None of these methods seem particularly attractive really. I guess I'll look in greater depth into silver numismatics, which could serve as a leveraged play on silver. Junk silver as you mentioned is a possible option but really more for the currency collapse scenario. Was surprised on my last visit to the US that loads of these coins are still in active circulation. Great to pick them up in change!
None of these methods seem particularly attractive really. I guess I'll look in greater depth into silver numismatics, which could serve as a leveraged play on silver. Junk silver as you mentioned is a possible option but really more for the currency collapse scenario. Was surprised on my last visit to the US that loads of these coins are still in active circulation. Great to pick them up in change!
P
phoenix_n
Guest
Why would you discard Perth mint as an option ?
I wouldn't discard it entirely - in fact for a buy and hold investment it is reasonably attractive. Especially for silver, unless you have a huge amount of spare room in your house! Just that the minimum buy in of $10k is more than I want to invest in silver right now.
An option for the future though certainly.
P
phoenix_n
Guest
I could get 5KAUD as i have residency so might go for it. Would it be just as easy to sell as it would be to buy ?
Just working from memory here but if I remember correctly there is a 1.75% fee above spot value for purchases and then a 0.75% fee levied on sales. When buying there is a $10 charge for the certificate and I think a 0.25% additional charge on the entire transaction, might be slightly higher if you are putting it on a credit card rather than wiring them the money.
Can't imagine there would be any problems with resale. Your only risk (I'm assuming you will go for an unallocated account) would be the bankruptcy of the mint where ascertaining who owns what in unallocated accounts will be more difficult.
It's not like an ETF though, so it really is a long term buy and hold strategy. When you buy it may be a few days before your order gets processed and you can't "lock-in" a particular price - it'll be spot price at the time of processing. Likewise with the sale - there'll be no means of setting a stop loss should prices start sliding.
EDIT: May be VAT issues for residents which you would need to look into.
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P
phoenix_n
Guest
Gonna hold off as trying to figure out if there is going to be a correction in global capital markets this year which will also have an effect on metals ?
Absolutely impossible to predict. Why not buy half now and half later? Or (more complicated) hedge your bets by purchasing a put option on gold futures?
The PMCP is definitely for longterm gold investments so short-term fluctuations in price should not be a concern.
P
phoenix_n
Guest
Yes impossible to predict.
Whats your opinion on this article.
[broken link removed]
Seems light on facts or reasoning. "Sell in May and go away until St. Leger's Day" is an old cliche and perhaps the author is predicating his belief that there will be a "correction in global capital markets and a lower oil price in Spring 2007, so that might make the summer a good time to buy silver to profit from an upturn in the autumn" on this. Who knows? It is not as though he justifies his belief.
If I remember correctly, historically August is one of the best times to buy gold - as Asian and Indian jewellary demand kicks in. However, in recent years Indian jewellers have shown a lot of price sensitivity and tend to try and time their buying to periods when the price has fallen.
If you are trying to time your gold buying then you really shouldn't be looking at purchasing via PMCP but trade using a futures contract, ETF or options.
B
bodum
Guest
Hi guys, Does anyone know of anywhere in Dublin you can buy gold coins "over the counter" rather than going down the ebay route?
W
www.gold.ie
Guest
Gold coins can be bought from us providing you are over the minimum investment requirement of €4,000.
The minimum rate allows us to deal in volume and therefore offer more competitive rates.
We do not deal in cash or bullion 'over the counter' both for our and our staff's safety and security and the safety and security of our clientele.
All bullion and numismatics is stored in the Delaware Depository - and shipped fully insured (by Group 4 Securicor) by Fedex to a residence or office of the clients designation.
The minimum rate allows us to deal in volume and therefore offer more competitive rates.
We do not deal in cash or bullion 'over the counter' both for our and our staff's safety and security and the safety and security of our clientele.
All bullion and numismatics is stored in the Delaware Depository - and shipped fully insured (by Group 4 Securicor) by Fedex to a residence or office of the clients designation.
W
www.gold.ie
Guest
This is not 'soliciting for business'.
Rather a direct answer to a direct question by bodum:
"Hi guys, Does anyone know of anywhere in Dublin you can buy gold coins "over the counter" rather than going down the ebay route?"
