Minyan Mailbag - More Physical Gold Buying
Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.
I have a question about the best way to buy physical gold... I currently buy 1 oz. American Gold Eagles from Apmex.com every month. I notice that the gold is .91xxx% pure. Is there a better vehicle for physical? Should I be buying gold bars perhaps or something that is .9999%? And have gold mining shares Kinross Gold (KGC:NYSE) and Newmont Mining (NEM:NYSE) since 2002 that I add to as well. 50% mining shares/ 50% physical. Not asking for advice, just trying to understand how physical works. Thanks mate!
I don't buy coins, numismatics mean nothing to me, I just want as much GOLD as close to 100% pure content as possible. I don't want any fabrication costs that apply to coins and jewelry. I believe the Aussie and Canada coins are best but do your own checking on purity and weight. Krugs are 95% I think. Gold Eagles I don't know too much about but check www.kitco.com as they have all the coin specs. Other Minyans have suggested www.amark.com and www.golddealer.com . I cannot vouch for any supplier and have nothing to do with any of these people so do your own DD.
I only buy .9999 bars and see this as the best physical vehicle, IMO. Bar size is from 1/10 ounce to 400 ounces. Globally recognized refinery stamp should be on it as well as its purity. You want as much weight, as pure as you can get for as few pieces of paper as possible.. Finished. It doesn't matter what vehicle it comes in, teeth will do me as long as I can prove the weight and purity.
Can't fault the shares you own. I own them both personally and professionally.
Opinion only, never advice.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter