HomeFairfax General ForumArrest/Ticket SearchWiki newPictures/VideosChatArticlesLinksAbout
Fairfax County General :  Fairfax Underground fairfax underground logo
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
How & Where to Buy Gold?
Posted by: JeffWantsToBuyGold ()
Date: July 13, 2012 03:34PM

I saw on another thread people talking about buying gold and avoiding the banks. How does one go about buying gold? I mean I live in Reston and say I have $2000 in cash and want to buy gold, where do I go and how do I ensure that I get the real thing?

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: meh ()
Date: July 13, 2012 03:53PM

LOL

kill urself before u waste all ur money buying gold

wtf

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: eesh ()
Date: July 13, 2012 03:56PM

Why don't you put that money into bonds....

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: gg6 ()
Date: July 13, 2012 04:31PM

I wouldn't trust the advice of the shady people on this site. Google may be your better bet.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: stephen ()
Date: July 13, 2012 04:40PM

coin shops are a good place to buy and sell gold.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: pro-spector ()
Date: July 13, 2012 05:51PM

I dig for gold every time my nose itches. And I can see why the stuff costs $1600 an ounce... it's delicious!

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: mr savy ()
Date: July 13, 2012 08:20PM

Buy GLD. Otherwise if you buy coins you take a chance they are fakes, the Eastern Europeans have gotten very good at that. Then you have to pay to have it appraised. With GLD you just buy in on the stock exchange and when ready sell it, no fuss no muss

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: dasfd ()
Date: July 14, 2012 11:29PM

GLD, maybe look into mining stocks as well. or get skilled at spotting real gold at swap meets and flea markets

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: hoocoodanode ()
Date: July 15, 2012 02:34PM

JeffWantsToBuyGold Wrote:
-------------------------------------------------------
> I saw on another thread people talking about
> buying gold and avoiding the banks. How does one
> go about buying gold? I mean I live in Reston and
> say I have $2000 in cash and want to buy gold,
> where do I go and how do I ensure that I get the
> real thing?

Take a look at bulliondirect.com and see if that's a route you would like to take.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Glass-Steagall ()
Date: July 15, 2012 02:48PM

eesh Wrote:
-------------------------------------------------------
> Why don't you put that money into bonds....

The large banks can still sieze the assets in customer accounts since they're pledged as collateral, one of the side 'benefits' of repeal of Glass-Steagall. People have been warning about this for about 15 years.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Randall ()
Date: July 16, 2012 10:43PM

I was wondering about this as well. IS it better to buy gold coins (assuming you want to diversify your holdings) so *IF* SHTF, you will have some options besides using the bank.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Ito ()
Date: July 17, 2012 12:03AM

Like all commodities, buying gold is not for amateurs. You are going to get screwed on both ends of the transaction -- when you buy it and when you sell it.

The bull market for gold is already long in the tooth and there are signs that the market might already be saturated. See: http://in.reuters.com/article/2012/07/16/precious-poll-gold-idINDEE86F0CE20120716

You should only consider investing in gold if you already have a diversified investment portfolio, and even then you need to go into the investment with eyes wide open and have a long-term outlook.

The problem with gold and other commodities is that there are so many different influences on price: currency fluctuations, supply, consumer demand, industrial demand. Predicting these markets is a crap shoot.

Granted the price of gold has shot up since 2004. However, if you had purchased gold in 1981 @ $700/ounce, you would not have gotten your money back until 2009 -- almost 30 years! Even if you had purchased gold during any of the intervening years, you would barely have maintained your dollar value vs. inflation.

People always run into a mature bull market thinking that the trend is going to continue to rise... That is how you lose money.



Edited 1 time(s). Last edit at 07/17/2012 12:04AM by Ito.
Attachments:
au75-pres.gif

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: eesh ()
Date: July 17, 2012 12:12AM

Interesting info Ito.....you know, Ellipsis used to post the exact same about gold.

Blessed are the murderous.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Ito ()
Date: July 17, 2012 12:20AM

@eesh

Its not a unique argument. You can do this with just about any commodity. Another example is to invest in oil -- try predicting the price of oil per barrel.

The average price per barrel was cheaper in the 1990s than it was in the 1980s -- in regular dollars. The fluctuation from year to year is nearly unpredictable.



Annual Average Domestic Crude Oil Prices
1975-Present

U.S. Average
(in $/bbl.)

