I want to preface this by saying:

A)I don't want to be told not to buy gold. Thank you, Jim Cooke :-)

B)I don't want to be told that it is going to $5000/ OZ. Thank you, Gold Loser :-)

I just would like to know of a reputable, INEXPENSIVE, place to buy when I decide to buy. Thanks in advance for the help.

-- J (Y2J@home.comm), April 27, 2000

Answers

Do you want physical gold (coins or bullion) or certificates of gold ownership?

-- Ken Decker (kcdecker@worldnet.att.net), April 27, 2000.

I want to take delivery. Preferably bullion coins (eagles,maple leafs, or krugerrands) but I might be open to bullion bars if they were cheap enough.

-- J (Y2J@home.comm), April 27, 2000.

Do not buy gold. It's a sucker's play.

Gold will go to $5000 soon. Hang in there.

-- (qwerty@ui.op), April 27, 2000.

J:

Contrary to you apparently think, I wouldn't advise not buy ANY gold. I still own some gold and was a large buyer of gold and silver from the mid 60's through 1980. What I wouldn't advise people to do is to put all their money in gold or to assume gold is an investment in the same way investing in stock markets is an investment.

The best way I found to buy gold was to develop a relationship with a local coin dealer. The ideal dealer is one big enough to have some bullion connections but not big enough that that's the main part of his business. I found they were willing to turn over bullion type coins at as little as a .5% to 1% premium for a quick sale to a cash buyer. If you get a good dealer you can also pick up some good numismatic pieces at a reasonable premium so you get the play of both markets.

-- Jim Cooke (JJCooke@yahoo.com), April 27, 2000.

www.ajpm.com

No sales tax and they ship on Tuesdays and Thursdays from Boston. They ship adult signature required- don't tell the delivery guy what it is and fight back your smile. I wire transfer funds -I know it leaves a trail but it clears the fastest.

-- Swampthing (in@the.swamp), April 27, 2000.

Jim,

I remember from earlier threads that you had traded gold and silver extensively in the past. I assumed (incorrectly) that something had completely turned you off to prescious metals. Sorry, about my incorrect assumption.

My problem with finding a coin dealer is that I am far from a big city, and the ones that I have contacted in the largest cities around have quoted me exorbitant markups. Also, when buying from a coin dealer, one encounters state sales tax, which I have difficulty with in principle. It is the equivalent of taxing either the shares of stock that you purchase, or the money that comes out of the atm machine, depending on your view of what gold is. Either way, I believe it to be a travesty, and would like to legally avoid it if possible.

I believe that owning ONLY gold is as prudent as owning NO gold at all. In other words, it is not. And don't take Gold Loser seriously, what he posts is so outrageous that he must be joking.

-- J (Y2J@home.comm), April 27, 2000.

Thanks, Swampthing.
I have been to their website, and they seemed to be good. Part of why I posted was to see if others have had success with ajpm. Also, I am wondering if there is any other that might be even cheaper.

-- J (Y2J@home.comm), April 27, 2000.

J,

Burt Blumert at Camino Coins in San Mateo, CA is a very reputable, low margin dealer. I have dealt with him personally. Their number is 650-348-3000. You can ask them if they have an 800 number.

-- Mr. G (mrg@gold.glitters), April 27, 2000.

Thanks Mr. G.

-- J (Y2J@home.comm), April 27, 2000.

J:

The only thing that soured me on gold and silver was losing money:^)

If you haven't done so, get the latest issue of Coin World. Pick out a few dealers that look like they have good prices and give each one an order for soemthing like one Maple Leaf or Eagle. Let them know you'd like to become a regular buyer because you have no source close to you. You'll be able to tell pretty quickly by the response and how quickly the order is filled which ones are interested in your business.

I don't know the sales tax regulations on bullion coins any longer since I'm not a current buyer. I know that there's no sales tax on coins with numismatic value so that's one of things to consider when deciding what to buy. OTOH, if you're not a coin collector, you're better off sticking with bullion coins since grading of numismatic coins can be a real minefield.

