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Old 02-19-2010, 08:22 PM   #1
sizzleplatter
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Default looking for advice on gold...

Hi there,

I'm curious if anyone has any solid advice for someone that is new to buying gold... I have never purchased gold and I am looking to learn how to get started. Is it as simple as purchasing gold coins? I see that there are many "gold dealers" online, but how do you know who to trust?

Any advice out there would be greatly appreciated!
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Old 02-19-2010, 09:10 PM   #2
gita
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Default Re: looking for advice on gold...

This article may be of some help Ė itís a warning about buying gold.

Quote

In case you bought gold to ensure your savings, be careful because the same freemason friend of mine told me gold is just another scam to liquidate middle class wealth. The gold price will raise for a while and when enough middle class people in the West have put enough money in it, you-know-who will crash its price in order to destroy the money trapped in it. My friend told me it could happen this year but anyway during the coming two or max. three years. I don`t know if this is true, but as I myself have bought some gold, I am prepared to react quickly.

Unquote

http://www.henrymakow.com/the_secret...to_greece.html
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Old 02-19-2010, 09:44 PM   #3
sizzleplatter
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Default Re: looking for advice on gold...

That is interesting, however believable. It's soooo hard to know who we can trust these days. Overwhelming, to say the least...
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Old 02-19-2010, 10:02 PM   #4
sloper
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Default Re: looking for advice on gold...

I have decided to believe the gold analysts like Jim Sinclair and Bob Chapman who have both been in the business for around 50 years. Henry Makow is not, in my opinion, qualified at all. Sinclair and Chapman both believe gold is the only way to preserve the value of what you have during the coming devaluation of the US dollar. This could happen later this year or beginning of 2011.

Chapman, who writes The International Forecaster, recommends gold and silver coins, and if you have a lot of money, then buy some mining shares. Bob recommends www.goldandsilvertrading.net to buy your coins. Melody Cedarstrom, owner, is an excellent person to talk to. She gives good advice to people who really don't know much about the field. I think the advice you get from her is honest, and she has much experience.

Hope this helps.
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Old 02-19-2010, 10:18 PM   #5
Northern Boy
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Default Re: looking for advice on gold...

If you are worried about your wealth and looking for ways to preserve it then go buy gold . If you want to live and preserve your health and that of your family buy food and water you can`t eat gold and gold is no different than fiat money it only has value because we say it does other wise its just a rock. Gold confiscation is a possiblity and how do you make change for a gold coin if they don`t take it
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Old 02-19-2010, 10:37 PM   #6
sloper
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Default Re: looking for advice on gold...

Sorry that is www.discountgoldandsilvertrading.net
This is to PRESERVE the money you have not to make money, although that is possible. It's also a good idea to store food and water. You can also buy some silver to use at the store or blackmarket that will develop.

Confiscation is unlikely as most Americans do not own gold as they did in the 30s.
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Old 02-19-2010, 11:22 PM   #7
Kulapops
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Default Re: looking for advice on gold...

Would be funny if vending machines were changed to take gold coins and said ' this machine does not give change'

I agree, that Jim sinclair is good to read if you really want an 'up' view about gold. I think he is sincere and he has many years in the financial world...

It's true you can't eat gold. Even buying toilet paper is insurance against inflation...and insurance against one other thing too....

The good thing about gold coin is that it is a highly portable form of wealth (silver not so much so). One oz is currently worth about $1100. and it doesn't rot either.. so if you have a place in mind, you could even bury it somewhere... and it would still be there unchanged, a thousand years later (unless someone sees you put it in the ground !)

As insurance against banks collapsing, it's not a bad idea. George Green was saying his piece about it over a year and a half ago, it sounded like it was better to have something tangible and portable, than some numbers in a bank account.

But unfortunately, for gold to go up in value, it means that confidence in the economy must go down. So if you're 'winning' on gold... watch out for pitchforks going by your window...

I think food is a better insurance first if you're thinking along the...must get prepared... trail. If you've got some left over, then it could be fun to own the odd small coin.