Year Nominal Inflation Adjusted

1975 $12.21 $52.11
1976 $13.10 $52.92
1977 $14.40 $54.58
1978 $14.95 $52.70
1979 $25.10 $78.73
1980 $37.42 $104.49
1981 $35.75 $90.49
1982 $31.83 $75.86
1983 $29.08 $67.12
1984 $28.75 $63.62
1985 $26.92 $57.51
1986 $14.44 $30.26
1987 $17.75 $35.90
1988 $14.87 $28.94
1989 $18.33 $33.97
1990 $23.19 $40.67
1991 $20.20 $34.09
1992 $19.25 $31.53
1993 $16.75 $26.66
1994 $15.66 $24.27
1995 $16.75 $25.26
1996 $20.46 $29.96
1997 $18.64 $26.69
1998 $11.91 $16.80
1999 $16.56 $22.79
2000 $27.39 $36.54
2001 $23.00 $29.86
2002 $22.81 $29.12
2003 $27.69 $34.60
2004 $37.66 $45.78
2005 $50.04 $58.83
2006 $58.30 $66.45
2007 $64.20 $71.03
2008 $91.48 $97.33
2009 $53.48 $57.18
2010 $71.21 $75.05
2011 $87.04 $88.93
2012
(Partial) $93.02 $93.47



Edited 1 time(s). Last edit at 07/17/2012 12:22AM by Ito.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: if shtf ()
Date: July 17, 2012 12:38AM

Randall Wrote:
-------------------------------------------------------
> I was wondering about this as well. IS it better
> to buy gold coins (assuming you want to diversify
> your holdings) so *IF* SHTF, you will have some
> options besides using the bank.


If that happens silver would be better.

You could actually have enough to trade and buy and sell. Not that many people could have enough gold and youd basically be trading your entire backup fund first transaction.

But for the OPs question Providentmetals.com only sells real gold and you can get it at much closer to melt prices than buying from the mint. Coin shops arent good for buying and selling bullion gold since most of their gold coins will have premiums on top of the melt value for what type of coin they are.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Curmudgeon ()
Date: July 17, 2012 07:54AM

Not trying to be rude but if you have to ask then you have no business buying it.

If you want an inflation hedge buy some TIPS or an I-bond. If you want a SHTF hedge buy a 9 millimeter.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: flight risk ()
Date: July 17, 2012 08:34AM

Curmudgeon Wrote:
-------------------------------------------------------
> Not trying to be rude but if you have to ask then
> you have no business buying it.
>
> If you want an inflation hedge buy some TIPS or an
> I-bond. If you want a SHTF hedge buy a 9
> millimeter.


I will add stock food and guns NOW before the prices go up on both. As the economy worsens, being able to take care of one's family will become more important than money.

Options: ReplyQuote
Gold Hunts In Alaska
Posted by: Gold In Alaska ()
Date: July 17, 2012 11:42AM

There are Gold Hunts always going on in Alaska.

Options: ReplyQuote
Re: Gold Hunts In Alaska
Posted by: WingNut ()
Date: July 17, 2012 11:47AM

Buy diamonds, much BETTER investment.

PM Radiophile, get to know him- he will tell you how.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Mike Oins ()
Date: July 24, 2012 03:16PM

Provident Metals my man
https://www.providentmetals.com/

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Pappy Parker ()
Date: July 26, 2012 06:03AM

"There are Gold Hunts always going on in Alaska"

Ain't there an old abandoned gold mine in the Great Falls, Virginia that is, area?

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: GoldBuyer ()
Date: July 26, 2012 11:43AM

You can buy Gold/Silver coins at Gaithersburg Coin Exchange in Gaithersburg, MD or May Jewellers near Tysons Corner.

Options: ReplyQuote
Re: How & Where to Buy Gold?
Posted by: Bill.N. ()
Date: July 26, 2012 01:10PM

Pappy Parker Wrote:
-------------------------------------------------------
> "There are Gold Hunts always going on in Alaska"
>
> Ain't there an old abandoned gold mine in the
> Great Falls, Virginia that is, area?

There is an abandoned gold mine on the Maryland side with a trail running to it. I believe there was a mine on the Virginia side that was worked after the ACW, but I'm not sure if any remnants remain. There is a gold vein that runs from around Great Falls down through the Carolinas and Georgia that were worked before the gold rush in California and occassionally afterwards, but the land today is more valuable for other purposes. The town of Goldvein Virginia and the U.S. Mints in Charlotte NC and Dalonega GA are legacies of this.

Options: ReplyQuote


Your Name: 
Your Email (Optional): 
Subject: 
Attach a file
  • No file can be larger than 75 MB
  • All files together cannot be larger than 300 MB
  • 30 more file(s) can be attached to this message
Spam prevention:
Please, enter the code that you see below in the input field. This is for blocking bots that try to post this form automatically.
 **     **  **    **  ********  ********   ********  
  **   **   **   **   **        **     **  **     ** 
   ** **    **  **    **        **     **  **     ** 
    ***     *****     ******    ********   ********  
   ** **    **  **    **        **         **        
  **   **   **   **   **        **         **        
 **     **  **    **  ********  **         **        
This forum powered by Phorum.