Loading ...Buying and storing PMS?
Admin – please delete if not allowed. I am trying to steer as many people as I can to PMs and want to help them with resources from trusted patrons – like here on the tent. Any recommendations for where they can purchase and store PMs? Thanks
This is a great project GLG !
Thx – I want to make it as easy for them as possible – and they do trust me..
Yes. I am finally ready to be a stacker. I welcome any suggestions as to who to use to purchase and take delivery of gold and silver coins.
GLG, While buying actual physical and storing it with a trusted provider is fine, consider using CEF, PSLV and PHYS as either a substitute and or in addition to. Can keep a portion in a safe liquid form while the portion you plan to hold longer term can be in physical with a trustee where you will pay storage fees.
Brilliant – had forgotten about those – thanks for the reminder!!
JM Bullion, APMEX and Money Metals Exchange are reputable dealers. Shop for best deals although a buck difference won’t matter much. You are buying insurance that could be priceless.
When buying silver consider a bag of junk silver – small silver content coins, pre 1964 in halves, quarters and dimes. Much more easily spendable, so you get the inflation protection of the metal and spending protection when we get into the unavoidable depression.
Here in the US, I have used Provident Metals, JM Bullion and APMEX all with good results for buying physical. They used to have free shipping on orders over $99, now it’s $199. I have also sold back to one of them in the past when I choose to liquidate some metal. I have decided that buying miners is easier, so SILJ is my go to for (leveraged) exposure to the price of gold and silver.
Those are my OPINIONS, and I am not accountable in any way, shape or form.
When I was stacking, I’d make a small buy from an individual on eBay, then connect with them directly to avoid the 11% fee eBay charges and buy direct. Did the same when selling. Took some effort but it worked!
GLG, I use KITCO for physical metal. They deal with US, Canada, and overseas markets.
You can either take physical possession or arrange to store the metal with KITCO.
It is best to avoid overpriced collectables. In silver I like Silver rounds (eg buffalos), Maples or Eagles.
You will pay a premium for Eagles if you want them. A better bullion coin is the Maple because it has the same metal content, is 4 9s pure, and is about 10% less expensive.
Silver bars are also a good buy.
Any good quality gold coin or bar is OK – Eagles, Maples, Krugerrands.
Cheers.
https://www.kitco.com/charts/livegold.html
I also like this app a lot, and the premiums are unbeatable. I know it’s not as good as physical in hand when we go Mad Max, but personally, I don’t see that happening. If it does happen, guns, ammo and liquor will be better “investments”. Problem with the app is, it makes buying just too easy. Been making a few small purchases here and there for the long run.
https://www.cybermetals.com/
From a TAX standpoint for US buyers, be VERY aware of the IRS collectibles status of your purchases.
Years ago, I remember CEF finding a way to structure their fund around that.
Collectibles are taxed at a higher rate, even if held longer term (beyond a year).
Others can go into more detail.
Also …. VERY IMPORTANT …. DO NOT … DO NOT … store your coins in a safe deposit box at a bank or any other cough cough reputable financial institution under the direct thumb of ‘thugs’.
Thanks all for this great info – this is such a wonderful group – honored to be part. Hopefully my friends will pull the trigger before its too late…
I like junk silver. Appreciation and has barter value. Thinking that any disruption would be short term.
The internet comes back and vehicles like CEF will protect you from a failing currency.
I try to keep it simple.
If things go Mad Max, he who has the gun survives.
All form of payments stop. In and outgoing. Utilities are gone. Keep a supply of non-perishable food to survive a period of time.
Helping and protecting your family/friends is important.
In the Mad Max scenario, skills and old fashioned tools have value.
Physical PMs not so much.
It’s survival.