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Mao
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Apolyton
Jun 1999
time: 00:28
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I've recently come into a bit of money (not much at all...but a lot for me...) and I want to hide it from colleges. I also want to buy something that'll keep it's purchasing power over the years. So I'm considering buying precious metals. I'm thinking gold or platinum...buy a bit, put it in a safe place (maybe a bank safe or whatnot) and take it out when I need it. Stocks maybe, but they're more of a risk. What do you think? Is there a good, trustable place, I could get some? I'm in the Northeast if that helps...
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MRT144
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Seattle Washington
Oct 2002
time: 21:28
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bonds? the only way id buy precious metals is in jewlery form, like getting a fat platinum chain.
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MichaeltheGreat
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Apolyton Grand Executioner
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mooning the house that Ruth built.
Oct 1999
time: 21:28
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Two things - check on whether you get screwed by sales taxes. In the Peoples Republic of California, if you buy bullion or coins, you pay sales tax on it unless you have a resale license. You don't recover that on the sale, so make sure you either get a seller's permit, or buy it in a way that you don't have to pay sales tax.
If you're going to buy gold, for a long time, the best deal around was in the Austrian and Hungarian 100 Koruna (sp?) coins. Kruggerands are the next up. They had the lowest premium over the bare metal value, so you got more ounces of gold for X dollars. Stuff like the modern US Eagle and the Canadian Maple Leaf shore is purty, but they're **** for investment purposes because there's an arbitrary premium.
If you want to invest on the coin side of things, buy some PCGA MS63 or higher US $10 eagle or $20 double eagle coins. If you want to invest on the bullion side, get yourself whatever carries the lowest premium over the bare metal value.
Platinum is more volatile in price, as it's an industrial and jewelry metal more than it's a monetary hedge. Gold is more of a mix of the three, so gold prices are a quite a bit less volatile on industrial demand, and more volatile on perceived inflationary and currency risks.
There are a fairly large number of reputable dealers out there - just look in the yellow pages, and a lot of them have call numbers where you can check the current market prices. Since all these coins are all the same within a given type - just a lump of metal with fixed weight, go for the lowest price, and a dealer with the lowest spread. 8-10 dollars between buy and sell prices for one ounce coins is pretty good. Don't get hosed on half ounce or less coins - the premium over metal value is way high, and so is the dealer spread. Just stick with standard one ounce coins or ingots.
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Lancer
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Oregon Coast, USA! or Bohol, Philippines!
Apr 1999
time: 05:28
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Mike, what's the best place to buy gold such as the Hungarian Koruna you mentioned? Is there a mail order place or a website or what? Zero experience in this, but I've been thinking a couple of thousand in case everything goes to hell wouldn't hurt too much.
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Mao
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Apolyton
Jun 1999
time: 00:28
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Yeah...I was thinking bonds might be good too...but gold is...well...shiny!!!
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Ecthy
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Zhonghuà Rénmín Gònghéguó
Mar 2000
time: 06:28
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Buying dollars with euros? why not now?
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Mao
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Apolyton
Jun 1999
time: 00:28
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I already have 120 pounds...don't really want any more...
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Mao
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Apolyton
Jun 1999
time: 00:28
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Hmmm...so bonds are the way to go then?
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Cruddy
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Bonds are a guaranteed return (well, as guaranteed as possible). But you have to wait for that return.
Gold, while slightly lmore risky, can be cashed in anytime. It's better if you are using the cash as an emergency fund.
But check what the price is when you buy - always best to buy when prices are low (get a comparative 5 year index from a reputable publication - Financial Times have a reasonable website).
As for merchants, check your local telephone directory. See if there's any consumer reports out there.
If I was looking for investment advice, Apolyton's the LAST place I would rely on!
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Cruddy
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quote:
Originally posted by MRT144
bonds? the only way id buy precious metals is in jewlery form, like getting a fat platinum chain. |
Jewellry is almost always overpriced compared to bullion or coins. You are paying for the craftsman to make it, as well as the price of the materials.
I say ALMOST always because even in this area there are bargains - but there are also many pitfalls too.
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Cruddy
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quote:
Originally posted by Urban Ranger
We are better than mutual fund managers |
Since when did mutual fund managers hand out advice? It's counterproductive from their point of view.
