How does one buy gold, anyway?

[Mike OTDP]

I'm thinking about squirreling away some gold....but how and where do you buy it? TIA.

[Kommander]

The gold store?

[Aglifter]

Most coin shops sell gold, but you're probably better off going through a reputable/established dealer -- then, you have to pick if you want an investment house to hold it for you, or if you actually want to store it yourself. If you want to buy larger quantities, it's traded on the commodities market, so you'd need a broker.

[MarkD]

My wife prefers that I buy it from a jewelry store,preferably with some faceted stones attached.

[princewally]

APMEX is my usual spot.

Check the yellow pages for precious metals dealers. They'll have better prices and be more informed than the coin shops. Coin shops are pushing numismatics, the PM dealers usually go by a % over spot price.

[Denis]

Surprisingly enough, most banks can sell you gold bullion. They have little 1-ounce ingots of marked five nines (99.999) sealed into plastic bricks. Expect a hefty markup over daily market prices, though.

Numismatists' shops (coin dealers) are also a good source. Buy Krugerrands or some recognisably gold coin. Precious metals dealers (they supply the jewelry trade - see the yellow pages) are a bit cheper.

If you go for jewelery - get bulk heavy-link chain. It's mass-produced on machines, and costs very little more than the value of the gold it contains. If you need to barter against the gold, you can cut it off one link at a time. Get a certificate of its authenticity from the jeweler, or buy hall-marked.

If this purchase is a reaction to the "financial crisis", you might consider other precious metals (platinum, palladium). Their prices are not ballooning quite as much as gold and silver, as most people don't think of buying them against a rainy day.

You could also look at http://goldmoney.com/ They promise to buy gold and store it securely for you. Of course, if they go belly-up, I have no idea how you get "your" fragment of a bar out of the bullion vault.

[Aglifter]

In one of my ancestors journals, he talked about having a "necklace" made up of gold, and cashing in links during his travels... If you are doing things that way... perhaps not the worst idea for travel to bad places -- I'd suggest making it into large links, easily separated w. common tools... or, better yet, kugerrand, etc just stashed about your person...

[arctictom]

I would suggest coins , gold double eagle , Maple leaf , etc .

[drice]

Buy a pan. Find a stream.

[workinwifdakids]

Buy Krugerrands or some recognisably gold coin.

Ehh, am I the only one who thinks this is a really bad idea? The last time I got involved in Krugerrands, these South Africans sent out a murderous hit squad with helicopter gunships and totally destroyed my house. After they killed my hot girlfriend, I went after them and destroyed their house and killed them one by one.

Lesson: no Krugerrands.