10 Commandments for buying Gold & Silver

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BigJim said:
Probably been posted before.

Ten Commandments for Buying Gold and Silver — The Moneychanger

The Moneychanger's essential how-to guide for getting started investing in gold and silver, plus suggestions for starter portfolios.
the-moneychanger.com the-moneychanger.com
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Even if it has been posted before, it doesn't hurt seeing it again. Eyes that missed it before may see it this time and learn something.
Mr. Sanders has been around a long time and has a wealth of information.
Thanks for posting.
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Never swap bullion coins for U.S. $20 gold pieces
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I would say wrong! If I can trade some grams of gold of a bullion coin for an equal grams grams of gold in a minted old coin, I would be glad to do it. The minted coin will have a bit of silver in it, too. And it will be ready to carry in the pocket, which can give great happiness to the owner. So my answer is: WRONG! Any time you can trade gold bullion for the same amount of gold in minted coins, do it with happiness in your heart.
 
BigJim said:
Probably been posted before.

Ten Commandments for Buying Gold and Silver — The Moneychanger

The Moneychanger's essential how-to guide for getting started investing in gold and silver, plus suggestions for starter portfolios.
the-moneychanger.com the-moneychanger.com
Click to expand...
I don't know how many years they have had that on their site....and how many times I have referred people to it....its great fundamentals for all pm buyers imo and should be a sticky.....thx for the reminder sir
 
Hummmmm....

Purity is largely irrelevant among gold and silver dealers. Coins and bars are bought and sold based on their weight, not their purity. Unless you’re going to melt the coins down, it’s just not an issue and doesn’t affect the price.
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I do not agree with this statement.
999 purity in gold coins is important in asian countries.

BF
 
From the link in the op:

Never buy premium if you can avoid it.

This fits right in.

Man Loses $58,000 In Silver Investment! How To Avoid His Mistake!​

Feb 11, 2023


13:53
 

How To Avoid SCAMS When Buying Gold And Silver​

Jun 16, 2023

14:56
 
Haven't seen it before, but the advice seems to sound and worthwhile following.

I'm in.

Wondering why commandment IX is included. Anyone willing to explain the reasoning behind this and why is it pertinent.

Thanks in advance.
 
walkingnam said:
Haven't seen it before, but the advice seems to sound and worthwhile following.

I'm in.

Wondering why commandment IX is included. Anyone willing to explain the reasoning behind this and why is it pertinent.

Thanks in advance.
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i dont know how long that list has been posted but i know for at least 15yrs ........seems like 20yrs ago pre33gold actually traded at a discount to 1oz bullion coins so i suppose thats the reason, but its the only thing on the list i find to be suspect advice
 
walkingnam said:
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Wondering why commandment IX is included. Anyone willing to explain the reasoning behind this and why is it pertinent.
...
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Ttazzman said:
i dont know how long that list has been posted but i know for at least 15yrs ........seems like 20yrs ago pre33gold actually traded at a discount to 1oz bullion coins so i suppose thats the reason, but its the only thing on the list i find to be suspect advice
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I believe @Ttazzman is correct. If you scroll down the page a bit, you will find this:
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Why do you recommend gold coins like Krugerrands, Austrian 100 Coronaes, and Mexican 50 Pesos, and what are they?

We recommend these foreign coins because they cost less per ounce and give you more gold for your money than the American Eagle gold coin series (which is minted in the United States today). All of these coins are well known in the industry and any dealer will readily buy them. The 22 karat South African Krugerrand gold coin contains exactly one troy ounce of fine (pure) gold. The American Eagle copied the Krugerrand’s specifications, and is minted to exactly the same weight and fineness. The Austrian 100 Coronae is an official re-strike from the Austrian mint. It is 20 karat (90% pure) and contains exactly 0.9802 troy ounce fine gold. The Mexican 50 Peso is an official re-strike from the 400-year old Mexico City mint. A 20 karat coin, it contains exactly 1.2057 troy ounce of fine gold. These three coins take turns as the cheapest on our price sheet.
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Rule #13:
Do not buy gold from a drunk Mexican in a Home Depot parking lot.
 
nickndfl said:
Rule #13:
Do not buy gold from a drunk Mexican in a Home Depot parking lot.
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LOL....i have bought metals from a contractor in a walmart parking lot...........and a farmer in a Bass Pro Parking lot ........i dont think a Mexican at home depot would bother me much LOL
 
BigJim said:
Probably been posted before.

Ten Commandments for Buying Gold and Silver — The Moneychanger

The Moneychanger's essential how-to guide for getting started investing in gold and silver, plus suggestions for starter portfolios.
the-moneychanger.com the-moneychanger.com
Click to expand...
It seems to me that these are 10 Commandments for Buying Gold and Silver and keep them home, how about some rules for buying PM and let them store.
I know the If-you-don't-touch-it saying but not every stacker chooses to keep all his metals at home.
 
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He is no doubt right but I do buy, I guess he would call premium stuff, like Libertys, Maples, Britannias, and .9999 bars, but only when they are on sale and/or at a good price. I want an interesting stack as well as a good valued one. I also buy the occasional art piece because my wife is an artist and loves them, and again, as long as the premiums aren't to crazy.

I like art too and silver is such a beautiful canvass to work on. I especially love the stuff from the Germania mint. The Germans are real metal craftsmen for sure.
 
I generally find that I am never sorry when buying bullion coins at or below spot no matter the price.
 
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