Anyone own physical Gold? | Page 4 | Metals Mine

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Anyone own physical Gold?

  • #61
  • Jun 5, 2019 2:39am Jun 5, 2019 2:39am
Quoting 676f6c64
{quote} My goal in life is to be as decked out as the guy in that video: {image}
I remember the story of this guy. Unfortunately he was eventually murdered in 2016: https://www.thehindu.com/news/nation...le14491021.ece
  • #62
  • Edited 9:27am Jun 5, 2019 9:05am | Edited 9:27am
Quoting pundit78
{quote} That is rightly said, if you purchase gold coin instead of gold jewellery, wives become very upset. ...
I think our wives are part of the same overarching female kharma. Oddly, they don't seem to complain when the cash is there to buy what they want...further, my wife thinks I'm in my office all day "playing video games" instead of working a "real job". Buying Gold Coins was the "last straw" a firestorm of fury hit me like a ton of bricks.

What did I do? I bought more gold jewelry, AND flowers. Now I just keep my investment activities to myself. As long as there is cash for the nail salon and a new dress for (whatever) party she leaves me alone...
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  • #63
  • Jun 5, 2019 11:54am Jun 5, 2019 11:54am
So where do you guys store your physical gold?

In a safe at home? Or a safety deposit box at a bank?

If you store your gold at home please PM me your address and when you are planning your next vacation...
If you have faith in our leaders of commerce, don't buy gold.
  • #64
  • Jun 5, 2019 2:29pm Jun 5, 2019 2:29pm
Quoting 676f6c64
So where do you guys store your physical gold? In a safe at home? Or a safety deposit box at a bank? If you store your gold at home please PM me your address and when you are planning your next vacation...
Haha, was just trying to write you, before reading the whole post, that this answer is harder to answer, because as soon someone would publish this, he is not very good at storing/hiding it. I can just hint you that there are very good, even anonymous, options to store gold... The classical you already know... burry it somewhere and come back 50years after or "in next life" If you can hide it even if someone tracks with detector, even better.
Can you afford to take that chance?
  • #65
  • Jun 5, 2019 2:29pm Jun 5, 2019 2:29pm
Quoting 676f6c64
So where do you guys store your physical gold? In a safe at home? Or a safety deposit box at a bank? If you store your gold at home please PM me your address and when you are planning your next vacation...
I store mine in my safe, drilled to the ground. Here's my address below. Come by anytime and don't bother stopping for security. They're friendly. Just wave.

Bullion Blvd (Chaffee Gate)
Fort Knox, KY, United States
40121
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #66
  • Jun 5, 2019 2:50pm Jun 5, 2019 2:50pm
Quoting 676f6c64
So where do you guys store your physical gold? In a safe at home? Or a safety deposit box at a bank? If you store your gold at home please PM me your address and when you are planning your next vacation...
I store mine here
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 1.2 MB

Address is:
1st Cavalry Regiment Road
Building 1002,
Kentucky

I'll let you know when I'm on vacation
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  • #67
  • Jun 5, 2019 5:02pm Jun 5, 2019 5:02pm
Quoting EventsTrader
{quote} I store mine in my safe, drilled to the ground. Here's my address below. Come by anytime and don't bother stopping for security. They're friendly. Just wave. Bullion Blvd (Chaffee Gate) Fort Knox, KY, United States 40121
Attached Image
  • #68
  • Jun 5, 2019 8:12pm Jun 5, 2019 8:12pm
You guys are crazy... You let your wives know about your gold?!?

But on a serious note, is there a market to trade physical gold or is it just a buy and hold thing for everyone?
  • #69
  • Jun 5, 2019 9:20pm Jun 5, 2019 9:20pm
Quoting bigtx
You guys are crazy... You let your wives know about your gold?!? But on a serious note, is there a market to trade physical gold or is it just a buy and hold thing for everyone?
If you buy the right bullion there's a market and you can unload it pretty easily. Just stick with the main coins I listed here: https://www.metalsmine.com/showthrea...0#post12308850
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #70
  • Jun 5, 2019 9:21pm Jun 5, 2019 9:21pm
Quoting DonPato
Hello Friends and welcome to the new "Metals Mine" Forum. I'm going to assume that many of you browsing here are experienced Gold traders and as traders have positions in markets of varying lengths (of time) and different goals for your trading positions. However I would like to know if any of you actually own physical gold and if you do, what your purpose is for holding it?
I don't have a significant amount of physical gold but I am currently in the market. Honestly I would prefer to store quite a bit of my wealth in gold if I could manage it.

