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Physical gold and silver
I'm interested in purchasing physical gold and silver but I'm trying to figure out how to buy it close to the spot price? Anyone have experience with this?
It's going to be difficult to buy at spot price as a private individual. You can purchase from reputable dealers at less than a dollar over spot price if you live in the US. Here is an example of an online dealer that is quite reputable and one I have purchased from.
Note that 10oz bars are only about 70 cents/oz over spot. Personally I recommend "Constitutional Silver" or 90% silver coins for the US buyers as they don't carry a huge premium, they are recognizable, limited quantity, and due to the wear of circulation, are very hard to fake.
Based on the Silver/Gold ratio being quite high, I suggest Silver as a better buy for the near term future.
I just bought gold seemingly below spot price on Ebay a few days ago but being in Canada I'm mostly limited to Canadian dealers but good news they do seem to ship to USA free too. I bought a royal Canadian mint product so very reputable. I'll look into buying silver next time.
Not sure about silver, but try looking into Kruger rands. They 1oz gold coins you can pick up at current gold values. Not sure about your country but easy to buy and sell in most places. And price is fixed at current gold price.
Just be careful with the Madiba coins. Some people try sell for higher price because it has Mandela's face on it, but they still just worth 1oz gold.
I used to be married, but I'm better now
I'm investing in ammunition.
Do NOT chase tail. Turn yours around and live FREE!
Gold and silver are historically pricy at this time. They were much cheaper after the POTUS was elected. Traditionally, they are "fear-based" investments that investors rush to when they read panicky headlines. Historically, gold and silver become quite valuable when fiat currencies hyper-inflate due to excessive national debt caused by taxes that are too low and too much government spending. Such a deficit is typically financed by borrowing until a government can't borrow any more $$$. Then it just 'prints' lots and lots of money. Hence - Hyperinflation. Deficit solution - Raise taxes and cut spending to balance a government budget. Tax cuts for wealthy individuals can stimulate an economy over the short term, but tax cuts that increase a deficit can lead to serious long term economic problems. Keep the gold locked up in a safe deposit box in a bank.
I dont have much but I dont trust leaving it at home.