I have a question about gold

[Raineyrocks]

I don't know if this is the right thread to ask this question but here goes.

What are the best gold coins to buy?  Should the coins be uncirculated and what years are good?  Can't certain kinds of silver and gold be confiscated by the government?
I don't want to buy 1 oz coins, I was mainly interested in .25 or .50 coins.

I saw this:    
British Sovereign Gold Coin .2354 Actual (0.24 oz.)     $207.46 at http://www.bulliondirect.com/catalog/selectProducts.do?category=3.  Do you think that is a good price and good coin?

[Dave Ridley]

i think cheapest is best... so that you are paying only for gold content rather than some complex antique or rarity value.

that usually means Rand one ouncers...which are usually available at around 2% over spot price.
British sovereigns are fairly cheap...small, but usually around 6% over spot. 

The more you buy the better the price usually. 

what counts is mostly gold content, not condition.   

Gold was confiscated by the govt in the 30s and holding it remained largely illegal until 1972.  Silver was not confiscated. Some have speculated this time they'll do the opposite.

The French Republican govt. of the 1790s roughly, is said to have established a death penalty for trading in gold, but folks continued to use it.  Not sure if that's true or not.

This government I'd give it a 40 percent chance they'll try to confiscate/nationalize gold or silver at some point during the coming crisis.   
If history is any guide, they'll give people a chance to sell their gold before just nationilizing it.  The FDR government bought gold from the citizens...and then raised the price when citizens failed to sell.

By and large, what has happened before will probably happen again.   We will have another 1979, or another 1929, or another 1894... or most likely a mix of all three with more violence thrown in, perhaps with gold peaking out around 2011 at around $3,500 an ounce.  Then it crashes but general recovery takes another 3 to 6 years.   Some sort of major military or civil conflict would probably occur....and there would be some sort of scapegoat for all the troubles.

[Raineyrocks]

i think cheapest is best... so that you are paying only for gold content rather than some complex antique or rarity value.

that usually means Rand one ouncers...which are usually available at around 2% over spot price.
British sovereigns are fairly cheap...small, but usually around 6% over spot. 

The more you buy the better the price usually. 

what counts is mostly gold content, not condition.   

Gold was confiscated by the govt in the 30s and holding it remained largely illegal until 1972.  Silver was not confiscated. Some have speculated this time they'll do the opposite.

The French Republican govt. of the 1790s roughly, is said to have established a death penalty for trading in gold, but folks continued to use it.  Not sure if that's true or not.

This government I'd give it a 40 percent chance they'll try to confiscate/nationalize gold or silver at some point during the coming crisis.   
If history is any guide, they'll give people a chance to sell their gold before just nationilizing it.  The FDR government bought gold from the citizens...and then raised the price when citizens failed to sell.

By and large, what has happened before will probably happen again.   We will have another 1979, or another 1929, or another 1894... or most likely a mix of all three with more violence thrown in, perhaps with gold peaking out around 2011 at around $3,500 an ounce.  Then it crashes but general recovery takes another 3 to 6 years.   Some sort of major military or civil conflict would probably occur....and there would be some sort of scapegoat for all the troubles.

Thanks Dada!   Do you sell gold or could you recommend a reputable seller for either silver or gold?

[penguins4me]

Just a thought, since Dada's post contains, IMHO, the best advice for us normal joes in regards to purchasing gold:

Gold (and silver) can't be eaten. It takes quite a lot to fashion shelter out of, and throwing it at villains only tends to encourage the villains.

If water, shelter, food, and security (aka guns and plenty of ammo) are taken care of, then if someone expects a government collapse or massive inflation, then precious metals might be a good place to store wealth in an attempt to escape the consequences of a fiat currency disaster.

While it seems unlikely the Fed (central bank) will deflate the US dollar (remove money from the economy, rather than continuing to print it hand over fist), if they do so, the relative value of gold in relation to the dollar will collapse. With a severely deflated dollar, those that have a mattress stuffed with cash will likely be better off if people are selling what they want to buy (though the same problem applies to gold, too); there's no guarantee of a safe place to stash wealth... so, again, essentials should come first.

As for a precious metals dealer, my personal experience has been that APMEX.com is a good place to buy from if you can't find a place locally (to save on shipping and insurance charges).

[shuvom]

Guys, my two cents, (and I just replied to Rochelle's post the same way):

The best local place I've found to buy Rands or other bullion coins- Bob's Coin Shop on 378 Kelley St on the west side of Manch.  669-7775.

Open 9-5 M-F, 9-12 on Sat.

