Buying Gold And Silver

Frequently Asked Questions

1. QUESTION:
   Whats the point in buying gold and silver?
   Recently, our economy went down and people started getting into the fear that paper money would be useless. Then on the internet people started posting videos on youtube which people were talking about buying silver, gold, and platinum bullion on may different sites. I think this is really freaking stupid as some people just used the recession as a tool to trick people into buying their gold or silver.

   • ANSWER:
     Believe what you want to believe. The government is spending trillions of dollars a year that it does not have. It is basically printing more money, faster and faster, and this is a recipe for inflation.

     Gold and silver will get you through times of inflation much better than paper dollars.

     Grandpa

2. QUESTION:
   what's all this talk about buying gold and silver and how and where do I buy these?
   Do I buy these in physical form? I don't really want that. It does not appeal to me. Are these for sale as a stock? I'd rather buy these in non-physical forms. I still don't get the whole thing about buying silver and buying gold? Who uses these anyway? Well gold is for luxury items, isn't it? Silver is for what exactly again?

   • ANSWER:
     Buy the SLV - silver, and GLD - gold eft's. Silver, as well as gold is an excellent conductor of electricity. So both of these are used in small amounts in your computer, as well as other electonic equipment. Silver is also used in film.

     The only reason you don't have gold or silver wiring (as opposed to copper), in your home, is because it is too expensive.

3. QUESTION:
   Buying Gold and Silver, What types of coins or bars are the best to buy?
   I have been looking at buying some silver and gold bullion from http://www.apmex.com

   If I am buying bars or coins for silver and gold, what is the best ones to get if you just want it for the investment of the metal and not the actual coin etc? I don't care to be a collector of coins, just to have the metal!

   • ANSWER:
     For bars:

     Silver:

     Johnson Matthey
     Pan American

     Gold:

     Pamp
     Credit Suisse

4. QUESTION:
   How many are buying Gold and Silver?
   With the "New World Order" taken shape faster with Obama, the dollar is in serious free-fall. The only true currencies are the ones backed by gold/silver. If the dollar falls and the Fed monetizes debt, hyper inflation will make it worthless. What are you doing to protect your wealth?

   • ANSWER:
     Krugerrands. About 00 each today, about 0 twenty years ago. Portable, safe, easily convertible. But, keep a Glock handy.

     .

5. QUESTION:
   How do you know when you are buying gold or silver coins bars or nuggets that what you are buying is real tthe
   And when you do buy gold or silver where do you go to sell it .They say if you buy gold bars the goverment can take them from you at the going rate at the time of confication. Is this true. And do you have to pay taxes on gold.

   • ANSWER:
     You only buy from a reputable dealer. I buy my S African Kruggerands (1 oz gold) & silver bars from a local coin dealer. Buy from someone who is a known: U.S. Eagles, Canadian Maple Leafs, S African Kruggerands. My silver bars are from Handy & Harmons. They have serial numbers stamped into them.

     As far as I know, there is no national database of those that own gold. So how is the government going to confiscate these (gold & silver) if they don't know about them??

     You want to sell your gold & silver, just go back to the same person/dealer that you bought them from. I suspect you do pay taxes on any profits (of the sale).

6. QUESTION:
   How does one go about buying gold and silver?
   -Where do you buy gold and silver and other metals (for investment)?
   -What is the process?

   • ANSWER:
     If you have not done it before, Go to a reputable bullion dealer. Buy actual gold, the dealers will probably store it for you if you do not want to take actual possession. Buying derivatives, futures and even certificates (IOU's in old fashioned terms) is risky if the company you are dealing with ceases trading.
     the process is simple. Pay Cash , buy Gold. I do not know any bullion dealers that give credit.
     For Silver, just replace the word instead of gold in the above answer.
     A good place to start would be www.kitco.com

7. QUESTION:
   Does anyone have experience buying gold and silver bullion?
   I've never invested in precious metals but i want to put a good chunk of my savings in gold and silver since the dollar is sucking. what are the best places to buy? are there fees that take a large percent of your money or anything?

   • ANSWER:
     You really have more than one choice.

     1. Invest in a Mutual Fund that invests primarily in valuable metals. "GOLD" is one such fund but there are others out there.

     2. Buy actual "REAL" gold and silver bullion. There are loads of sellers out there who sell at the current spot price OR you can always find Gold and Silver Eagles available online at eBay (and can sometimes find some real bargains out there).

     Remember that Gold has generally NOT been a very good investment over the years and has regularly been outperformed by both the stock market and real estate. In fact, had you bought 1 ounce of gold in 1980 - you could have spent as much as 0 at that year's high. That would have been equivalent to ,150 in today's dollars (adjusted for inflation). In other words, you would have had a net loss of about 60% over the last 27 years!

     Hate to be the bearer of bad news ... but the hype about gold is just that, hype.

     Hope that helps!

8. QUESTION:
   Does the Central Bank of the Philippines buy Gold and Silver coins?
   Does the Central Bank of the Philippines buy Gold and Silver coins? I am a coin collector and I wanted to know if the Central Bank of the Philippines would buy Gold or Silver bullion coins from USA or Canada? I've heard that they have a gold and silver buying program.

   Can anyone let me know what their policy is regarding buying and selling gold/silver coins?

   • ANSWER:
     ......yes they are and even the small enterprises like pawnshops.....

9. QUESTION:
   If you want to start buying gold and silver, where do you start?
   I don't know anything about buying coins or bars. Where do I start?

   • ANSWER:
     I actually bought thousands of dollars of silver and gold off of E Bay last year. My buddy who is an extreme conspiracy theorist actually got me into it when he owed me money and paid me in silver. I asked where he got it and he said E-Bay. I'm sure there are better places but I've never used them.

