold-backed-currency-transactions-outside-banking-system-1550821
https://en.wikipedia.org/wiki/Vaulted_gold

GoogleCat
GoogleCat

@Firespawn

One must be careful in selecting the company that vaults precious metals. For starters, the precious metals must be allocated, meaning that a specific coin, bar, or ingot is solely owned by you and not encumbered in any way. That way, if the vaulting company fails and is liquidated, your precious metals cannot be claimed by the company's creditors.

Also, there needs to be a regular audit of the precious metals in the vaults. Without an audit, there is the risk of the vaulting company (especially if it's a bank) hypothecating your precious metals. In the event the company goes bust, you'll find out that you have an IOU and have to stand in line with the rest of the creditors. The management that fraudulent lent out your precious metals may not even be prosecuted.

Finally, it's probably a good idea to have the vaults in a part of the world that isn't too friendly with confiscatory governments. I store the gold I have with BullionVault in Switzerland. I don't think I would ever choose to store it in New York City.

What I have done is have gold in three forms: 1. In my physical possession or very close by in a local safe deposit box, 2. In a vault in a country that has strong property rights with respect to banks (this is not the the U.S. where the banks are criminal enterprises that are not prosecuted), 3. In trusts/ETFs that are traded on a stock exchange.

Playboyize
Playboyize

@Firespawn
I would add that Pandas have substantially increased their annual mintage in the last few years. Uncertain at this stage how it will effect future premium increases. Fake Pandas is also a problem.

I like 1/4 ounce gold coins, especially Perth Mint Lunars and Pandas.

Any gold or silver bullion at spot is a good buy.

Until you know what you are doing, buy from reputable sources to minimise the chances of being slipped fakes.

WebTool
WebTool

ASE and any murrican coin are univerally recognized.
I also recall people saying that either gold is overpriced or silver is under priced. So silver is the more logical one to buy, unless you are so rich it doesn't matter and that volume becomes a real concern.

RumChicken
RumChicken

I see a pattern here

some ppl clamor about american eagles and maple leafs, while the rest about kangaroos, philharmonics, or what have you.

I'm going to speculate it comes down to your location. the maple leafs and eagles are going to be cheaper in north america and (relatively) more expensive elsewhere, whereas a kangaroo would be cheap in australia, but expensive in north america.

tl;dr
location, location, location
do your homework and comparison shop.

Disable AdBlock to view this page

Disable AdBlock to view this page