Gold Buying Advice for 2024
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- Опубліковано 25 січ 2024
- This video is meant to help detail how to get started buying gold. Whether you're a beginner or you've been at it for a while now, there's some very specific advice that is easily lost in the excitement of buying. This video is meant to help you confidently get started buying gold. If you'd like more detail, here's a prior video with more detail: • How to Buy Gold - Star...
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Disclaimer:
All content here is for entertainment purposes ONLY. Nothing I present shall be considered finacial, tax, legal, insurance, or other advice and may be outdated or inaccurate. I am not a financial advisor and am not qualified to give financial advice. I'm just a guy on the internet, talking about precious metals.
I will NEVER ask you to send me money to trade or invest for you. Please report any suspicious emails or fake social media profiles claiming to be me.
Some links in the description may be affiliate links and lead to commissions from qualifying purchases. If companies, products or stocks are mentioned, I may receive payment or other consideration. DO NOT make buying or selling decisions based on these videos. It is your responsibility to do your own research and verify all information. If you need advice, please seek out a qualified professional.
Thank you. I appreciate your support!
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@Wilhelmina-Luisa That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@Wilhelmina-Luisa I will give this a look, thanks a bunch for sharing.
My goal for 2024 is 6 Oz. I went pretty hard on gold in 2023.. Picked up 22 Oz of gold and 1 Oz of platinum.
Nice!
Damn thats a lot that's bad ass
That awesome!! Always have a goal no matter how big or small.
WOW, 22 oz in 1 year!? Had you put that into an S&P index fund (even just $10k) you'd have had a 24% return. That's ~$12,500 now after just 1 year. In the form of gold, all that money is essentially frozen and cannot work for you. Some individual securities I acquired last year did even better. Happy stacking!
Great channel!
@@AurumAura31103 you know gmanEVO just said he did that in 2023 he didn’t let us know about all the properties he acquired in 2018 and how those have risen drastically or that he also invested in Bitcoin in March of 2020 when it was $3,000.00. He just gave us a glimpse into the wealth he froze in case all else fails. You never show your whole hand.
Instructions unclear, ran out of money 😔
Same 😬
Sounds about right I'm not getting 12 oz.
Get money, upgrade to gold.
Hahah
Impossible buying gold 😂
Been watching your channel for a year now so still new to this. This video really helped put things in perspective. I find it hard to stay patient and buy smart. Trying to stay focused and not get distracted by shiny objects, which is very difficult when dealing with shiny objects.
Ha, it’s definitely hard. When the bad choices are still pretty good, that makes it even harder! 😄 The little mistakes escalate in a sale, though. I learned that lesson the hard way. (By repeating it twice!)
Started with pre-33 in 1994, have been buying 24 Carats lately, adding 4 oz/year, mix of 1/4, 1/2 and full oz, depending on whatever cash my side hustle brings in, as I am 'retired'. Slow and steady wins the race, you will not get wealthy buying precious metals, it will preserve the wealth you build.
Great advice to follow regarding GOLD. I know that I've already taken into consideration a lot of what I've learned through watching your channel once it's come to making my first gold purchases.
This is the best no-nonsense gold channel on UA-cam, thanks again, sir.
Brilliant advice thanks so much
Simple for me in UK, been stacking ONLY full sovereigns and 1oz gold Britannias, perfect😊😊
I’m jealous of your CGT exemptions!
@@2is1gold Agreed. We need more states to declare gold and silver to be "money". If enough states do this, the US Gov *may* follow. Hope so.
Stacked gold (fractional) & silver (1 & 10oz)... I live in South Africa with an extremely unstable economy & decided to liquidate the majority of the silver & only go for gold in 2024.
I'm from the U.K too. Do you not see the Royal Mint's digigold as a good idea for savings in the long term??
@@2is1gold, it may be worth touching up on in a video, even though you're from the U.S. I wouldn't mind your advice on it either. ^
I am aware that the Royal Mint's digigold service is susceptible to cyber attacks, but should that reason alone make me stay well clear of it?? It's worth mentioning that it does attract CGT and VAT, but you don't pay for premiums.
Thank you man very great info
Love the advice on keeping the gold stack simple. I only stack AGEs, Maples, and Britannias.
