Where to go for gold and silver in Eugene?

[Mr.B]

I have finally talked the wife into purchasing a small quantity of PMs. I have found a few online vendors that seem promising, but would prefer to keep my money local if possible. Just want to know where to go to be treated fairly. There are only a couple of places locally, and was hoping someone has had dealings with them and could give me some input. Also, approximately what should I be paying above spot price?

Thanks,

B

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[tbtravis]

You might want to check out an article on marketwatch.com on golds recent significant correction. Do your due diligence before you spend much money.

All the best,
Tom

 

[Burt Gummer]

'Corrections' as in the bankers printed up more highly leveraged paper certs to suppress the price and prop up Bernie Lomax (the dollar).

Great buying opportunity; silver even more so. Use Apmex.com pricing as a guide. If they are close to those prices it is a good deal. Generic coins, .999 marked purity are the best choice for silver.

If buying silver or gold from a private party an earth magnet is the easiest way to spot a fake. Neither will have magnetic properties if real.

 

[nforest]

If it were me, I would not pay more than spot price. The highest I have ever seen given for PM was 90% of spot to someone wanting to sell. (the local buyers usually give you 60% of spot) I would also not be buying PM's now that the market is so high. Buy low sell high. When you see all the ads and press about buying gold now, its because you are buying it from the guys that bought it cheap and are now selling it. I personally would consider buying again at these prices Gold $400-600oz, Silver $12-14oz.

If you really want PM's my recommendation is to buy silver chains (used .925) off Ebay, being careful of the listings for fakes. FOREIGN coins that are 90%+ silver that are obscure( you have to know what you are buying)

my $.02

 

[NuthinFancy]

I personally would consider buying again at these prices Gold $400-600oz, Silver $12-14oz.

So, you expect gold and silver to drop up to another 75% from where they are currently? Bold...

 

[Mr.B]

I really appreciate all the input so far. Not really doing this for investment purposes. Just figure a little diversity couldn't hurt. And from what I am seeing, now seems like a relatively decent time to buy. I am still a little hesitant about gold, just because of the amount of $$ per ounce. I'd really hate to buy, and have it lose another 500 bucks per oz.

 

[bryan]

nice coin shop up willamette st. 50-60 over spot for 1oz gold. cant remember how much over on silver.

 

[nforest]

So, you expect gold and silver to drop up to another 75% from where they are currently? Bold...

Eventually yes, while our economy is in trouble, No.

I believe that the value of gold is fairly static, its the value of the American Dollar that is loosing value and makes the market value of gold skyrocket. I don't think of it as gold is worth $1800 an ounce, I think of it as it take 1800 one dollar bills to buy an ounce of gold now.

 

[NuthinFancy]

Eventually yes, while our economy is in trouble, No.

I believe that the value of gold is fairly static, its the value of the American Dollar that is loosing value and makes the market value of gold skyrocket. I don't think of it as gold is worth $1800 an ounce, I think of it as it take 1800 one dollar bills to buy an ounce of gold now.

I admire your faith in the U.S. economy to come back, although I do not share it.

 

[nforest]

I admire your faith in the U.S. economy to come back, although I do not share it.

I don't have a bunch of faith in the U.S. Economy, I just was trying to explain how I don't think the price of gold goes up and down, its the fluctuation of the Dollar that you are seeing in the "current price of gold".

It may not be "our" current economy that comes back, however eventually PM's will take less hours of work to purchase.

 

[djthemac]

Eugene coin on Willamette street charges $1.50 (IIRC) per oz over spot. If you want silver rounds they have a big box they will pull out that you can pick through. There have some nice rounds, englehard, sunshine etc. They also have ASEs if you want to go that route. One thing to consider however, is if you want this as SHTF barter silver it would be nice to get silver from a well known mint ie ASE/sunshine/apmex/scottsdale/englehard. Eugene coin does not stock bouillon specifically from these mfgs, rather they buy what people offer to sell them. I would consider calling in to gainsville coins or apmex to get well known mfgs.