Where and how do you purchase physical gold?

Discussion of the Gold portion of the Permanent Portfolio

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sophie
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Re: Where and how do you purchase physical gold?

Post by sophie » Thu Mar 22, 2018 8:07 am

I buy physical from Colorado Gold - easy and low cost, but you have to buy at least 7 coins per order.

I had looked at Goldmoney and Global Gold, but ended up going with Perth Mint for international storage. 100 year history and super conservative management won the day for me, as Goldmoney hasn't been around that long. On the other hand, you definitely have to file FBAR with a Perth Mint account over the $10K limit. I'll be hitting that later this year.
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Thu Mar 22, 2018 11:21 am

sophie wrote:I buy physical from Colorado Gold - easy and low cost, but you have to buy at least 7 coins per order.

I had looked at Goldmoney and Global Gold, but ended up going with Perth Mint for international storage. 100 year history and super conservative management won the day for me, as Goldmoney hasn't been around that long. On the other hand, you definitely have to file FBAR with a Perth Mint account over the $10K limit. I'll be hitting that later this year.
Congratulations. :-(

As for me, I'm getting rid of my foreign accounts because I can't stand the paperwork, and my wife is even more unlikely to want to do it if something happens to me.
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Re: Where and how do you purchase physical gold?

Post by barrett » Thu Mar 22, 2018 12:50 pm

Just thought I'd pass this along...

I put in an order with Kitco on Monday and wired $ the same day. Coins were shipped Tuesday and arrived via UPS on Wednesday even though I didn't pay for expedited shipping. Ten coins at $1,312 each. Insurance was $52.48 & the wire fee was $30. Price above spot was $21 per coin. All included my price above spot was just under 2.2%. Pretty damn easy and the coins are all 2016 Eagles in great shape.

This is one of the "special offers" on their site for which - at least this is my understanding - one cannot specify a year on the coins.

I have to say I am pleasantly surprised (and that my wife is a little freaked out that I bought gold online). Open package, fondle, make note to dig a hole in the back yard when the ground thaws.
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Hal
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Re: Where and how do you purchase physical gold?

Post by Hal » Thu Mar 22, 2018 1:45 pm

SGPMX may be an option.

Have used them with no issues

http://www.sgpmx.com

also....
https://www.jsmineset.com/2013/11/23/ji ... nge-sgpmx/
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Re: Where and how do you purchase physical gold?

Post by dualstow » Thu Mar 22, 2018 3:03 pm

barrett wrote: All included my price above spot was just under 2.2%.
Fantastic! I'm not buying anything until I pay my taxes. Otherwise, I'd be all over that. Probably won't have enough to buy ten coins, so I'll wait until I do, and another special comes along. Glad to hear there's another vendor that uses UPS and not the post office.
RIP Marcello Gandini
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Re: Where and how do you purchase physical gold?

Post by boglerdude » Fri Mar 23, 2018 1:33 am

https://www.jsmineset.com/2013/11/23/ji ... nge-sgpmx/

"Jim Sinclair said, “I believe the U.S. economy is headed for hyperinflation"
November 22, 2013

hmm
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Fri Mar 23, 2018 11:01 am

boglerdude wrote:https://www.jsmineset.com/2013/11/23/ji ... nge-sgpmx/

"Jim Sinclair said, “I believe the U.S. economy is headed for hyperinflation"
November 22, 2013

hmm
I don't see any other politically possible outcome. Is any Congress going to stop spending us into oblivion?
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Re: Where and how do you purchase physical gold?

Post by boglerdude » Sat Mar 24, 2018 12:13 am

When oil and food prices piss off enough voters, they'll crank up rates like Volker. Greenspan also, belatedly. Both caused "recessions" a word everyone uses like they should never be allowed to happen
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Hal
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Re: Where and how do you purchase physical gold?

Post by Hal » Sat Mar 24, 2018 4:25 am

boglerdude wrote:When oil and food prices piss off enough voters, they'll crank up rates like Volker. Greenspan also, belatedly. Both caused "recessions" a word everyone uses like they should never be allowed to happen
I can't imagine what interest rates would have to go to in order to remove excess money supply (credit) in the US.
In Australia it peaked at around 18%
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Re: Where and how do you purchase physical gold?

