The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: mak1277 on December 03, 2014, 03:16:18 PM
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Hey all. Just to be clear, I'm not asking for advice on whether or not I should have physical gold in my portfolio. I have decided that I do want a small amount. In the past, I have bought bullion coins from coin shows, but I'm wondering what the most cost efficient way is to add to this.
Thanks.
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Last time I bought precious metals, I used www.apmex.com and was quite happy.
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We buy through a small local dealer. We pay a "buyer's premium" on each coin BUT we know what we are getting and he's very trustworthy. He's in ill health now and I dread losing him as he's a font of information on precious metals as well as precious stones.
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Last time I bought precious metals, I used www.apmex.com and was quite happy.
Good tip. Did you shop around to find the best commission/spread?
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Kinda yes, because I was really into PMs at the time and frequented a lot of forums about them, etc, so I pretty much was familiar with a lot of options and knew which ones were good and not, by asking advice from other people that were even MORE into them than I. :)
But kinda no, because the spreads are so tight on bullion that as long as you aren't getting ripped off, you are fine and can't really get the price that much lower by shopping around further. Now, numismatics are another matter... but I never believed in buying numismatics, only bullion. If you buy something like say, Krugerrands, the price is gonna be pretty damn close to spot. Or if you buy like generic silver rounds/bars, same thing it's basically spot you're buying at (maybe a hair over).
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I like collecting a few silver coins per year from various countries and mints. I like www.gainesvillecoins.com, they are more than just bullion sales, and have collectors coins and often have older collectable coins.
The thing I liked is that packages are discretely labeled, from a variety of fake 'hardware' companies. So small but heavy packages appear to be plumbing and vehicle parts. By default if you are not home for delivery, they are taken back to the post office for secure pickup.
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jmbullion.com has great prices and free shipping even on small orders. I have also used providentmetals.com in the past with great success. After the hammering PM's took over the past 2 years now is not a bad entry point.
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coloradogold.com sometimes has specials, and their spread isn't bad. I think goldmart.com also had low spreads.
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Et tu, Kriegsspiel?
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Et tu, Kriegsspiel?
Is that how the french say it? I just pronounce it "Kriegsspiel two" now. Sometimes "KS two."
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After the hammering PM's took over the past 2 years now is not a bad entry point.
It could be a really bad entry point. Once the Fed starts to raise interest rates, PM's may have another leg down.
As for where to buy PM's, you could also try e-bay and potentially score some deals.