Always has gold bullion (Rands, eagles) in stock, and I talked a little Ron Paul with the guy (Bob) last time I was there, he's seems to be a supporter.  It would help to have some more Free Staters go by there, talk up FSP and Ron Paul some more.

I like it because I get the coin instantly in my hands, with no shipping charges!  Fair prices.

Shuvom

[jaqeboy]

I saw this:    
British Sovereign Gold Coin .2354 Actual (0.24 oz.)     $207.46 at http://www.bulliondirect.com/catalog/selectProducts.do?category=3.  Do you think that is a good price and good coin?

The Sovereign is about the best coin going for size and the huge amount of them minted with a lot of them being in circulated condition, so they won't have any numismatic value at all, hence about the lowest premium around. Since they are smaller, you can afford to buy a onesie easier. Some 16 billion have been minted around the world, including in Canada, South Africa, India, Australia, and IIRC, other locations.

Good history article on British coinage: http://www.australianstamp.com/coin-web/history/sovhist.htm

another from some Sovereign experts: http://www.goldsovereigns.co.uk/information.html

I like even smaller coins, like [ur=http://www.taxfreegold.co.uk/austrianducatsinfo.htmll]Austrian ducats[/url] (.111... oz.Troy).

I'd like to see a lot of circulation of the 1/20 oz.Troy pieces from Canada, Australia, Southern Mariana Islands and China, but premiums are still pretty high on the 1/20ths.

[Raineyrocks]

Thanks for the advice everybody!

[PowerPenguin]

Another option is to own gold digitally, though a service like BullionVault, which has low fees and provides secure domestic or offshore storage. Personally, the majority of my metals are owned by myself physically, but it's nice to have an easy way to buy/sell/trade with others around the world quickly/cheaply when necessary.

[Raineyrocks]

Another option is to own gold digitally, though a service like BullionVault, which has low fees and provides secure domestic or offshore storage. Personally, the majority of my metals are owned by myself physically, but it's nice to have an easy way to buy/sell/trade with others around the world quickly/cheaply when necessary.

I've heard about digital e-gold before but how do you know your not getting ripped off?  What if computers crash?  Those have been my 2 questions about digital gold. 
I would like to have it in my hands or I feel like I don't really have it.    What if it's just some fake company or something and they are taking your money?

[Raineyrocks]

Another option is to own gold digitally, though a service like BullionVault, which has low fees and provides secure domestic or offshore storage. Personally, the majority of my metals are owned by myself physically, but it's nice to have an easy way to buy/sell/trade with others around the world quickly/cheaply when necessary.

I've heard about digital e-gold before but how do you know your not getting ripped off?  What if computers crash?  Those have been my 2 questions about digital gold. 
I would like to have it in my hands or I feel like I don't really have it.    What if it's just some fake company or something and they are taking your money?

A greater danger is that the US govt will confiscate your account.  They have already done it to e-gold.
Of course, you can avoid this by using a service such as e-dinar, that is based in one (or more) foreign countries that are less likely than others to go along with it.   

Isn't dinar Iraqi currency?  I have the book Surviving Terrorism by Jarret Wollstein and he suggested splitting up your assets in different countries too.  It's a pretty informative book, I'm pretty sure he gives links in there too if anyone wants me to look anything up in it, I will.

[kola]

i think wtshtf food water and shelter will be priceless.

and those luxuries like: coffee toilet paper chocolate etc

KOla

[Raineyrocks]

A greater danger is that the US govt will confiscate your account.  They have already done it to e-gold.
Of course, you can avoid this by using a service such as e-dinar, that is based in one (or more) foreign countries that are less likely than others to go along with it.   

Isn't dinar Iraqi currency?  I have the book Surviving Terrorism by Jarret Wollstein and he suggested splitting up your assets in different countries too.  It's a pretty informative book, I'm pretty sure he gives links in there too if anyone wants me to look anything up in it, I will.

Its the traditional Islamic gold coin, and some countries also call their currency the dinar.  The Islamic silver coin is the dirham.  There is now an 'Islamic Mint' that is trying to reinvigorate the idea of Muslims using gold and silver, rather than paper fiat 'currency' (which I guess is actually prohibited under Islamic Law).   

Oh, okay, thanks!

[Raineyrocks]

i think wtshtf food water and shelter will be priceless.

and those luxuries like: coffee toilet paper chocolate etc

KOla

Definitely!  Even feminine products and cigarettes.

[kola]

yup rainey.

and don't forget booze and weed.

first aid stuff and diapers too.

Kola

[Raineyrocks]

yup rainey.

and don't forget booze and weed.

first aid stuff and diapers too.

Kola

Booze and weed to barter with, I don't think so!