# Buying silver and gold



## normanstyles (4 November 2008)

I'v saved up a few grand, 2000$, and was interested in buying gold or silver. silver kilo bars are around 500$ each i read in the paper. I live in victoria, do i buy shares in a company that buys and holds the silver for me or is there someone i can go to buy silver, i would prefere the tangible option, and what is the options i have when i wish to sell it.?


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## Glen48 (4 November 2008)

If you are buying any thing get it in small lots , that way you can sell small amounts rather than 1 x 50kg bar


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## nunthewiser (4 November 2008)

http://www.perthmint.com.au/metalPrices.aspx



hope that helps


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## normanstyles (5 November 2008)

thats the perth mint. is there a melbourne mint?


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## nunthewiser (5 November 2008)

read the site , explore it , it shows where to buy in other states too


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## normanstyles (5 November 2008)

thankyou.


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## finicky (6 November 2008)

Rather than deal with the Perth mint I would look in the Yellowpages.com.au under 'Gold and Silver Merchants' under the Melbourne location. A few dealers have there own websites. They will courier the silver to you at not too much cost.

http://yellowpages.com.au/search/po...erchants&locationClue=Melbourne+VIC&x=39&y=18

Here's one:

http://www.heavymetalholdings.com.au/


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## Wysiwyg (6 November 2008)

Here is a place where you can buy/sell gold.

http://www.ainsliebullion.com.au/ea...ode=e004p01_stdEshop&page_code=buying_selling

Telephone orders

If it is inconvenient to visit our office, you may use our telephone service or internet inquiries service. Simply phone us on (07) 3221 0500 or toll free on 1800 819 474 and place your order. The order will be placed in your name and held for you free of charge, until you have time to collect it. Alternatively, for a small charge (which includes insurance) your order can be shipped directly to you. Payment must be received on the same day of purchase, either by telegraphic transfer or cash into our bank account.


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## Reealjrd (6 November 2008)

If willing to purchase gold or silver. First please go through the market trend what it is saying. Weather buying gold or silver will be profitable in the future. Go for small lots of gold and silver.


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## Wysiwyg (6 November 2008)

Reealjrd said:


> If willing to purchase gold or silver. First please go through the market trend what it is saying. Weather buying gold or silver will be profitable in the future. Go for small lots of gold and silver.




Yeah doubt if another top will be put in over the next year or two and the downtrend to continue.

He did want to know where to buy gold from though!!


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## BentRod (7 November 2008)

Norm,
        Your better off giving physical bars a miss.

You pay more in the spread and they are a hassle to store/get rid of. 

It might be worth opening an account with Oanda as they are the only ones I know of that offer precise position sizing in Silver/Gold.


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## rowie (10 November 2008)

Can anyone advise on buying gold bullion securities or GOLD on asx? Is it the same as buying physical gold or are there disadvantages to it? It seems like a good alternative to buying physical gold and looks like it tracks the price of gold pretty acurately.


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## CanOz (11 November 2008)

BentRod said:


> Norm,
> Your better off giving physical bars a miss.
> 
> You pay more in the spread and they are a hassle to store/get rid of.
> ...




Bent, do you trade the XAU/USD?

Cheers,

CanOz


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## CanOz (11 November 2008)

rowie said:


> Can anyone advise on buying gold bullion securities or GOLD on asx? Is it the same as buying physical gold or are there disadvantages to it? It seems like a good alternative to buying physical gold and looks like it tracks the price of gold pretty acurately.




With GOLD on the ASX you are at the mercy of the AUD. If it drops, as seems to be the trend, then you'll suffer two fold if gold futures drop as well.

Cheers,


COz


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## rowie (11 November 2008)

CanOz said:


> With GOLD on the ASX you are at the mercy of the AUD. If it drops, as seems to be the trend, then you'll suffer two fold if gold futures drop as well.
> 
> Cheers,
> 
> ...




Thanks CanOz for your thoughts. 
But GOLD that is traded on the ASX is not tied to gold futures though. The actual security that is purchased is backed by gold bars held on trust by a custodian in an allocated account. Hence for each GOLD security on issue there is a corresponding amount of gold held in trust. Not sure where the risk lies here or why it would be worse than buying actual physical gold as there are no issues with storage and insurance. Surely there is a catch I am missing somewhere.


