Ah, yes, very true. I actually did not notice op's location when answering. Eagles and Maples would be at a reasonable price in the US as opposed to down under. Nothing wrong with Eagles but IMO the premium here down under does not reflect the product. Maples put me off because of the milk spots but are attractive coins all the same. I guess that PM products in the US have the same issue with higher premiums than we pay here due to transport costs.
Silver bullitt---You hit the nail on the head about shipping costs. I'm in the NE US and I've run down every possible lead that might help me get around that problem---with ZERO luck. Oz-to-US shipping costs are murderous. Period. I was hoping to find a loophole so I could buy some of those Perth "cast" silver bars, but the result of all my searching was zip. A few of those bars were sold on Ebay---for $50 to $100 over any semblance of a sane price. Even Perth's US dealers don't carry them--they only carry the coins. So... I stick with my Engelhards, which is probably just as well over here...
Right, dealers don't give much for ASE's when you sell back. I'm surprised they even give $1 over spot....better than I assumed. .
There must be an option for you though, perhaps organize a group buy and share the shipping cost. We get a lot of US bullion products here in Aus and most times the price is well within reason, this includes bars. There is obviously a lot of shenanigans going on in the PM game but there is always a way to circumvent the system and find a DIY solution. Perhaps even a contact here in Aus to purchase on your behalf and ship to you. I used to ship quite a lot of things from the US, when the Aus dollar was above parity, and used several methods such as these to get reasonable shipping rates. It stands to reason that it should also work in the reverse direction across the pond. Of course, if all else fails there is nothing wrong with buying the local, home grown, products but I do like an international flavor in my stack also. As a matter of curiosity I will find out what it would actually cost me to send a small amount of cast bars to the US and I will get back to you about this. Find out for sure if it is or is not gouging by some dealers etc on shipping costs.
Thanks for your replys and welcomes. It seems I have some people saying buy ase, and some say buy big blobs and junk. Even semi num has been suggested. Then there are a group of you saying to diversify. I understand that widom now. I got interested in pm after watching the show gold rush on netflix. It interestingly led me to silver and I grabbed 20oz of generic buffolos from jmbullion when spot was 22.31. I do hope to own some gold in future, one once at a time. Not crazy about fractionals due to high premiums. Plus I want to play with a big coin and not a little one =]
You won't go wrong with the Buffaloes at that price, just hold em for a while and your chickens will come home to roost. I guess the answer in a nut shell is just stack what you can comfortably afford to hold on to. You never want to be in a position where you are forced to sell at a loss and this is the biggest issue as to whether your plan is a success or a disaster. Just stack what appeals to you and in your budget and you will find when you decide to take your profits that there are many other people out there that will share your tastes in PM's and be happy to buy from you.
Keep an eye out for specials on the online vendor websites---Provident, APMEX, NW Territory, Scottsdale, SilverTowne, Monarch. SilverTowne periodically offers free shipping and Provident periodically offers free shipping "...if you buy a ________." Free shipping is worth paying attention to. Put yourself on the vendor email lists and you'll get heads-up email notifications of all the specials. Goldmart has the rep for the lowest prices, but their delivery delays are the worst out of all the US vendors. On Gainesville Coins, google up reviews of GVC as well as their former name---National Gold Exchange in Tampa FL. Do your homework, make an informed decision and exercise due diligence. That should get you started toward PM bargain-hunting.
From what I see freight/post from OZ to the US is a pain and very expensive. US to OZ is fine. How easy or difficult is it to personally carry bullion and coins from OZ to USA? Anyone done it - in reasonable quantity? Say $100 k or more? I wouldn't do Ag but you can carry a fair amount of gold in cabin baggage. What happens with fees/taxes etc. and how do the IMO obnoxious immigration people treat it? I found US customs courteous, but the immigration people should be exported to another planet. Tia Gazza
It's a good question but I certainly wouldn't want to risk taking that much value across international borders like that. Too risky in my view. Or if you do, hire at least 1 person to travel with you as a witness if for no other reason. .
Gazza---I know from experience* that when a NY resident arrives on an international flight at JFK or LaGuardia carrying anything purchased abroad (that's not from a duty-free shop or under the "allowable" limits), you'll get hit with a NYS "use tax" (sales tax on stuff bought out-of-state) bill. US Customs, IRS and NYS Tax+Finance all get together, have a big info-sharing party, take names+numbers and kick ass. I'd suggest being VERY careful about bringing PMs into the US that way until you really know the regs on what you're doing inside out. Even if you're not a NY resident---US Customs and the IRS love to collect money or at least hand out bills. * Some very "up close and personal" experience...
Dead right. I inquired at the Post office earlier today and postage to the US is EXPENSIVE, to say the least, especially for valuable items requiring insurance. Says it all I'm afraid. Stick to the local products in the US. Now I understand why Australian junk coins are so highly priced in the States. I can import from Europe and the States at a fraction of the cost of sending items back. :| Carrying 100 K + over an international border? I think I would definitely pass on that too. Could end up taking a long holiday in Cuba these days with all the paranoia propaganda.
Yeah it hurts all small exports. Ive got people in the states wanting to buy my chilli sauces and however whenever I tell them the postage costs are more then the bottle of sauce it kills any sales. If I did a good volume I could get a discount at http://www.skippypost.com.au/ and save some money making it viable to send stuff
Must be really frustrating for you. I had no idea, until today, about the discrepancy in postal charges across the pond. With the Aussie dollar finally falling it should be good news for small Aussie entrepreneurs, manufacturers and retailers but then there is another of the endless barriers. What can I say? This sucks. :/
I've become somewhat affectionate for PM 10ozers, and set a target to acquire. I've nearly reached that, and when I do, i'll probably split my purchase 70/30 with PM 10oz and GoldStackers low premium 10oz (maybe some 1oz from time to time). I generally like my stack to be mostly one form, but I'll deal with scruffy no name bars to save $2 an ounce.
I guess at times when premiums are immense, it is better to focus on the cheapest investment coins: Austrian Philharmonics, Maples,... Suriname 10 dollars, perhaps Libertads...
I am curious to know what your and anyone else's opinion on NTR 10oz bars vs say the Gold Stackers low premium ones or Perth Mint casted bars..? The NTR are almost the same price (as the low premium ones) if you buy a quantity of 10 or more.
I like Perth Mint bars because personal experience has taught me they're really quite easy (in Australia) to offload. They also only come attached with a mid premium (not as high as PAMP, not as low as Scottsdale), which I'm happy with. Perth Mint is also a great name in Australia, so the newer stackers entering the market (who I guess I'll sell do if silver goes to da moon) trust the name. If I was buying 10 non PM at a time, I'd find the lowest premium bars; if the price was similar to that of Gold Stackers low premium option, I'd buy them. That way you know what you're getting, and in what (great) condition. That said, if you buy 10 at a time, you usually get a discount on the bar of your choosing. Personally, I like the look of a cast bar a lot more than a minted bar.
I guess beauty is in the eye of the beholder. I have some PM cast bars but only stack them as a bulk item and buy in larger quantities. My personal preference is a nice shiny round and I love junk silver. My biggest problem with junk is resisting the urge to clean them if they are of the more exotic or rare variety. Love my shiny silver. Gold coins are great for this, I have some ancient gold coins that are as clean and shiny as they were over a thousand years ago. Gold is just amazing in that respect.
Silver is my favorite investment alternative . I definitely go with the premium silver most of the time.
