Gyroscopic Investing

hi guys,

does anyone use :

http://www.blanchardonline.com

to buy gold coins?

i was looking for a reputable one stop shop to buy and sell my gold coins.  Currently i just use ETF.

anyone have any advice on this.

thanks

I have used http://www.apmex.com and was pleased.  Each 1oz Buffalo I ordered came in a US Mint plastic wrapper.

There are several dealers that have been recommended by members here.

I have used www.ajpm.com and have had good experiences (I have no relationship with them other than being an occasional customer).

APMEX has a pretty good reputation. As always though do your own due diligence and know how much your paying over spot. 3-5% is normal and reasonable. More than that and I tend to look elsewhere.

When its time to sell what  how much less than spot should i look for 3-5%?


have you guys sold back to these online gold shops?  how was the  experience?

Buying seems straight forward, but selling makes me uneasy.  sending a box of gold coins worth alot of money back to the online shop.

what recourse do i have if they say i send 4 coins back and they say 3 are in the box.

thanks

sk55 wrote: When its time to sell what  how much less than spot should i look for 3-5%?


have you guys sold back to these online gold shops?  how was the  experience?

Buying seems straight forward, but selling makes me uneasy.  sending a box of gold coins worth alot of money back to the online shop.

what recourse do i have if they say i send 4 coins back and they say 3 are in the box.

thanks

I can only talk about my feeling and experience, when I buy physical gold I buy it with the intention to never sell it, I consider this core gold. I also hold GTU for rebalance purposes that being said when I have purchased real gold I bought it from a local dealer where I could walk in and walk out with my gold. I am apprehensive with online dealing even if they are ok. I do not want to track a shipment etc. I want to it to be quick and easy. I walk in with money and out with gold end of story. My local dealer told as recently as two weeks ago when I enquired about how easy would it be to sell Pamp Gold 1 0z bars, I was told they would pay spot . Sometimes more depending on inventory.

I agree, physical gold should not be sold, short of an extraordinary bubble you want to cash in on.  The taxation, spread and hassles just doesn't make it worth it.

So realistically, you probably want some kind of arrangement for the majority gold portion to still physical but can be sold easily without hassle, like GoldMoney or BullionVault, though they aren't recommended due to their legal uncertainties, or a Perth Mint Certificate.  Better yet, maybe something like this: http://www.assetstrategies.com/Precious_Metals_Online

MG

i placed my first order on apmex!  I was pretty happy with the process, they were very patient and helpful on the phone.

Will see how long it takes.

The only thing else i am concerned with is storage.  For now i don't see my self holding too much physical, i would have to worry about insurance, where to store it securely, etc.

I thinking i might hold a small allocation physical (for emergencies) and the most of spread among Gold ETFs.

 

sk55 wrote: i placed my first order on apmex!  I was pretty happy with the process, they were very patient and helpful on the phone.

Will see how long it takes.

The only thing else i am concerned with is storage.  For now i don't see my self holding too much physical, i would have to worry about insurance, where to store it securely, etc.

I thinking i might hold a small allocation physical (for emergencies) and the most of spread among Gold ETFs.

Congratulations. Try to build up a years worth of essential living expenses in physical and then you can rest a little easier if you start putting some in an ETF. As for storage that is not a huge issue in my book.  A bank safe deposit box works just fine and is extremely safe. I personally favor 50/50 unless you have too much gold to store in a couple of safe deposit boxes. If you happen to have that high quality problem then you can just put everything that doesn't conveniently fit in two SD boxes into an ETF. If you are using more than one SD box I suggest holding them at different banks or at least different branches.

Blanchard has been around a long time, but I think they specialize in numismatic and rare coins.

I've been happy overall with Goldmart, except for the length of time for delivery (about 1 month).

Reub wrote: I've been happy overall with Goldmart, except for the length of time for delivery (about 1 month).

I guess I've always ordered more than $5k at a time so I get the promised 2 day turnaround from them.  Apparently smaller orders have to wait in line.  Still, one month seems like a long time.