     Edit: Also make sure you look up the value of gold for that day before you bid on it. You don't want to bid much more than it is worth. Make sure you count shipping when calculating how much you're paying per ounce or gram.

10. QUESTION:
    Why are so many ppl buying up gold and silver?
    In the past few years pawn shops have been heavy into buying gold and Silver.

    • ANSWER:
      With prices skyrocketing gold and silver prices are too. The difference with that is they have a much more stable value than that of the US dollar.
      Where if we were plunged into a Depression, paper money would be virtually worthless, gold and silver will still have value

11. QUESTION:
    Why are people buying gold and silver so much now?
    Ever where i go i see sighs that say we take gold and my mom keeps saying she was stupid not to buy gold in the past. Why are people doing this.

    • ANSWER:
      To fully answer your question would take a long time and more space then is allowed here but here are the basics.

      Gold and silver is money and a store of value. It is the "Currency of last resort" as Greenspan has stated many times through the years. Gold doesn't pay interest, dividends, doesn't restate earnings, has no lawyers, accountants, CEOs or CFOs lying to you on television. Gold doesn't ask for bailouts, doesn't go Bankrupt and cannot cook its books. Gold cant be debased or printed at the will of a company or government and holds its purchasing power.

      Gold sits there as a store of value, is labor intensive, and a one ounce coin will not split into a bunch of half ounce coins at the direction of the pin stripped bandits on Wall Street. Also Gold is the ONLY asset class in the last ten years to increase in value and retain every dollar of its purchasing power.

      Gold is NOT in a bubble. Gold has not gained in value. Paper currencies have declined in value. That is why essential goods and services cost more in paper dollar terms. Now you have to ask yourself where did the value of our dollar go. That value was stolen from us through a process of a hidden tax called INFLATION.

      The reason why you are seeing the sites and advertisements saying we buy gold is because gold is acting for those that are willing to sell it as a store of value. The gold and silver markets are the least understood of all asset classes and within the gold and silver markets there are so many different markets within the same sector. Each part of the gold and silver market is different then the other. Jewelry is one market and is the most difficult to understand of the gold and silver markets. Then there are the bullion and coin markets. These are split into 3 separate markets. You have the paper gold and silver markets. These are the futures contracts. Then you have the equities markets such as gold and silver mining stocks.

      People are beginning to relearn what has been lost through 40 years of history. They are learning what money is. And they are beginning to relearn why gold and silver has been money throughout history. Its only been the last 40 years where gold and silver were not seen as money. People are relearning what has been untaught since 1933. They are relearing what money truly is and they are turning to gold and silver as real money.

      I would submit to you that gold has not changed in value at all. Here is the reason why. In January 1999 when gold was at it low it traded at 7.85 an ounce. Crude oil in January 1999 for its low traded at .00 a barrel.

      When you look at how much crude oil you could buy in 1999 with 1 ounce of gold it comes out to be 16.93 barrels of oil for each ounce of gold. Today gold trades for 82.50 and oil is trading for almost .00 a barrel. Today the same 1 ounce of gold buys 16.13 barrels of oil. In 1999 gold bought 36 more gallons of crude oil then it does today. So in reality, since oil is the main driver of the economy as everyone needs energy to heat homes, fuel cars, run factories etc, Using oil as the basic foundation of to figure out the golds value you can see that gold is currently UNDERVALUED in relation to how much oil gold bought in Janaury 1999.

      When you begin to price everyday living expenses such as rent, fuel, power, food, medical expenses, schooling expenses, TAXES, etc you will see that the gold buys the same amount of those essential items you must have for a basic standard of living and quality of life.

      Therefore in reaility, GOLD is UNDERVALUED at this time. And if you take into account that the Bank of England dumped all their gold on the market in January 1999 pushing its price down, then you have to conclude that gold could really be valued much higher then where it is today when you base the purchasing power of gold in historical terms.

12. QUESTION:
    How should I start buying gold and silver bullion?

    • ANSWER:
      If you want to pay high fees, storage or shipping costs... buy bullion.

      If you want to be smart (like most professional investors) buy the ETF's GLD & SLV.

13. QUESTION:
    Does anyone know of a long term option strategy for buying gold and silver puts and calls?
    I know the market will have its ups and downs, but want to take advantage of the long term growth opportunies.

    • ANSWER:
      you can buy options on futures contracts. you get an unbelivable amount of leverage. ( i think its 20 to 1, or maybe 50 to 1)

      however, the smartest people in the world are working against you - you're better off buying gold coins or etfs.

14. QUESTION:
    what are the advantages of buying gold or silver bullion?
    once you've bought it and down the road need the money for it, how does one "cash" it in?

    • ANSWER:
      You cash in my selling it.

      Usually eBay is best to sell (not always best to buy).

      Check it out today, silver coins sell for a -20 an ounce!

      I've done this for 4 years, and I've benefited mostly by the appreciation of gold and silver alone, feel free to ask me any questions.

15. QUESTION:
    Why are people buying Gold and Silver now?
    Now that the economy is dropping and so is the dollar? I don't understand that.

    • ANSWER:
      When global economies are in a steep recession, the value of paper money goes down. Most paper currecies are not backed by anything other than the full faith of the government. So buying gold and silver (which have held a value for thousands of years) can be a way to leverage yourself against an impedning economic collapse. However, trading commodities like these can be very risky, and should only be done by people who fully understand how they work.

16. QUESTION:
    I was thinking about buying gold and silver but i'm nervous the Fed will raise interest rates?
    and crash the price. Should I be worried about this? Or just buy anyways?

