I'd like to purchase gold and silver without a loss

HeyGoldComeHere

Fly on the Wall
Messages
4
Reaction score
0
Points
0
Any suggestions as to how I can purchase gold and silver with the initial 10% or so loss? I'd love to hear ideas.
 

pmbug

Your Host
Administrator
Messages
7,433
Reaction score
16
Points
193
Location
Texas
You can try buying it on the Comex and taking physical delivery or buying directly from a refinery. I've never done it, but that's how the big boys (banks, private refineries, jewelry industry) do it.
 

HeyGoldComeHere

Fly on the Wall
Messages
4
Reaction score
0
Points
0
Has anyone heard of UPMA?

Thank you for the feedback and suggestion.

I've also heard about UPMA (The United Precious Metals Association), a gold and silver repository in Utah and heard about them, but wanted to know if anyone has had experience with them.
 

HeyGoldComeHere

Fly on the Wall
Messages
4
Reaction score
0
Points
0
UPMA claims a no buy-sell spread

UPMA says they charge no buy-spread because, since they are a member organization, the members essentially buy and sell to each other so there is no "loss" in the purchase.

Has anyone heard of that or tried purchasing from them?
 

pmbug

Your Host
Administrator
Messages
7,433
Reaction score
16
Points
193
Location
Texas
Their website states:
...
Gold and Silver Rates

... Redemptions and exchanges are all processed at one exchange rate set each business day based on the London Bullion Market Association (LBMA) fix. This rate based on the spot price of 400-ounce good delivery gold bars is then subject to a coinage premium‐currently 5.8% for gold‐to arrive at UPMA's™ daily rate. The daily rate for silver coin is calculated in a similar fashion. These coinage premiums are subject to change at any time due to supply ebbs and flows. ...
They don't charge a "spread fee" for converting FRNs to their gold dollars and back, but their daily conversion rate could still impose a premium for converting FRNs to gold dollars. They also charge monthly vaulting fees and various other potential fess (see "Fee Schedule" section of their resources page).
 

Christian

Fly on the Wall
Messages
32
Reaction score
0
Points
0
Investing in gold and silver does not represent a loss. Have you heard of cryptosilver?
 

mmerlinn

Ground Beetle
Messages
633
Reaction score
0
Points
136
Location
Here, There, and Everywhere
Investing in gold and silver does not represent a loss. Have you heard of cryptosilver?
Apparently you did not read the OPs question or if you did, you did not understand what you read. Further, it appears that you are not cognizant of what the OP is referring to.

Or maybe your post is just spam where you posted garbage for the sole purpose of upping your post count.
 
Top