Question 1: How does it exactly work? I mean it is one thing to purchase something on eBay and it's another thing to purchase something worth thousands. What if I am not home when the mail man come's along? What if he decides to not even knock on the door and leave it in the mail box.. these types of thing's worry me. If it was something from eBay.. maybe a shirt or something, I wouldn't really care if it got lost but this is worth a few week's of my pay so I care big time. Question 2: Good idea to hide your silver underground? Old fashion way, bury it? Question 3: does your local bank provide such protection for your good's? Question 4: I go for quantity not quality so where could I buy silver or even gold in Sydney? Does no one sell gold/silver depending on the value anymore? I always keep hearing these premiums and such.. The price should be based on what it's worth not so they can make extra buck on it. Thank you for your time, sir. I am 18, so still a baby compare to you gent's so be nice please =)
I am still new here and am rather young too. My best guess at answers: 1. I generally do not buy anything of massive value online. I try to F2F when possible or generally just buy off my local dealer 2. I guess it could work, I personally don't do it... I have a safety deposit box located at a bank where I store my more valuable items. Might keep a cool coin or two at home to play around with but most of it is tucked away. 3. Banks generally rent out a smallish safety deposit box and it is definitely worthwhile to get one if you would like the added security. 4. Well, the "spot" price is generally a price for wholesale markets. It would be very hard to find gold/silver at the spot price if you want a shiny coin or bar. Generally you have to pay a price for the refining + dealing that results in the production of a coin or bar from the wholesale price. In saying that, plenty of silver can be picked up at spot price (predecimal coins, some junk silver, 925 sterling sometimes)
Q1: if you purchase high end items make sure you have them sent so you have to sign for them, Registered Post, Express Post or Platinum Post, that way the postie can't leave them in the mail box. Q2: If you want to invest in precious metal a decent size safe would be handy.. Q3: Yes banks have safety deposit boxes. Q4: If you didn't have premiums on it then businesses would not make a profit in which case they would seize to exist. If i buy gold at spot price would you expect me to sell it at spot? of course not, so then for me to make a profit i would have to sell it at a premium. Hope some of that helps.
1.always pay with paypal so ur protected.never ever with bank transfer. 2.if that is what floats yr boat,bury it there are vaults(google guardian vaults for example),where yr stuff can be stored for a fee. 3.I think explained above 4.unfortunately,u have to live with the premium,unless u find a good deal for spot,but even spot is irrelevant these days btw,what do u think what silver and gold worth? we all on the forum had been trying to figure that out
In addition to House's comment about renting a PO Box... If you get $1000 worth of precious metals delivered to your house the sender knows a few things. You have a bit of money You have a stash of silver Your address If you wouldn't tell a stranger that information you probably wouldn't want the seller knowing it either.
Regarding Gold, I have no idea but I was curious to see what would happen if gold started to be "consumed" because your gold watch could have a bit of gold that the ancient Romans mined thousands of year's ago or that gold bar you bought could of a peice where it was mined from Africa over a thousand year's ago.. What I am saying is, we are at a time where we do not recycle much gold and that is due to technology. gold is needed in every single product, it could be phones, computers, dvd's etc etc so we are now consuming this gold, forever to be lost, sure it can be recycled but the amount of acid and other stuff needed to extract the gold pin's would not be worth it. I have seen figure's such as 150-180k tonnes of gold left under ground ready to be mined. Consuming gold is a new era and who know's how fast gold will run out, the lower the number's of gold the better for the investor's I suppose
There is a thriving local industry in scrapping IT equipment for the gold. You can buy the obsolete computer boards in bulk if you fancy having a go yourself. It isn't safe to do it yourself unless you have fume hoods etc. but a lot of people collect the bits and sell them on, especially the procesor chips.
Ishallperish welcome - try reading a lot of the posts on this site. Start with the stickies and the faqs posted, inc the ones in House's sig. Then read some more Then search for the topics you are asking about Then read some more Then come back with cogent questions. You'll find we are more than happy to help each other out, but there is an element of you helping yourself and educating yourself as well.
Haha Thanks mate =) I am known to be the wiser and older person among my peer's. I have about 10k to play with and I am very confident in the long term (20-30 years) gold will rise to new heights and when that happen's I will surely be joining my retirement.
Hi Ishall... good to see your starting young. A few things you should get clear before you spend a cent. Make sure you understand what your investing in. PMs come in many different forms for which this site will serve you well in understanding. Being younger with so much still ahead may mean that one form of investment is wiser than another. I think your long term view is wise, however, be realistic with yourself and make sure you don't end up in a position of a forced sale before you're ready. Some metal products are much easier to shift quickly if required and may mitigate some of the risk for a young player. Don't touch Numismatic coins, Semi-Numis or otherwise until you understand them. They can serve you well or bring you to your knees. It sounds like you are going to stick to the basics first up which is what I would recommend. Based on your statement in question 4 regarding premiums and value, this is something you need to become more versed on before you buy anything, the forum is full of info on this. At the end of the day, at some point your just going to have to jump off the bridge and build your wings on the way down...Much to learn you have! Words of warning; - Burying is for dogs, find a better way. - Dont borrow to buy PM's. - Dont be forced to sell (unless common-sense dictates otherwise). - Store safe. - Loose lips sinks ships. - It's addictive Good luck! Ciao Audeamus
