What size bullion?

GP,


"The point is however, the government insisted on BUYING it from you, and it was NOT banned outright, just restrictions on ownership."


The US Constitution contains a very similar clause to ours, in fact we copied it. It mandates that the US government CAN confiscate private property, with "Fair Compensation" I think are the words, ours says "on just terms".


OC
 
My strategy (for what its worth), is 1oz gold bars(carded with certificates only, either pamp or PM) and 1kg silver bars (again Pamp or PM) for my long term storage. 10oz bars and 1oz coins are for my stack at home to trade with, play with etc. Also easy to shift for quick cash.
 
GP,

I haven't.

Australian films are CRAP! The last one to make a profit (after allowing for taxpayers money) I believe was 'Sunday Bloody Sunday'.

...and the last time laughed at an Australian comedian was about 1948! Roy Rene, I think it was!

OC
 
Peter said:
I'd get nothing over 10oz in bars and fractional gold(less than a oz).
I keep away from numi and go for metal nearest to spot.
1oz silver (buffalos)

Gold ..sovereigns,$200,$100.
Near spot ,recognisable and tradable.

Balance percentage premium against amount of metal.
As the price of metal goes up generally you lose a percentage of the premium you paid.
There are plenty of coins out there 20 years old in perfect condition going for near spot.
Though I'm sure expert collectors can often make money.
As you can see ,I'm not a coin collecter.

Only a couple of years ago 1kg silver was the go.($650)
Now they are less sort after compared to 10 oz bars ($400).
People pay extra for tradability.
Maybe 5 oz is a good buy,even with percentage.
Cheap one oz coins or bars, would be best in silver.

In short,the smaller the better if low premium.
Metal is metal.
Anything else is tricky. :)
Click to expand...

'Excellent advice Peter'

REDBACK
 
Redback said:
Peter said:
I'd get nothing over 10oz in bars and fractional gold(less than a oz).
I keep away from numi and go for metal nearest to spot.
1oz silver (buffalos)

Gold ..sovereigns,$200,$100.
Near spot ,recognisable and tradable.

Balance percentage premium against amount of metal.
As the price of metal goes up generally you lose a percentage of the premium you paid.
There are plenty of coins out there 20 years old in perfect condition going for near spot.
Though I'm sure expert collectors can often make money.
As you can see ,I'm not a coin collecter.

Only a couple of years ago 1kg silver was the go.($650)
Now they are less sort after compared to 10 oz bars ($400).
People pay extra for tradability.
Maybe 5 oz is a good buy,even with percentage.
Cheap one oz coins or bars, would be best in silver.

In short,the smaller the better if low premium.
Metal is metal.
Anything else is tricky. :)
Click to expand...

'Excellent advice Peter'

REDBACK
Click to expand...

ok, now i know you're kidding! :lol:
 
Yippe-Ki-Ya said:
yes there has - in the USA - when gold was banned from being held by private citizens.
Australia - with its big, interfering government - runs the risk of having the same draconian laws being passed for the "greater good" ...
The only way to mitigate against that kind of government theft is to elect a libertarian government, which equates to a small government dedicated to only those important tasks in which government should be involved, eg defence, courts system and police.

unfortunately we live in a nanny state where the rights and freedoms of individuals are not that important ... so yeh i'd have to say political risk is pretty high
Click to expand...

Two points Yippie

First, we already have that law on the books - in 1976(?), the Governor-General just suspended it. The suspension can be reversed by another proclamation by the GG, upon the advice of his council (the PM and her little mates) in the blink of an eye. And gold ownership by Australian citizens would be illegal again. "Hand it over at our price"

Second. Elect a libertarian government - YAY!!!! But where the hell do we find it?????? Every time I turn around, there's some public master telling me I can't do something!!! Or I must fill in this form, pay an "administration fee" and wait for someone in Canberra to make a decision!!!
 
SilverPhoenix said:
Yippe-Ki-Ya said:
yes there has - in the USA - when gold was banned from being held by private citizens.
Australia - with its big, interfering government - runs the risk of having the same draconian laws being passed for the "greater good" ...
The only way to mitigate against that kind of government theft is to elect a libertarian government, which equates to a small government dedicated to only those important tasks in which government should be involved, eg defence, courts system and police.

unfortunately we live in a nanny state where the rights and freedoms of individuals are not that important ... so yeh i'd have to say political risk is pretty high
Click to expand...

Two points Yippie

First, we already have that law on the books - in 1976(?), the Governor-General just suspended it. The suspension can be reversed by another proclamation by the GG, upon the advice of his council (the PM and her little mates) in the blink of an eye. And gold ownership by Australian citizens would be illegal again. "Hand it over at our price"

Second. Elect a libertarian government - YAY!!!! But where the hell do we find it?????? Every time I turn around, there's some public master telling me I can't do something!!! Or I must fill in this form, pay an "administration fee" and wait for someone in Canberra to make a decision!!!
Click to expand...

+ 1 mate - good to see somebody around here "gets it"...

anyway - have a look around here:
http://www.ldp.org.au/

Their policies are brilliant - which probably explains why most of the sheeple have never heard of them or couldnt give a toss!

:D
 
Yippe-Ki-Ya said:
Redback said:
Peter said:
I'd get nothing over 10oz in bars and fractional gold(less than a oz).
I keep away from numi and go for metal nearest to spot.
1oz silver (buffalos)

Gold ..sovereigns,$200,$100.
Near spot ,recognisable and tradable.

Balance percentage premium against amount of metal.
As the price of metal goes up generally you lose a percentage of the premium you paid.
There are plenty of coins out there 20 years old in perfect condition going for near spot.
Though I'm sure expert collectors can often make money.
As you can see ,I'm not a coin collecter.

Only a couple of years ago 1kg silver was the go.($650)
Now they are less sort after compared to 10 oz bars ($400).
People pay extra for tradability.
Maybe 5 oz is a good buy,even with percentage.
Cheap one oz coins or bars, would be best in silver.

In short,the smaller the better if low premium.
Metal is metal.
Anything else is tricky. :)
Click to expand...

'Excellent advice Peter'

REDBACK
Click to expand...

ok, now i know you're kidding! :lol:
Click to expand...

Dude~Now youv'e lost me'remember I only have a 4 cylinder brain
I thought Peters Advice was very solid and great for someone starting out
Must get my reading glasses out
RB~Singing-Because I Didn't Seeeeee
That the joke was on Meeeee
:D
 
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