    • ANSWER:
      Where to start...

      a) The Fed isn't going to raise interest rates anytime soon. The Fed is talking about QE3 now and Bernanke is defending buying only 0,000,000,000 worth of bonds. And you think tey might raise interest rates? If you think that the Fed will raise interest rates and you are right you can make fabulous amounts of money trading options on Fed Funds futures. Nobody thinks the Fed is going to raise interest rates soon and they are all willing to bet with you at fabulous odds.

      b) You are late to the gold and silver party.

      c) I have spent most of my adult life thinking of gold as a relic of a failed monetary policy and now everyone wants to own it no matter how unsophisticated they are at investing. Seems like a bubble to me....

17. QUESTION:
    Where to buy gold and silver coins in Los Angeles?
    Anyone know where I can buy silver and gold coins in Los Angeles and /or surrounding areas?

    • ANSWER:
      http://www.yelp.com/biz/wilshire-coin-exchange-santa-monica#query:gold%20coin

      Wilshire Coin Exchange
      1312 Lincoln Blvd
      Santa Monica, CA 90401
      Neighborhood: Santa Monica
      (310) 393-0661

      has good review and has coin all over the world.

18. QUESTION:
    Do you wonder why so many people are buying gold and silver?
    Could it be that Obama is destroying the U.S. dollar?

    • ANSWER:
      The dollar is depreciating.

19. QUESTION:
    Are you buying gold and silver, or are you convinced there will be an economic recovery and the dollar?
    will be worth something?

    • ANSWER:
      These articles will explain exactly why we should all put some dying dollars into gold investments....

20. QUESTION:
    Are you buying gold and silver? Or are you convinced we'll have an economic turn around?
    and the dollar will be worth something?

    • ANSWER:
      Seeing that I can no longer even keep track of the national debt, and interest rates have to go up eventually- unless China wishes to go in debt to keep on buying our debt- I believe there will be a high inflationary period.

      Making a good argument for gold and silver.

      BTW this is my 500th answer!

21. QUESTION:
    what are the biggest and most respected names of people buying silver and Gold?
    Soros and Paulson for example.
    And I don't want to hear the wise guys say it doesnt matter I have a reason for this question and I already know this.

    • ANSWER:
      Maybe they know something we don't. Like the world economy is going to collapse and they will have Silver and Gold for barter. Or they are betting the prices will skyrocket.

22. QUESTION:
    Is it a bad idea to buy Gold/Silver Coin right now?
    Looking at the graph of the history of gold/silver prices. Is it a bad investment to buy Gold/Silver right now? I mean if the price goes up from here(~785USD/ounce), wouldn't that be a an bad indication the economy is failing/collapsing and so I should get some for backup/emergency situations?

    And if I do buy some now and the price goes down like it should naturally, then I'm out a bunch of money right?

    • ANSWER:
      Compare 3 options:

      1) Buy an ounce of gold today for 9.20

      2) Put 9.20 in a bank account earning 3% per year

      3) Go buy 9.20 worth of Lehman Bros stock.

      Wait a year. What do you have?

      1) an ounce of gold ,worth anywhere from 0 to 00, depending on inflation. If inflation is 12%, Gold will be in the neighborhood of 0. I'm betting it will be higher.

      2) About 0 in dollars that have depreciated 12% in the past year

      3) A worthless piece of paper.

      Grandpa

23. QUESTION:
    Where is the best place to buy gold & silver coins?
    There are so many different places on the internet and I need help choosing. I'm looking to purchase around ,500 worth of coinage and am looking for a cheap but reputable company.

    • ANSWER:
      I've used Apmex.com for years without any problems, delivered right to your front door.

      http://apmex.com/

24. QUESTION:
    With the new socialist party rule in America, are you buying gold and silver?

    • ANSWER:
      Nope. The "socialist" party is replacing the "facists" that were n bed with corporate executives.

25. QUESTION:
    Should i buy gold & silver instead of investing in a 401k type investing or a IRA?
    Im 38 now with a full time blue collar job with 3 kids and wife.The market being the way it is and the way social security and medicare going to be gone in a matter of 20 years.When the market does go bad like it did in the 30s i will have some hard cash at least to trade when it all comes down to it.
    I mean buy buying gold & silver i mean by the 1 ounce bars and rounds to the 10 ounce

    • ANSWER:
      There seems to be a lot of people that are not only asking that question these but also answering it for themselves. They have been stocking up. There is one little problem with investing in gold and silver. They don't earn you anything. Another little problem is that they might get stolen. Probably happens 100 times every day. Maybe 1000 times. Those two problems have not prevented people from putting their money in those hard assets. I guess I can't really blame them what with the government trying to make the dollar worth less and less by the second. And then when they do they whine about inflation. Geez, sometimes I wonder about how good democracy really is except for those that can buy their votes.

      With the price of gold and silver at their current levels, I really can't recommend putting any money into them. I think you would be way better off in the long run with an IRA account with some KO, MCD, INTC, GE, and CVX in it. They all pay nice dividends and they will most likely do well no matter what our idiotic government does. They all can afford to buy their votes.

26. QUESTION:
    How to separate gold and silver?
    I am currently getting interested in buying gold in a minimal quantity. I bought a bullion silver 24k gold EP. Is there anyway I can separate the gold and the silver?

    • ANSWER:
      They are already separated until mixed together

27. QUESTION:
    What should I know before buying gold?
    I understand that paper money has almost no value anymore, they were never designed to replace gold and silver but to be receipts.

    Is it better to buy gold or silver?

    Does it matter what form the gold is in? Bars, coins, etc.

    How do I know that it is solid gold, if I buy from a government mint, is there anyway I can test the authentication of it?

    Would you suggest buying gold?

    Is 2011 a good time to buy gold?

