Best Deal right now on Gold

Discussion of the Gold portion of the Permanent Portfolio

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SomeDude
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Best Deal right now on Gold

Post by SomeDude » Mon Nov 30, 2020 11:05 am

https://bullionexchanges.com/1-oz-ameri ... aign=cyber

Can't beat this, a Gold Eagle for $65 over spot. That's less than 4%.
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Cortopassi
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Re: Best Deal right now on Gold

Post by Cortopassi » Mon Nov 30, 2020 11:13 am

Do you have a local coin dealer? I have never in 12 years of doing this paid more than $30-35 over spot. Granted, last time I bought physical has been a couple years.
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Kriegsspiel
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Re: Best Deal right now on Gold

Post by Kriegsspiel » Mon Nov 30, 2020 4:51 pm

My local dealers prices were so outrageous when I checked that I haven't bothered to anymore. Doesn't help that you have to call them and ask when you can skim a bunch of websites in the same amount of time and they'll tell you exactly what they're selling them for.
I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me. Who knows whether that person will be wise or foolish? Yet they will have control over all the fruit of my toil into which I have poured my effort and skill under the sun. . . Nothing is better for a man than to eat and drink and enjoy his work.
- Ecclesiastes
SomeDude
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Re: Best Deal right now on Gold

Post by SomeDude » Mon Nov 30, 2020 7:21 pm

Cortopassi wrote:
Mon Nov 30, 2020 11:13 am
Do you have a local coin dealer? I have never in 12 years of doing this paid more than $30-35 over spot. Granted, last time I bought physical has been a couple years.
I have 5 or 6 lcs. They're usually $100-$125 over spot for an eagle.

$35 over spot would be great even for a krugerrand or bar now.
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Cortopassi
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Re: Best Deal right now on Gold

Post by Cortopassi » Mon Nov 30, 2020 9:32 pm

SomeDude wrote:
Mon Nov 30, 2020 7:21 pm
Cortopassi wrote:
Mon Nov 30, 2020 11:13 am
Do you have a local coin dealer? I have never in 12 years of doing this paid more than $30-35 over spot. Granted, last time I bought physical has been a couple years.
I have 5 or 6 lcs. They're usually $100-$125 over spot for an eagle.

$35 over spot would be great even for a krugerrand or bar now.
Damn. I may need to drive over and see what his premium is currently.
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Xan
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Re: Best Deal right now on Gold

Post by Xan » Mon Nov 30, 2020 10:03 pm

Cortopassi wrote:
Mon Nov 30, 2020 9:32 pm
SomeDude wrote:
Mon Nov 30, 2020 7:21 pm
Cortopassi wrote:
Mon Nov 30, 2020 11:13 am
Do you have a local coin dealer? I have never in 12 years of doing this paid more than $30-35 over spot. Granted, last time I bought physical has been a couple years.
I have 5 or 6 lcs. They're usually $100-$125 over spot for an eagle.

$35 over spot would be great even for a krugerrand or bar now.
Damn. I may need to drive over and see what his premium is currently.
I'd be interested to hear.
SomeDude
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Re: Best Deal right now on Gold

Post by SomeDude » Mon Nov 30, 2020 10:25 pm

Guys if you're not physical don't let a tiny little premium be an excuse. In the long run its cheaper than the storage or management fees, and VERY possible you get most of it back upon sale. If you are a seller when others are panic buying......you might get a higher premium back than you paid.

You will also get something to fondle and maybe show the family. It will also be safer if we have a currency crisis or some black swan event.

I think people are intimidated a little in making the plunge. It's not as simple to change your mind and sell the position as with an ETF. It's not like you can see your brokerage account go higher if you just have coins. Trust me your appreciation for gold will change once you get the real thing. Be careful you might get hooked. No matter how many eagles or buffalos i add i love each one.

Do something fun and get one of each from all the majors before concentrating on the US mint or cheap bars. There's something special about holding them.

Do not skip out on the Britannia!
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Kriegsspiel
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Re: Best Deal right now on Gold

Post by Kriegsspiel » Tue Dec 01, 2020 6:08 am

Is there a relationship between premiums and spot price? Are there lower premiums when the spot price is high (to encourage buying), and higher when the price is low (when people will eat the premium to buy in at a great price)?
I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me. Who knows whether that person will be wise or foolish? Yet they will have control over all the fruit of my toil into which I have poured my effort and skill under the sun. . . Nothing is better for a man than to eat and drink and enjoy his work.
- Ecclesiastes
SomeDude
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Re: Best Deal right now on Gold

Post by SomeDude » Thu Dec 03, 2020 3:04 am

Kriegsspiel wrote:
Tue Dec 01, 2020 6:08 am
Is there a relationship between premiums and spot price? Are there lower premiums when the spot price is high (to encourage buying), and higher when the price is low (when people will eat the premium to buy in at a great price)?
There is a definite relationship between spot and premiums but it's non linear and there are more factors than just the spot price.

Ill elaborate on my experiences more tomorrow as i only buy physical gold, silver, and platinum, have a lot of it, and buy from multiple LCS and at least 8 different online stores.
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Xan
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Re: Best Deal right now on Gold

Post by Xan » Thu Dec 03, 2020 9:06 am

SomeDude wrote:
Thu Dec 03, 2020 3:04 am
Kriegsspiel wrote:
Tue Dec 01, 2020 6:08 am
Is there a relationship between premiums and spot price? Are there lower premiums when the spot price is high (to encourage buying), and higher when the price is low (when people will eat the premium to buy in at a great price)?
There is a definite relationship between spot and premiums but it's non linear and there are more factors than just the spot price.

Ill elaborate on my experiences more tomorrow as i only buy physical gold, silver, and platinum, have a lot of it, and buy from multiple LCS and at least 8 different online stores.
I'm really looking forward to that, and I think it would be an invaluable help to anybody looking to get started in physical.
SomeDude
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Re: Best Deal right now on Gold

Post by SomeDude » Thu Dec 03, 2020 7:20 pm

Sorry guys, very busy with work and a baby. I want to organize my thoughts so they're as brief as possible while still offering something to folks with minimal experience buying physical precious metals. I've probably bought from at least 15 different sources in the last few year's alone including 8-9 online dealers, 5-6 LCS's, and even the US mint direct.

I've bought every type of silver imaginable from junk to sovereign coins from almost everywhere to 100oz bars. I've bought platinum coins, french, US, Canadian, and Austrian as well as Swiss valcambi and pampe. 100% of my gold is in sovereign bullion coins. I've got Eagles, buffalos, maples, krugers, philharmonics, Britannia and even a panda. 70% at least is 1oz coins but there are plenty of quarters and some halves and tenths.

I hate premiums above spot but you def getting something for your money. The trick is getting good value for your premium after you minimize it a much as possible. I'll talk about what you get for it next post.

One concept that will seem crazy is with physical, sometimes the higher premium option really offers a better return.

Ok this weekend.
SomeDude
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Re: Best Deal right now on Gold

Post by SomeDude » Sat Dec 05, 2020 2:41 pm

Ok first thing about premiums is they are a legitimate cost of what you are paying for when you get a bar or coin. There is a cost to taking raw metal at spot, refining it, making a blank, minting a coin, and transporting it to a dealer.

The mint has capital labor costs.

Anyway, all that should be obvious but sometimes the obvious needs to pointed out.
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