As to fractionals, yeah, I know that they cost more per oz. but they also give me more. Not more gold, of course, but more flexibility. During hard times,
I only want to sell as much gold as I need to sell to meet whatever needs I might have at that time. This keeps more of my wealth in gold, rather than
whatever fake money currency the US Gov is pushing at the time. IMO, this could be MUCH more important than whatever premium I paid for the
fractional gold coins. That said, my stack is about 75% in 1-oz. coins, 15% 1/2 oz. coins, and 10% in 1/4 oz. and coins, by weight. It's a good mix
and should do what I need them to do.
The end game for this gold stack is to: 1) ensure that I can always pay my property taxes; 2) augment my retirement funds, if necessary; and 3) leave
something for my kids and grand kids that will (hopefully!) make their lives a little better. The gold stack is not all that they will receive but it is the
largest part of what seems likely to be most reliable during hard times.
Great rationale. Cheers!
@@2is1gold Thank you, sir. Love the channel and the outstanding videos. Comments tend to be pretty good too. 👍 👍
1/4 oz gold Britannia are for a good deal at SD Bullion right now. I think about 4.5% over spot. I know gold’s is currently high right now but decent prices over spot.
I am do glad I hit your videos tonight , your teaching me what I need to know thanks. I am a broke guy living almost week to week but trying to buy a few gold coins when I can do yes you have all good info.
I first bought gold in March of 1980 for about $250/oz. If I had bought just an ounce a month, I would have almost 500 ounces now, worth over $1million. If you are young, start your savings plan now.
We need to perfect that Time Machine!
Maples look so nice. I've successfully bartered with gold more that once without issue so that is also an option instead of selling outright.
My 2024 base goal is 1/4 oz Gold monthly.
🤜🤛
Same here, along with 10 ounces of silver.
If on regular basis i can be consistent supply for a longtime
Brother, you are definitely doing it the right way, I started stacking almost 12 years ago, learned the hard way many times, couldn’t differentiate between collecting and stacking and like I said your way is right way and the way for me now.
Good to know. Thank you
One of the most important things you mentioned that many folks ignore is consistency. Probably because seeing a bunch of different designs is exciting.
Find the most liquid coins in your area and make a list of them. Then figure out what you like the most and stick to those. Trust me when I say that having a pile of the same kind of gold is pretty exciting. It's also far easier to sell when the time comes.
Yeah, it's so clear... after the fact. Cheers!
Amen 🥃
"Find the most liquid coins in your area and make a list of them."
Note also which metals are favored. When I dropped in to the largest LCS in my area a few months ago, they didn't have a single oz. of Pt or Pd to sell.
They were 100% in gold and silver. Pt and Pd prices are down, so it's tempting to buy low in the hopes of selling high later. While that might work, it
also might mean that you'll have to sell them online. Not that this is usually an issue but it can cause your sale to take longer and the added risk of
losing a shipment will be there as well. Straightening that out can take weeks or more.
@@edb3877 I know some folks really like platinum but making sure that they can sell it easily is a good idea. Some shops I've visited have zero interest in buying either Pt or Pd. If their customers don't want it they're probably not going to buy it and if they do it's going to be something they resell to their dealer network so they'll be paying way under on it
My LCS likes the AGE over the Buffalo by $50 on buy back, I was surprised
Still here, thanx, I've been thinking this way for a while now. U da man!
Thanks! 🤜🤛
Always uploads when I’m waiting to head into work
Excellent info! I have a few friends and family members I am going to send this vid to.
Fabulous video! This is great info for new stackers and also for seasoned stackers to stick to uniformity and watch the premiums. Best wishes to all!
Cheers!
Started buying scrap jewelry for spot then I started watching you… my safe looks very nice… thanks!!
Great video,more platinum royal arms i hope they produce at a low premium and spot.
2:1 Love your experience of perspective from different investors, ability to produce content and industry standards and insights.
Personally im buying random year 1 oz eagles at spot plus 4 pcnt preems. I love the feel and holding gold.
Cheers!
Good info! Love hearing your strategy. And by the way your videos are the prettiest! 😄
Ha, thanks!
Excellent analysis imo.
Solid video brother!
One of your best videos! 👍
Thank you!
Thank you for great content.
Thanks for watching!
No advised buyer will ever refuse to pay a fair rate for a share of a well-managed, profitable corporation.
💯. Keep it simple
Just subscribed! bought my first 50 dollar silver purchase today !