Or is that what you are saying anyway? What is Apolyton better at than mutual fund managers?
Managing mutual funds or handing out advice (or both)?
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Cruddy
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quote:
Originally posted by Urban Ranger
They do the buying and selling of stocks and other securities for their clients, and most of these transactions require approval. So they are just advising their clients in a fundamental way. |
Oh right. My understanding is the UK fund managers are the ones asking the advice - and woebetide anyone that makes public the advice given (breach of confidentiality, you see). Mind you, fund managers are at the tip of huge investment pyramids, which is light years away from investing a few thousand.
Anyway, UK fund managers are very tightlipped about where they put "their" money. Too easy to get sandbagged (ambushed) by speculators.
If this turns out to be complete poop, pardon my ignorance - economics was never a strong subject for me.
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Japher
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Ook! Ook! Ack! Ack! Ack!
Jun 2002
time: 05:28
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Don't listen to me, ppl think I take to much risk on investing...
Bonds, suk right now, their interest rates are way to low, you would probably have a better chance getting something out of CDs.
If you want to "hide" the money, don't buy stocks that have a yield or pay a dividen, because you will have to realize gains every year.
Gold is probably the most secure precious metal as it mimics (IMO really sets) inflation, pretty much that's all it does. So, for every $1 you invest now it will be worth the equvalent of $1 when you pull it out, no more, no less... Unless something really drastic happens the the economies (i.e. depression).
Hedge funds (investing on foreign currency) is way too risky for me to have even delved into... Yet
Another way to invest in foreign currencies, which isn't too risky, and can be beneficial is to invest in foreign life insurance policis. In fact, I think that is how you should go... Either foreign or domestic. Invest in a life insurance policy, either Variable Life Insurance or Cash Value Life Insurance... Talk to a insurance agent and try and get a policy with low (or one time) primiums. The nice thing about life insurance is that you can use the money to cover you, dependents, future dependents, etc... the money is sheltered, and can be used to invest in the markets as well... Also, you can eventually "borrow" the money any time you want, with a very low interest rate(like 1 or 2 percent). Personally, that is what I would do in this day in age to get the max returns on non-realizable equity...
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MRT144
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Seattle Washington
Oct 2002
time: 21:28
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quote:
Originally posted by Cruddy
Jewellry is almost always overpriced compared to bullion or coins. You are paying for the craftsman to make it, as well as the price of the materials.
I say ALMOST always because even in this area there are bargains - but there are also many pitfalls too. |
can you wear coins?
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Mao
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Apolyton
Jun 1999
time: 00:28
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quote:
Gold is probably the most secure precious metal as it mimics (IMO really sets) inflation, pretty much that's all it does. So, for every $1 you invest now it will be worth the equvalent of $1 when you pull it out, no more, no less... Unless something really drastic happens the the economies (i.e. depression). |
This actually sounds like what I want. Something that'll keep its purchasing power, I'm not really looking to make a buck. Although investing in the stock market seems interesting, I don't have enough money to make it too worthwhile, maybe about $500 to spare?
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panag
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MY WORDS ARE BACKED WITH BIO-CHEMICAL WEAPONS
Oct 2000
time: 07:28
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quote:
Originally posted by Mao
This actually sounds like what I want. Something that'll keep its purchasing power, I'm not really looking to make a buck. Although investing in the stock market seems interesting, I don't have enough money to make it too worthwhile, maybe about $500 to spare? |
hi ,
well stay for that amount of the stockmarket , its not worth it , you shall get extra cost , lets say you need the money in 6 months , taxes , etc , ......
you are far better of with buying a 500 usd diamont then 
or just put it on a regular savings account
have a nice day
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MRT144
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Seattle Washington
Oct 2002
time: 21:28
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or give the money to me so i can buy a computer and software synths
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Ecthy
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Zhonghuà Rénmín Gònghéguó
Mar 2000
time: 06:28
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of course the diversity of currencies and therefore that of coins in europe is decreasing with every year passing...
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All times are GMT. The time now is 05:28.
Apolyton Time is 00:28. |
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08-06-2003 11:15
No, no, no. Swiss banks are the answer. They can buy the gold coins for you and store them in their vaults...all with the famed Swiss policy of privacy from prying government eyes. 
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