How to Buy Gold and Silver
Recently visting ebay and also hearing of some very overpriced gold and silver purchases, I wanted to offer my opinion on buying physical gold and silver. This video explains how to get real gold and silver at the best price "over spot."
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I fully understand what you are attempting to do-say.
Ampex don’t ship to UK(I know its just an example)
Ebay charges 3% to the sellers fee (Iamnot a seller)
It is also good for those with out access to local dealer’s.
Again I understand fully what your trying to say.
I was glad that Idid not have tohit the mute button for the first 6 seconds either.
Silver now, as long as your not paying SILLY PRICES is a deal, but like anything SHOP AROUND.
great video. I got ripped off. when first was on buying on ebay. but I’m in the UK so don’t have ampex over here. I have been getting 50 oz recently from Ebay for $932. still deals to be had. Anyone buying in the UK check CIS/Sarnia silver. you can buy in small amounts better that way than ebay.
Thanks for the tour of APMEX website. I’ve been purchasing local but the sources are drying up. Seems the internet is the only option for me at the moment.
You might want to try pawn shops, I purchased 50 oz over a period of months, each purchase was below spot price. Not all pawn shops have silver bullion, some do, call ahead and Good Hunting!
Thanks. I haven’t went to any local shops yet, but I will soon just to see if I can get some deals. Thanks again.
eBay charges 12% for selling items, plus the listing fees and other fees, and then PayPal (which you must accept now) fees.
Hmm 12% seller fee’s, listing & other fee’s+ PayPAL you forgot shipping charges mate.
lol Still it beats holding paper hu?
that is true
You Americans don’t realise how lucky you are! I’m in UK and I just called one of the largest coin dealers in the country the other day and asked them what was their best deal on ANY 1oz silver bullion coins if I bought over 100oz at one time. Their quote was MORE THAN FIFTY PERCENT OVER SPOT and that was at quite a discount over single ounce purchases. We get taxed on physical bullion at 15% though so I suppose that accounts for some of the difference.
Also I’d like to say that your video is EXCELLENT. Very informative and you have addressed the VERY important issue of INDIVISIBILITY of larger bullion products which many other people seem to overlook. Any silver investor is looking for the price to ‘go to the moon’ but hasn’t thought how difficult it will then be for them to liquidate their 100oz bars.
I’ve just learned that here in South Korea if you buy from a bank they put a 100% mark up on the price. You can buy from a little corner jewelery store in cash for above spot, or with a receipt for ‘about 20%’ above their stated prices. To take it out of the country, and to be stopped at immigration without a receipt is to be charged 40% tax.
BTW thanks bluecat1122.
I’d like for other people to make clips on the practicalities of shopping for gold, too. I believe you and all the others that it’s worthwhile to do so. I just have no practical idea of how to go about it.
More so considering my being in a different country, culture, and dealing with another language. It’s kinda tricky just buying cornflakes here sometimes..!
if you happen to want seminumismatic (old) US gold, at apmex keep an eye out for their premiums over spot. once in a while they will very briefly dip to 15-20% over spot. jump on it! btw apmex is fine trusted seller
What is ‘over the spot’ ?
If the Market value is $18.00 per oz and you pay $20.00 per oz then that is $2.00 over spot.
What do you recommend. Bars, coins, or both; and why. Thanks for the vid, and your response.
A little premature on my question, but looking for specifically as it relates to the future. What exactly should we do with them, and where are the places we can exchange or use them, when the time comes that we need to?
You can sell them on ebay, craigslist, etc. Also, APMEX (where I’ve bought my gold and silver) will buy it back from you if an when you decide to sell. At this point, you just want to hold it of course and only sell in increments that you need later. Hope this helps.
I’m actually interested in buying gold and silver in South Korea as well. Say if you bought gold and silver from APMEX and wanted it shipped to South Korea…would there be a tax? Just wanted to know if you have bought gold and metals in Korea…how did you do it? In what form (Coin or Bars) and at a reasonable price?
Actually, in the end – so far, anyway – I’ve not bought any physical (or any other sort) of metals. I came real close, but realised I just don’t feel comfortable with not knowing enough about it all. My maths is bad, and I don’t know enough people to trust in that scene here.
To answer your question though: in SK they sell in ‘don’ which is a measurement of 3.5 grams (from memory… you can check online!). You can buy small ‘bars’ – usually (very!) small rounded edged blocks eg. ‘ship don’ = 10.
I’d also like to know more about buying online and shipping in, although apparently if the store owner here wants to check then they make you pay the cost of checking/ authenticating the quality of the product.
The best advice I’ve had so far is to buy through the homeland’s mint, and get them to store your stash until you make it home to claim it in person. That does mean you don’t have any in your place ready for the rainy day season, but hopefully we’ll be able to get home before all of that.
well I actually live in Korea but I spend a good time of the year in the States…but I think it would be a VERY bad idea to try and sneak in gold in my suitcase while I’m traveling or something, so I was wondering I could get the physical gold in my home in Korea. But even if you bought gold from a store in Korea…what other fees would that come with? I really wanna have the real metal for financial security..
apmex only locks the price for 10 minutes during purchasing. until you start to complete the transaction the price will change unless the market is closed of course.
apmex only ships in the US and Canada so if you wanted to buy from them they could ship it to someone inside those countries and they could ship it to you. I’m sure there will be some kind of fee between countries and of course the shipping fee. It would be cheaper to buy inside South Korea but be careful Asia is full of fakes so test your gold and silver!
Really? According to the APMEX FAQ on their website, they say the can deliver internationally, but that they slap on a 10% surcharge when shipping anywhere outside the United States.
But I think it is important to have the PHYSICAL gold and silver metal with you for security. You never know, gold and silver are money in themselves
@bluecat1122 that is why people buy from APMEX and sell on Ebay.