Buying gold in the USA?
Pebbles asked:
Hi, I would like to know how to buy gold in the USA. I realize that long term, gold probably wouldn’t be a good investment. But I would like to own like 2,000 dollars of gold kind of as an insurance policy against hyper inflation so my family has something that is of real value to use if there is lots of inflation.
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Hi, I would like to know how to buy gold in the USA. I realize that long term, gold probably wouldn’t be a good investment. But I would like to own like 2,000 dollars of gold kind of as an insurance policy against hyper inflation so my family has something that is of real value to use if there is lots of inflation.
We don’t spend much money and save quite a bit so if the value of the dollar dropped significantly, we would go from having a nice nest egg built up from years of scrimping and saving to having no security buffer. I think 2k in gold would give us at least some buffer in a worst case scenario.
But I haven’t got a clue how you go about buying gold. Do you actually own the gold and keep it safe or does the place where you buy the gold keep it and just give you a certificate? Where do you go that is an honest place to buy gold?
April 18th, 2009 at 8:31 pm
hi there
there are two ways that you can buy gold.
1. Buy real gold and keep it safe in your home
2. Buy gold on a trading platform just like shares and earn money.
So buying gold now like shares in USA may be little risky coz gold is depreciating as US dollar is on rock.
so I think first option would be better.
April 19th, 2009 at 6:34 am
DO NOT buy ETFs for the scenario you describe. ETFs are really a shorter term investment vehicle. They are not meant for the stability you are looking for in a crisis situation.
That said, there are many places you can buy gold. You can go with a company like Monex.
If you are looking to buy in smaller quantities you would be buying bars or coins, which in your case at $2000 that is what you would be doing (coin). This would be coin such as gold eagle us mint coin, etc. The gold eagle is minted from 1/10 to 1 full troy ounce.
For your needs, you want physical gold. Turn down anything other than that. Also, don’t worry that the gold coin only has a face value of $50, what you are after is the worth of the gold per troy ounce (31.103 grams) on the market.
An ETF would be a horrible idea for this, so would any stock, certificate, and on and on. You want the gold in a safe deposit box, nothing else.
April 19th, 2009 at 4:15 pm
etf’s have some hidden dangers to them. I am assuming that you want to hold bullion. look in the phone book under coin dealers. they will have a selection of bullion products available to you. you can also use the reputable online sources such as gold line and apmex. go on ebay and watch the prices for bullion coins such as gold eagles and such so you know what the prices are.