How to Buy Silver - How to Buy Gold - Mike Maloney
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- čas přidán 12. 11. 2010
- Visit: GoldSilver.com & HiddenSecretsOfMoney.com/
IRS 1099B Reporting: goldsilver.com/article/irs-109...
The most common questions after learning about gold and silver are "How?" and "What form of Bullion should I buy?" - Jak na to + styl
"You don't want a big old armored car pulling up in front of your house."
No, but it would be a nice problem to have.
If silver goes over $1000/oz, will it be because silver increased in value, or because dollars decreased in value?
What happens when you buy silver then the dollar collapses how will the silver be valued in the open market? How do we base it's value or gets it value. If there's no dollar?
Reputable known gold refiners (4:58) Johnson Matthey, Engelhard (NTR Metals, US Mint, Sunshine Mint, Highland Mint, A-Mark). 1099-B (6:10) issued @ 1,000 oz Silver & 1 kilo Gold
Mike that was an excellent video explaining about gold and silver buying. I think we have to be more careful when buying gold and silver because there are a lot scams going on today especially online.
i wish here in the uk we didnt pay 20% vat on silver
Thanks for this info : buy REAL PHYSICAL METALS. Not any ideas/BS/imaginations/digital forms of silver or gold.
Keep up the great work Mike!
Great and helpful information. Thanks
Thanks for being clear about the IRS reporting, helpful!
I didn't really follow his reasoning for not owning junk silver, but lots of good info here. Thank you for posting :)
Thanks Mike! Great video as always.
Best advice from the video "its better to have silver and gold than not have it"
Just buy what silver and gold you can! Protect whatever wealth you have. I think personally the less wealth you have the more important it is to protect it.
8:00 for the types of silver you should know about.
Not only are the Silver Eagles and Maples Leafs Government minted bullion. They are also collector coins and have numismatic value. Really a win, win for investors with two ways to profit.
Excellent video! Any ideas on reputable sellers to buy silver bars from in the Hamilton or Oakville area? Thanks!
Mike, you break it down in the simplest terms for anyone to feel comfortable just getting into precious metals. You're a valuable resource. Thanks for all the extra work you do.
The riddle I can't answer is : If its more important to horde and keep as much silver and gold you can hold on too, why is this guy and other companies dumping and selling boxes full of them?
@drutter
I followed his reasoning, I just don't agree that it is much of an issue.
When gold and silver regains a high profile so that every corner store and gas station is excepting PMs as payment, business owners and managers are going to get up to speed on what junk silver is.
@xaotiko yeah thats right... i remember that, he was getting those coins analysed in london i think? how did that workout, haven't heard anything?
I invest in bullion coins only (ASE's & Peace/Morgan dollars. I place no value of one particular coin over the others.
I see them as shares in a particular stock, the ASE's are 1st tier shares and the Peace/Morgans are 2nd tier.
I calculate their value as a whole, to find the "personal rate of return", just as a 401k would be calculated...
But I do have a single favorite, a very good condition Peace Dollar, This one coin I set aside from the others, she is flawless and beautiful.
Are silver rounds a good investment? Are they similar to the bars in that they are marked with weight and purity? Or would you stay away from silver rounds?
i invested in copper because i read that in wartime the value of copper goes up because it is used to make ammunition,is that true? btw i love your videos
Very informative and easy to understand. The speaker is very good and clear and not boring. I like the tax knowledge and differences in selecting coinage and bars etc.
You should sell the Scottsdale Silver Stacker. My favorite silver bar!
Thank You Mike for info. :)
Mike, If I could ask you a somewhat of personal question? How much did you invest of your own money to start selling gold and silver like this?
Great investment! Warning to all those investing in gold watch out for BullionVault they are scammers. Selling you gold do not own or will NOT send you!
bars and coins i wish we had an advantage like holland but most silver in the uk have vat i think if there is no vat you should stock in pirth mint 1 kg coins
This is great. Thank you. You are doing a great job informing people.
Wouldn't it be a good idea to diversify between mining stocks and physical metal, just in case of confiscation.
junk silver is good for small purchases, if you need to make a purchase that's less than 1 oz of silver, it's best to use junk silver instead of the 10z bars or rounds since you would need to hope the clerk can give you change in silver and not fiat cash.
How much does it cost for a 1 oz silver eagle and a 1 oz gold eagle and where can i get them...thanks
I made the plunge on Wednesday. The price of silver is down by $1 since I bought but I just see the slight downward turn as an opportunity to pick up more before silver really makes its run to north of $100 :) Just gotta thank Mike for putting this information out there. Continue to allow God to use you to help us.
