Acquiring gold as privately as possible

Discussion of the Gold portion of the Permanent Portfolio

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bitcoininthevp
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Acquiring gold as privately as possible

Post by bitcoininthevp » Thu Aug 29, 2019 7:38 pm

What is your experience in getting physical gold "anonymously"? Or as privately as possible. I know I can order online, but they have my address at the very least. Never done in person, but there is a loss of privacy there unless Im wearing a ski mask. Thoughts?
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Xan
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Re: Acquiring gold as privately as possible

Post by Xan » Thu Aug 29, 2019 8:12 pm

Even without a ski mask, I would think in person with cash is by far the most private option. Especially if you're in a town or part of town where you're unlikely to run into somebody you know. Anything else will leave behind a record which is pretty trivial to dig up.

There's a store here in town that's a local institution for firearms, and they're also a coin dealer. It's a pretty good setup.
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technovelist
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Re: Acquiring gold as privately as possible

Post by technovelist » Fri Aug 30, 2019 9:56 am

bitcoininthevp wrote:
Thu Aug 29, 2019 7:38 pm
What is your experience in getting physical gold "anonymously"? Or as privately as possible. I know I can order online, but they have my address at the very least. Never done in person, but there is a loss of privacy there unless Im wearing a ski mask. Thoughts?
I don't recommend going into a bullion dealer's office with a ski mask on. They tend to get nervous about such things, and they are well defended.
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dualstow
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Re: Acquiring gold as privately as possible

Post by dualstow » Fri Aug 30, 2019 3:41 pm

I bought some coins in person. I'm sure they don't remember me. I didn't like that the vendor said out loud what my trick was for hiding it for the walk home, but besides that it went fine. These days I probably wouldn't be as nervous, but I order online, anonymously. Totally nomynously.

You could always buy one town over from yours.
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Xan
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Re: Acquiring gold as privately as possible

Post by Xan » Fri Aug 30, 2019 3:45 pm

dualstow wrote:
Fri Aug 30, 2019 3:41 pm
I bought some coins in person. I'm sure they don't remember me. I didn't like that the vendor said out loud what my trick was for hiding it for the walk home, but besides that it went fine. These days I probably wouldn't be as nervous, but I order online, anonymously. Totally nomynously.

You could always buy one town over from yours.
What was your trick?
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dualstow
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Re: Acquiring gold as privately as possible

Post by dualstow » Fri Aug 30, 2019 7:52 pm

Xan wrote:
Fri Aug 30, 2019 3:45 pm
dualstow wrote:
Fri Aug 30, 2019 3:41 pm
I bought some coins in person. I'm sure they don't remember me. I didn't like that the vendor said out loud what my trick was for hiding it for the walk home, but besides that it went fine. These days I probably wouldn't be as nervous, but I order online, anonymously. Totally nomynously.

You could always buy one town over from yours.
What was your trick?
Nothing special. I put everything in a large coffee thermos. Boss behind the counter smiles and says way too loudly, “Oh, so it looks like coffee!” The few heads in the store swiveled in our direction. It worked out, though. I walked home.
Under political pressure, Chick-Fil-A 🐓 chain cuts off the Salvation Army - wsj. :o
Vanguard treasury money market now yields 1.71%
compounded (last week, 1.72-3%)
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Smith1776
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Re: Acquiring gold as privately as possible

Post by Smith1776 » Sat Aug 31, 2019 5:57 pm

The privacy aspect has always had me buying from a local dealer in cash. In the absolute worst case political scenario, I don't want the big G knowing I have gold based on my bank account transactions.

I always drive, so that way my car is a moving suit of armour that can protect me on the way home... On those days I muse about when Iron Man suits will be a reality. Then I realize I spent all my money on PP and VP investment and realize I'd probably never buy such a thing anyway. ^-^ ^-^ ^-^ ^-^ ^-^ ^-^ ^-^ ^-^

I suppose there have got to be ways of acquiring even more privately than that... but I can't think of ways of doing so on a practical basis. I mean, there's a catch 22 here. It's probably only worth it to go even more private when you're transacting large sums. However, transacting large sums for precious metals (at least here in Canada) necessitates extra scrutiny of some kind on the part of the dealer. Some kind of anti-money laundering laws of course.

But yeah, I think the easiest way to stay private is to just acquire slowly over time as you dollar cost average into the asset. I think that large purchases in a short time frame are what attract the most attention generally.
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KevinW
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Re: Acquiring gold as privately as possible

Post by KevinW » Tue Sep 10, 2019 7:59 pm

Xan wrote:
Thu Aug 29, 2019 8:12 pm
I would think in person with cash is by far the most private option.
+1. Spend less than $10k at a time to avoid the reporting requirement, or being a particularly memorable transaction for the cashier.
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