Buying physicals...

Discussion in 'Commodity Futures' started by TheGoonior, May 2, 2011.

  1. Whats the big deal? Your ad is anonymous. You buy in a public place with cash on a first name basis after testing it. You keep it in a safe deposit box. Do you keep all your cash in your house, or just some of it in your house and most in the bank? You could run a safety deposit box stash the same way...take out only what you need. Whether you buy it through the mail or whatever, I hope you keep it in a safe deposit box anyway.

    And you need to know that any purchases you make over a certain size from a "reputable" source will soon be reported to the "people in charge" who can later decide they want to confiscate your gold. But that doesn't have to happen with a Craigslist purchase.

    Lastly, focus on old, low-grade U.S. or even foreign gold coins. Hard(er) to fake than jewelry, the weight is well documented, and last time privately held gold was outlawed, numismatic gold was granted an exemption.

    #11     May 3, 2011
  2. I would not take that risk unless you know what you are doing. Ask any gold/silver dealer how many times per day someone tries to pull a scam on him and thats why you shouldnt buy on craigslist.
    #12     May 3, 2011
  3. Tell me which broker you are using to take delivery, I am using IB, which don't do delivery. what is shipping cost for micro-lot?

    People in Canada are paying very high premium over spot, and there is no currency advantage what so ever, (Even thought Canadian dollar worth much more than US dollar now.)

    My local dealer don't have any American Eagle un-circulated coins, proofed selling about $90.
    #13     May 4, 2011