Why anyone say to buy PHYSICAL bullion and don't trust anything online?

D

Domenico

New Member
Ok, I agree with that. But I can't clearly see the reason.

I prefer to own personally instead of relying on third parties.

Anyway, as I'm going to move country soon, and physical bullion has a high premium, I was thinking to buy and store digital silver.

I found the website onegold.com that seem to be trustable and premium are cheaper than the physical bullion.
They say that your bullion is safely stored in their vaults.

What do you guys think, and what are the main reasons why is better physical than digital?
 
Why don't you just buy butcoin if you have money to throw... physical bullions are for currency devaluation safety net..there are heaps of BS websites offering this and that... but when it comes down to physical transactions, will you be seeing actual bars being delivered to your doorstep? maybe I'm old fashion guy, but I prefer to pay and receive the goods the and then...

PS - have you heard of companies defaulted and deliver your bars when you want them? You (& many others) will need to queue inline after liquidators have taken their portion of what their entitlements before the rest of the clients being owed to...
 
Domenico said:
What do you guys think, and what are the main reasons why is better physical than digital?
Click to expand...

It's purely a matter of timing and convenience. When things are stable and when it's not practical to take metal across borders them digital gold will probably be best.

When things turn unstable and markets become untrustworthy perhaps physical is preferable.
 
Domenico said:
I think I'm gonna go with onegold.com.
Click to expand...

ONEGOLD.COM Website said:
Due to unprecedented demand and higher costs, buy premiums on silver are now 2% and gold 1% over spot, temporarily.
Click to expand...

Expensive when you can get unallocated from a number of Australian providers, private or Govt. for much less, with no temporary premium.

This sounds like am "Ad" to me, because if the OP had done any research, he would know this.

Ck.
 
bubblebobble2 said:
Why don't you just buy butcoin if you have money to throw... physical bullions are for currency devaluation safety net..there are heaps of BS websites offering this and that... but when it comes down to physical transactions, will you be seeing actual bars being delivered to your doorstep? maybe I'm old fashion guy, but I prefer to pay and receive the goods the and then...

PS - have you heard of companies defaulted and deliver your bars when you want them? You (& many others) will need to queue inline after liquidators have taken their portion of what their entitlements before the rest of the clients being owed to...
Click to expand...
Not related to post...
I've got the privilege to give you 1000th like-congratulation for your posts...:)
 
Several online dealers/storage facilities have gone bankrupt over the past few years and people got back approximately 2% of what they had stored with them. Just as long as the company you use to store your gold/account does not go bankrupt you should be fine.
 
By the time you are stacking pile of these metals that has a principal value $$$,$$$, you are certain of something.
You are not going only for a joy ride. For sure, as metal stacker, there is something in common denominator.

"If you don't hold it...You don't own it",
Just make sure, you know the consequences of holding it.
Locations hidden, diversified and protected like a deep web.

For liquidation, when doing it right, quick & simple, with a snap of a finger.... for the purpose of transferring from one country to another.

I can not see the reason of putting all the money in PM
You will never get rich even in physical/digital form.
Generator must exist, Something must be working for you.

If you still in doubt? you are in the wrong universe.
Digital trading is not on metals, too slow.....
 
If you can not clearly see the reason to hold it, you just don't get it.

You might as well transfer me some $$ and ill allocate you some numbers on my spread sheet, and later you can call my freshly disconnected mobile number.

O wait that sounds like a con/scam well allocated is a con/scam, its just polished, with flash websites, and hotlines, all on the promise of nothing you will receive some gold when you call it up.
It might work sometimes, IE you get your delivery but if the stars don't align, you'll get a big fat 'sorry mate'

There are plenty of examples, from entire country's requesting physically delivery of what they had on paper and being stuffed around for years to get delivery, sometime flat out not receiving it.
All the way down to small bullion dealers who have gone bust.

In the end its your money, good luck either way.

Timmy
 
Many institution in this world that was backed by the government so easily fail. Even government itself fails.
Counting from history of many empires up to the present time.
Do we ever learn? Do we expect something different in result?

In such strategy you must be FREE what to do entailing NO commitment to any existing organization.
Do not add another circus of human insanity.
Just store your metals or do something else.
 
I have about 10% of my Silver position in allocated. I never considered allocated until the dip in silver price a few months back when Physical started to go on backorder. I'll probably convert it to physical one day in the future, but for now, I'll just sit on it until the price increases or the premium drops.

If I didn't already have physical in my possession, there is no way I would've considered allocated. It does make a lot of sense from a liquidity stand point in the short term, but nothing beats holding the physical metal in the long term IMO.
A government guarantee means jack to me. You might get your $$ back, but there's no guarantee WHEN that may be, or what the purchasing power of said $$ will be at that time.
 
Strange thought is it possible to change unallocated to allocated and pay the storage but leave the item, with the supplier eg. Perth Mint.. then potentially not seeing the item you own before selling?
 
You must log in or register to reply here.
Back
Top