Don't Get Ripped Off Buying Gold And Silver - Follow These Tips!
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- čas přidán 3. 09. 2023
- I was recently asked by a new stacker, how to buy gold and silver without being ripped off. This video goes over some historical context and gives viewers some tools to use so that you can mitigate any future loss or at the very least getting a good deal. Quick shout out to @SilverHeist
I stack gold and silver to hedge against our debt-fueled, fiat currency-based economy that I am convinced is in severe trouble. Consider stacking silver and gold yourself to help you build and preserve wealth. And thank you for watching Campbell’s Coins!
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Campbells
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DISCLAIMER: I am not a professional financial adviser, nor do I offer financial advice. This video is for entertainment only. Please consult your investment and tax experts for financial advice. I am a participant in the Amazon Services LLC Associates Program and B&H Affiliate Program, both an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites. Some of the above links are affiliate links where I may earn a small commission at no additional cost to you.
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Topics Discussed: how much should gold and silver cost, don't get ripped off buying gold and silver, how to avoid being ripped off, how to not be ripped off, gold and silver, best deals for gold, best deals for silver, buying gold, buying silver, best deals for buying gold, best deals for buying silver, spot price, ripped off, silver stacking, investing in gold, gold bullion, buy silver, buy gold, silver bullion, investing in silver, gold stacking, tips for buying silver, tips for buying gold
This is legitimately the best and informative video about precious metals I’ve ever watched from anybody .
Thank you very much! Appreciate you watching!
Eggzackly so brudder Citizen
Speak the truth brother!!!! These bullion dealers padding their spot prices and taking advantage of new stackers!!
I'm sure they're out there, but that is not necessarily true. Coin and bullion dealers are different from one another they get bullion in several different ways and sometimes they have to buy just like you do then place an additional premium to make a $.75 profit, this is the new age everything goes up and as you've noticed businesses have been passing the burden onto customers in every industry ie using your cc, so I wouldn't complain too much.
@@CuSTACKS this has nothing to do with premiums. The spot price they going by has been padded upwards in favor of the bullion dealers per what Kitco posts
@@silverstormienormie6146 I understand what you're saying I was just adding to what you were speaking about. They run off their own spot to hedge and to make a profit. You can't blame them for making profits. If you don't like it shop else where it's simple.
Caveat emptor
That's so true spots were charging
$4.89 - $5.40 over spot an ounce this is crazy! This is so true, Thank you for this very knowledgeable!
I've been stacking for almost a year. Dude, this video answered almost all the questions I've been pondering. Thanks, bro! 🤙🏽
Happy to help! Thanks for watching!
Always thought it was crazy with the mark ups over KITCO spot price! I do a lot of buying from my LCS's, but when I shop online, I prefer Monument! Great info, thanks!
Same! $30 over Kitco spot for gold is ridiculous. Then they increase the premiums on each of their pieces too! Thanks for stopping by! 🙏
Very informative video. I pay attention to the spot but when you only have one LCS in the area I have to be careful not to spend too much. I buy to hold. 👍
super good information. I'm a good buyer on silver, but not gold. But that is because I am buying gold to keep and the beauty of the piece. All my gold pieces make me happy, money well spent.
Right on!
Thank you! Very insightful video.
Another informative video. Thank you for sharing the knowledge and experience!
Thank you sir! Your support is always appreciated.
Thank you for all the actual information, very informative and very honest.
Glad it was helpful! Thanks for stopping by!
Great perspective born from experience. Thanks for the shoutout.
Any time!
Intel is priceless. Thanks C.C.
It really is! Thanks man!
Fantastic video as always. I really can't stand these larger channels where it's very apparent they don't know what they are talking about. I'm shocked most viewers can't see it. Glad to see they made it on your tip list. You are a diamond in the rough and it's surprising your subscriber count isn't higher. Damn shame.
One of the best videos I have seen on gold and silver. Great job!
Wow, thanks!
Bro!!! As long as I’ve been stacking I never knew the bullion dealers mark up spot higher than Kitco! WTF! How have I never noticed this? Ugh! I need to compare Kitco to Hero and Bullion Exchanges, but I suspect they’ll mark up too. I do think a silver shortage is coming, but not within the next year or two. IMHO, the biggest variable that’ll effect precious metals will be the banking industry. But who knows. We are living in very uncertain times now. I love that ASE premiums have dropped. My fractional silver is my 90%…. Lol. Another phenomenal video bro. One of your most educational. Well done.
