Stacking/buying Gold and Silver?

tonyride said:
It's not a coin, it's a 1 oz bar. It is sealed in plastic with serial number printed on the back. Also comes in a sleeve. I got this from Costco.com so getting it is as easy as getting anything from their website except you'll have to sign for the package. Aside from Costco there are a dozen of other reputable online bullion retailers in the US you can get precious metals from. I've ordered from JM Bullion and they sell these too but a simple search for gold and silver will come up with a bunch online retailers. Many will also buy from you as well.
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We collected the Australian zodiac coins since 2000. But decided to stop with this year as gold just too high. Though I'm still tempted to get their 10oz coin.
 
I buy gold and silver as a safety net in case the dollar drops. I'm not a big investor, but I like having some and slowly adding to my collection. It’s a good way to diversify. If you're looking for other investment ideas, check out smart home startups. They're growing pretty fast and could be a good investment as more people start using smart home tech.
 
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In case you didn't know, as of January 1, 2025 precious metal purchases over $1000 is now tax free in NJ. This is only for coins, rounds, bars, bullion. This does not include jewelry. Also, Costco.com is selling 1 oz gold bars for $2689.99 with spot at $2662.50. I just placed an order, no shipping and no tax. Might be sold out by the time you see this though.
 
I googled $30,000 gold in 2015 worth today
VS
$30,000 4% high yield saving account for 10 years

The savings account worth a little more. I understand why one wants gold bars. It's like why I'm holding onto physical music and video games ha
What is the probability of some crazy end of world movie scenario actually happen for physical gold be beneficial?
 
Santapez said:
How much can you sell that gold bar for?
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I'm not sure if your question is serious but it depends on where you go. They usually will pay you a couple of percent less than spot price. You can either go to a coin shop if you want the money fast or you can try some online precious metals dealers like JM Bullion or SD Bullion. I've only sold to JM Bullion and they're very easy to deal with.
 
THATmanMANNY said:
I googled $30,000 gold in 2015 worth today
VS
$30,000 4% high yield saving account for 10 years

The savings account worth a little more. I understand why one wants gold bars. It's like why I'm holding onto physical music and video games ha
What is the probability of some crazy end of world movie scenario actually happen for physical gold be beneficial?
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Gold was around $1160/oz back in 2015 and as of now gold is at $2680/oz. That's over 130% in 10 years. So $30K in 2015 would buy you close to 26 ounces of gold. Today that gold would be worth $69,310. But precious metal collecting isn't really for investing but rather a hedge against the falling dollar. I don't have any of my retirement investments in precious metals.

BTW, I'm not trying to sell anyone on collecting precious metals. Either you do or you don't. If you do then I'm just letting you know that now in NJ if you buy $1000 or more in precious metals you no longer have to pay sales tax.
 
tonyride said:
I'm not sure if your question is serious but it depends on where you go. They usually will pay you a couple of percent less than spot price. You can either go to a coin shop if you want the money fast or you can try some online precious metals dealers like JM Bullion or SD Bullion. I've only sold to JM Bullion and they're very easy to deal with.
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Was being serious.

I remember reading a number of years ago about buying diamonds for investments. But then when it came to sell nobody buys diamonds for anywhere near street value.
 
hmm like who buys gold from another person and not just go to costco. Good point

I think I'd rather invest in a bunker and non perishables
Fallout was a great show
 
Santapez said:
Was being serious.

I remember reading a number of years ago about buying diamonds for investments. But then when it came to sell nobody buys diamonds for anywhere near street value.
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This is serious - I sold my college class ring recently. Went to a reputable jeweler.
Spouse took care of it, and applied it to a significant repair (we had to cut off her wedding/engagement ring set)
I didn't get an accounting, they just told her a number.
it sounded low (even though it was more than twice what I paid for the ring)

Didn't they just find a huge stash of gold?
 
THATmanMANNY said:
hmm like who buys gold from another person and not just go to costco. Good point

I think I'd rather invest in a bunker and non perishables
Fallout was a great show
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Fair enough. Again, I'm not trying to encourage you or anyone else to buy precious metals. This thread was intended to link up with those who do buy them and share info. Not to sell them on buying them. BTW, I'm changing the title of this thread and getting rid of "Investing" because I'm not buying them as investments.
 
Patrick said:
This is serious - I sold my college class ring recently. Went to a reputable jeweler.
Spouse took care of it, and applied it to a significant repair (we had to cut off her wedding/engagement ring set)
I didn't get an accounting, they just told her a number.
it sounded low (even though it was more than twice what I paid for the ring)

Didn't they just find a huge stash of gold?
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Note: Not an expert.

I have some gold and I was trying to sell it just before moving and while not sleeping one night was looking at gold buying places in NY/NJ. From what I was reading most rings/bracelets whatever just get melted down unless it's something that would be sought after. Jewelers basically sell to smelters so selling to the smelters was the best pricing as you cut out the middle man.
 
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