If you have the luxury of owning a large portfolio physical gold will help diversify your asset allocation and counter party risk. People usually spend time avoiding holding all their assets with one bank but I think it is even better to have a lump sum un-banked and unaffected by institutions (regardless of whether they are too big to fail or small enough to fail).

Doomsday theories aside holding gold long term can be expensive through traditional financial methods. There is nothing worse than eating the contract costs when the futures underlying an ETF rollover. If you have a safe place to store it and plan on holding for 5+ years why not go the physical route?

Quoting DonPato
If that is less than 10% I buy an appropriate amount to bring the value of the "hard asset" to within this range of 10-15%. Likewise if the value of the asset is high (>15%) I will sell the appropriate amount and add that cash back into the "paper" assets to bring the entire net worth back in line. Anyone else do anything like this?
That is a great idea, I have been doing something similar for crypto and it has worked well.

Quoting DonPato
I'm sure there is some "formula" for durable assets - to - liquid assets - to - portfolio assets. I'd really like to see one and try to adjust it to my circumstances.
As far as your formula is concerned I would have to think more on it.

One idea that comes to mind though is you could always back into a % of your portfolio by starting with the classic "percentage of stocks equal to 100 minus your age" formula. I would then allocate about 25% or so of my less risky assets to physical precious metals. So for instance a 45 year old would have 45% of their portfolio in low-risk assets 25% of which are physical precious metals (or about 11% of their total portfolio).

I also like auric's suggestion of estimating living expenses and adjusting your formula that way. Personally I would target 3 years of living expenses with an absolute minimum of 6 months.

I think some combination of the above two methods would work well and I'll probably adjust my own portfolio a bit as a result.
careful not to step in a pile of it
  • #71
  • Jun 5, 2019 9:24pm Jun 5, 2019 9:24pm
I have questions for the experienced physical bullion buyers and sellers out there!

I'm trying to decide where to buy some silver maple leafs, american eagles, and maybe a kangaroo. I'm considering buying one from four different places. Apmex, JM Bullion, Provident, and still deciding on the fourth. The RCM has premiums that I don't want to pay. Any advice on best places would be appreciated.

My biggest question is about Provident. They appear to have the best prices. Any reason I wouldn't want to buy from them?

My theory of buying one from a few places is I can find out who is the best and then just stick with them. I'd like to skip this step if there's anyone that can shine some light on it.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #72
  • Jun 5, 2019 9:32pm Jun 5, 2019 9:32pm
Quoting bigtx
You guys are crazy... You let your wives know about your gold?!? But on a serious note, is there a market to trade physical gold or is it just a buy and hold thing for everyone?
I dare say it's the same market. The spot price is what drives fluctuations on all gold physical or otherwise. Anything above and beyond that is premium for "unique" qualities that gold may have. Like coinage or some form of "workmanship" that make it unique. Gold bars or ingots are simply large quantities of the metal and are "certified" by weight and composition by some authority.