Thanks Triple P! Yeah, every dealer does a mark up but some are a bit excessive. The problem nowadays is we can't point to just one variable as the problem. So many things are rotten to the core, it could be one of those or a combination of them which triggers events. Unfortunately, bailouts will probably occur and the cancer continues thriving. Thanks again man. 😎
Not a get rich quick scheme but a saving hedge against the declining dollar. Think of gold as holding wealth and not making money although it will probably keep appreciating while dollar declines.
No No No, its not the DOLLAR, its all FIAT currency 👀
Amen, YOU finally answered my question about kitco price versus Apmex,JM,Monument spot prices… Awesome informative video… Thank you…
Glad it was helpful! Thanks for watching!
Good show sir. 🤜🤛
Thank you kindly! 😎
Always love your common sense approach. Thanks again, Mr Campbell 21:17
Very welcome. Thank you for your support! It means a lot 😎🙏
Great video. After 14 years in the stacking I did not know it about the online dealers spot. You always learn something new. Personally I have not bought from them for many years. Nowadays I do just transactions with individuals through online stacking communities and in person. This way I assure the premiums over spot are minimal on most products and occasionally I get a spot or below deal on 999. Have been buying more Sterling and coin silver products if I can get it below scrap value that is below 90% of spot.
Thank you!
Excellent content, good advice on premiums and dealer add on spot price.
Thank you for the great advice.
Knowledge is powerful ammunition.😅
My pleasure! Thanks for watching!
Good stuff. Another spot delta dealers use to their advantage is bid vs ask price when buying from or selling to you.
Thank you, Campbell coins. I have seen the Bullion dealers have inflated spot prices, and did not understand why.
GREED!
New subscriber, thank you for the valuable information.
Happy to help! Thanks for the sub!
Good video. I've learned a few things over the years myself. Much of it, the hard way.
Thanks for watching!
Great show
Great video, liked and subbed. New stacker here, Bought a Sigma first thing to make sure Im not buying fakes. Luckily, I found two local sources to buy from that are very reasonably priced. recently picked up a one ounce gold Britannia in BU condition for $50 over spot. It pays to shop around.
I always enjoy and appreciate how well you put out excellent information. Thanks!
Thank you very much! Appreciate you stopping by! 🙂
Yo. What's up Cash!?
Hello! @@constitutionalstacker5701
Great video. Learned something. Thanks!
Thanks for watching!
Very informative thank you
Thanks for sharing
Nice comparison of dealer spot $. Those so called experts prediction is like "even broken clock is twice right everyday". Then they will tell "i told you so....".
Haha yup. Thanks for stopping by!
There is some dude named Yankee that is all about “doom & gloom.” It’s pretty sad really.
Ohhh yeah. Many pander to their audiences' fears and outright lie.
Bad ass! Thank you!
🙏
Great Job Campbell
Thanks Edward!
I appreciate that you don’t have any dealers sponsoring you. It keeps you fair and objective.
By the way, that’s a beauty of a St. Gaudens you have. Do you recommend XF, AU or BU?
I honestly don't mind people having sponsors. I have non dealer sponsors and it's one way I make money so that my audience doesn't have to pay me to view my content. I don't mind that people have dealer sponsorships either. The part that bothers me is the fear pumping with the pitch at the end to buy from such and such dealer. I find that so sleezy and dishonest. Thanks for your support!
The St. Gaudens on the screen is actually a 2009 Ultra High Relief St. Gaudens commemorative. She's thicc. For pre 33 Saints, go for AU or BU if you can. Premiums should be coming down.
@@CampbellsCoins the premiums are a bit higher right now, unfortunately. Just curious, is it just for the pre-33’s or is it everywhere? I presume just the pre-33.
On the fear pumping… yeah, it’s getting old. Ethically, people can do what they want. But I’m not playing into that game anymore.
Great and informative video!
Glad you liked it!
One way to buy at spot price is if you find someone who wants to sell their gold and silver, whether at a yard sale or an estate sale, when you meet these people offer them the same price a pawn shop would offer them which is spot price or a dollar or two under spot price unless its an American Eagle and certain other coins or bars which commands a little more of a premium price.
Great video !!
Thanks!
some good points
First I check the spot price, then I check Jm bullion, Money Metals, add Bullion. I have done business with all 3 . Then I go to a dealer and ask for Hoheit best price. After visiting a same coin shop ( LCS )several times , I get a discounted price each time .