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## Wysiwyg (11 November 2008)

What a laugh.I was reading a website and they had below printed out.

US$10000 / ounce of silver.What a load of bollocks.



> As this graph below demonstrates we are now at the begging of the next Bull Run in Silver and with everything mentioned above, *many analysis **and commodity* / *precious metal experts *have predicted prices ranging from *US**$30.00 to US$10,000.00 an ounce*.




Floggin` the stuff is hard work by the looks.


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## rowie (13 November 2008)

Probably a dumb question but what is the difference between an Australian Bullion Company 1kg bar of silver and a perth mint 1kg bar? Nothing Im thinking but just want to confirm.


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## Uncle Festivus (13 November 2008)

rowie said:


> Probably a dumb question but what is the difference between an Australian Bullion Company 1kg bar of silver and a perth mint 1kg bar? Nothing Im thinking but just want to confirm.




Check the purity eg four nines eg 99.99% silver?? or better
Different logo stamp?
Buy & sell spread of each?
Each will probably give you a slight premium to buy back their own brand or discount if other brand?
Not much diff otherwise?


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## Wysiwyg (13 November 2008)

rowie said:


> Probably a dumb question but what is the difference between an Australian Bullion Company 1kg bar of silver and a perth mint 1kg bar? Nothing Im thinking but just want to confirm.




Check the prices too. I was quoted A$585 / kg. of Ag today at Ainslie and Perth Mint have them for A$509 / kg.(99.9% pure)


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## BentRod (14 November 2008)

CanOz said:


> Bent, do you trade the XAU/USD?
> 
> Cheers,
> 
> CanOz




Sorry missed this Can.

Yes I do, XAG/USD also.

Spreads are best during the US session.

cheers


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## CanOz (14 November 2008)

BentRod said:


> Sorry missed this Can.
> 
> Yes I do, XAG/USD also.
> 
> ...




Its nice having this option available to trade the two.

I really like Oanda, they seem like a good honest broker so far.

Cheers,


CanOz


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## moXJO (15 November 2008)

Wysiwyg said:


> Check the prices too. I was quoted A$585 / kg. of Ag today at Ainslie and Perth Mint have them for A$509 / kg.(99.9% pure)




Don't buy from Ainslie they are sharks.Call around for the best deal and try and work them down.AInslie bars are 99.9% pure as well. But they try and really screw you on the price if they get half they chance.

http://www.goldbullionaustralia.com.au/index.html

http://www.ausbullion.com.au/bullion.html

or perth mint


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## 24 Karat (2 June 2010)

Hello everyone,

I'm new to ASF and commodities but can I just say, what a great source of knowledge there is here. 

I'm looking to buy some silver bullion but am a bit cautious.  I've spent the past 2 days reading through all the threads about silver (physical vs ETF vs other paper) and my eyes are so dry but I'm enjoying it.

I've read that there is fake bullion floating around in some posts, most notably gold.  What's the chance that the same can happen with silver?  How can a novice tell without spending more on tests than what an ounce of silver is worth?  I've also read about purity and how some bullion is .9999 whilst other is .9995.  Is .999 bullion OK to buy?

I've been trying to get my hands on some Perth Mint bullion but nobody (other than eBay) has much on offer.  Anyone got an opinion they're willing to share?


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## explod (2 June 2010)

24 Karat said:


> Hello everyone,
> 
> I'm new to ASF and commodities but can I just say, what a great source of knowledge there is here.
> 
> ...




Have you checked the "Gold/silver bullion investment" thread, most answers you seek will be there.   see:-

https://www.aussiestockforums.com/forums/showthread.php?t=18137


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## Boyou (2 June 2010)

While there are many knowledgable people posting on PM s on this great forum.....
There is also a dedicated forum on all things silver and gold..should keep your eyes dry for ages  

http://forums.silverstackers.com/index.php



24 Karat said:


> Hello everyone,
> 
> I'm new to ASF and commodities but can I just say, what a great source of knowledge there is here.
> 
> ...