Post by boglerdude » Sat Mar 24, 2018 4:42 am

Taxes can also sop up dollars

Image

I dont know how easy it is for the rich to leave the country if they get too high...
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Sat Mar 24, 2018 2:02 pm

boglerdude wrote:When oil and food prices piss off enough voters, they'll crank up rates like Volker. Greenspan also, belatedly. Both caused "recessions" a word everyone uses like they should never be allowed to happen
They can't let rates go up to normal. The US budget deficits would head for the moon if they did that, due to the enormous amount of debt they have issued.

They're trapped.
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Sat Mar 24, 2018 5:11 pm

boglerdude wrote:Taxes can also sop up dollars

Image

I dont know how easy it is for the rich to leave the country if they get too high...
It's not that hard, although still quite annoying. The main issue is getting another citizenship and giving up your US one.
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Re: Where and how do you purchase physical gold?

Post by Kriegsspiel » Sun Mar 25, 2018 1:38 pm

I've seen Puerto Rico, the Channel Islands, and Hong Kong mentioned.

But really, you can be pretty fucking rich and not need to deal with renouncing your citizenship. gocurrycracker has written a lot about how international travellers don't need to worry about taxes.
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Sun Mar 25, 2018 7:34 pm

Kriegsspiel wrote:I've seen Puerto Rico, the Channel Islands, and Hong Kong mentioned.

But really, you can be pretty fucking rich and not need to deal with renouncing your citizenship. gocurrycracker has written a lot about how international travellers don't need to worry about taxes.
That is generally true... unless they are US citizens, in which case they are subject to US tax law no matter where they live.
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Sun Mar 25, 2018 7:34 pm

MangoMan wrote:
Libertarian666 wrote:
boglerdude wrote:Taxes can also sop up dollars

I dont know how easy it is for the rich to leave the country if they get too high...
It's not that hard, although still quite annoying. The main issue is getting another citizenship and giving up your US one.
The question is: If the rich want to leave, where would they go? If tax rates go that high here, they will certainly be even more confiscatory in Europe, Australia, etc. I don't know about you guys, but I think I would have a tough time moving to Asia or South America, and it may not be much better there anyway.
If I were rich, I would move to Switzerland. No, it's not perfect, but it's way ahead of anywhere else that I know of.
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Re: Where and how do you purchase physical gold?

Post by ochotona » Sun Mar 25, 2018 7:59 pm

My daughter is doing an engineering internship in Switzerland this summer. I have a feeling she's going to go to grad school there. It sounds great.
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Sun Mar 25, 2018 8:02 pm

ochotona wrote:My daughter is doing an engineering internship in Switzerland this summer. I have a feeling she's going to go to grad school there. It sounds great.
That sounds great. I wish I had had that opportunity early in my career.
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Re: Where and how do you purchase physical gold?

Post by Kriegsspiel » Mon Mar 26, 2018 9:57 am

Libertarian666 wrote:
Kriegsspiel wrote:I've seen Puerto Rico, the Channel Islands, and Hong Kong mentioned.

But really, you can be pretty fucking rich and not need to deal with renouncing your citizenship. gocurrycracker has written a lot about how international travellers don't need to worry about taxes.
That is generally true... unless they are US citizens, in which case they are subject to US tax law no matter where they live.
The GCC reference was to having no earned income, so that capital gains/dividends/interest are tax free (for US citizens).
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Re: Where and how do you purchase physical gold?

Post by Libertarian666 » Mon Mar 26, 2018 11:59 am

Kriegsspiel wrote:
Libertarian666 wrote:
Kriegsspiel wrote:I've seen Puerto Rico, the Channel Islands, and Hong Kong mentioned.

But really, you can be pretty fucking rich and not need to deal with renouncing your citizenship. gocurrycracker has written a lot about how international travellers don't need to worry about taxes.
That is generally true... unless they are US citizens, in which case they are subject to US tax law no matter where they live.
The GCC reference was to having no earned income, so that capital gains/dividends/interest are tax free (for US citizens).
There is no special treatment for capital gains, dividends, and/or interest for expatriates. Sure, if your gross income is low enough you won't have any tax liability, just as you wouldn't if you were living in the US, but that isn't special for expatriates. In any event, you still have to comply with US tax laws, which include a lot of extremely unpleasant paperwork if you have any significant amount of assets outside the country.
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Re: Where and how do you purchase physical gold?