Great information 👍🏿
👊
Started march 31 this year when silver eagles were 8 over spot at the lcs and watched them rise. Most has been through monument since then. Ive found their prices to be better than the local coin shops in my area especially if they have sales which they always do. I have a mix of rounds and sovereigns including high premium coins like kookaburras and libertads and some high premium rounds as well at an average of 28.50. If i wouldve purchased all of that from the lcs my average would be more like 31 or 32. Picked up some 1/10oz gold for a premium that would equate to roughly the same price as a full oz because i bought during a sale. But i have had a few hard lessons learned that im glad i figured out early
I have ordered from several companies and I find the 2 best mail order bullion dealers are Bold Precious Metals and Hero Bullion. They are easily the 2 least expensive and their service is as good as any.
Simple wisdom Thank you
Very welcome!
Good video, thank you 😊
Glad you liked it!
Great video CC! very important to do your own homework before stacking metals!
You got that right! Thanks bro!
I know some people will pounce on this comment, but I’ve made my first 3 pm purchases in the past 2 months and all thru APMEX and each purchase over $200 for the free shipping. Everything I’ve purchased has been in the deals section where I’ve been very comfortable with the prices I’ve paid (minus one 1/10 platinum coin which I bought because I knew if didn’t buy it, then I’d probably have found a way to waste the money on something stupid anyway).
Good that you're comfortable with what you purchased but DO shop around. Several times I've caught them inflating prices by hundreds of $$ over what I purchased at Monument Metals. Seriously!
Just looking at their eBay account it's 💯 obvious they take advantage of newbies. It's blatantly obvious when you start to look at $10 or more face value junk silver lots
@@xymoriintusI noticed that too
😊Thanks for sharing 😊
Thanks for watching!
great video... thank you
Thanks much!
Well Said 👍🏻
🙏
Just started stacking real new.🤑 I have gold kurrgerands and gold sovereigns and a bunch of silver and I am looking to invest in more. I am looking for the next hit like on gold. It’s all in a safety deposit box this is a big help ty
I buy from a great local dealer and paid alot less for the same stuff then I found online. Plus I get great info and get to look at it before I buy and that is as much fun as buying almost😊
Whenever I buy silver and gold, I consider how easy will it be to liquidate
Can I assign a gold badge here?! This information is priceless.
🙏
As always, well done.
The fact that every dealer has their own spot price has always befuddled me.
I mean, like, what the heck 😕
However, I've been at many coin shows and LCS,s that use Kitco as their source.
As do I.
Thanks man! Good dealers use Kitco. I've seen a lot of Instagram dealers base their spot off APMEX! Crazy stuff. Always appreciate you!
Great video, thank you. You mention a 3 - 5:00 over spot as reasonable for silver, what about gold.
Also being a Canadian we have to deal with the outrageous exchange rates. Should this or does this figure in the equation. Great day to you all.
Thanks! I mention gold averages but you're right, I didn't list a reasonable spot price for gold. I avoided this because of all the different sizes 1 gram to 1oz and it's just too much to cover. Most people buy 1oz silver but few buy 1oz gold. Another great point you're making is in relation to outside the US. This channel typically covers US only but you should factor exchange rates if you're dealing with them. I don't know how much those fluctuate to comment one way or another. Are you contending with exchange rates buying at an LCS in Canada or just online purchases? If it's online only, I'd try to find a good LCS. $50-$100 is typical for 1oz gold. It varies wildly for the other sizes.
I have always wondered why the spot prices online are so different from the actual spot price. But unfortunately, in southern California, online dealers are much cheaper than any LCS I have been to.
It's unfortunate, but there are certain areas in the US where the online option is cheaper. I'm sure a lot of it is due to their rent.
Thx for a little reality check. Iam fairly new to gold stacking and I no I have allot to learn
Getting a good price is really important but what is critical is buying a reputable dealer. You gotta make your your gold / silver is really the actual metal
I remember buying 1/4 oz gold ML for $20 above spot
Coin collection vs stacking is very much like a casino gambling. You think that you are getting a fantastic price for a relatively common coin. It turns out that the coin was actually harshly cleaned coin and, though it looked like a brand new shiny penny, but because of the treatment it had, it was worth substantially less than the book had the price for a “ real” coin that had not been abused in any way.
New subscriber 😊
Thanks for the sub!
Hi I like your thoughts and Opinions !!! NO DEALER #1 you pay tax with Online dealers you SHOULDN'T because it's a trade for money for money. #2 you pay ( SHIPPING FEES ) with rips you off !!! Local coin shops only !!!
Best way to to buy g or s is stocks gld or gldj slv etc keep a few hundy silver rounds and some krugerrand
One LCS near me goes by Kitco and he said due to overhead it’s tough to match online dealers
It can be for dealers in certain regions of the US, due to rent and insurance.