    • ANSWER:
      A safe way to buy gold is to buy bullion in the form of internationally recognized gold coin, such as 1oz South African Krugerands or any other internationally recognized coin from various countries. They are the easiest way to move gold. Buyer's and seller's prefer not to have to weigh gold, determine its purity if they do not have to. Krugerands for example will buy and sell quickly just about anywhere in just about any city because they are quite easy to attribute a value to. If you spend a little time, you will always be able to find someone to buy or sell gold at spot price and can generally find commercial retailers in any city that will pay spot and sell at spot. They make their money in volume with the flexibility of the market.

      Stay away from ETF's, Antique coins, bars or buyers and sellers that do not buy and sell on the spot price. Gold vs Sliver is a debatable topic as to which is better. I prefer gold, but it's all a subjective perspective.

      Any time is a good time to buy gold if you are looking to have a tangibly valued item.

      Oh and, paper money never has had any value, never has, never will and fiat currencies will always collapse.

      Hiya's response; just about everything in hiya's response to your question is wrong. Be careful of what you read.

28. QUESTION:
    how does one go about buying gold and silver...?
    w/out getting the car dealership treatment...know what I want just don't know how to do it...clueless but not stupid

    • ANSWER:
      believe me, a real precious metals dealer will not give you the car dealer treatment; in fact, quite the opposite. they'll want to deal with you as little as possible, because they're sitting around all day watching their screens and keeping up-to-the-minute track of prices.

      you are their perfect customer if you have the money and know exactly what you want.

      don't get me wrong, the dealer i go to is very helpful, but has no pressure to make a sale or push one product over another.

29. QUESTION:
    where can i learn about buying gold and silver in uk?

    • ANSWER:
      http://www.taxfreegold.co.uk/goldpriceslive.html

30. QUESTION:
    Does anyone know where I can find a broker that buys gold and silver in buillon?
    I recently have been buying gold in very small quantities as an investment, but want to sell it for the going price and not the pawnbrokers price to big time brokers that give you at or close to the going ounce price.

    • ANSWER:
      You can try to the Stock Exchange or to your National Bank.

      Success !

      Valer BOCA

31. QUESTION:
    Buying gold and silver?
    I am thinking about buying some but have some drawbacks. Thanks in advance for your answer this is very important to me I hope for educated detailed answers or maybe a site I can learn from.

    Is it better to buy gold or silver?

    Is gold and silver expensive or cheap to buy right now? How much?

    I don't want to get ripped off and pay too much. How much should I pay? And where is the best place to get it for the best price? Where is the best place to get it that you can trust like maybe it is not pure gold or something?
    Specifically I am wondering how much the price can fluctuate. For instance is the price of gold dictated by inflation and if so how much will the dollars inflate/ deflate?
    Specifically I am wondering how much the price can fluctuate. For instance is the price of gold dictated by inflation and if so how much will the dollars inflate/ deflate?

    • ANSWER:
      I will try to address your questions one-by-one.

      "Is it better to buy gold or silver?" This depends on what it is you are trying to accompish. If you are speculating in the spot market, I would advise that you buy Platinum at this time. If you are trying to secure your family against the-end-of-civilization-as-we-know-it, you're probably better off to buy junk silver.

      "Is gold and silver expensive or cheap to buy right now? How much?" I am currently advising that a speculator's buying precedence be Platinum, Palladuim, Silver and then Gold. Gold is currently the least efficient of these four metals to speculate in. The "How much" part is difficult to quantify.

      "I don't want to get ripped off and pay too much. How much should I pay?" Again, this depends on what you are trying to accomplish. If you are speculating, you could open a commodities trading account, and between buying contracts and selling futures against them, you could probably buy at a net price that is below spot. How much you should pay is often related to how much volume you are planning on buying per transaction. I understand that 1% is typical for brokered spot accounts, and that 25% or more has been common recently for small-volume physical transactions.

      Also, I have found it useful to explain what you are trying to do. I had one situation where I found that buying a 1-oz. gold medalion cost less after taxes than did the "cheaper" coin - the coin has less of a premium over spot price, but it was a taxable transaction, and the madalion had been issued by a state, and was exempted from Sales Tax. If you explain what you want to do, a good dealer will be able to help you better than if you just call to ask for a price quote.

      The biggest discounts seem to be when you set up as a coin dealer, and buy from the Public. Somehow, I doubt you're looking to take that route.

      "And where is the best place to get it for the best price?" It pays to shop around. While one dealer may have a good price on Krugerrands one day, their competition across town may have the better deal the next day. If you are buying physical and want to take delivery, put your phone to work before you put the key in the ignition.

      "Where is the best place to get it that you can trust like maybe it is not pure gold or something?" If you are concerned about getting the quality you are paying for, buy yourself an electronic tester or a testing kit. Otherwise, you may want to do some background investigation (like with the BBB) or get a personal referral.

      "Specifically I am wondering how much the price can fluctuate." Check the charts at Kitco.com. if you look at the 1-year charts for gold, silver, etc. you will get an idea of how much fluctuation occurs.

      "For instance is the price of gold dictated by inflation and if so how much will the dollars inflate/ deflate?" Inflation sets a broad, slow, sweeping trend for the prices of metals, but supply and demand are what usually dictate the daily prices. A Hedge Fund that buys large volumes will drive the prices up faster than inflation will.

32. QUESTION:
    Where can I buy gold and silver bars, coins and bullions?
    Exactly, what is a bullion? Is it like a coin?

    I was wondering where online I can buy gold and silver bars and coins. Would I physically owned them? Or would they sit on a vault somewhere?

    Also, how can I make sure that the gold or silver I buy is real and not fake?

    Thanks.

    • ANSWER:
      When someone speaks of gold bullion they are reffering to the actual pure metal. Depending on the country, gold, when used in coins and jewelry has variable purity. But bullion is as pure gold as you can get. For instance, you cannot buy 24K gold in jewerly in the USA (only 18K I believe) but you can in Europe.