🤜🤛
Great buying minerals and keep,because its an investment. Incase you want to buy gold in dust form, from sierra leone
I don't have that much money to save in gold and silver, but I will prioritize gold over silver (even with the low silver price). I really want to buy a gold buffalo because it is precious coin.
silver is a sure shot. don't sleep on it.
Buffalo's a beautiful coin. Also pure 24K.
I hope to buy an ounce of gold during 2025.
long way to save enough for an ounce...
@@DrSchor of course I want others coins but the buffalo was my first coin I bought.
Great advice! I only buy 1 Oz American eagles and bufallos for gold so far. Just bought my 2nd bufallo today. My plan is to stack at least 1 oz a year in gold.
Good advice.I have a lot of different coins and bars. I love the buffalo and older eagles.sometimes you just have to get one libertad or a kukerand just to have one or a French franc!!
Great video 👍🏻
Thanks!
Solidly made video.
That CRK Mnandi is nice! Love the box elder work they do
Agreed. They do a great job. Cheers!
Great video brother thanks for the info nice stack of gold 🪙 coins have a great weekend brother 🥃🥃🥃
Yeah, have a good weekend there too! 🥃🥃
Thx bro.
🤜🤛
I plan to buy two 1/4oz gold eagles this year which will put me at another ounce since I've already got two 1/4oz then focus on silver.
Nice
Thanks for the video. I am retired and on fixed income, a monthly purchase of a quarter ounce coin is my only alternative. I go with the lowest premium which is Britannias for now.
Excellent 👍 video 👏
🤜🤛
For a lower premium am considering 1 oz cast bars over coins or rounds, only from Mints like Perth for ease of recognition
Be careful there are counterfeit Perth mint bars out there.
Keep in mind that although the American Gold Eagle may be the most popular Gold Bullion Coin, it is taxable in many regions around the world because it is 22K and not considered "Investment Grade" the same way a 24K Gold Coin would be.
I've been following you a couple of years now. You have the best most informative channel on UA-cam. You always keep it interesting and classy. Thanks
I've been told that the American bullion is almost as disliked as Americans worldwide. Canadian Gold maples are the most accepted.
If I was buying for anywhere other than the States, GMLs would easily be at the top of my list. Cheers!
Sometimes I love buying gold with silver designs it really brings out the beauty of it all, with sometimes less the price
I prefer pure golds
You mean the gold dust or the jewelry form?
Excellent advice. I would advise myself to use the same method starting out.
After a substantial base-stack, I still wander over to collecting different stuff, but that is only for my own entertainment, and not as efficient. But its fun. :-)
Yeah, work before play. 😄
Nice job without all the world is going to end today.
🤜🤛
🥇🥇🥇 😊 gr8 info
Grabbed some Ag when it dropped 10% last week but waiting patiently.
If you are young, gold and silver is your 401k
Good plan!, my goal for this year is 3oz, - 2 1oz coins and 2 Australian Sovereigns and a 1/2oz Lunar Dragon. Perthmint just gave me their catalogue and i am thinking it will be an interesting year for them. Am currently reading - The richest man in Babylon - Great book to get and great amount of information.
Yeah, good book. Good luck with the plan. Cheers!
Great information but the %'s are much lower with Minot Coins & Coinhuskers!!! Your right that the buy sell spread is important to Research! Also the Maple Leafs always seem to be a better value than the AGEagles "but" I'm NOT a fan of Charlie on the back so I'll opt for older ones with Queenie!
Good video...
Thanks 🤜🤛
Great content. I really did love this topic I like a lot of your videos, but this one really hit home base especially with saving toward retirement. I’m very mindful that I spend 10% or under for quarter ounce coins and 10% or less or also the 10 ounce coins.
Thanks!
Sounds about right. I do some numis too but that's a long play.👍🐣
Expert level.
Cheers. Happy Friday!
A youtuber today said the US Mint plans on ceasing production on platinum coins. Doesn't affect me but it's semi-interesting if true. Might have to buy 1 just cuz.
I’m surprised they’ve sold enough to keep it going this far. 😄
@@2is1gold 🤣
I saw that also so I looked on the US mint, totally false "insider info". 2024 APE release is February 8th. Guy probably has a pile he can't sell so he makes up stories. IMO platinum had it's day, it's been replaced by palladium.