Does anyone know why the price went from $2.50 over spot to $6.50 over spot for the silver eagles?
Thanks for the encouragement and reassurance. I sold some off to start a new business that has ridiculous profit margins for the short run, but I'll most likely take your advice and put my earnings into stacking. Thx again!
Can you please explain why on the Canadian Maple Leaf 1oz gold coin it shows on the face a value of 50 dollars while it worth more that $1200?
Face value
Top Job I feel everything is falling apart now The time is close
So is it includes Brunei Darussalam as i be living in this country.. It is located in Borneo Island..
So what would be an amount in ounces and price for an emergency to keep you and your family goin with necessities, roughly?
Would someone explain to me the added value of bars from highly recognized mints and government-issued coins during an emergency? Yes there is a steep premium now in normal times that you get back when you sell, but as with numismatics the premium you pay might disappear in bad times because hey, an ounce of silver is an ounce of silver. So why invest in a premium that is guaranteed to exist when you buy but may not exist on the day you sell or trade? (And yes I understand there is some value to the recognizability of the coin and perhaps the implicit guarantee that it is not base metal underneath, but in an emergency folks will get really good at recognizing all sorts of coins, and a coin counterfeiter could create counterfeit coins in any form and probably would prefer to produce the most recognizable forms.)
you're paying a premium based solely on reputation. the value is the assurance that its the best and the insurance that it would be the most coveted.
where can i get the small gold bars and the small coins not the collectors coins the other ones
Poor Mike shifting monster boxes lol
Interesting point 25 Maples or Krugs classed the same & need reporting !
excellent
Mike, If investing $10,000, it is wiser to go silver instead of gold? Since 10k won't go far with gold?. Also, do I want coins or bars? I can get 500oz of Johnson Matthey silver bars on your website for under 10k. Is this the best route for starting out?
@32937isready
Turn around and buy land, guns, food, ammo, or anything else of value.
Do you mail gold and silver(US silver eagle) outside of US? what i meant is do you post it internationally?
i ketp coin gold and money in my old house when it burned and i went back gold was intact while paper money consumed to nothing
gold is forever no matter what!
Dear Mike thank you so much for taking the time to tell us the Truth
Although the video may be boring I do agree with some of the statements made here. You must buy REAL gold and silver, coins and bars that can be held in your hand. Personally I'd have it delivered to my door if I only was buying a small amount.
Do you make international shipping of bullion coins?
Mike, is OPM a good refinery?
Also, would you recommend buying from JM Bullion?
That NBA Guy Josh GoldSilver.com
yeah but its not far on them is will the vat system on silver coins bullion should be abolised
I have too much silver. I am only buying gold at this time.What do you do with those worthless dollars when someone buys silver or gold from you from you?
I believe, and hopefully he corrects me if I'm wrong, that US and Austrian coins are guaranteed quality and don't require them to report it, but with larger quantities buy reputible bars from dealers with the guarantee stamped on it. I was confused about the same thing.
is silver better than gold
@TWSceptic Is there no way to buy it at market value?
Can I buy it in the UK?
BTW, gold price has just gone down from 1800$ to 1500$
What about taxes?
is it only the US dollar that will collapse soon or is all the world's fiat currencies doomed? How are other currencies going to be affected and when?
sell below the threshold so no need to report to the IRS... arrrllllrighty then!!!
Just pass that VAT price along to the next buyer.
Your buy back is much lower than the sell price. Doesn't that mean you're over charging for gold? It seems you're charging over the current market price.
Of course the ETF's suck, because if they default then your screwed. And actually , Mike the Maple leafs are .9999, very pure.
@THESHADOWATCHER
I have some 999 CML coins and I know they also sell 99999 CML coins now. I think the 9999 are the most common though.
Mike, what effect could this Cypress situation in the next few days have on our country/our people's economic psychology, if Cypress can't pay? Or, I wonder, will anyone over here notice...
Excellent Instructional Video.
I started getting into the idea of gold and silver exchange just a month or two ago. Once I start making some money, I hope to start investing soon. Thank you for this.
P.S.: You need to edit the link to your site.
I agree overall about silver and gold, but disagree about the 90 percent. It usually has the lowest premium and when silver will be used for barter it will be useful for small purchases. Say like buying a soda, using an ounce will be like breaking a fifty and believe me you'll get your change in greatly devalued fiat not silver!