Like any of this stuff, it's just worth covering the bases you can. But unlike shares, gold will never be worthless (unless you're a Mayan)

Ask any Spaniard

K

P.S. A lot of companies have sprung up in the UK lately trying to get 'junk' gold off people for cash... jewellery etc... so there must be money to be made in buying it somewhere or they would not have appeared.
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Old 02-19-2010, 11:23 PM   #8
THE eXchanger
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Default Re: looking for advice on gold...

people always like 'red' lipstick - and, jewelry

sometimes; its good to have some stuff - in silver/and, gold

coins; almost always appreciate in value

it is true-they will try to get the middle classes money-thru gold
and, then, crash the price
a lot of people are holding bars/or, crap they bought from the orient on ebay
which is simply coated stuff - and, NOT real stuff

so, in my opinion, i'd not be buying that

get a gold tester - and, buy scrap metals - there is money in doing that
my dad was in the jewelry & watch business - if you know your stuff
it is quite amasing, what you can do

back when we were born in 1958 -
gold was about $35/oz

being in a family; where that was my dad's business;
sometimes;we could get it for $36/oz - in the mid 70's

here's a chart that might be helpful

http://www.measuringworth.org/datasets/gold/result.php
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Old 02-19-2010, 11:33 PM   #9
peaceandlove
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Default Re: looking for advice on gold...

Quote:
Originally Posted by sloper View Post
I have decided to believe the gold analysts like Jim Sinclair and Bob Chapman who have both been in the business for around 50 years. Henry Makow is not, in my opinion, qualified at all. Sinclair and Chapman both believe gold is the only way to preserve the value of what you have during the coming devaluation of the US dollar. This could happen later this year or beginning of 2011.

Chapman, who writes The International Forecaster, recommends gold and silver coins, and if you have a lot of money, then buy some mining shares. Bob recommends DISCOUNT GOLD AND SILVER TRADING to buy your coins. Melody Cedarstrom, owner, is an excellent person to talk to. She gives good advice to people who really don't know much about the field. I think the advice you get from her is honest, and she has much experience.

Hope this helps.
Oh you did catch that sloper, right, Bob Chapman does recommend http://www.discountgoldandsilvertrading.net/main.htm
I corrected that in the quote above.

Plus he is interviewed on their Radio Show every Mon, Wed, and Fri: http://www.discountgoldandsilvertrad...Radio_Show.htm
Scroll down to the bottom and if you see Monday Wednesday and Friday highlighted in PURPLE then the show is available as an MP3.

Most recent (today 2/19) radio show:
http://libertyarchives.com/farlive/FS2_FRI.MP3
He's saying today he believes Gold and Silver will be up next week.

He also has an 800 number or you can email him and he will gladly answer any questions for you.

1-800-375-4188
bob@intforecaster.com
His Wednesday and Saturday forecasts here: http://www.theinternationalforecaster.com/

Last edited by peaceandlove; 02-19-2010 at 11:37 PM.
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Old 02-19-2010, 11:39 PM   #10
Jack
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Default Re: looking for advice on gold...

Gold is only really accepted based on its trading value at any time, which in times of crisis with limited life essential resources can be very little.

When times are tough, and theres not much food about, bread will soon become more valuable then a hunk of gold that doesnt taste all too good.

Theres certain foods out there that could become very valuable. This includes Hemp Seeds, which are a highly nutritious, some argue complete, with claims of grown men surviving exclusivly on 1lb of these seeds over two weeks with nothing other then a supply of water. A little goes a long way in other words, with a high protein content and most if not all of the essential life sustaining amino acids we require for day to day living.

Sorry to go off topic with this one, i know your just interested on getting your hands on some gold. Ive talked to people who have great success by buying off reputable dealers on ebay. Its a good investment at the moment, even though it may be fiat to a certain degree, it will still hold subconscious value within the minds of the people and that alone will ensure that it holds its value as well as probably being the new currency (If **** really hit the fan at high speed)
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Old 02-20-2010, 12:11 AM   #11
peaceandlove
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Default Re: looking for advice on gold...

Quote:
Originally Posted by Kulapops View Post
The good thing about gold coin is that it is a highly portable form of wealth (silver not so much so). One oz is currently worth about $1100. and it doesn't rot either.. so if you have a place in mind, you could even bury it somewhere... and it would still be there unchanged, a thousand years later (unless someone sees you put it in the ground !)