      First you should ask yourself whether you want to buy physical gold and silver. Here are the drawbacks. You will pay a spread or increased price when you buy and you will have to sell at a discount when you sell. There are so many places to buy coins and bullion from but you will have to pay on average 5-10% to buy and sell each way. That is not good. And yes some places will store it in a vault for you for an additional fee.

      You could also buy gold ETFs (GLD ticker). These are funds that sell at 1/10 the trading price of gold. They have ones for silver too. ETFs (Exchange Traded Funds) buy the actual gold (or silver) and store it in a vault. The great hing is you can buy and sell each day so your investment is liquid. If you have physical gold or silver it is not as liquid. Also, these metals are very volatile and are best traded--I buy when they sell off and sell when they have a big rally. But it's not that simple. And if you really aren't an experienced trader, you shouldn't try to compete with professionals.

      I would not buy gold or silver from eBay because they really do a bad job of policing fake merchandise and are actaully being sued by Tiffany's (maybe other venders) for allowing fakes to be sold. And you can't count on their guarantees of product authenticity. I have been screwed by eBay.

      Before deciding what, how much and when you buy gold and silver you should have a good idea about investments and the economy. The best book I have read that explains things like no other is "America's Financial Apocalypse." You should probably get the Condensed edition. The last chapter is all about investments. Good luck mate!

33. QUESTION:
    Should Christians buy gold and silver?
    I want to buy silver because we are seeing the banks printing and devaluing the pound but i stumbled across this just now
    Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days." - James 5:3

    What do you guys think

    • ANSWER:
      Gold, silver, GE, Microsoft...what's the difference? If you should only earn money (aka bread, water, clothes, etc) by labor then who owns the flock of sheep you are shepherding? Seems that Abraham was a pretty wealthy guy. Guess he did not subscribe to some socialist share the wealth or complete profit sharing scheme. No one hires you so that you have a job. They hire to profit from your labor. If you work for yourself it's the same thing. Profit is not a four letter word. And neither is investment income. No profit = no investment = no jobs = no bread and water.

34. QUESTION:
    buying silver and gold question?
    I've been buying silver and gold for a few years now. Bulk us/foreign junk, bars, and some collectible coins that I find interesting. I have a few questions. I check Kitco for my prices. Does the price continue to change in Europe, and on weekends after NY is closed? For example: I'm in Chicago, about 2:00am Sat. looking at Fri close. Will prices be changing in London, and Japan during there business hours? Question #2. I only have about 10oz Gold, but I have about 500oz of silver 1, & 10oz bars. (safe space is becoming an issue). I would like to sell some of the silver, and buy more gold. Is there a math formula to figure the buy, sell to value of each so I'm not screwing myself? I'm not very experienced at any of this. It started as a hobby about 5yrs back, and now that I have seen how much metals have grown I'm more interested. Any help would be great.

    Thank you

    • ANSWER:
      I have been buying my gold at http://www.det.goldfromkb.com you may want to check it out...

35. QUESTION:
    Where can I buy silver & gold by ounce?
    I'm interested in getting off the dollar and buying precious metals, and I would like to know where I can purchase gold & silver while the dollars still have a little value left?

    • ANSWER:
      You can try this site. They have a few of those:

      http://www.buy-a-rama.com/?q=Gold+bar+oz&button=GO!

36. QUESTION:
    Just curious. How many of you are buying gold and silver?

    • ANSWER:
      Right here. 80% Silver 20% gold.

37. QUESTION:
    What is the point of face value in gold/silver coins?
    im looking to buy gold and silver and i just dont get what is the point in the face value. does it mean if the gold drops under (thats the face value of the american eagle gold coin) then the coin will be worth or + or none of the above?

    • ANSWER:
      All coins produced by the US Mint per direction of Congress must have some denomination on the coin whether they are intended for general circulation, commemorations, collectors, or as bullion. The denominations on other than general circulation coins are more of a formality and will not be set near the intrinsic value of its metal content. By setting the face value much lower than the precious metal value, the confusion of which is to be used for a sale/purchase value is avoided.

38. QUESTION:
    How to buy GOLD and SILVER?
    I am intrested in buying gold and silver coins and bars. There seem to be different kinds and prices. I am not a coin collector. I am buying them to protect some of my savings. I am new to this. Can explain how to buy and the differences between different coins? What should i buy? All opinions are welcome.
    what about .999 and .900? what does that mean? How do you resell the coins?

    • ANSWER:
      there are indeed different gold coins and bars from various countries around the world. some of the major producers are Australia, China, South Africa, Canada and the United States.

      ideally you would want to buy them from a major dealer in precious metals rather than from a coin shop. i live in NYC, so there is a major dealer here that i visit personally. if you do not have a dealer like that nearby, you may have to rely on the internet. there are a handful of good dealers out there.

      as long as you keep track of the gold and silver prices, you will be able to tell how much you should be paying for an ounce or more without overpaying for anything made more for collectors. for example, i buy 1-ounce gold Krugerrands from South Africa because they are generally the cheapest above the gold price. if the gold price were 0/oz., let's say, i would expect to pay no more than 1% above the gold price plus dealer's premiums and commissions, which would be anywhere from 0-930. if i found a lower price than that, or if i knew someone privately i could offer just 0 to, then i'd do that in a second.

      there are many more gold products that the above countries make, which come in various sizes and fineness, and some are made as commemorative issues for collectors for which often a hefty premium is charged, sometimes double or more of the actual gold price. these would not be good for just protecting your savings.

      the story is similar with silver. i usually buy 1-ounce American Silver Eagles and Canadian Maple Leafs. the ASE's have a face value of US, and the CML's a face value of C. right now that is of little to no practical value, but in case of severe deflation or if everything else vanishes they are guaranteed to be worth at least that much. for these bullion coins i pay the silver price plus - premium per ounce. it seems like a lot, but i expect to get back most of the premium when i sell. i also have 100-ounce silver bars for which i paid only a 25-cent/oz. premium and 10-ounce bars for which i paid a 50-cent/oz. premium, but i find them a little more trouble to handle and store.