Of course the ETF's suck, because if they default then your screwed.
around the 8 minuet mark you discuss how challanging it would be to do simple math. What I mean is you say the radio announces the "per ounce price" and the gas station attendant wont know how to divide the per ounce price to a lesser amount if you had a silver dime or quarter. It is simple math for simple people. Other than that I lke your video.
Mr. Maloney, I really love listening to your commentary and have learn a lot just from your youtube videos. It's refreshing to see someone as knowledgeable as you still hungry for more. However, I'd like to ask you to rethink the issue about the junk silver. We live in an age where calculations like this can be done instantaneously with a drop box on a web site or an app on a smart phone in real time. I think if silver skyrockets (as it will), these small quantities will be ideal for trade.
Aren't Maple Leafs .9999 fine silver not .999 fine silver?
All taxes are passed on mate. The one that is excluded from a suffrage will have no concern to abolish it.
@LordDyhalto They will have to charge you for assaying, which means melting them down. Should of bought coins...Damn,-- next time
Error at 5:50 - canadian maples say 9999 silver, not 999 silver.
I support JPM group action!I support this!BUT as long as it is legal to go "naked short" on commodities (unlike stocks where you must find the stock to borrow before you can short sell, can't JP Morgan, GS, BofA and others just continue to "sell" (short) silver that doesn't exist? I've hrd just JPM has has as much as1.5 billion ounces sold short. More than all physical silver in the world! Much like if we tried to buy ALL US dollars.They'd print to infinity! Are we empty the ocean? Comments?
@wigglemaster5000 the price of gold is NOT going down!!!!!!!
I am very disappointed that silver has not done better during the last several months
if you live oversea like caribbean how do you buy
Easy on the Internet from reputable dealer just Google buy silver
i came here thinking about buying gold
Hi Mike,
thanks for this info. What discount do we get for using code 1052howtobuy?
Under a million? Yep - that's me.
When I buy my gold I’ve always bough gold sovereign coins for that exact reason. They’re tied to the English monetary system (as well as never being subject to capital gains tax or VAT), and if gold was ever recalled in Europe (like in the 1930’s in America), I don’t believe they would take sovereign coins
Last sovereigns I bought I got from Braystone Bullion (Google) just because prices/delivery options are usually the best.
Hope this helps,
-JG
For the IRS 1099B form when selling back to a dealer, is that per transaction? For instance, if I sell 999 oz of silver buffalo rounds in one transaction, then hours later sell 50 oz of silver buffaloes, would I get a 1099B form?
I'm under 55 and have lost 1K on gld certs via PSchiff. Have liquidated value and wish to obtain physical units in gld.
My question is, What is the best tax strategy considering confiscation and purchase of physical metal?
Thanks, and I hope you can respond.
thanks alot mike keep up the good work
I don't know why people think that silver is more valuable to hold than endless streams of fiat being typed into a computer.
Is there any reporting required for the consumer who buys more than 1,000 oz of silver or a kilo of gold?
Hello,
I'm trying to figure out the best way to buy gold, silver, platinum and paladium closest to spot price, or as low as possible. So far, I'm not keen to buy because of the hefty commissions the dealers add to the spot price.
CZcams is my university. Mazing
Thanks Mike.
Is Umicore a good refiner to buy?
I prefer HERAEUS or Pamp
The smartest thing to do today is to buy a variety of world currency banknotes (paper money) as an investment, as a collection, as an educational too, as a hobby and as an eye-candy, to hang on the wall perhaps. Those kind of things such as banknotes are hotter right now than gold. In fact I do own a collection of 237 worldwide currency banknotes and some of them went really high up in value in just short 8 years.
@jameshid I don't know. I've heard diamonds have no resale value. Of course, I've never read much on the matter. Any reliable sources I could use for research?
I want to start buying silver bars but should I buy alot of 1 oz bars, or a couple 5oz or 10 oz?
.... so wouldn't buying IRA metals be a disadvantage? I've heard "IRA Approved" being used as an advantage, but I don't see why it's an advantage. I would rather buy and sell metals that don't require reporting to the government. Thanks . . .
@Robert697 Most likey, but if it's not marked then it will be very difficult to sell unless you get it verified which isexpensive.
I have a lot of Valcambi 1kg bars. How do you think those will trade, Mike?
On all silver? or just on bars?
In holland it's 21% on bars and 0% vat on coins.
I wonder if the US postal service collected all the gold from fort knox when it went the other way ;)