welshsmoker
Well-Known Member
Hi All, just wondering what would be the best way of investing or buying gold in small amounts say 2 or 300 £/pounds worth at a time, any help would be appreciated..
how to buy/invest in gold...
- Thread starter welshsmoker
- Start date
cliffey501
Active Member
go to the bank and buy some gold bullion coins.
newatit2010
Well-Known Member
You might want to think about a farm and learn to grow food they say we are running out of food.
welshsmoker
Well-Known Member
i got a farm but i aint growing food...
Pipe Dream
Well-Known Member
Yeah, I wouldn't say collecting coins for numismatic value is for suckers but if your looking to invest in gold just try to get gold coins or bullion at the closest to melt value you can. I like apmex.com or maybe that isn't as good for UK so find something similar.
IXOYE
Active Member
Buy coins from your pawn shops - shop around - bring a pocket scale and know what you're shopping for. You can also buy gold tokens - which Have a lower sticker price than "collector" coins. I personally buy collector coins of US origin coined before certain dates because I can get great deals on them...DOWN AT THE PAWN SHOP....forget coin shops, Pawn shops won't screw you 'cos they get profit from other inventory and have been in the coin biz for a long time so they buy cheap too.
IXOYE
Active Member
or a bow and some arrows...or a gun...or a fishing pole. (I thought we were farmers here.)
gold isn't the only valuable 'coin'.
you can invest in uncirculated, 100% authentic, treasury pressed coins....
if they are uncirculated, still in a little package, they can go for a lot of money.
a guy i know has been collecting every 'special' quarter being released by the treasury, you know, the presidential quarters, the state quarters, the anniversary edition of some bullshit...
his collection was appraised at 1700 dollars last time we went to the auction, and he's only got about 60 bucks worth of legal tender, still in the package.... just because it's uncirculated....
it takes time for the coins to gain value, thelonger they spend 'uncirculated' the more value they obtain..... if the package is somehow open, the coins will only be worth the value stated on them, so its important to keep them UNCIRCULATED in the package!!
but if you have 30 years to wait, it might be worth buying some uncirculated coins and let the value pile on.....
this is a good option for ppl who don't want to mess with gold....
you can invest in uncirculated, 100% authentic, treasury pressed coins....
if they are uncirculated, still in a little package, they can go for a lot of money.
a guy i know has been collecting every 'special' quarter being released by the treasury, you know, the presidential quarters, the state quarters, the anniversary edition of some bullshit...
his collection was appraised at 1700 dollars last time we went to the auction, and he's only got about 60 bucks worth of legal tender, still in the package.... just because it's uncirculated....
it takes time for the coins to gain value, thelonger they spend 'uncirculated' the more value they obtain..... if the package is somehow open, the coins will only be worth the value stated on them, so its important to keep them UNCIRCULATED in the package!!
but if you have 30 years to wait, it might be worth buying some uncirculated coins and let the value pile on.....
this is a good option for ppl who don't want to mess with gold....
Buying coins made of base metal in the hopes that their uncirculated condition will gain them value in the future is a BAD BAD BAD idea. No offense Red, but base metal will never be as valuable as precious metal. The only coin the mint produces that is worth anything is the nickel, each one is worth 7 cents in metal value. The rest of our coins are base metal or copper and base metal sandwiches. Gold is valuable in every country and every society, Uncirculated US coins only have value to specific collectors of those coins, they might be valued at $1700, but you won't be able to sell them for that.
You don't have to mess with gold if you don't want to, Silver is an excellent play also, its up 200% in the last 20 months.
You don't have to mess with gold if you don't want to, Silver is an excellent play also, its up 200% in the last 20 months.
nl3004.kind
Active Member
but red isn't talking about getting coins at their meltdown price, he is talking about how they can be valuable due to their uncirculated quality... if one were to buy a coin that was uncirculated and then melt it, that person would be making a mistake... it's like buying a rare stamp and then using it for postage... there is no reason to not have a diverse portfolio and while rare coins can be valuable, so is gold, but they are not necessarily winning propositions in the short term... nothing is a guaranteed winner, but at least you can eat food if you grow your own... if the bottom falls out, a steak is going to be worth more than gold... real world skills are going to be what is prized more than any other...
golddog
Well-Known Member
Find a gold miner and buy the gold from him. I often pay 75% of spot from nuggets.
Here in California it's been tough going for the miners, they need the money, it's easy to get a deal. Or you can dig it up yourself.
Otherwise "sovereign gold coins", no paper. Like Krugerrands, or Canadian Maple Leafs, one ounce legal .999% gold.
Just my $1367
Todays Spot price for an ounce. 
Here in California it's been tough going for the miners, they need the money, it's easy to get a deal. Or you can dig it up yourself.
Otherwise "sovereign gold coins", no paper. Like Krugerrands, or Canadian Maple Leafs, one ounce legal .999% gold.
