Gold and silver prices are down

[Kevin_NH]

What are some reasons why one would start stacking gold and/or silver ? Is it in investment ? Or collection ?

Depends who you trust

Why Gold At Costco Is A Terrible Investment And What To Buy Instead | Bankrate

Popular retailer Costco is hawking gold ingots to its millions of club members, but the shiny yellow metal is a pretty awful investment.

www.bankrate.com

 

[Varmint]

I wouldn't buy gold or silver off the shelf at a Walmart, but their online channel ships from major "online bullion dealers" and the like, so no less trustworthy than ordering from APMEX.

I’d just use EBay, order from Apmex. Prices are better than ordering direct from Apmex.

 

[Varmint]

What are some reasons why one would start stacking gold and/or silver ? Is it in investment ? Or collection ?

My main concern is the fact the US government has set up laws so banks or brokerages can take some or all of your money if there’s a financial crisis.

So I want assets that they can’t take from me with a keyboard. Gold, real estate, guns, vehicles etc.

 

[Varmint]

Depends who you trust

Why Gold At Costco Is A Terrible Investment And What To Buy Instead | Bankrate

Popular retailer Costco is hawking gold ingots to its millions of club members, but the shiny yellow metal is a pretty awful investment.

www.bankrate.com

Buy GLD instead of physical gold?

Yeah, in the fine print for GLD is the clause that they can refund your money at yesterday’s price. So you wake up tomorrow and gold has been revalued from $1850 to $10,000. You get excited and check your GLD, and find the fund is closed and they refunded you your money at $1850.

 

[Rat187]

What are some reasons why one would start stacking gold and/or silver ? Is it in investment ? Or collection ?

insurance

 

[Kevin_NH]

My main concern is the fact the US government has set up laws so banks or brokerages can take some or all of your money if there’s a financial crisis.

So I want assets that they can’t take from me with a keyboard. Gold, real estate, guns, vehicles etc.

Funny, I was talking to some Free State folk in Manchester yesterday (can't throw a goldback without hitting a freestater), and he said that is why he hold bitcoin. Claims he could literally walk across the border with nothing except what is in his head, and not be without assets once he gets hand on a keyboard in his new home country.

 

[richc]

I'd gladly buy from Costco. They stand behind their stuff for sure.

 

[chris_1001]

I'd gladly buy from Costco. They stand behind their stuff for sure.

Can you get a refund in 30 days if gold crashes? Lol

But kinda a serious question…

 

[richc]

Can you get a refund in 30 days if gold crashes? Lol

But kinda a serious question…

I doubt it. That would be dumb of them and they are not dumb...

But, I would trust them to stand behind the product and only ship validated, true gold.

 

[DJBrad]

I wonder if gold will pop on the overnight trading tomorrow due to this new front on the West bank.

 

[Kevin_NH]

Can you get a refund in 30 days if gold crashes? Lol

But kinda a serious question…

From the Costco website: This item is not eligible to be returned or refunded.
Ditto for Walmart.

 

[chris_1001]

From the Costco website: This item is not eligible to be returned or refunded.
Ditto for Walmart.

Makes sense.

 

[Varmint]

I wonder if gold will pop on the overnight trading tomorrow due to this new front on the West bank.

Even if it does, it'll be temporary. Geopolitical events are always temporary movers of gold.

 

[DJBrad]

Even if it does, it'll be temporary. Geopolitical events are always temporary movers of gold.

That is correct. Just like when the Russia incursion into Ukraine started.

 

[DJBrad]

Attack on Israel likely to boost appeal of gold, safe haven assets

The violence in Israel will likely prompt a move into safe haven assets as investors closely watch events in the Middle East to gauge geopolitical risk to markets.

www.reuters.com

 

[Romokid]

I’d just use EBay, order from Apmex. Prices are better than ordering direct from Apmex.

I ordered the 10 silver Maples that Walmart had, got them for $251 and change then sales tax but free shipping and they arrived yesterday shipped direct from APMEX. (And no addition charge for using a credit card as you would if you ordered direct from APMEX)

 

[Varmint]

I ordered the 10 silver Maples that Walmart had, got them for $251 and change then sales tax but free shipping and they arrived yesterday shipped direct from APMEX. (And no addition charge for using a credit card as you would if you ordered direct from APMEX)

Walmart is purely a digital middleman so should be as safe as buying direct (and cheaper as you found).

$25/maple is not bad at all! Maybe cause the US mint increased production?

 

[DJBrad]

I ordered the 10 silver Maples that Walmart had, got them for $251 and change then sales tax but free shipping and they arrived yesterday shipped direct from APMEX. (And no addition charge for using a credit card as you would if you ordered direct from APMEX)

Comes out to $274 for me with tax.

 

[DJBrad]

$505 for the 20 roll of silver Buffaloes.

 

[Varmint]

Comes out to $274 for me with tax.

Yeah have to buy in quantities over $1000.

 

[Romokid]

Comes out to $274 for me with tax.

Yeah I got lucky as it was when the spot dropped under $21

 

[DJBrad]

Yeah I got lucky as it was when the spot dropped under $21

I still purchased 20 maple leafs cuz I don’t expect premiums and spot prices to be this low for too long.

 

[Romokid]

Yup, I also had bought a couple 1/10 oz gold philharmonics and 1/4 oz gold maple. My only problem was I was not smart enough to get them all at the same time from the same vendor to not have to pay sales tax.

 

[strangenh]

Funny, I was talking to some Free State folk in Manchester yesterday (can't throw a goldback without hitting a freestater), and he said that is why he hold bitcoin. Claims he could literally walk across the border with nothing except what is in his head, and not be without assets once he gets hand on a keyboard in his new home country.

100% One of the original points of the stuff. Better than sewing gold tenths into your hems.

 

[Varmint]

Oh look, gold is $1907.

$1900 gold is like the gift that keeps on giving.

 

[Grendizer138]

I still purchased 20 maple leafs cuz I don’t expect premiums and spot prices to be this low for too long.

The Manchester coin show is October 27-28. I’ve been planning on buying a roll or two there, so I can tell you exactly when premiums will go up: October 26th.

 

[richc]

Looks like the fear trade is kicking in. Silver is up 50 cents.

 

[DJBrad]

Dang I timed that silver buy almost as good as @Romokid

 

[DJBrad]

Oh look, gold is $1907.

$1900 gold is like the gift that keeps on giving.

The war premium just keeps giving and taking. Ground assault in Gaza will cause a bigger spike but we also have too many confluent factors like debt ceiling, lagging rates, corporate earnings, safe haven plays, etc, to name but a few.

 

[richc]

Dang I timed that silver buy almost as good as @Romokid

Yes, you did...