Buying physicals...

[Smart Money]

Quote from denner:

Man, you couldn't pay me enough to try and buy gold off of Craigslist. There have been enough problems with people just trying to sell used furniture let alone metals.

Home invasions are a very real concern I believe for many gold and silver holders/hoarders if the current trajectory continues for awhile longer. Not altogether unlike all the theft of copper, but just wait until the crooks start targeting people who are known to have precious metals.

I'd be worried that they get their hands on customer lists from those various dealers and find their targets.

Can you see how third world all of this is becoming?

(Edit: I should also mention that if the doomsday scenario were to unfold and metals holders start actually paying for everyday goods with their product, you can bet that an underground network will figure out real quickly who has a stash).

Whats the big deal? Your ad is anonymous. You buy in a public place with cash on a first name basis after testing it. You keep it in a safe deposit box. Do you keep all your cash in your house, or just some of it in your house and most in the bank? You could run a safety deposit box stash the same way...take out only what you need. Whether you buy it through the mail or whatever, I hope you keep it in a safe deposit box anyway.

And you need to know that any purchases you make over a certain size from a "reputable" source will soon be reported to the "people in charge" who can later decide they want to confiscate your gold. But that doesn't have to happen with a Craigslist purchase.

Lastly, focus on old, low-grade U.S. or even foreign gold coins. Hard(er) to fake than jewelry, the weight is well documented, and last time privately held gold was outlawed, numismatic gold was granted an exemption.

SM

 

[peilthetraveler]

Quote from Smart Money:

Whats the big deal? Your ad is anonymous. You buy in a public place with cash on a first name basis after testing it. You keep it in a safe deposit box. Do you keep all your cash in your house, or just some of it in your house and most in the bank? You could run a safety deposit box stash the same way...take out only what you need. Whether you buy it through the mail or whatever, I hope you keep it in a safe deposit box anyway.

And you need to know that any purchases you make over a certain size from a "reputable" source will soon be reported to the "people in charge" who can later decide they want to confiscate your gold. But that doesn't have to happen with a Craigslist purchase.

Lastly, focus on old, low-grade U.S. or even foreign gold coins. Hard(er) to fake than jewelry, the weight is well documented, and last time privately held gold was outlawed, numismatic gold was granted an exemption.

SM

I would not take that risk unless you know what you are doing. Ask any gold/silver dealer how many times per day someone tries to pull a scam on him and thats why you shouldnt buy on craigslist.

 

[number22]

Quote from blobmorse:

If you want to buy gold, going through a dealer for small amounts will cost a premium. If I wanted to be long GOLD, I'd buy a futures contract. If I wanted to take delivery of gold, I would not roll the contract in the futures market, I would take delivery. You can buy gold this way in many sizes.

http://www.cmegroup.com/trading/metals/goldfutures/product-suite.html

Tell me which broker you are using to take delivery, I am using IB, which don't do delivery. what is shipping cost for micro-lot?

People in Canada are paying very high premium over spot, and there is no currency advantage what so ever, (Even thought Canadian dollar worth much more than US dollar now.)

My local dealer don't have any American Eagle un-circulated coins, proofed selling about $90.