Hi - I've never purchased precious metals, but would like to begin.
What is you opinion of GoldMoney and the Perth Mint? Since both are in foreign countries, I'm wondering if you consider these as safe options since they store the gold/silver for investors, and you recommend taking possession. Thanks! SG
Goldmoney and the Perth Mint are both good, reputable places to buy your precious metals. I believe you should try to take possession of your metal. Many people worry about government confiscation. However, I believe, as well as many others, that the government is more likely to seize the ETFs than go, house to house, and risk angry confrontations in order to collect a couple of gold coins.
If you are just starting out, I would recommend junk silver coins. Also, two other places I can recommend is APMEX (Apmex.com) and BullionDirect.com. I would avoid Ebay and any auction site since you have little recourse if someone doesn't send you the bullion.
Thanks for all your kind words. I am currently working on writing Hubs that will identify trends of many ETFs, stocks, commodities for each month of the year. It'll be lots of hard work. But I think it will be worth it!
Hello Again, Mithan415,
Thanks for your response. A concern is storing gold/silver in my house - could get scary if someone found out, and especially if any measure of social upheaval begins. Canada has centralized banking, is regulated by stringent rules, and their banks are considered the most stable, safest in the world. (I believe Gold Money stores their gold in a British-based Canadian bank (?).
Some CA banks have branches in the US, but I'm not sure if the US govt. could take these over/close them in the event of a crash? Do you consider Canadian banks in the US a safe place to store metals if necessary? I'm sure there must be rules for going directly into CA, renting a safe deposit box, and storing $$ there. Perhaps okay to consider?
If it's possible the dollar won't be worth the paper it's printed on, is the only alternative to convert all my $$ into gold/silver? That's really a very, very risky tact for someone like me - but is balanced by the idea of losing it all if I do nothing. How do you feel about the stability of foreign currency if the USD fails?
I've been reading books about the USD by Peter Schiff, Charles Goyette, etc. Coupled with all the media/web hoopla, it's both scary - and confusing! On top of all this, I'm a social worker, and believe me, there's some very angry rhetoric I routinely hear regarding entitlements and rioting (a la Greece.)
I'm certainly not fearful or panicky, but I do feel I need to get reliable information and something planned; and perhaps make some (hopefully intelligent!) moves if necessary. Also in lieu of the real inflation rate for fuel/food, how do you feel about food storage?
Thanks for any feedback you would like to provide - much appreciated! SG
I have bought my precious metals from goldsilver.com in the past. I find them to be great value, especially with Mike Maloney's insights and teaching, that I have followed for a long time.
Another option, if you are more business minded, is to enroll in one of many gold/silver referral programs. I found a great referral program not long ago that I promote on my website. It's like a subscription, you subscribe to receive 1, 2, 3, 10 or more coins pr month in the mail, contrary to buying in huge quantities from the dealers.
The prices for this service are higher pr coin than if you would buy then in large quantities. However, with a few referrals in your downline (as few as 1 or 2) you also earn monthly silver coins, so the price you essentially pay for each coin can get way lower than what you'd pay from a dealer. 10 referrals who subscribe to 2 coins each, and you get american silver eagles for less than 10 bucks pr coin, a third of the market value.
Not sure if I managed to formulate that correctly. Check out mastersoftruewealth.com/resources and check the article on the bottom of that page for more information.
Whichever you choose, I am happy for you that you are taking measures to invest in real assets. Good for you!
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