P.S. A lot of companies have sprung up in the UK lately trying to get 'junk' gold off people for cash... jewellery etc... so there must be money to be made in buying it somewhere or they would not have appeared.
Blessings Kulapops,

I heard Melody at Discount Gold and Silver say not to bury gold or silver (numismatics) anyway. The moisture is not good for graded coins even if it is in a sealed container. Melody also recommended not to buy graded silver dollars, because of the premiums (buy junk silver coins instead). Someone on this forum recommended hiding gold in the walls behind phony heat vents.

Bless you too sizzleplatter,

Those junk metals companies buying jewelry are not paying anywhere near spot. And they do not consider any diamonds in rings as value. They only pay for the metals price. They roam the flea markets and garage sales offering people low prices for their jewelry when there's a good chance you can sell it for more as jewelry. (Many times the Jewelry Design has a higher value than the metal price.) So yes, if you can buy jewelry like they do at those low prices it is a good way to store wealth. Keep in mind whether it is 8K 10K, 12K, 16K, 18, 21.6K, 22K 23K, 24K...prices being paid will vary. (see bottom of post for links to calculate gold value in jewelry).

You can find those junk metals dealers easily in your area on http://upillar.com/ or http://craigslist.org/. Or you may also find jewelry to buy on those sites too. Usually you look in your general area, that way you will be able to pick it up and see the product for yourself, rather than purchasing at ebay and not knowing if the coins are still graded properly and are free of discoloration (which lowers the value).

Here's a couple websites to calculate jewelry worth in relation to karats:
http://www.midstatesrecycling.com/karat_kalc
http://goldprice.org/buying-gold/200...crap-gold.html

Last edited by peaceandlove; 02-20-2010 at 03:02 AM.
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Old 02-20-2010, 12:25 AM   #12
THE eXchanger
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Default Re: looking for advice on gold...

most people can NOT drill into a bar of gold - to test it
so, right now
with so much 'crap' on the market
- i'd NOT recommend anyone buy that
reputable dealer/or NOT - unless you are very, very careful
(alot of the orient stuff-is clearly, NOT real)
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Old 02-20-2010, 12:54 AM   #13
Northern Boy
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Default Re: looking for advice on gold...

So gold purchase is based on fear then. And anyone buying gold are scared that they might become penniless should the dollar fail.............

HMMM so not to get personal here only those that are scared or allowing fear to dominate them would buy gold . Its just a rock we give value to its no different then paper money except soon that worthless paper will become a valuable bathroom commodity try wiping your but with a gold bar.

After 9-11 one of the first things traders not caught in the towers thought to themsevles was that gold must be going through the roof and it did those in gold doubled their money that day . With all the gold being controlled the way it is there is not enough gold to meet the demand that has been sold . when gold is bought you get a certificate not the actual gold unless you buy coins and then you are overpaying for them
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Old 02-20-2010, 01:15 AM   #14
redtailhawk
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Default Re: looking for advice on gold...

Northwest Territorial Mint is a good place to purchase from. Best investment I ever made!

http://bullion.nwtmint.com/silver_panam.php
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Old 02-20-2010, 04:58 AM   #15
Gnosis5
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Default Re: looking for advice on gold...

Quote:
Originally Posted by gita View Post
This article may be of some help Ė itís a warning about buying gold.

Quote

In case you bought gold to ensure your savings, be careful because the same freemason friend of mine told me gold is just another scam to liquidate middle class wealth. The gold price will raise for a while and when enough middle class people in the West have put enough money in it, you-know-who will crash its price in order to destroy the money trapped in it. My friend told me it could happen this year but anyway during the coming two or max. three years. I don`t know if this is true, but as I myself have bought some gold, I am prepared to react quickly.

Unquote

http://www.henrymakow.com/the_secret...to_greece.html
Your friend is absolutely correct. They do the same with stocks and other commodities. I am what is nicknamed a "TedHead" and learned all about it studying under Ted Warren.

read his book and at best you can ride the coattails of the insiders:
http://www.amazon.ca/How-Make-Stock-Market-Money/dp/1568493576

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Old 02-20-2010, 06:47 AM   #16
Lost soul
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Default Re: looking for advice on gold...

If you must buy gold, buy coins from a reputable dealer like Kitco or Apmex. don't buy bullion (bars).
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Old 02-20-2010, 09:37 AM   #17
justpeter
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Default Re: looking for advice on gold...