      .999 and .900 refers to the purity of the metal. for gold, .999 is 24 karat gold, which is practically pure. anything less than .999 means simply that another metal such as copper is mixed with gold to form an alloy. this is done because pure gold is unusually soft, as metals go, so it is alloyed to make it much harder for handling and transport. there is nothing wrong with having .999 coins, but they do scratch and dent if you throw them around. Krugerrands are 22 karat gold, or about .917 fine. fineness doesn't matter, as long as you know the weight of the gold itself. since my Krugerrands are only .917, each coin weighs more than 1 ounce, exactly 1.0909 ounces, to account for the addition of copper. .999 silver also means that it's pure, but i believe pure silver is harder than pure gold, so you won't find much bullion silver that is alloyed.

39. QUESTION:
    How many people are aware starting July 15 over the counter gold and Silver buying will be illegal?
    http://www.zerohedge.com/article/trading-over-counter-gold-and-silver-be-illegal-beginning-july-15

    This is very scary and proves that the US dollar is collapsing. And anyone who thinks this is to protect the people is wrong. Now the government and elites will hoard all the precious metals.

    • ANSWER:

40. QUESTION:
    Where is a good place to buy gold and silver?
    I'm looking to buy gold coins and silver coins and i'm not sure where a good place to buy them is. I'm looking for websites not actual street addresses. Any tips or advice would be greatly welcomed. Thanks!

    • ANSWER:
      Retail outlets like coin dealers and eBay are going to be the highest price.

      The lowest price will be from wholesalers and volume dealers in bulk that specialize in precious metals, not jewelry and rare coins.

      I've been using Apmex for several years without any problems, and the provide an intraday, updated metals quote continuously on their website.

      www.apmex.com

      www.kitco.com

41. QUESTION:
    Where can I buy Gold/Silver Certificates?
    Can I get them at banks? If not, where can I get them? Are these certificates redeemable for gold and silver? If these certificates are backed by Gold or Silver, are these worth less if the value of USD drops?

    • ANSWER:
      I dont believe you can buy gold or silver certificates online any more. You can invest in gold as a commdity. You can also buy gold and silver bullion and coins. http://www.blanchardonline.com/blanchard_products/bullion.php?content=18668274312. The price of gold has nothing to do with the USD. Also the USD is no longer tied to gold.

42. QUESTION:
    Where can i buy gold and silver? I want to buy coins, maple leafs, krugerranders, i need to save my money?
    I want to buy gold coins. And Silver coins.

    I need to save my money by investing in these raw materials. I need to buy maple leafs, krugerranders or kookaburra coins. Please guide me to the best sellers? I didnt find alot of trustworthy ones on the internet. But I need my gold!

    • ANSWER:
      I've used California Numismatic Investments. Found them to be totally reliable with good prices. Here is the website:
      www.golddealer.com. They also sell silver, platinum, and paladium ( not spelled correctly).

      If you are interested in investing in gold without taking possession, you might also look at these sites:

      www.everbank.com ( They sell a gold CD and a silver CD)

      There is also a gold exchange traded fund you can purchase if you have a stock brokerage account. It is offered by Ishares, and the ticker is GLD. The silver exchange traded fund ticker is SLV. So, there are a lot of ways to invest in the metals, without trading futures contracts!

43. QUESTION:
    Does it even make sense to buy gold and silver?
    Rationale: If there is a worldwide financial and economic catastrophe nobody will be able to buy your gold and your silver anyways, because they won't have money to begin with and if they do the paper money will be worth nothing. What could you do with your gold and silver if you could not sell it? There is no value in something you can't sell, right?

    • ANSWER:
      That extreme is so unlikely. You are talking about life as we know it ending-like a giant volcano erupting or being hit by a large meteorite.
      So long as a man can work, gold and silver will have value. Gold and silver *are* value. Nevermind how much currency you can buy with your gold, that is not important because in bad times people will gladly accept your gold or silver without needing to convert. In fact they would not even want you to. This is similar to US travelers that have ventured into foreign countries where the native currency is worthless; they beg you to spend your dollars there and in some cases do not even accept their own money from you.
      Do your ideas stand up to history in which these metals NEVER IN RECORDED HISTORY have been worthless? If you doubt their value, you doubt the existence of value in anything.
      It certainly makes sense to have other things of value available. In all cases possible, food, water, land, guns, gasoline, livestock, non-hybrid seeds and such are the best investments. But you will need things of liquid value too. The former are things that are easier to pillage, steal, confiscate via government or outlaw. Gold can be hidden.

44. QUESTION:
    Where and how to buy Gold and Silver bars?
    Hello, does any one know how is safest way to buy Gold and Silver bars? Where should some one buy them? Is there a very safe way to buy them? What are the best known brands of Gold and Silver bars? For example I've heard that Johnson Mathy is a famous silver bar brand. Please give some reliable ways to buy actual bars not paper.
    Thank you in advance.

    • ANSWER:
      Don't listen to the others here that don't know what they're talking about. Ebay is the worst place possible, highest prices you can pay for gold and silver. They can't possibly get close to the current price, when the auction is a week away.

      Moreover, gold could still easily double in price this year or next as easily as not; nobody knows, and nobody has the right to tell you it's going down like it's a fact. They simply have a faulty belief that they know something, when they don't.