All our postings have been consciously informational as there is a massive dearth of information with regard to investing in precious metals and thus education has to the why, how and what of investing in gold is important.
Rather a direct answer to a direct question by bodum:
"Hi guys, Does anyone know of anywhere in Dublin you can buy gold coins "over the counter" rather than going down the ebay route?"
All our postings have been consciously informational as there is a massive dearth of information with regard to investing in precious metals and thus education has to the why, how and what of investing in gold is important.
Think it's fair enough myself - the conflict of interest is well out in the open, and it's not like www.gold.ie hasn't already been a significant contributor to this thread.
I agree with conor_mc. This was a response to a direct question asking where a particular item might be purchased and www.gold.ie responded with the required information. They have clearly disclosed the conflict of interest in the information provided.
If someone posted a question "where might I get legal advice in Tullamore?" and a solicitor in Tullamore responded with information on his/her practice (including a disclosure that they were the owner) I doubt they would be getting rapped on the knuckles like this.
Spondulicks
Registered User
- Messages
- 84
Some thoughts.
Gold is great at times of political uncertainty but it is hard to carry when the going gets really rough.
On the other side when you have to move in a hurry, gold often commands more respect than many other assets when you move to another jurisdiction.
You need much clarity on your motive for investing and equal clarity regarding what else you have got as your portfolio needs to be assessed in the round. For pure speculation, it is not the asset at all it is the behaviour of the crowd you have to think about. See the book "Irrational exuberance and the madness of crowds" for a view on this.
Gold is real asset rather than a paper one so it should be compared to other real assets such as land, forestry, art, diamonds etc. Land at least offers some form of return whereas gold just has capital movement potential.
It used to be hard to have gold bullion in an Irish context and I am not sure what is the current game. Do not let anyone know if you have physical gold with the current robbery propensity.
Have you thought about where most of the gold reserves in the world are and to what extent there could be increased supply in the medium term?
Gold is great at times of political uncertainty but it is hard to carry when the going gets really rough.
On the other side when you have to move in a hurry, gold often commands more respect than many other assets when you move to another jurisdiction.
You need much clarity on your motive for investing and equal clarity regarding what else you have got as your portfolio needs to be assessed in the round. For pure speculation, it is not the asset at all it is the behaviour of the crowd you have to think about. See the book "Irrational exuberance and the madness of crowds" for a view on this.
Gold is real asset rather than a paper one so it should be compared to other real assets such as land, forestry, art, diamonds etc. Land at least offers some form of return whereas gold just has capital movement potential.
It used to be hard to have gold bullion in an Irish context and I am not sure what is the current game. Do not let anyone know if you have physical gold with the current robbery propensity.
Have you thought about where most of the gold reserves in the world are and to what extent there could be increased supply in the medium term?
W
www.gold.ie
Guest
The FT had some good articles on gold over the weekend in the light of record demand in 2006:
FT: Ask the Expert: Gold
http://www.ft.com/cms/s/933091c4-b846-11db-be2e-0000779e2340.html
FT: Gold sales hit record $65.3bn
http://www.ft.com/cms/s/6ff2a310-bceb-11db-90ae-0000779e2340.html
Gold sales benefit from ETF demand
http://www.ft.com/cms/s/b2bc9742-bd5d-11db-b5bd-0000779e2340.html
FT: Ask the Expert: Gold
http://www.ft.com/cms/s/933091c4-b846-11db-be2e-0000779e2340.html
FT: Gold sales hit record $65.3bn
http://www.ft.com/cms/s/6ff2a310-bceb-11db-90ae-0000779e2340.html
Gold sales benefit from ETF demand
http://www.ft.com/cms/s/b2bc9742-bd5d-11db-b5bd-0000779e2340.html
I'd imagine what he means is that the ease of entry into the market by way of ETF (vs buying and holding real gold) has probably made the gold market somewhat easier to speculate against.
In that case, "real" demand is driven by the traditional motivations i.e. as a store of wealth, hedge against inflation etc.
The less "real" demand then would be people buying gold to make a quick buck on a rising market.