GOLD

[newbietrader]

Hi all,

Im new in this gold/silver bullion.. and I would like to keep a few physical gold and silver bullion. Where can I get them? Is it cheaper to get from overseas or locally?

From other forum, people recommend http://www.silvertrading.net/.

Thanks
Andrew

[peat]

newbie trader

check out nzsilver.co.nz - Alec will provide you with silver rounds. I recently got a Austrian Philharmonic 1 oz coin from him

or search for silver or bullion on trademe - not only will you find individuals selling but you will find businesses listing there as well . theres certainly a lot less for sale than there used to be but there is still some.

Acquiring physical metal is a lot more expensive than quoted spot prices so it isnt that suitable for actual trading (as your nick suggests) more appropriate for long term holding.

[arco]

.


Have I done my calcs correct - those Silver Eagles @ NZ $36.50 are currently nearly double the price of spot (presently 11.58 and falling)

I wonder what the buy back price is ?.....makes it expensive both ways, or am I missing something.

[Aussie]

Hi all,

Im new in this gold/silver bullion.. and I would like to keep a few physical gold and silver bullion. Where can I get them? Is it cheaper to get from overseas or locally?

From other forum, people recommend http://www.silvertrading.net/.

Thanks
Andrew

I have bought several times from Larry LaBorde at Silver Trading in Louisiana. He is highly reputable, will ship overseas and organizes insurance. There is no GST in NZ on gold and silver as long as it is .999 purity.

You can try The New Zealand Mint. Nice people to deal with - only sell Gold Kiwi's - nice coins though.

http://www.newzealandmint.com/

I've also bought from Jaggard's in Sydney. Again, very reputable but they only source Australian Kangaroos from the Perth Mint.

http://www.jaggards.com.au/

If you buy physical metal you must ask yourself "what am I buying it for".

It is not a vehicle to make you rich, gold is most used to preserve your wealth against inflation and currency devaluations as it would have this year when the Kiwi nosedived. It should be the core position of your portfolio and one of the last assets you are likely to sell, unless the global situation changes dramatically for the better - not likely for some time.

Most financial advisors in the past have recommended no more than about a 5% exposure although right now many are saying 20%, with some of the more conservative types saying 50%.

I would beware of ETF's or pooled accounts since they are mere proxies and if TSHTF and you want to take delivery, you likely will not be able to. The real beauty of gold is that it never carries a liability and is always money - just keep it safe.

If you want to trade the gold market - I would not, and certainly NEVER with margin. The COMEX is so manipulated by the big banks that it's almost impossible to trade unless you trade with them, and they have very deep pockets.

If you want to buy gold stocks they are doing very well right now having jumped up 100% or more off their recent lows and many expect them to outperform in '09 and beyond. But nothing is a sure bet.

Cheers and good luck

[Aussie]

.Have I done my calcs correct - those Silver Eagles @ NZ $36.50 are currently nearly double the price of spot (presently 11.58 and falling)

I wonder what the buy back price is ?.....makes it expensive both ways, or am I missing something.

A good baseline is APMEX in the US.

http://www.apmex.com/Category/160/Si...09__Prior.aspx

SAE's are selling for US$3.99 over spot a little cheaper if you buy more. So by my calculations they work out about NZ$27 per coin unshipped.

E-Bay buy now prices are US $17.50 each or about NZ$30.00.

[peat]

A good baseline is APMEX in the US.

http://www.apmex.com/Category/160/Si...09__Prior.aspx

SAE's are selling for US$3.99 over spot a little cheaper if you buy more. So by my calculations they work out about NZ$27 per coin unshipped.

E-Bay buy now prices are US $17.50 each or about NZ$30.00.

yeh I think by the time you include the original cost and shipping (and probably insurance) you're never going to get much under NZ30 which is what I paid for the Austrian oz. Silver is now almost $20 per oz spot based on Oanda Silver and USD/NZD rates. The kiwi Silver Fern coins sometimes go for under $30 on trademe but not always and not too often.
eg these two are at $28/oz but not closed yet
http://www.trademe.co.nz/Antiques-co...-195591700.htm

http://www.trademe.co.nz/Antiques-co...-195682842.htm


heres a nice 10 oz block for similar
http://www.trademe.co.nz/Antiques-co...-195873500.htm

[newbietrader]

Thanks for your points. I will go long for this one.
cheers

[arco]

Follow up on post #140

Action has reached the Kumo........and contemplating its next move.

Currently +825

.

[JBmurc]

One thing one must remember when you buy silver/gold bullion is the fact you are converting your NZ dollars(which is one of the worlds smallest most unknown of currency's)
for the world premium longest lasting strongest most respected hard currency's in the world personal I don't mind paying a small premium for the fact.

currently holding 25kilo's of silver bullion average cost $26NZD(have alot in 1oz rounds)

plan on buying at least a kilo/32oz per month going forward as the wages allow

you can currently buy 1kilo bar's off the NZ mint for between $22oz-$24oz which is very good buying at the mo prob one of the best in the world

[arco]

Follow up on post #140

Action has reached the Kumo........and contemplating its next move.

Currently +825

.

Kumo was pierced and I managed to get +1040 on half
and +2000 on the balance as I slept peacefully unaware.

Watching for the next potential entry off a test of the Kumo (former S=R?)