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## Ageo (2 June 2010)

24 Karat said:


> Hello everyone,
> 
> 
> I've read that there is fake bullion floating around in some posts, most notably gold.  What's the chance that the same can happen with silver?  How can a novice tell without spending more on tests than what an ounce of silver is worth?  I've also read about purity and how some bullion is .9999 whilst other is .9995.  Is .999 bullion OK to buy?
> ...




What others have said but in terms of purity dont get too caught up in it as most people that advertise .9999 purity are full of **** as to get that sort of purity requires double refining and still you are left with miniscule impurities which will affect the .9999. A rule of thumb is around the .999 (with the 4 digit being whatever). Anywayz to cut through the crap its sold and bought as 24ct anyway that last digit usually wont impact the deal.

Just be careful of the spread (price difference between market and dealer) at the moment as the Aussie market is a little hectic from the dollar moving like a yoyo.

Where are you located? I could hook you up on some silver if your in Sydney.


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## 24 Karat (3 June 2010)

Thanks to everyone for all your thoughts.  Should keep me busy for the next couple of days. 

Ageo, thanks for the offer but I'm located in Melbourne.  Just one other thing.  You mention "the spread" in your post.  If I've got this right does that mean the difference between what the market for silver is, say $19 per ounce, and what the dealer is selling at, let's say $21 per ounce?

What is a reasonable spread dollar wise / percentage wise?


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## Ageo (5 June 2010)

24 Karat said:


> Thanks to everyone for all your thoughts.  Should keep me busy for the next couple of days.
> 
> Ageo, thanks for the offer but I'm located in Melbourne.  Just one other thing.  You mention "the spread" in your post.  If I've got this right does that mean the difference between what the market for silver is, say $19 per ounce, and what the dealer is selling at, let's say $21 per ounce?
> 
> What is a reasonable spread dollar wise / percentage wise?




Correct in regards to the spread. silver it usually doesnt move much but in gold i wouldnt be paying more than $30 per ounce above spot as that is pushing it.

Goto ABC melbourne as they will look after you


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## 24 Karat (5 June 2010)

Thanks again Ageo.

Has anyone bought any palladium lately? (I know, I know there's another thread for that one !!!  )

I must have white metal fever at the moment ..................

BTW, I visited ABC in Melbourne and they asked for ID.  Is this normal?


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## explod (5 June 2010)

24 Karat said:


> Thanks again Ageo.
> 
> Has anyone bought any palladium lately? (I know, I know there's another thread for that one !!!  )
> 
> ...




Yes, it is required that they keep a record of all purchaes and sales for the ATO and licence ID is written in their book for that purpose.  You will also be required to sign the entry as well.


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## Ageo (5 June 2010)

24 Karat said:


> Thanks again Ageo.
> 
> Has anyone bought any palladium lately? (I know, I know there's another thread for that one !!!  )
> 
> ...




Yep unfortunately the government has passed new anti money laundering laws which require I.D from purchases.

Sux yes i know but its another thing the gubberment is trying to do to have total control.


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## 24 Karat (10 June 2010)

What do you guys think of buying bullion off a "vendor" on eBay??


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## explod (11 June 2010)

24 Karat said:


> What do you guys think of buying bullion off a "vendor" on eBay??




I purchased 6 new zealand one ounce silver coins on ebay 12 months ago with no problem.  But be a bit wary.  I think it is well worth vising coin dealers and just talking to the for awhile.   I have adopted I Wright & Sons located in Lonsdale Street, Melbourne and now have full confidence in them.   

But like all things in money you must find your own waqy gradually.   There is no great haste, I think the real big uptic in PM,s is 12 months off yet.


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## rensionurne (3 July 2010)

When I buy a Kookaburra, I pay for the bullion value of the silver and a premium. The premium usually covers the shipping to the seller, not to you, storage & a profitmargin


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## Ageo (5 July 2010)

24 Karat said:


> What do you guys think of buying bullion off a "vendor" on eBay??




Just be wary, as once you have bought it there are no refunds.

But depending on how cheap you pick up bullion once you factor in shipping etc... it shouldnt be too much different than from a dealer.


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