-- Jim Cooke (JJCooke@yahoo.com), April 27, 2000.

Talk to Troy at Dallas Gold & Silver. He talked me into buying some palladium a year ago and, contrary to Ken Decker's advice on precious metals, I made a killing.

-- PM Speculator (private@email.com), April 27, 2000.

J

I just called the nuismatic dealer I use in the "big city" near me. I have bought from him in the past. I'm into buying silver now so here you go. At 3:00 est. his prices for 100oz bars 506.00 10 oz 55.60 good prices but there is a 6% sales tax. AJPM's prices were 100oz 527.00 and 10 oz 57.00. With no sales tax I'll save with ajpm but will have to wait for delivery. I feel patient today think I'll use ajpm.

-- Swampthing (in@the.swamp), April 27, 2000.

Best buy on the net is www.tulving.com

-- Porky (Porky@in.cellblockD), April 27, 2000.

Thanks, Porky.

-- J (Y2J@home.comm), April 27, 2000.

For the record, I didn't tell anyone NOT to buy gold last year. I simply expressed my disinterest in precious metals as an investment. If I lost out on a run in palladium... so be it. If gold spikes to $350/oz by the end of the year, it won't cost me a nickel.

During the past 20 years, gold has failed to keep up with inflation. In other words, if you bought gold in the early 80s you lost money not only on the declining price... but on the declining purchasing power. I don't think gold will continue to lag behind inflation forever. I also fail to see where gold will run far ahead of inflation. This would require a fundamental shift in the supply and demand equation.

Best of luck in your investing.

-- Ken Decker (kcdecker@worldnet.att.net), April 27, 2000.

J,

BUY GOLD NOW!!!!! IT'S GOING TO $5000/ OUNCE!!!!

Sorry, but havent' seen GL post yet, and thought someone should fill in.

Personally, I like the "junk silver" coins better for small change "investing", their denominations are recogized in the U.S., and are a "precious" metal.

Frank

-- Someone (ChimingIn@twocents.cam), April 27, 2000.

Thanks, PM Speculator.

-- J (Y2J@home.comm), April 28, 2000.

Ok, so I've poked at GL myself.

Now I am humbly, honestly asking "why do people really want to buy gold now?"

A friend bought one coin pre-y2k (yes thanks 2 me. yes, we are STILL friends although he has toooo much too mention in his cabinet) but it cost him alot of money for one little coin.

I understood then why, but what is up with now?

--thanks just wondering.

-- consumer (shh@aol.com), April 28, 2000.

Consumer

For the same reason God made it rare

people have used it for trade since the beginning of time

it has outlasted all forms of paper money.

It will hold value forever.

-- Swampthing (in@the.swamp), April 28, 2000.

Swamp,

thanks, but if that is true, how come it is not doing so well?

I am serious, and wondering. Do you think it will go up?

-- consumer (shh@aol.com), April 28, 2000.

Have you ever been here?

http://www.usagold.com/goldTrail/default.html

FOA presents an interesting scenerio which I don't have too much trouble believing. In the discussion forum lots of big brains and they are a little pompus but I can't help but believe what they post.

FWIW I bought gold prey2k and am glad I did. I am now buying silver and when I reach my goal will start buying gold again. I don't mess with the mining companies anymore, too many pump and dumps.

Pre y2k we exited the stock market and then when y2k fizzled we got back in early Feb. got caught up in the hysteria and realized it was just greater fool theory everywhere and promptly left mid March with nice profits. If we had stayed in we would of lost alot of our initial investment in April. Glad we left. May is looking like it could shape up to be a bad month as well for the markets with a record number of insider shares coming up. China is saber rattling and its been too long since we had a terrorist incident, I look for a big one soon. I would hate to be overleveraged in speculative tech stocks when something earth-shattering happens also I wouldn't want to be without some physical. Vulnerable-thats the biggest lesson I learned from y2k. I'm not inclined to repeat that mistake again.

-- Swampthing (in@the.swamp), April 28, 2000.