Gold - How to buy

femur61

How would you buy gold?

Adrock-aka

Most people use financial instruments to gain exposure to gold and dont take actual delivery of the commodity.

You can look at dealing in commodity futures, bonds, spread betting on gold or using a pure play investment where you purchase the shares of a company that depend on gold prices for its viability.

Go to gold.ie to actually buy it if you like. Theres more info on it there too.

samson09

Buy a selection of coins from 1/10th-1 oz and tell absolutely no one. You only own it when its in your hand.

MrMatisse

Maybe buy an etf.

Much more liquid and lower transaction costs than holding actual gold.

marathonic

I had looked at physical gold ETF's such as GLD which trades on the NYSE. However, I decided to go the miner route instead. Personally, I like AEM and posted about them in my blog this week. They've dropped quite a bit over the past month so now might be a good buying opportunity.

They announced dissappointing earnings last week but the problem was all one-time events such as mine closures for ramp-ups, etc.

Personally, I like to sell Naked Put Options rather than buying the shares straight-out.

At the moment, you could sell Naked Put Options for January expiry at a strike price of $55. For this, you would recieve $430 per Option in Premium.

Then, if AEM closes above $55 on January 15th, you keep the $430 as profit. If AEM closes below $55, you must buy 100 shares per Option at $55. However, as you'd already received $430 (or $4.30 per share) in Premium, the shares would really be costing you $50.70 per share. They're currently trading at $57.55 per share.

If the results are as good as I expect at the end of January, the shares should rise to $70+ (assumming gold prices remain above $1,000 per ounce).

buck65

samson09 wrote: »

Buy a selection of coins from 1/10th-1 oz and tell absolutely no one. You only own it when its in your hand.

How would one do this ?

macshadow

buck65 wrote: »

How would one do this ?

Keep an eye on www.gold.ie you will be able to buy online when they launch their online store in the next few weeks.

mervuedude

If I was buying gold I'd get on the boat to Liverpool, drive to Blackpool and head to Chards. I've been there before but didn't purchase, more fool me. You can give them a call before you go and make sure they have what you want, they've got a website. I'd buy Canadian Maple leaf, they're 24 carat. Kruggerands are 22 carat. Bring them back on the boat and as advised already tell no one. Alternatively if you fly put the coins in your pocket as they won't set off the security alarm going through security (so I'm reliably informed).

samson09

macshadow wrote: »

Keep an eye on www.gold.ie you will be able to buy online when they launch their online store in the next few weeks.

I've spoken to that crowd already, they'll sell you coins but their premiums are ridiculously high. There are plenty of places to buy online, even ebay sell gold coins and sometimes have great deals. If you don't want to physically possess the gold you could always have a look at bullionvault.com or goldmoney.com, your gold will be stored for you. I wouldn't advise an ETF or even shares unless you're in it for the short term. Buy and hold is the way to do it with gold, buy on the dips bit by bit and maybe diversify your holdings with a bit of silver and platinum too.

samson09

mervuedude wrote: »

If I was buying gold I'd get on the boat to Liverpool, drive to Blackpool and head to Chards. I've been there before but didn't purchase, more fool me. You can give them a call before you go and make sure they have what you want, they've got a website. I'd buy Canadian Maple leaf, they're 24 carat. Kruggerands are 22 carat. Bring them back on the boat and as advised already tell no one. Alternatively if you fly put the coins in your pocket as they won't set off the security alarm going through security (so I'm reliably informed).

Now that's how you buy gold! The Austrian philharmonics are nice too, as are American eagles/buffalos but they tend to be a bit more pricey.

lucky-colm

mervuedude wrote: »

. Alternatively if you fly put the coins in your pocket as they won't set off the security alarm going through security (so I'm reliably informed).

until the security gaurd tells you to take of your shoes and belt to walk through the metal detector and the weight of the coins pulls the pants down around your ankles:D:D

and tell no one

ED 209

Buy bullion and store it in a vault in Switzerland. That's the best way to buy gold my friend.

StToldy

Yes, the old having-gold-bars-stored-in-my-swiss-bank-vault is really on the comeback. To go really old school you shuld burry some gold in the backyard as well.

samson09

Another reason why you should buy physical gold in the form of coins/bars.

https://www.youtube.com/watch?v=M0-hGHJSgNA