I've been buying gold and silver for about 9 or 10 years now after being a subscriber to Bob Chapman's newsletters. In that time gold has about quadrupled in value.

For the last couple of years I've been selling some of my gold because I needed the money, so it's been a great investment for me.

I know a company in the UK that pays about 95% of the spot price for scrap gold but I don't know if it's ok to advertise them here. Anyway, it just seems to me that there's a lot of guff talked about gold so I thought I'd share some of my experience with it.

I've bought most of my gold on ebay although I did buy some krugerrands from a dealer some years ago at about 10% above spot price. I'm sure I don't need to point out that buying gold from a high street store isn't a good idea in terms of investment. You'll pay about 10 times its real value so you'll never get your money back.

I've bought gold coins such as sovereigns on ebay at spot price or less. I've also bought various gold items if they were a bargain - rings, ingots etc. It's all a matter of spending time to get to know what's available but obviously I wouldn't buy gold from a foreign country and I would make sure I knew what I was buying was genuine. In 9 or 10 years of buying gold and silver on ebay I've never been ripped-off. Never.

Many sellers of gold and silver on ebay don't have a clue. They will advertise their item without saying how much it weighs, so obviously you don't know what it's worth and neither do they. Most buyers ignore these items but I will ask the seller to tell me the weight. Many times I'm the only potential buyer who knows what the item is worth and I can get a real bargain. The seller is happy with the price they get and I'm happy to pay it. The bargain I get is my reward for having spent the time and effort to get to know the marketplace.

The same principles apply to silver. There are lots of silver items on ebay - coins, ingots, medallions, cigarette cases etc etc. I pretty much know this market inside out and back to front but it's getting harder to find a bargain these days as people seem to be more aware of the value of gold and silver these days.

Yes, it would be nice to live in a world where money didn't matter and we could spend our time on more spiritually useful matters than making money but until we get there I think it may be wise to have a bit of gold and/or silver in case we need it. As I said, I've already found it to be useful to me.

Last edited by justpeter; 02-20-2010 at 09:43 AM.
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Old 02-20-2010, 12:06 PM   #18
gita
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Default Re: looking for advice on gold...

Quote:
Originally Posted by Gnosis5 View Post
Your friend is absolutely correct. They do the same with stocks and other commodities. I am what is nicknamed a "TedHead" and learned all about it studying under Ted Warren.

read his book and at best you can ride the coattails of the insiders:
http://www.amazon.ca/How-Make-Stock-Market-Money/dp/1568493576

Hi Gnosis5. Thank you for the link. Just one correction, I was quoting an article and I do not know this person but from what I know of the mindset of these people, it did make perfect sense to me. They seem to have covered all the moves that people will make especially when it comes to finances. Iíve come to a conclusion now that the most important goods we can have is food and water Ė and of course lets not forget the toilet rolls as they make great bargaining especially with females.
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Old 02-21-2010, 03:12 AM   #19
Gnosis5
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Default Re: looking for advice on gold...

Yes, a retired Marine told me the same thing. Although I think softened, crumpled newpaper is okay too, and in Africa out in the countryside we used large soft velvety leaves
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Old 02-21-2010, 09:10 AM   #20
justpeter
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Default Re: looking for advice on gold...

Hi Gnosis5, I'm starting to think you must be my alter-ego. We've got the Scientology connection and now Ted Warren. I got "How To Make The Stock Market Make Money For You" in about 1993 from the Ken Roberts Company.

Since then I've moved on to look at Elliott Waves, Gann Techniques, Fibonacci and even sacred geometry but sometimes I think the old-timers had the simplest and best solutions to trading the markets
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Old 02-21-2010, 09:13 AM   #21
Gnosis5
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Default Re: looking for advice on gold...

Two altered egos passing through the night

Yes, learned about it from Randy Raddatz in Glendale, California. He was an SHSBC graduate too. I assume you check the insider info on Edgar.com.

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Old 02-21-2010, 09:29 AM   #22
Kundaflower
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Default Re: looking for advice on gold...

Dear sizzleplatter,

Why you wanna buy some gold?
Are you just wealthy person with extra money or human in survival mode?
That defines how to answer you....

Peace
kf
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