New to PM Bug and PM Investing

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

M

mazztech

Fly on the Wall
Messages
16
Reaction score
0
Points
0
Hi everyone, I thought I'd introduce myself. I'm currently looking to invest my money as I've been working now only for 6-7 years and have a savings that I am planning on using to buy a new home. I'm currently working in China with the majority of my cash pile in RMB and some in USD. I know at some point in the future all my hard work may crumble if I don't transfer my currency into some real cash assets. However I'm very new and don't want to just buy randomly and will be looking for advice to develop a strategy and eventually make some purchases.

If anyone have any recommendations on where someone should start for developing an understanding of the market, I'd be greatly appreciative. I noticed there wasn't a sticky for newbies like myself.

Thanks for your time and I hope to get to get to know everyone shortly!
 
Hi mazztech, welcome to the forum. :wave:

If you are looking to invest in physical metal, the exact form you choose might depend a bit on where you plan to live (like which country). Different bars/ingots, (official government issue) coins and (private mint) rounds have varying liquidity (market acceptance) in different locales. Of course, there are (may) also (be) other considerations.
 
Well I guess the thing is I'm currently living outside of the US even though I am an American. I'd prefer to hold on to my gold/silver and I think I'd prefer to buy it from official government issue as I feel the Canadian Maple Leafs seem to be very pure and reliable from the little research I have read thus far. Also they seem to be slightly less expensive then the American Eagles.

I'm also considering securely storing the PM in a vault, but then I have reservations that I won't be able to access if if something happens.... I feel risking having it on me is the only same and secure way to keep the PM. Though because I travel often, this may make it difficult, unless I of course only buy it when I'll be at my parents home.

I'm looking into buying gold/silver as a long term investment incase our currency based system fails (which it seems it most likely will). I do feel more comfortable that a lot of my currency is in RMB (and I have read reports of China buying lots of gold, I may be mistaken, but this might be a good thing for someone in my position).
 
If you have a relative you trust implicitly, such as a parent, then order from Apmex and have it delivered to the folks so they can store it for you.
 
ancona said:
If you have a relative you trust implicitly, such as a parent, then order from Apmex and have it delivered to the folks so they can store it for you.
Click to expand...
I do have relatives I can trust, and I can securely hide my stash someplace deep in their house in case of home invasion (in fact my parents have SOO much stuff laying around, it would be easy to have a hiding place there.)

The next question is what to buy when from whom. I've been reading about silver mostly recently and see people say buy when silve is below $31. Is this Spot $31 or actual selling price? The lowest price I can find today with silver at 29.80 spot is about 32.11.
 
mazztech said:
I do have relatives I can trust, and I can securely hide my stash someplace deep in their house in case of home invasion (in fact my parents have SOO much stuff laying around, it would be easy to have a hiding place there.)

The next question is what to buy when from whom. I've been reading about silver mostly recently and see people say buy when silve is below $31. Is this Spot $31 or actual selling price? The lowest price I can find today with silver at 29.80 spot is about 32.11.
Click to expand...

I was referencing the spot price when I talked about $31. There are entire threads devoted to where to go for the best actual prices. The actual price will vary on how much you are buying at one time, possible shipping costs and what you actually buy.
 
mazztech,

If you have just begun securing your futures with possession; it matters not when you make your initial purchase. See a % dip in the market, jump in with the rest of us. You will preserve your purchasing power, to be used at your discretion, for the rest of your life. China has silver. You could buy & hold, sell or ship when and IF, you choose to return. I just bought 3 Pandas (2) 2003's and (1) 2004 $38 each at LCS(local coin shop). Ebay price is $95 - $125. LCS rocks when they do not check ebay & friends, or do not care.


For info watch: Sons of Liberty Academy or The Greatest Truth Never Told
 
Thanks for all the feedback. I will be making my first purchase soon and I believe I have decided to buy from Goldmart (because of the prices) and I have read good reports on this site. I'm going to be making a smaller first time investment and see how the transaction goes. I will be buying a Roll (20) of 1oz ASE and a single 1 oz Canadian Maple.

The Shipping and handling is $20. So when factored for shipping, the Canadian Maple becomes about the same price as a AGE, which makes me feel comfortable about my purchase. Is this an okay way of thinking?
 
As long as you are buying with funds that you won't need for at least 5-10 years, (ie. you won't need to liquidate your metals to raise funds to pay bills), then you are going to be just fine. :)
 
You must log in or register to reply here.
Back
Top Bottom