Just my $1367
Todays Spot price for an ounce. it's an esoteric way to spend your money, but not much crazier than spending money on gold in my opinion.....
and you won't spend a few hundred for a single coin.
you spend its value, plus a little premium for the packaging and paperwork.... and there IS a market for this, a smaller niche market where you won't have to PAY so much to be able to SELL your coins......
just throwing it out there.......
and you won't spend a few hundred for a single coin.
you spend its value, plus a little premium for the packaging and paperwork.... and there IS a market for this, a smaller niche market where you won't have to PAY so much to be able to SELL your coins......
just throwing it out there.......
When you sell silver or gold you get whatever the current spot price is. If your getting less your getting ripped off. Numismatic and collector coins are great IF you like them, but they are not and never will be a good investment. Uncirculated coins are nothing special, Proofs are much more collectible, but either way you go you won't end up increasing your purchasing power when you sell them, you will be lucky to see any real gain at all after taking into account inflation. Say you bought 4 uncirculated quarters in 1976, you could buy a gallon of gas in 1976 with 4 quarters. Now lets say in 2011 you can sell those 4 quarters for a dollar each, wow a 300% gain, and then you can still only buy a gallon of gas. No gain at all, inflation has stolen your money, and legally you should also pay the IRS their share of your capital gains, you end up losing more and now cannot even purchase a gallon of gas. Someone stole your money while you weren't looking.
whoah whoah whoah...
you got your numbers all bungled up. uncirculated currency is worth a lot more than what you are stating. that's the first thing. you have to find the right market, the right circles........
and secondly, you state gas as the good of choice to make a 'buying power' comparison. gas. quite possibly the most volatile commodity, whose price increases have been mostly caused by factors OTHER than inflation....
it's just a bad post overall.... i don't talk about buying gold a lot b/c i don't do it.
i think you should do the same for uncirculated currency.....
since i've owned some of it, i know how much it's worth, and no. it's not a capital gain, b/c uncirculated currency is not valued that way. in terms of acct, you use a fair market value assessment on it's worth, and any increase/decrease should be treated as profit... not a capital gain.....
anyways, i said it's a way to spend money. it's a hobby, a hobby which can be very profitable...
you also have to become part of a meticulous record-keeping institution which can get very interesting, b/c part of the value of uncirculated coins is previous ownership.... but anyways....
let's go back to the gold discussion...
let's say if i were to go to alaska and buy a stretch of land for 50k. and i find out that used to be a creek bed, and i pan for gold and find some nuggets.... how does the process of claiming those resources go???? i've always been curious...
do you go to the mineral management service??????
you also have to become part of a meticulous record-keeping institution which can get very interesting, b/c part of the value of uncirculated coins is previous ownership.... but anyways....
let's go back to the gold discussion...
let's say if i were to go to alaska and buy a stretch of land for 50k. and i find out that used to be a creek bed, and i pan for gold and find some nuggets.... how does the process of claiming those resources go???? i've always been curious...
do you go to the mineral management service??????
golddog
Well-Known Member
In the U.S.A. west of the Mississippi Federal land belongs to the people and you can claim mineral rights on B.L.M. and Forests. So you don't nessesarilly need to buy land.
But I think you were asking, "What do you do with the gold you mine?"
If you prospect for gold or mine it, when you get your hands on it is treated in accounting tax laws as a "salvage metal". So you don't pay tax on it until it is sold, and doesn't have any "Value" until it is fired or converted and assayed.
So I know a lot of people who have a couple hundred ounces of "Salvage Metal", which they are holding onto. It is very hard to trace and a lot of smaller miners do not pay tax on the gold sold.
Is that what you were asking ?
i was asking how do you claim the gold to be yours.... if you want a mineral claim, you have to pay somebody to enforce it.... you just go to the BLM and ask for a mineral claim, pay some sort of fee i imagine, and then it's yours??? interesting....
so the salvage metal thing, is it really treated as an asset with a value of zero??? that would complicate inventory tracking, wouldn't it???
and what about insurance?? don't insurance companies use the book value to determine how much to insure a good for??? if the salvage metal has a book value of zero, then it's theft would have no impact on a mining company's books, and therefore getting insurance on it would be impractical from a management perspective.... hmmmmmmmmmmmm
golddog
Well-Known Member
So let me put it into perspective. If you are going up to Alaska this summer and have a claim or are leasing a claim which has known gold on it, you will need to invest in the equipment required to retrieve it. If you have the where with all to finance your own expedition, you will be on the spot and make sure that no one takes any gold.
If you are a big organized mining company, you probably have many millions of dollars invested and lots of accountants, security people and managers to look after your gold.
And then it will be sold and TAX paid to Uncle Sam, and everybody else.
There are some people who hold a lot of un-reported gold. Hundreds of ounces.
I used to try and buy a Canadian Maple leaf every month. I've still got gold from when it was $300 an ounce.