Buying silver and gold

CanOz · 14 November 2008

BentRod said:
Sorry missed this Can.

Yes I do, XAG/USD also.

Spreads are best during the US session.

cheers

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

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

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?

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.

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?

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

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.

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?

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?

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?

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.

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?

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

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?

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 !!! )

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

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

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.

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 !!! )

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

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

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.

24 Karat · 10 June 2010

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

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.

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

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.

Buying silver and gold

CanOz

Home runs feel good, but base hits pay bills!

moXJO

menace to society

24 Karat

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explod

Boyou

Ageo

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explod

Ageo

24 Karat

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explod

rensionurne

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