Regular Small Payments into Gold / Sliver options

Hi,

I am a newbie to your site, so please forgive me if I am asking questions which have already been covered.
The info from this community is awesome and thanks for sharing.
I have a quick question to ask about regular payments into gold / silver .. which I seem to be drawing a blank wall.
I would like to put $50 a fortnight into gold and silver, but I can't seem to see a way of doing this.
Just for a laugh, I setup spreadsheets on the gold price when my daughter was born (Gold had just stabilised @ $1000 - till November last year ) - and then in Fortnightly intervals 'brought' gold @ that price.
To keep a long story short, after spending a little over $1000 - the return would've been close to $3000 in weight of gold all up.
How can I do this in 'Real Life' ...
I'd be keen on setting up a website that takes care of the transactions, as I suspect their would be a number of people like me wishing to get on abroad with Precious Metals investment, but don't know how.
Here in New Zealand we have KiwiSaver which is basically fund management for your retirement.
If a real life situation was to be built ( which I'd love to partner up with someone and do ) I'd imagine that it would be similar to a Managed Fund, except of being at the mercy of the various share prices / bond markets etc that the fund is invested in, the 'gold / silver' price is the Comex price at the end of the day.

What do you guys think .. would this work, or is their a better way for a newbie to get started with small regular gold/silver 'stacking'


Cheers,
Danny

 

Buy one silver coin a fortnight. It soon adds up.

 

I've just checked NZ mint ... but the difference they charge between buy and sell is 23% !! fair enough people have to make money .. but if I buy a coin from these guys and then sell it .. I'll need the silver price to increase by more than 23% before it'll be worth it.

Am i missing something here ?? ( again sorry for sounding like a newbie )

Cheers,

Danny

 

You can sell on trademe (or eBay) instead of back to the mint.

 

There are also various places that have allocated accounts eg. Perth Mint, Goldstackers etc.
I think even the ABC in Sydney have such an account but i may be wrong.
Look at those options to see if they suit your needs.

 

Also can consider Gold Stackers
http://www.goldstackers.com.au/store/unallocated.html

 

Unfortunately he's from NZ so the FX fees will be a killer for small sums like $50.

You would be better off accumulating tinier physical pieces of metal and when you do decide to sell them, you can offload on eBay/trademe/gumtree or whatever.

 

or in buying you could set up your own Pawn business. i know having a business is a hassle. but its a option.
then you could buy lots of small amounts and maybe under spot.. just say.. "i buy at melt value not spot"

 

You could find a business in NZ that offers allocated storage, or perhaps unallocated storage.

If there's nothing like that in NZ, then you can start the market over there
The technical side is easy.... it's all the financial regulations that make it difficult/expensive :/

e.g. You'd need to acquire a license to offer financial products/services.

 

I would have thought this was exactly what he was after.....

 

Thanks Guys for all your help.
The unallocated vault @ Gold stackers looks great.
As Fishball has mentioned, the exchange rates might not be great, however it is the only option that seems to be available.

- I'm not keen on the pawn broking idea -- Thanks anyway LTEK4NZ
- As jnkmbx has said -- setting a service like this up in NZ will be Very expensive. (NZ Mint are you going to operate something like this soon ??) is anyone on the forums in NZ keen on starting this service ??

I'll weigh up the Gold Stacker unallocated vaults, with the regular small coin at a time purchase ... and offload at a later date if necessary.

Thanks again for all your assistance,


Danny