thinking about getting gold

S

schmidtyss

New Member
ive been collecting silver for the past few months and i got about 300 ish dollars worth of silver ...i know my local coin shop has some 1gram bars there that i was intrested in but was wondering is 60 bucks per bar is worth it to start for a beginner
 
My personal advice is that if you only have spare change to buy precious metal, avoid small denominations of gold. The premiums are massive and you don't get much to show for it. If you decided to buy gold, buy an ounce at a time --- plain old poured bars (the little square perth mint ones are really nice). I had a few of those at one stage, but offloaded them for more silver.

To give you an idea of what you'd essentially be paying per oz for that 1 gram bar - multiply $60 x 31.1 (grams in an ounce) = $1866/oz. Big premium, right? More bang for your buck buying a one ounce gold bar for about $1450-ish.

I'm way more bullish on silver, but hopefully you will get a Goldie on here giving you advice, as well.

To directly answer the question - $60 is ok for a 1 gram bar as far as one gram gold bars go. :)
 
If I were in your shoes schmidtyss, I'd be sticking to silver at this point to build a larger core holding before moving into gold. - but I'm not in your shoes :)
 
There's not just the question of bang for buck to consider in this situation though.

With 300 in silver only at this stage, it's fair to schmidtyss is on a short stack with limited income.

Whilst my stacking options are a little better, I completely can relate to the fact that dropping $1,400+ on a 1oz bar - whilst best bang for buck on premiums - is simply out of the question.

I'd love to shoot for the stars with a 1kg Gold bar and put the premium question pretty much to rest, but we all have to work within our respective budgets and whilst we might have to cop a little in the premium department buying the smaller denomonations, sometimes there's really no other choice considering our overall stacking budget.

A 1 gram ingot isn't a bad option in itself - afterall, any gold is better than no gold at all. If Gold continues to climb in the face of economic instability and currency debasement, it's fair to say that as the top end of the market extends beyond the reach of the majority of investors, the smaller items like this will shine and fill a niche on affordability.

That said, to realise a profit on 1 gram ingots at this stage, you'll need spot on gold to be pushing 2 grand.

So with that in mind, you would have to assume your gold holdings are for the long term else you'll likely lose money on the trade if you cannot transfer the premium on resale.

But if you're looking to buy a little gold (especially if you have none at all), then an extra $15 on your one gram is hardly going to break the bank and you can enjoy a moment owning the world's oldest real money.

Gold always was and always will be money and nothing else.

Whilst I have a very deep affinity for silver and love to accumulate it, Gold is where my heart lies at the end of the road.

Silver right now is perfect to leverage into Gold through the rapidly dropping GSR so you can stick with the white metal and trade for yellow down the track (which is where my current strategy is) but every hard working individual deserves to have a little yellow in the hand to remind them what real money is and to protect their earnings.

So my advice is sod it, go and buy your gram of gold and bloody enjoy it!
 
the outlook i got on life is....ya only live once... experince what ya can and when ya can ya know? i figure ill buy a gram here and there over the course of my life just to break up the mix a lil bit. hell i might get a bezel and make a lil necklace out of the first gram i have ever owned that and if you think of the hard work it took to get this stuff out of the ground i would gladly pay 50 -60 bucks to get just a tiny peice of it
 
Or a 5g minted bar. Either way, get some gold. Silver is on a burn at the moment, and will remain so until / unless there is an actual economic crash. Gold is on a slow burn, but will do well in an economic crash.

Silver is either a short term or a long term gambit. Good until, and good well after.
 
I like the gold coins, but the perth mint 5g, 10g and 1oz bars are a real winner for me. Individually assayed with tamper proof containers are so totally for the win :)

But the minted coints (in capsules) are fantastic too.

Just be aware that 24k gold is VERY soft, so no matter what form you get it in, it's imperative you keep it well protected.
 
Another thing you may want to consider is old jewelry and even PC Parts. I say this as these can be an entry into the area without much cost. Some of the PC Parts you can find in roadside collects and you can get the parts you want quickly and easily right there and then. Take any power cables as well, just cut the ends, also of old TV's Washing Machines, TV's etc... This over a year may give you some extra items to sell to scrap like the copper from the cables :)

The old jewelry you need to know what you are doing and learn mintmarks but the Internet will give you most answers. By going to Garage Sales getting small bits here and there. I know some of my local Cashies have a 50% of sale and when they have not updated prices you can get pretty good deals. Depending on what you get you can do bulk trades for coins or bars as you get more.

Hope that gives you another thought, just check the details of the council in your area about taking stuff, you want to make sure you are not breaking any laws, then learn on the jewelry and you could be surprised what you find. Just keep an eye out.
 
Auspm said:
I like the gold coins, but the perth mint 5g, 10g and 1oz bars are a real winner for me. Individually assayed with tamper proof containers are so totally for the win :)

But the minted coints (in capsules) are fantastic too.

