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Buying Precious Metals

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Where should I go to buy precious metals? Is there a central place for this, like a stock/metal exchange? Or do I just have to go around and ask anyone who works with jewelry?

For the record, I am not looking for gold.

Pool accounts - www.kitco.com

Bullion stored - www.bullionVault.com

Perth Mint certs - Kitco again as a dealer only

Alternatively there are ways of owning bullion without actually taking possession of the metal. There are ETFs that can be bought on the stock exchange which are basically a share in a large holding of a particular metal - such as (SLV) silver or (GLD) gold.

  • Author

I want to physically have the metal in MY safe, not in a safe in Zurich.

Alternatively there are ways of owning bullion without actually taking possession of the metal. There are ETFs that can be bought on the stock exchange which are basically a share in a large holding of a particular metal - such as (SLV) silver or (GLD) gold.

All of the 3 I list also are ways of not taking delivery..

Should also note that SLV and GLD are not a guarantee of having a 'share of the metal' as they seem like.. They are ETF's designed to mirror the price of gold, that doesnt mean theres xxx amount of ounces in a lock box in a vault with your name on it. A very slight but notable difference.

I want to physically have the metal in MY safe, not in a safe in Zurich.

Then it would depend on what metal your after and if you need it in coinage or what ??

There are bullion exchanges in many major sities but am unsure what issues (aside from security) there would be bringing them into or out of Thailand.

I just checked and HK is listed as one location I can redeem the Perth cert for physical metal instead of nominal currency.

Perth certs are bullion like enough for me. No risk of theft or loss.

  • Author
Then it would depend on what metal your after and if you need it in coinage or what ??

Palladium in any size, form or shape.

Rhodium in any size, form or shape.

Perth have Plat but not Palladium IIRC..

Kitco do Palladium pool accounts.. My little brother took a couple 100k USD of them a year or two back :o..

Really cant help any more than that.. I dont look for physical, to much risk to keep secure.

  • Author

How do pool accs work? And how do you know that they actually have the amount of metal they have "sold"?

Kitco is a private company.. Its well respected but as you say theres that element. However what many people dont know is if a bank fails, if you have metals stored in the banks vault storage even if they are 100% yours, the bank has the right to include assets held on deposit in its own assets in a run on the bank !! Just by storing your gold in a bank vault you accept the risk that the bank may fail.

Perth certs however are backed by the western Oz government and are audited to make sure they hold 1:1 your gold with no liens or outstanding credit. Perths certs are REALLY safe. If your more worried than that you really need to be investing in ammunition and sedatives !!

  • Author

Darn, they don't stock 7,62 at my local 7-Eleven in Hua Hin. But the local bar has plenty of sedatives.

But thanks for the info anyway :o

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