Post by Kriegsspiel » Tue Mar 27, 2018 8:59 am

Yea, my mistake. The expatriate part was related to earned income.
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Re: Where and how do you purchase physical gold?

Post by dualstow » Mon Apr 09, 2018 1:49 pm

barrett wrote:Just thought I'd pass this along...

I put in an order with Kitco on Monday and wired $ the same day. Coins were shipped Tuesday and arrived via UPS on Wednesday even though I didn't pay for expedited shipping. Ten coins at $1,312 each. Insurance was $52.48 & the wire fee was $30. Price above spot was $21 per coin. All included my price above spot was just under 2.2%. Pretty damn easy and the coins are all 2016 Eagles in great shape.

This is one of the "special offers" on their site for which - at least this is my understanding - one cannot specify a year on the coins.

I have to say I am pleasantly surprised (and that my wife is a little freaked out that I bought gold online). Open package, fondle, make note to dig a hole in the back yard when the ground thaws.

You were smart to wire.

I just tried ordering a few coins (not 10) from the same vendor, but never got past the credit card page. I selected personal check, but you have to enter a credit card to proceed. There were a few strange things:
- Personal check option says less than $10,000. Why? Maybe because it's my first order? I have paid by check for more than that to other vendors.
- After I entered the credit card info, I got kicked out of the order process.
- I got on the online chat with a cust svc rep, who confirmed that the order had not yet gone through. Tried more than one card, and got online with my bank to make sure they weren't blocking anything. (They regularly block me from buying something like a plane ticket until I resend my info and security answers).
- In the end, I canceled the order. Shrug. I will try again someday, but it looks like I'm back to apmex for now, though they are about US$6 per coin more than the special from kitco, if I remember right. (Kitco price went up a few dollars, dollar by dollar as I scrambled to complete the order).

This is my fifth vendor, and my second online vendor. (1 local, 2 by phone, 2 online). This is the first time I couldn't get an order through, not including my bitcoin-for-gold disaster at Apmex.
RIP Marcello Gandini
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Re: Where and how do you purchase physical gold?

Post by dualstow » Wed Apr 11, 2018 7:50 am

^ Hmm, I wonder if I missed my chance. ^
Short-term thinking, I know.
RIP Marcello Gandini
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Re: Where and how do you purchase physical gold?

Post by buddtholomew » Wed Apr 11, 2018 8:46 am

dualstow wrote:^ Hmm, I wonder if I missed my chance. ^
Short-term thinking, I know.
Nah, premium is 2.2% and gold is up less than 1%...the way I see it you are up 1.2% ;)
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Re: Where and how do you purchase physical gold?

Post by Jack Jones » Wed Apr 11, 2018 10:44 am

blue_ruin17 wrote:For physical (40% of my gold allocation) I order from silvergoldbull.ca. Free, fast shipping; usually the lowest premiums I can find. Online dealers are pretty much the only way to go, IMO -- brick and mortar dealers just can't compete.
I don't have enough cash in taxable space to buy physical gold yet, but I'm planning on buying it from a brick and mortar place for privacy. I imagine I can walk in, buy a coin with cash and walk out without them knowing anything about me, right?
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Re: Where and how do you purchase physical gold?

Post by dualstow » Wed Apr 11, 2018 1:04 pm

Jack Jones wrote:I don't have enough cash in taxable space to buy physical gold yet, but I'm planning on buying it from a brick and mortar place for privacy. I imagine I can walk in, buy a coin with cash and walk out without them knowing anything about me, right?
I think that's true, at least until an ounce is more than $10,000. I don't know for sure, because I used a personal check, never cash.
It seems unlikely that someone would go out of their way to buy a coin here and a coin there, at multiple local dealers, just to hide a large purchase. It would be more trouble than it's worth. So I would imagine you're right.

I found this. Hmm. https://www.caseyresearch.com/this-is-t ... cking-you/
buddtholomew wrote:
dualstow wrote:^ Hmm, I wonder if I missed my chance. ^
Short-term thinking, I know.
Nah, premium is 2.2% and gold is up less than 1%...the way I see it you are up 1.2% ;)
O0
RIP Marcello Gandini
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