Just be aware that 24k gold is VERY soft, so no matter what form you get it in, it's imperative you keep it well protected.
Click to expand...
If you want to play with your stash, tamper proof is no fun. :)
 
Ridesags said:
Auspm said:
I like the gold coins, but the perth mint 5g, 10g and 1oz bars are a real winner for me. Individually assayed with tamper proof containers are so totally for the win :)

But the minted coints (in capsules) are fantastic too.

Just be aware that 24k gold is VERY soft, so no matter what form you get it in, it's imperative you keep it well protected.
Click to expand...
If you want to play with your stash, tamper proof is no fun. :)
Click to expand...

I have 1966 50c coins for that. Being 80% silver instead of 999 they are durable, yet easy to clean.

If you want heavier, the 1937 Crown works well too.

The more pure stuff in both silver and gold is prone to scratching and dings and more than one member on SS can attest to the deflation you feel to a gold coin hitting a tile and sporting an unremovable ding for the effort.

If all else fails, just get a 10oz or 20oz silver bullion bar. Traded purely on weight, these feel amazing in the hand and won't have you panicked every time it thumps the table.
 
o wow those are some pretty good ideas gold is a key part in comp boards well if he still has the 2 bars i saw there they are credit sussie bars with lil id numbers on them (no assay card just loose) with i find pretty cool(engelhard collector) i would trade some of my silver toward it but i must say ive grown attached to my lil monarch baby ounce bars and i dont wanna get rid of the engelhards for a looong time
 
I've got a bit of an Engelhard collection myself - about 25oz in 1oz bars with about 5 varieties (saw another variety in Sydney last weekend but didn't get around to asking if it was for sale) plus a serial numbered poured 5oz bar in fantastic condition.

Not a collector - just recognise that they're a bit more desirable than Valentines Day 1987 silver bars.
 
Austacker said:
Another thing you may want to consider is old jewelry and even PC Parts. I say this as these can be an entry into the area without much cost. Some of the PC Parts you can find in roadside collects and you can get the parts you want quickly and easily right there and then. Take any power cables as well, just cut the ends, also of old TV's Washing Machines, TV's etc... This over a year may give you some extra items to sell to scrap like the copper from the cables :)

The old jewelry you need to know what you are doing and learn mintmarks but the Internet will give you most answers. By going to Garage Sales getting small bits here and there. I know some of my local Cashies have a 50% of sale and when they have not updated prices you can get pretty good deals. Depending on what you get you can do bulk trades for coins or bars as you get more.

Hope that gives you another thought, just check the details of the council in your area about taking stuff, you want to make sure you are not breaking any laws, then learn on the jewelry and you could be surprised what you find. Just keep an eye out.
Click to expand...


That is a good point with regards to computer parts... I did some reading around, and scrap computer motherboards have as much as 400g/T of gold... compare that with average gold ore grades of 3g/T. In cpu's there is approx 1/4 oz of gold/kg - just needs to be refined of course. In RAM its about 1/15 oz/kg... Secondary market in computer scrap anyone?
 
f40 said:
goldpelican said:
Another option is to save up ~$150 and get a 1/10oz gold eagle.
Click to expand...

+1, thats a much better option.
Click to expand...

+2


IMHO the OP sounds like they're not in a position to get a full ounce. Although I strongly suggest that 1/10th is the lowest anyone should go
 
Auspm said:
Ridesags said:
Auspm said:
I like the gold coins, but the perth mint 5g, 10g and 1oz bars are a real winner for me. Individually assayed with tamper proof containers are so totally for the win :)

But the minted coints (in capsules) are fantastic too.

Just be aware that 24k gold is VERY soft, so no matter what form you get it in, it's imperative you keep it well protected.
Click to expand...
If you want to play with your stash, tamper proof is no fun. :)
Click to expand...

I have 1966 50c coins for that. Being 80% silver instead of 999 they are durable, yet easy to clean.

If you want heavier, the 1937 Crown works well too.

The more pure stuff in both silver and gold is prone to scratching and dings and more than one member on SS can attest to the deflation you feel to a gold coin hitting a tile and sporting an unremovable ding for the effort.

If all else fails, just get a 10oz or 20oz silver bullion bar. Traded purely on weight, these feel amazing in the hand and won't have you panicked every time it thumps the table.
Click to expand...
Just don't drop the big stuff on the tiles ! :o
 
The most "playable" silver for me is the Maria Theresa Thaler. 83% and about 40mm and thin. About 28 grams its just perfect.

Designed in 1780 and circulated for more than a century; unchanged to this day, it has a charm that modern coins just dont have.

Always have one with me.
 
well a lil update i couldent get the credit suisse bar i wanted but i got a leach and garner 1g gold bar of .9999 fine gold for 52 bucks ...not to bad would you guys say?
 
You must log in or register to reply here.
Back
Top