Buying precious metals, page-11

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26/09/17

06:17

Post #: 27451593
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Originally posted by dub ↑

Hi Bradly,

I've been very interested in gold and particularly silver for more than 15 years ... made my first small buy in 1999 or 2000 I think.

The mandatory reporting limit is Aus$10,000 up - or at least it was last time I checked. If a person buys at least $10,000 of precious metal in a purchase, the seller/dealer is obliged to notify the Oz Gov.

For the first few years of buying, I sought and bought only proof silver coins of limited edition and they are expensive. Bad move on my part. Very!!!! I should have just been buying bullion.

Boswell, you'll find gold and silver threads on the 'Commodities ' forum. Gold is discussed fairly frequently, silver much less so (few people bother to post on silver).

I hold both (plus a tiny amount of platinum) ... but I believe that silver is the far better investment for the long term.

I'm a bug, don't trade and in fact have never sold any that I've bought to date. I did swap a 2 oz kangaroo for a 5kg silver ingot in 2003/4 .... but I was naive in those days and now think perhaps the 5kg silver bar is bogus. I haven't bothered to have it analysed yet - can't see the point - but obviously will before/if I go to sell it. (At the time, the 2 oz gold and 5 kg silver were each worth $1300.

jfi

ps I just deal through Ainslie Bullion now.

dub

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Hi Dub

To me the big difference between silver and gold is the storage.
1 Kilo bars of silver present many more (physical) challenges than a one oz ingot of gold

I prefer Gold Bullion Australia with good service and fair prices
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