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How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 6:36 am
by thecrazyone
What do I buy? Coins? Pawn jewelry? Ingots? Troy oz mini bars? What reputable ebay sellers are out there?

Thanks in advance.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 6:56 am
by shinnosuke
I recommend the market place on Realcent: viewforum.php?f=28

You can also use https://comparegoldprices.com/ to find lowest prices.

My preference is the Canadian maple leaf due to lower cost than American eagles along with a higher purity and a higher face value.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:19 am
by reddirtcoins
you are buying into a frenzy and maybe a collapse.. which is one of the worst times to buy but buy none the less so be very careful.
(gold=wealth, silver=paying your bills) don't think of it as investing, it is not.
focus on buying bullion and do not buy because of greed.
buy for long term stacking and search for the best deals you can get. at this point 10 ounce bars appear to be the best bang for the buck on silver
if you do buy junk pay close attention to the melt price.
also in my opinion by the time you do buy silver the major part of the GSR dip may have already happened so pay close attention when making your mind up between gold or silver

start building a network of like minded people and cherry pick them for deals. don't brag and talk too openly, just build the network of people and grow it over the years.. everyone at times will dump fast and offer good deals.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:34 am
by blackrabbit
The website Bullion Stacker has a good amount of buying and selling for what is often better deals than any business.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:44 am
by AdamsSamoa
I started with a gram a payday... then moved to 1/10 OZs....

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:51 am
by thecrazyone
Thanks very much to all of you for the quick replies- I looked at the marketplace and maybe it's bc it's new to me, but I was only seeing silver items.

I'm definitely not in this for the LOOK AT ME type scenario, so I definitely won't be bragging about it. I'm looking for a plan B for my family and I if our economy decides to take a worse dump than it already has. Every time I see an update about the National Debt, I'm like, we're screwed..

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:51 am
by thecrazyone
AdamsSamoa wrote:I started with a gram a payday... then moved to 1/10 OZs....


Thank you for this. Was you gram bought here? Online? Elsewhere?

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:52 am
by thecrazyone
shinnosuke wrote:I recommend the market place on Realcent: viewforum.php?f=28

You can also use https://comparegoldprices.com/ to find lowest prices.

My preference is the Canadian maple leaf due to lower cost than American eagles along with a higher purity and a higher face value.


Thanks for this- are the maple leafs purchased online? At your local bank? Other?

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:59 am
by Lemon Thrower
Maple leafs are a solid recommendation, but they are full once and carry a premium.

When someone above said bullion, they mean something where the weight and purity is certified, unlike scrap jewelry.

British sovereigns, french roosters, and swiss francs fit that bill. Circulated, you can often get them at spot or below, and they come in smaller sizes. A sovereign is .23 ounces, and there are half sovereigns. Someone will correct me but the french and swiss francs are roughly .20, and there are half sizes available too. of course circulated it loses some gold, which is why they are available below spot often, but you can weigh them to see what you are getting.

When you go to sell, reputable dealers know these coins and will pay you what they are worth.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 7:59 am
by AdamsSamoa
Thank you for this. Was you gram bought here? Online? Elsewhere? All on line... and I also play Raffles for them on face book.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 8:21 am
by 68Camaro
thecrazyone wrote:What do I buy? Coins? Pawn jewelry? Ingots? Troy oz mini bars? What reputable ebay sellers are out there?

Thanks in advance.


I just sent a reminder to one of our members known for producing gram products in both silver and gold. Maybe he will restart production.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 9:39 am
by thecrazyone
I see goldeneaglecoin.com sells 1 gram bars. Are they reputable? Has anyone here bought from them?

Are there other recommended sources already selling them that realcent users have bought from prior?

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 9:45 am
by JJM
I'm of the mind that the last 20 years (or so) was the time to stack gold. If you want to obtain gold, buy silver now and trade it for gold when the gold to silver ratio is 40:1 (or less). YMMV of course....

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 9:54 am
by thecrazyone

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 12:43 pm
by Lemon Thrower
Grams - these usually have high premiums and are made by lesser known mints.

JJM - silver trade - that is a very viable idea but I would start trading silver for gold at 60-55 on the GSR. Not sure we get to 40. Junk silver in $5 or $10 rolls should be in your budget and are very liquid when you go to sell or trade. Also, the GSR is very extended now where gold is expensive and silver is cheap, which is just another way to say JJM's idea is a good one.

Re: How to start small investing in gold?

PostPosted: Wed Aug 05, 2020 12:51 pm
by thecrazyone
Thank you. At the end of the day, I'm just trying to have a backup plan right now, in the event that our economy gets run into the ground. :(

Re: How to start small investing in gold?

PostPosted: Thu Aug 06, 2020 7:28 am
by thecrazyone
So I have taken the plunge, and made a purchase :) I now get to walk among you all with my first stacker :D

Re: How to start small investing in gold?

PostPosted: Thu Aug 06, 2020 3:27 pm
by shinnosuke
thecrazyone wrote:So I have taken the plunge, and made a purchase :) I now get to walk among you all with my first stacker :D


Congrats! Happy purchase and many more.

Re: How to start small investing in gold?