Almost all ads with double digit rise over spot a gold, silver, platinum and lastly palladium. All I can say to you is that you should take a few minutes and check out what some of the other sites are offering these precious at what price they are selling their precious coins / rounds and a
bars for over spot. You have better already made a list of the places that you visit, the prices over spot for ALL precious metals and coins. Make sure that you get as comprehensive a list of coins/metals and and also any other things that you might want to buy.
Make sure that you are checking apples to apples to ensure that you are getting a good list for comparison.
Absolutely.
Ive used monument and been happy.. recently ive been using the bullion exchange to compare.. then pull the trigger. Would you agree that site is a benefit to us stackers? Thx for the video
First, I have watched many of your videos and enjoyed them all. This video started out discussing SPOT prices and how they differ from online dealer to dealer and I too have noticed this BUT... I really don't look at this to find the best price among the dealers I frequent. Every dealer I frequent has their sale price listed by quantity being purchased, usually "qty price" 1-4, 5-10- 20-99 etc. THIS shows the price I will pay so the "SPOT" price on their web page is really meaningless. Last week I bought four gold buffalo coins at $1917 each and THAT is what counts to me so "SPOT" could have been $5 for all I cared but I PAID $1917 apiece which was the cheapest deal of those I frequent on that day. I've been buying for two years now so I may be missing something, if so could you please set me straight. Now I must go and watch the rest of the video 😀 P.S. I have 5 dealers bookmarked since I have learned that none of these will beat all the others all the time on any given day. My spreadsheet of purchases shows an even mix among these dealers so I NEVER just visit one site and order.
Appreciate your support! I was merely pointing out how dealers deceive their buyers buy adding additional premiums. You might find the lowest price online but it still has a hidden premium on it. What really pisses me off is how dealers create their own spot price instead of using the market value. I hope these was what you were seeking clarification on. Regardless, happy Thanksgiving.
Just started stacking silver Aug. 10, 23. All from ebay. I've already got over 6k and over 253oz so far (Aug. 10 to Sept. 1 count). It's fun and interesting. Just hope I don't have any fake ones. Better than it just sitting in the bank. Value already gone up on some. Probably not gonna break even anytime soon. Wish I started 20yrs ago. Might have had 500k of silver if I started in the late 90's.
Congrats on starting!
lots of fake on ebay. be careful!!!!
Yeah you may wanna slow down and check some of your product haha
@@goose33 most I got from the big names, like Apmex. Just the old antique vintage little stuff from individuals. They all look real so far. I'll prob take a few in for testing.
@karltaylor5643 oh ok good! Haha I thought you were getting off regular sellers
Looking at all the precious metals CZcams videos out there, everyone has there own idea of what is going to happen to gold and silver. You watch 50 different videos and get 50 different ideas of what's going to happen.
It is $100 above buy price in Canada.
#1 Rule...Silver is to be viewed as INSURANCE, if you want to speculate Go to the horse track young man!
Wazzup Alfred?
What year is your saint-gaudens? I just got back into a coin collecting / stacking in 2023 I started with $5000.00 my first gold ounce was a 1908 un-slabbed no motto saint-gaudens. I guess about two months ago it was $2100.
It's a 2009 ultra high relief commemorative from the US Mint. Thicc coin. Very cool man!
ring test, weight, tester, xrf, but best, the eye test.... and if the price is less than spot, walk.. Call around and the dealer markups.....
What is the difference between bid and ask on Kitco, which one is spot? Kitco 22.52 and 22.62 while SD is 22.65?? I buy a little locally from time to time but have considered internet also.
1000%
Great video. Won’t say any names but a lot of these big “stacking” channels peddle that doom and gloom
Thanks for stopping by!
everything was cheaper on sd bullion for me in comparison to kitco, plus kitco mainly ships to canada for most their items
I just use Kitco for their charts, not to buy. I agree, SD is a better dealer.
"Fear Sells"
100%
What percent over spot is a fair number for Silver eagle? 5% or lower?
metals is odd because you have retail buyers thinking in terms of a spot mid price as if the bid/ask spread isn't a thing - there isn't an asset class out there in the investment world where you just wade in off the street and buy at mid.. the smaller you are the worse your price is as the the price offered tends to improve with size. Many online dealers will post the value they buy back at and if they don't I would avoid.
Good point
If you live in the UK avoid Silver. It comes with a 20% VAT load.
100%
Ok so when looking at the Kitco Price for let's say, Gold ... which is actually spot? The Bid or the Ask? Can you explain the difference between Bid and Ask?
Good question because it gets a little murky. Bid is the price a buyer is willing to buy at and the ask is the best price a seller is willing to sell. These seem contradictory and it doesn't represent the purchase price most of us buy at. Buyers will definitely use it to their advantage though and price their buy backs under it.
