Melbourne purchasing - and a few questions!

w Davis got cleaned out this morning of all his silver bars
one buyer

 

Really? Bugger! Just was picking out some items online - F$%k

 

That's not how he works,you ring him up & ask what he has in stock
AND he doesn't post anything

 

Hi all, well. I made my first purchase, I got 2 kg of Morris & Watson (from a registered Bullion dealer - apologies for my lack of knowledge - what exactly does that even mean?) , and I paid (gulp, have I paid too much??? but it was my first every purchase I and totally stuffed up, got nervous, agreed to a price etc... ) $1100 per kg into my hands.

I will not say where I got it from yet, as I would really appreciate any feed back etc regarding what I have bought, is it worth a lot less than perhaps Perth Mint 1 kg Silver bar?
After much soul searching and looking at the Perth Mint website for starters, I could have bought online, for approx $990 plus $17.50 for delivery + $9 for insurance totaling $1016.50.
So I basically wasted at minimum $83 per kg?

Do those numbers stack up guys? Or is there more involved? Also, if I did purchase from Perth Mint - what happens if I am not at home for the delivery? Can it be sent to a place of work? etc... ( I would prefer to buy with cash (- like in Melbourne, but its 1 1/2 hours from where I live, so only be able to get to Melb on weekends... (not a deal breaker)

I have decided that at least, I now have some silver, but I would like to not make the same 'mistake' again and would really appreciate any idea's advice.

Regards,
frustrated but hopefully learning newbie.

 

Goldstackers are selling kilo dragons for around $1050 plus postage - I'd probably have gone for those.

 

I missed my first delivery from the Perth Mint ..... I should have tracked the order online but didn't. It was sent back to Tullamarine from where I could have picked it up myself. However, that's a bit far so I arranged for a second delivery. This time I tracked the order and took delivery. By the way, that person must be you. First of all, set up an account with the Perth Mint, arrange a visit to the post office (for ID purposes) and go from there.

Best of luck.

 

Speculator101,

Look up Bullionaire.com.au in Melbourne.
I have bought Gold and Silver from him without any problems.
He (Adrian) delivers for free in Melbourne and his prices are very good.

 

Thank you very much guys, I really appreciate any idea's/advice.

Slightly off topic, after looking at many many websites, in particular at silver coins, I have become a little confused - as I would like to end up having a mix of all the main types of bullion.
On the 'goldstackers' website, it says a Perth Mint 2012 Year of the Dragon 1kg Silver will cost $1055. ( I know this is a terribly stupid question, but is that an actual 1kg coin? or 1kg worth of coins..?)

As that is obviously cheaper than buying 32 1oz kookaburra coins for example.

Sigh, I am feeling very very new to this... although I have been investing in Gold and silver stocks for 5 years... first real entry into actual Bullion.. sigh.. I thought it would be so simple ahha... but.. I realize... that its no easier than stocks...

I say this, because obviously, there are premiums and discounts for everything... I now have to try and work out why and what.
i.e. is there any difference between:
1oz Philharmonic
Perth Mint 2012 Koala 1oz Silver
1oz Canadian Maple
There are small differences in price, upto %8.. which is worth taking note of...

I mean, to my simple brain, they all have the same amount of silver...?????
What am I missing..

Looking forward to some serious enlightenment ha.
regards all.

 

My advice is brief:

1: Stay the hell away from Ebay.

2: As you would like a "mix of all the main types of bullion", when it comes to obtaining a Panda or two, then (imo) I'd recommend you deal with either Yennus or Maggie. I've not brought anything from anyone here, but I believe that both of these people are trustworthy. Unfortunately with Panda's there are quite a few frauds, so you need to be sure you're getting the real deal.

The other guys will surely answer all your questions.

 

Ok, so this I what I have written up as a plan so far (with loose reasoning as to why-still educating myself), very gratefully to any posters who could assist me in refining it.
I am a value investor, and for now am looking at quality and quantity, perhaps in the future I will slowly warm to how nice everything looks. I'm a fundamentals man I guess.

The basics of my plan so far:

Overall -
%20 Gold Bullion
%60 Silver Bullion
%20 Silver coins

Silver COINs

Buffalo's - is basically just generic silver coins. Leave alone for now.
Kooks, Lunar's and (less popular, but makes no difference to me koolas) actual Australian tender - so very safe %70
American Eagles %15
Canadian Maples %15 (slightly better than most due to .999 purity)

Silver BULLION

Silver Bars. Most silver for your money. 10oz, 1kg.

Gold BULLION
1oz bars

I am initially looking to stack about 600oz Silver and a around 4oz of Gold.

Regards to all.

 

You've got a lot of money... so here is what I would do:
1: Open a PMDS account at the Perth Mint, and buy MOST of my silver here as "Pool Allocated". Amongst other things, this gives you the ability to easily buy silver at rock bottom prices. One of the complaints on this forum is that when gold/silver prices crash, you cannot find anyone (including large bullion dealers) who will sell to you at these prices; they shut up shop. However, with a PMDS, you just need to make a phone call to take advantage of bargain basement prices.
2: Forget the eagles & maples & esp. the JUNK silver. Stick with Perth Mint product only. You can vary later...
3: Buy some Silver Lunars to keep at home. Good potential for numismatic value. Buy only by the roll (of 20), not singularly.
4: Buy 4 x one ounce gold COINS. Stay away from fractionals, unless you don't mind getting the least amount of money for your gold.
5: Have a minimum of $5000 cash (set aside) ready to be sent to Perth Mint in an emergency; ie: an unexpected silver price crash.

Continue with your education. Really, you don't want to be asking other people what you should buy, as you should know enough and hence feel sufficiently confident to make your own decent choices. Two exceptions to this rule: (1) Numismatics, (2) Pandas.

Realize that silver is really only a small part of the larger story of resource scarcity, so read this:
http://www.m2i.nl/images/stories/m2i material_scarcity report.pdf

 

Thank you very much for the reply Black_Sun.
The document you posted was extremely interesting to say the least. I have in fact been investigating the kind of scenario's that were discussed, and have been investing small amounts of money 1-2k into companies that have metal resources in some of the rare earth metals. Most of the stocks are extremely risky and as such I am purchasing them as a hedge against what is coming in the next 2 decades.. and will only ever make up %10 of my net worth. Really made me feel more secure in my understanding of why I am investing in Silver too.

I apologize if I sounded frivolous regarding the amount of Silver I hope to stack. I am a man that is on an average wage that lives within my means, I save hard, and spend little.

Really appreciate the advice regarding the Perth Mint, I was initially going to simplly purchase from 2-3 places online that everyone on this forum recommends.
However, The Perth Mint in the short term (12months) would be a better way for me to make quick purchases without worrying about continuous deliveries etc and also allow me to purchase quickly.

To other posters - I would still really appreciate others inputs, as I am always looking for more sound logical advice.
Regards,