PostPosted: Thu Aug 06, 2020 5:14 pm
by 68Camaro
thecrazyone wrote:Thank you. At the end of the day, I'm just trying to have a backup plan right now, in the event that our economy gets run into the ground. :(


You remind me of myself 10 years ago. I was late to the party at the time and learning as I was going so I didn't buy as much as I should have in the early run up and as the crisis of the time developed I ended up having to buy too much later at higher prices. As for you, better now than later.

In 2010-2011 I wasn't sure we weren't about to crash, and while I wasn't defenseless I wasn't fully prepared for it. So as I became more sure of myself I bought what I could afford and I paid some steep prices for some of it. In the intervening years, still filled with the same relentless conviction that the world can't print money forever, I did my best to undo some of my high value purchases by persisting in purchases at lower prices, dollar cost averaging my expenses down to a more reasonable (given that we hadn't collapsed) average cost. The recent run up has made me fully above water in dollar terms in all my categories for the first time ever - which is a good feeling.

However, while conscious of dollar prices, I have joined others in maintaining that my savings are not actually measured in dollars but in ounces. The dollar does not satisfy the requirements to be called money - the FRN is a debt instrument. It is gold and silver that have satisfied all the requirements to be considered money, for their entire multi-thousand year history of use in human transactions.

Re: How to start small investing in gold?

PostPosted: Thu Aug 06, 2020 5:30 pm
by slvrbck
Just be careful my friend. The goal of any investing is to buy low and sell high. I’m not saying gold is a bad idea but it’s literally pennies away from the most expensive it has EVER been over $2,000/OUNCE. Please at least consider copper in any form. It’s literally less than $3 away per POUND from the cheapest it has EVER been.

Re: How to start small investing in gold?

PostPosted: Thu Aug 06, 2020 5:38 pm
by thecrazyone
slvrbck wrote:Just be careful my friend. The goal of any investing is to buy low and sell high. I’m not saying gold is a bad idea but it’s literally pennies away from the most expensive it has EVER been over $2,000/OUNCE. Please at least consider copper in any form. It’s literally less than $3 away per POUND from the cheapest it has EVER been.


Thanks! I'm still saving my copper pennies :D

Re: How to start small investing in gold?

PostPosted: Fri Aug 07, 2020 6:12 am
by 68Camaro
thecrazyone wrote:
slvrbck wrote:Just be careful my friend. The goal of any investing is to buy low and sell high. I’m not saying gold is a bad idea but it’s literally pennies away from the most expensive it has EVER been over $2,000/OUNCE. Please at least consider copper in any form. It’s literally less than $3 away per POUND from the cheapest it has EVER been.


Thanks! I'm still saving my copper pennies :D


Copper cents are - in part - how I found RC in 2010. And I still have my ryedale sorter, coin counter, and the other paraphernalia I accumulated relative to sorting copper. But for most of us copper can only be a partial solution. Do the math. How much copper (weight, volume) can you tolerate storing? Copper storage has a limit. Everyone on RC who had a large hoard and had to move will tell you the struggles they went through - and many of them ended up dumping part or all of their hoard so they wouldn't have to move it.

Even silver has its limits.

Gold is the ultimate solution for transportable wealth, but its issue can be that it is TOO valuable, and is difficult to use for small transactions.

That's why coinage over history has always been a mix of copper, silver, and gold. Recommend everyone maintain that same diversity.

Re: How to start small investing in gold?

PostPosted: Fri Aug 07, 2020 6:27 am
by IdahoCopper
thecrazyone wrote:
slvrbck wrote:Just be careful my friend. The goal of any investing is to buy low and sell high. I’m not saying gold is a bad idea but it’s literally pennies away from the most expensive it has EVER been over $2,000/OUNCE. Please at least consider copper in any form. It’s literally less than $3 away per POUND from the cheapest it has EVER been.


Thanks! I'm still saving my copper pennies :D



If you want to invest in a Rydale penny sorter, PM me.

Re: How to start small investing in gold?

PostPosted: Fri Aug 07, 2020 7:24 am
by Recyclersteve
Another way to buy gold cheaply and without a significant markup is to do it in the stock market. The gold Exchange Traded Fund has the symbol GLD. One share of GLD is a little less than 1/10 oz. of gold. But you can now buy fractional shares at places like Schwab, Fidelity and Robinhood.

So 1/100 share of GLD costs only $1.93. Many places have zero commissions when you buy and sell.

You’ll have to check with the various brokers to see what their minimums are for opening accounts. In some cases the minimums will be very small.

I can’t imagine a less expensive way to own gold. Now you don’t have physical gold. But if I want to invest in gold with less than a $5 bill, this is a method that should be given strong consideration.

Re: How to start small investing in gold?

PostPosted: Fri Aug 07, 2020 7:53 am
by 68Camaro
And back to the OP, most precious metal gurus would argue 1) that buying physical gold isn't "investment" but rather wealth protection, and 2) remind of the maxim that "if you don't hold it you don't own it".

If you want to "own" gold and silver ETFs I would suggest funds that are 100% backed by physical metal such as PHYS and PSLV. GLD and SLV are leveraged and in my view not places I want to put my resources.