Looking to get 1 gram gold bar, some goldbacks and 3 or 4 1oz silver coins. Saw Empire Metals (youtuber) have his goldbacks verified to have gold, by putting them in a XRF microwave. And they do contain gold.
...mmm? KITCO, is not exactly cheap(er) however, Michelle Makori is smoking hot.
Looks like it will be between Monument Metals and BOLD precious metals as best priced, selection and both have special deals now that are waaay more competitive than most other online dealers.
Both are good
Kitco isn't cheaper, I only mention their spot price graph, not their store.
Hero and Noble have the best prices for silver
Some say that these dealers Spot Price covers the CZcamsrs bonus for referrals.
Pretty sure I mentioned that here haha.
Supporting local business is one thing. Supporting the grifting coin shops around me is quite another. Im not selling 2 under spot on silver just to buy some for a 15-20% mark up
15-20%? Who are you buying from? Most shops run on very small margins.
@CampbellsCoins I'm just buying from dealers off of Ebay currently. I can use my credit card without additional fees on my end and I can offset the premium with my 3% cash back. The guy I went into offered 700 per kilo but on website was charging over 800. And taxing sovereign like it was 2022 or something.
Is the Scottsdale silver stacker 1 oz a good choice ?
Not my favorite. Fairly high premiums at times and you don't get that back from an LCS. If you want to buy non government bullion, I'd buy the lowest premium piece.
I bought silver off eBay I am waiting for it to be delivered
Just buy at spot… be patient
Which state is home for your business?
Dealers are not the way to buy or sell . Hope we never have to trade between our self
What do you think about 90% silver it seems to be getting rare premiums
I used to be really into 90%. It is fractional silver which would be good for barter. Over the years, I've come to the conclusion, I can still barter with 1oz silver eagles or equivalent and get 90% back as change. The really old 90% is cool due to collectablilty (unsure if that's a real word haha) but the price of these pieces is much higher. I think I need to do an update video on 90%.
Can’t afford gold So I buy silver.
I prefer Eagles, but when Eagles get to expensive. I buy Maple Leafs, rounds , or bars.
so where do you think is the best place to buy online?
Monument Metals.
I cringe at the mention of the big YT channels that push their ripoff sponsor's name! While I occasionally buy from my LCS, I am a steadfast frequent purchaser at Monument Metals thanks to you. My LCS's premiums tend to be too steep at times.
I've heard about steep LCS premiums from a few other folks. Maybe, I'm just lucky? Really can't go wrong with Monument. If I didn't have my LCS, or the other LCS's across the country I've bought from, all my purchases would go through MM. Thanks for watching!
@@CampbellsCoins Always a pleasure watching your vids! Got my LCS owner's attention fast when he had ASE priced at $36 and I let him know MM had them for just under $30 last month. He was concerned they were fake and offered to test them! LOL
@@barjer54 Haha wow. Seems like he didn't get the memo premiums were dropping. But that's the problem, all these LCSs know when premiums drop, so he kept them up on purpose. That's too bad.
@@CampbellsCoins I've let him know in subtle ways each visit that I'm not blind or stupid! He's been in business for 42-yrs.
Where I live we have no LCS.
Same. I found a good LCS a few hours away and they ship me my orders.
There are some in near by town but do not know if they are legit.@@CampbellsCoins
iv only bought from sd bullion
Been seeing and smelling dealer greed for some time now.
Their like a casino ! The dealers are the ones winning big ,now ,and in the end.
$100-$200 premiums over spot lol !?
$3.00-$10 for silver over spot !?
Lol.
Better luck at winning the lotto ,for a profit ,at such prices !
Think they call it “greedy premiums”lol
Just the way it is right now. The only way to beat this is buying private party but shops may be willing to offer them more and buying private party has its own inherent risks.
While watching this video I did a check after his Monument Metals mention…They were not the cheapest ! I did a simple generic 20oz roll comparison. They were 26$ higher for their cheapest 1oz round roll compared to another. So, you need to shop !
Who was the cheaper online retailer?
I have been buying each of the komsco Korean metals Chowoo and Zi Sin … this year I have wondered if I should continue to series I’m already six deep into it. The premiums a little bit high right at eight dollars over spot.
If you like it, who cares what the price is at. For stacking I wouldn't, but if you want to collect, why not?!
@@CampbellsCoinsthanks, and yes the closer these coins get to my ‘uncomfortable zone’ I start shying away. As I am now, I hate I’m this far into the series. But I have limited the number I buy now that it’s a bit more expensive. In the beginning I bought 5-10 of the first releases, but lately it’s been 2-3
(just curious, is it a prize thing for you as well?) thanks