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From what I understand, the Canadian Maple Leaf is 100% gold as opposed to the American Eagle/Liberty coin that is .999999 22k. Local coin store has them for $1,609 an oz. which is $20 a coin cheaper than AMPEX...
I'm considering buying gold because:
-I have a portfolio of rental real estate, stocks and cash in the bank. That cash is sitting waiting for buying opportunities. I'm losing some money on the value of it (it is in a high interest savings and CD but still not up to par with inflation).
-I want to keep some money off the books away from government and away from home without it losing it's value due to inflation. Enter the reason I want to buy gold.....
-This has been recommended as a part of a balanced investment portfolio anyways as it does well when the economy tanks. Asset classes don't move in tandem. When stocks are doing well, gold usually goes down (and you use cash to buy more gold). Then when the stock market tanks you cash out the gold and buy more stocks at a discount).
Questions:
-How do I protect myself from getting ripped off even buying from a reputable gold coin dealer in Bellevue? What is a foolproof way to test the gold?
-What is involved in selling gold, will a dealer charge me a fee to buy back?
-I looked into AMPEX online to buy gold but the shop in my area is cheaper and I'd rather not have it shipped.
-What are some of the risks of owning gold?
-Is it better to keep in safe deposit box or look into...alternative storage solutions...
I'm considering buying gold because:
-I have a portfolio of rental real estate, stocks and cash in the bank. That cash is sitting waiting for buying opportunities. I'm losing some money on the value of it (it is in a high interest savings and CD but still not up to par with inflation).
-I want to keep some money off the books away from government and away from home without it losing it's value due to inflation. Enter the reason I want to buy gold.....
-This has been recommended as a part of a balanced investment portfolio anyways as it does well when the economy tanks. Asset classes don't move in tandem. When stocks are doing well, gold usually goes down (and you use cash to buy more gold). Then when the stock market tanks you cash out the gold and buy more stocks at a discount).
Questions:
-How do I protect myself from getting ripped off even buying from a reputable gold coin dealer in Bellevue? What is a foolproof way to test the gold?
-What is involved in selling gold, will a dealer charge me a fee to buy back?
-I looked into AMPEX online to buy gold but the shop in my area is cheaper and I'd rather not have it shipped.
-What are some of the risks of owning gold?
-Is it better to keep in safe deposit box or look into...alternative storage solutions...