      I've been trading silver through Apmex for several years. They give the current quote on their website. And they deliver right to your front door.

      http://apmex.com/

      I gave away 5 oz bars/coins of silver at Christmas two years ago to family members, and last Christmas they were almost double the price. The gift that keeps on giving.

      Oh, another good site:
      http://www.kitco.com/

      Incidentally, until the Flash Crash a couple of weeks ago, nobody realized that ETF's could freeze up and lock you out of trading or redeeming the underlying gold or silver. If one of the reasons you're buying gold is to protect against a crash in the system, then a paper ETF cannot protect you in the event of a crash or system failure.

      Read this article how GLD/SLV ETF's may not be redeemable and a list of which ETF's got locked out:
      http://www.gamingthemarket.com/financial-armageddon-zombies.html

45. QUESTION:
    Place to buy Gold/Silver bullion in Toronto?
    Hi,

    does anybody know a reliable place to buy gold/silver bullion in Toronto.
    I am not interested in buying via internet.
    Instead I want to walk into a store, see what they have to offer and pay cash.

    thanks
    Michael

    • ANSWER:
      Scotia Mocatta is the precious metals division of Scotiabank. You should be able to buy both gold an Silver bullion through any Scotiabank branch.

46. QUESTION:
    Should I buy gold or silver for and investment?
    Should I buy gold or silver for and investment?

    At this time or in the future would Gold or Silver be a good investment against inflation? Or should I invest in Oil?

    If all of those are not good options at this time, where should I invest my money to protect myself against inflation?

    • ANSWER:
      Gold, silver and oil are risky right now because of their price.Plus they pay no interest.

      Cash deposits (CDs) are insured to 100k at most banks. They pay more interest than the inflation rate, so they fit your request. Check Bankrate.com for best rates.

      Another idea are ibonds. These will increase in value if inflation increases. You can buy these from fed directly.
      If you prefer you can buy TIPS from Vanguard. The Vanguard TIPS fund has a yield of 2.40%, plus inflation protection.

      Also, if you want10-15% in stocks (which will rise over time), you can buy Vanguard's total stock market index fund . all stocks in us market (5000+) are in the fund. So, the fund is very diversified. That means if a single stock goes down it will not hurt you.

      Here's what i would do
      10-50% stocks (vanguard total market index)
      10-20% Int'l stock fund (vanguard int'l market index fund)
      10-30% TIPS or ibonds (from vanguard or treasury direct)
      10-50% CD's (from a bank)

47. QUESTION:
    Is it good for society as a whole for individuals to buy gold and silver?
    Does it help the economy if more people buy gold and silver? Does it create a wider gap between the upper and middle class (which is bad)?

    • ANSWER:
      It's a good question, but complicated. You might check out this site, it has a lot of articles about investing in gold and silver, and also several recommended books. It seems to have a wealth of information for the beginning gold and precious metal investor.

      http://goldbullioninvesting.blogspot.com/

48. QUESTION:
    where can i buy gold and silver in tokyo?
    1. i dont want jewelry
    2. i want to buy gold and silver purely as a long term investment
    3. is wealth accumulated from gold and silver personal reserves taxable when you resell them?

    • ANSWER:
      If you make money on it, you have to pay taxes on it. In any country in the world, the tax man wants his cut.

49. QUESTION:
    Been buying gold for over 20 years. Recently started selling. Do I need to report income on sales?
    Been buying gold / silver for 21 years as an investment. I have spent maybe 0,000 during the last 21 years. Gold prices have been creeping up... Recently I've been melting it down and selling it... Last year I sold about ,000. Do I have to report it as income or do I report it as income after I make 100,000?

    • ANSWER:
      All profits are taxable capital gains just like stocks.

50. QUESTION:
    does anyone buy gold or silver coins or bullion as investment?
    i need information pertaining to buying gold and silver in its metal form as an investment... what are the pros and cons of buying it

    • ANSWER:
      Coin silver and silver bullion also discussed

      Investors buy silver coins, silver bullion coins, and coin silver for one of three purposes: as an investment, as an inflation hedge, or for survival purposes. Investors who buy for investment purposes look for price increases because of silver's supply/demand fundamentals. For example, in 1998 Warren Buffett purchased 129.7 million ounces of silver for Berkshire Hathaway, a holding company that Buffet heads.

      Buffett's silver purchase, which became legendary among silver investors, was probably for investment purposes. However, it may have been an inflation hedge; Buffett did not say. In fact, Buffett said very little about his silver investment, even after he disposed of it. One thing is certain, however, Buffett did not buy 129.7 million ounces of silver for survival purposes.
      Silver bullion as an inflation hedge

      Investors who want protection against inflation buy silver and gold as inflation hedges. During the 1970s, silver and gold prices skyrocketed in response to price inflation that reached 13%. During the '70s, popular silver and gold investments included any form of silver bullion, from 1-oz silver rounds and pre-1965 U.S. 90% silver coins to 100-oz silver bars and 1-oz Krugerrand gold coins. When the Federal Reserve brought inflation under control in the 1980s, much of the silver bullion and the gold coins purchased in the 1970s were sold and the proceeds put back in paper investments.
      Coin silver for the worst-case scenario

      Investors who buy silver and gold for survival purposes fear the worst. Those fears include the Federal Reserve printing so many dollars that the dollar will become worthless, which is the history of all paper currencies not redeemable in gold or silver. Fear of a financial meltdown, which would close banks as in Argentina and Paraguay in 2002, is another.

      Argentineans and Paraguayans who had to foresight to bail out of the banking systems and convert their assets to gold or coin silver were protected. Not only did banks close, but also when they reopened depositors were limited in the amount of money they could withdraw. Meanwhile, the Argentinean peso and the Paraguayan guarani sank in value. Shortly after those crises, Brazil defaulted on its international debt and its paper currency, the real, sank.

