Gold...bling bling.
 

Just curious as to how many of our resident investors are loading up on PHYSICAL gold? I sold off most of my current holdings and dumped a ton of money into gold. Bought 2 one kilo bars and 10 1oz plates. With the economy the way it is now, and the government printing money like it's going out of style, I am looking to make a nice profit. Hell, I am already up more than what's considered a "good investment" on wall street. Just curious if any of you guys jumped on that ship too....

even though i dumped a bunch of Silver Coins at $19.5 four or five months ago, i've been accumulating smaller gold eagles (1/10, 1/4's) on a regular basis.

So you bought over $100,000 in physical gold? Where does one store $100,000 in physical gold??

I view the evidence that average people are buying and hording physical gold as a strong contrarian indicator.

Andrew

[QUOTE=aklucsarits,Nov 2 2010, 09:09 AM]So you bought over $100,000 in physical gold? Where does one store

^^^ The physical size of the gold was not my concern. It's the logistics of the transaction and storage that interests me. I'm assuming you would have to rent a safe deposit box or something as you would be insane to opt to store $100,000+ of gold in your home...

So you go to your precious metals broker and buy 2 $50,000 gold bars. What do you do next?

Do you take delivery of it on the spot and drive around with $100,000 in gold in the car with you until you get to your safe deposit box at the bank?

Does the broker offer you some secure delivery option to your bank?

Does the broker offer you some storage service for a fee?

Andrew

Call me crazy, but if you're buying $100k worth of gold, best place for "storage" is somewhere safe at your house (think tin box and dig a hole). If you're buying physical gold (in large dollar amounts), it kind of defeats the purpose to leave it at the bank.. Also, be sure to have lead to protect it. Gold without lead = no more gold (if someone finds out about it). :D It goes without saying, but you obviously don't tell anyone you have it..

You're crazy.

;)

:iagree:

Gold may not have a bursting bubble ahead, but certainly appreciation will come to a halt. The long run Real return for gold is zero.

Safe deposit box in Chase's main branch. Vault looks like a nuclear bunker. :LOL:

Bought my gold from Apmex.com

It arrives fully insured with USPS. Then, like your said, drive to your bank and stick it in the box. Gold is extremely dense, so it's not like you are carrying around a briefcase, it's not very large (well, what I have anyway.) I also recommend to others than you never dump ALL your money into a large gold bar. If you want a kilo, fine, but own a few 1oz or even 5oz for a rainy day. If you want to sell some of it off, with a kilo bar, you are stuck with selling the whole thing, and if you sell it to your bank, the IRS will know about it. 1oz is still the best way to go for quick dumps.

I've been buying gold for a VERY long time, but now started to buy some real weight. I've had a few dozen Krugerrands in my family for quite some time, just adding to the collection.

therookie: Why are you buying American Eagles? Just curious? a 2010 eagle (1oz) is about $30 more than 1oz Pamp Suisse bar for the same weight. Sure, in 60 years, MAYBE it will have some additional coin value, but until then, I just never saw the point. Hell, my Pamp Suisse bars (which came sealed with an assay card) are $30 less than the same weight Credit Suisse bars, and I don't understand why. Hell, even the RCM bars are less.