Your "market" is the dealer you choose to do business with. Not unlike your trading broker. Among dealers the difference in price from one coin (of the same type) to the next is the dealer's spread or premium value (condition) of the coin (or bar). Obviously "uncirculated" would carry a higher premium than one that's been around for awhile...unless it's REALLY old... antique and has some historic value in addition to it's intrinsic value.
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  • #73
  • Jun 5, 2019 9:57pm Jun 5, 2019 9:57pm
Quoting riclater211
If the world/dollar collapses, it is all useless. Gold, cash means nothing. Gasoline and other fuels, weapons and ammunition, medical supplies, fresh water/food and other necessities will trump anything else.
Accumulating things that actually have some sort of utility... well that's ridiculous. Not to mention collecting weapons sounds like fun.
careful not to step in a pile of it
  • #74
  • Jun 6, 2019 7:17pm Jun 6, 2019 7:17pm
Quoting DonPato
{quote} I dare say it's the same market. The spot price is what drives fluctuations on all gold physical or otherwise. Anything above and beyond that is premium for "unique" qualities that gold may have. Like coinage or some form of "workmanship" that make it unique. Gold bars or ingots are simply large quantities of the metal and are "certified" by weight and composition by some authority. Your "market" is the dealer you choose to do business with. Not unlike your trading broker. Among dealers the difference in price from one coin (of the same...
Right, thanks. I like where your head is. I just want gold for the value of it. Any of the premiums, rarity, etc. seems like fluff to me. Gimme the gold and that's it!
  • #75
  • Jun 6, 2019 7:46pm Jun 6, 2019 7:46pm
Quoting bigtx
{quote} Right, thanks. I like where your head is. I just want gold for the value of it. Any of the premiums, rarity, etc. seems like fluff to me. Gimme the gold and that's it!
Then it would seem like bars are what you're looking for. Unless you want to mine it yourself. Swiss bars seem the most popular
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  • #76
  • Jun 6, 2019 9:45pm Jun 6, 2019 9:45pm
Quoting bulltrap
{quote} Accumulating things that actually have some sort of utility... well that's ridiculous. Not to mention collecting weapons sounds like fun.
Did I wind up in a preppers forum? I have no room or guns to protect physical gold. I'll stick to virtual ownership until I can build up my arsenal.
If in doubt, paddle out!
  • #77
  • Jun 6, 2019 9:57pm Jun 6, 2019 9:57pm
Quoting SurfsUp
{quote} Did I wind up in a preppers forum? I have no room or guns to protect physical gold. I'll stick to virtual ownership until I can build up my arsenal.
Prepers?? I certainly hope not...I think most of these (at least mine are) comments meant as "tongue-in-cheek". That said, I really opened this thread to explore the most efficient way to preserve real value. History shows us that every FIAT currency eventually fails...EVERYONE. The world is completely made up of this kind of currency...when will it fail? No one knows...however it is only prudent to have at least some reserve that is a tangible asset. How much? is the question of this thread. (although we do seem to have gotten a bit sidetracked).
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  • #78
  • Jun 6, 2019 10:15pm Jun 6, 2019 10:15pm
Quoting SurfsUp
{quote} Did I wind up in a preppers forum? I have no room or guns to protect physical gold. I'll stick to virtual ownership until I can build up my arsenal.
Honestly I think that's fine to own virtually. GLD is backed by gold in held in vaults in London so it should be fine unless there's massive fraud or some sort of apocalyptic scenario.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #79
  • Jun 6, 2019 10:21pm Jun 6, 2019 10:21pm
Quoting Ef5
{quote} Honestly I think that's fine to own virtually. GLD is backed by gold in held in vaults in London so it should be fine unless there's massive fraud or some sort of apocalyptic scenario.
There are those vaults and then there's the 433 Eros vault.
  • #80
  • Edited Jun 7, 2019 1:08am Jun 6, 2019 11:58pm | Edited Jun 7, 2019 1:08am
I will say holding physical precious metals definitely isn't just for preppers. Despite the stigma that terrible infomercials put off I think it is prudent and helps an investor diversify.

It is fun to exaggerate a bit when making a point about how the world values things though. Anything that can be bought/sold in some form of marketplace is an asset but the value (price) of that asset is often not tied to its utility. Gold is just one example of how the economy (humanity) is ultimately what determines something is worth.

To avoid getting too sidetracked though does anyone recommend a particular safe for gold storage? This guy seems pretty nice: https://www.wayfair.com/Gardall--Fir...3915%2C7313916.

As of now my precious metals are all buried in my backyard.... kidding!... I don't have the luxury of a backyard atm
careful not to step in a pile of it
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