      Those are the kinds of situations that investors who buy coin silver and small gold coins for survival purposes want to protect against. In doing so, these investors buy silver and gold in forms that can be used for money or to barter for goods and services.
      Silver Coins and Coin Silver for barter
      Small gold coins for barter

      The best forms of silver for survival purposes are pre-1965 U.S. 90% silver coins and 1-oz silver rounds. The most useful forms of gold would be fractional-ounce gold coins, such as the 1/10-oz Gold Eagles, the 1/10-oz Krugerrands, the ¼-oz Gold Eagles and the ¼-oz Krugerrands. But, before going forward, it is imperative that we discuss which coins to avoid. That is because hundreds of web pages promote numismatic and collector coins, as well as foreign coins. Such coins are simply wrong for survival purposes.

      If the time ever comes that silver coins and gold coins were again used as money, coins would be worth only their metal content. Numismatic (collector) premiums would disappear. Anyone using gold or silver coins to buy goods or services would not be asked, "What's the mint mark on your coin?" Nor will they be asked, "When was it minted?" The question would be, "What's the gold content?" Hand someone a St. Gaudens and tell him it contains .9675 ounce of gold, and it will be difficult--if not impossible--to convince him to accept it at more than .9675 times the price of gold.

      Numismatic premiums are fleeting in normal markets. (See our Double Eagle coins page.); you may also want to read our Myths, Misunderstandings, and Outright Lies page, which exposes the tactics used by telemarketers. Numismatic coins are bad investments for the average investor anytime; for survival purposes, they are simply wrong.

      If you ever need to use your silver and gold to buy goods and services, you will want silver coins and small gold coins. Additionally, those coins should have certain characteristics to ensure they are readily accepted. First, survival coins should be stamped in English. Most Americans do not read foreign languages.

      Second, the coins should have their gold or silver contents stamped on them; except for the modern bullion coins, most do not. In an emergency, having the gold content stamped on a coin could go a long way toward causing someone to accept it.
      Bartering with silver coins

      If your furnace goes out in January, the local heating guy may have never seen a gold coin before. If you hand him a St. Gaudens, how does he know it contains a little less than an ounce? If you try to get him to take British Sovereigns, how can you prove they contain .2354 ounce each? Try convincing the guy at the auto parts store that a French 20 franc contains .1867 ounce of gold.

      Third, the coins you buy for survival purposes should contain amounts with which Americans are comfortable. Americans understand one-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce coins. Americans do not easily grasp the concept of .2354 ounce or .1867 ounce.

      For survival purposes, avoid arcane foreign gold coins. (Despite more British Sovereigns having been minted than any other coin, Sovereigns are not well known in the U.S.) Simply buy the popular modern bullion coins. Krugerrands are the cheapest and best known. American Eagle gold coins are also readily recognized in the U.S., but carry higher premiums (markups over spot) than Krugerrands.

      Both Krugerrands and Gold Eagle come in four sizes: one-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce. For more information, visit our Modern Gold Bullion Coins page. (If you have been told that bullion coins are subject to confiscation and that old U.S. gold coins and/or foreign coins dated before 1933 are exempt, you really need to read Myths, Misunderstandings, and Outright Lies.)

      Another plus for Krugerrands and Gold Eagles is that both are basic bullion coins and sell at small mark-ups over the value of their gold content. Generally, however, Krugerrands carry lower premiums than Gold Eagles, but both Krugerrands and Gold Eagles carry smaller premiums than foreign coins of comparable sizes. And certainly, Krugerrands and Gold Eagles are cheaper than old U.S. gold coins.
      Silver coins or gold Coins?

      Finally, the question arises whether to buy silver or gold. Probably both, but if you are investing ,000 or less, go exclusively with one-ounce silver rounds or circulated pre-1965 U.S. 90% silver coins. Pre-1965 U.S. 90% silver coins are commonly called junk silver coins because they have no collector value and trade for the value of their silver content. If you are investing larger amounts, say ,000 up, you may want silver and gold.

      If conditions were to deteriorate to the point that silver and gold re-emerged as the preferred forms of money, you would want lots of small silver coins. If you were buying canned food, you would need silver coins because gold coins, even 1/10-ounce ones, would have great value. If you have only silver coins and need to buy something of high value, then you simply trade a larger number of silver coins.

      At current prices, an investment in silver results about fifty times the bulk and weight than if the same investment were made in gold. Therefore, large investments in silver create storage and handling challenges for some people. If storage and handling is a problem for you, then go exclusively with 1/10-oz Krugerrands or 1/10-oz Gold Eagles for the first ,000 or so. Still, try to have some silver coins on hand.
      Silver bullion coins or junk silver coins?

      The choice of the form of silver for survival purposes is a toss-up between one-ounce silver rounds and junk silver coins. Rounds have their silver content and purity stamped on them. However, circulated pre-65 U.S. 90% silver coins once served as money in the U.S. and could do so again.

      Actually, U.S. 90% silver coins were used for money in the U.S. as recently as the late 1960s, and many Americans remember using them. Yet pre-65 silver coins do not have their silver content stamped on them, but if the dollar were repudiated people would quickly learn the value of pre-1965 U.S. 90% silver coins.

      If you are considering silver and gold for survival purposes and would like to discuss the matter or if you would like to know more about silver coins and silver bullion coins, call us at 800-528-1380. Our normal hours are 7:00 a.m. to 5:00 p.m. MST, Mondays through Friday. However, we often take calls before 7:00 a.m. and after 5:00 p.m.

      http://www.frforex.blogspot.com/