Buying with exit plan in mind always is the only way to
I haven't bought any gold (or Platinum) in nearly 6 months... I have been focusing on vintage instruments that have dipped a bit from the hyper buying from the pandemic lock down period. I will start to buy again to complete some tubes" but I am awaiting a drop below $2K... we'll see, maybe won't happen but that is my plan
Well am a direct miner in sierra leone,and if you intend to buy from sierra leone feel free to contact me and ask any question based on mining and buying of both minerals
For me it’s Bullion Sovereigns , Numismatic Sovereigns & 1 or 1/2 oz Britannias if I get some extra money from somewhere!!. The Numismatic Sovereigns, especially modern can be bought for a few percent over spot and who knows how valuable they become in the future
Are you in the UK?
@@2is1gold yeah UK so my choices are more based on location & availability 👍🏼
would you happen to have a discord by any chance? thanks for all of your content
Sure do. discord.gg/yBP33yh7WG
What’s your view on the 1oz gold Scottsdale mint napoleon coin/series in general? I’m debating picking up the 1oz.
Forget about platinum. I bought gold at $1138 when platinum wasn't much cheaper. 9 years later gold has almost doubled while platinum fell from over $1000 to $850. Boy am I glad I resisted the temptation to buy platinum!
Incase you want to buy by grams from sierra leone feel free to contact me because am a local miner too
I only buy gold Buffalo (1 oz), I picked up 4 this month, but want another 8 oz before end of 2024. My goal is usually 10 to 12 oz per year, so long as the prices don’t skyrocket.
Nice!
What bullion dealer do you use?
My local coin shop deals with Eagles, Maples, and Krugerrands. So those are my concentration although I prefer the Eagles over Krugerrands for some reason.
Compare prices with SD on JM Bullion 👍
Just found your channel and subbed ...I am 70yo and retired started on Silver with 50 1oz coins and 1 10 oz bar...then I got the itch for gold but with a Silver wallet....can only manage 1/10oz coins...have 2 now and would like to do 1 a month...lol don't beat me up too bad
Another good informational video, thank you. My state charges tax on purchasing anything less than 999.
🤜🤛
As always a great informational video, thank you. Okay, silver, ugh. I have some 1 oz. silver maples I've lined up for sale. They are at a depository, so it's fairly easy to move them. The huge problem for me is the fluctuating sell premium. I needed my sale price to be $23.33. I had it all figured out if the spot price would go to $23.08 and the current sell premium was $0.25. I arose from slumber Thursday (yesterday), and oh boy Silver Spot was over $23.08. By the time I got the old laptop fired up and logged into the depository the spot price had dropped to $23.08, I gotta hurry. I checked to be sure the premium sell price was still $0.25 BUT the dealer had dropped the sell premium to $0.05. So, I still haven't sold the silver maples. Just more frustrated with Silver.
Frustrating. Not much of a tailwind for silver at the moment. I’d guess it’s coming, though. Cheers!
What’s better gold maple, buying old coins like before 2010 or the new ones? or both have the same value?
It took me a few years, and a few of your videos, but I finally settled on 1x britannia, 1x sovereign and 1x something I like, such as a 1x krug or perth coin from the year I'm in, per year. Its only just over 2oz per year, but its not a bad UK pension plan 👍
Nice. Anything from the Royal Mint will be CGT exempt for you. Cheers!
I have a 8 oz yearly goal. I buy Buffalos and I buy 1/2 oz Eagles. I could probably buy a couple more ounces. But I like to put cash away for those unexpected expenses.
I admit to blowing some on travel too. 😉
As always, I think you are right on the money... No pun intended. lol
Thanks! 🤜🤛
What is your opinion on palladium coins?
Could you do a similar video for silver? You've talked about silver a lot, and i understand some things. Stick with Silver Eagles, and don't pay for shipping. But still don't have a clear plan for it. Is it alwo good for savings, or is its use different? Should i buy based on the premiums? Just wish there were a similar video like this for silver.
I love how the eagle looks.. i wish we had them in my country. I love that Chris Reeve also😅
Good eye 🤜🤛
I would love to hear ur opinion on subscription gold like acre gold. Love ur videos and ur gold advice.
I know yours isn't the only opinion around, but it resonates with my sensibilities. After binging your videos, the biggest takeaway for me personally is that a lot of the non-numismatic silver I've bought would be difficult to sell at best, and while I got it all at good prices, it won't be worth the hassle later on down the line...damn.
So I was thinking I might turn it into jewelry, maybe add some value to it through labor. I dunno, is that too fanciful? Let's assume I'm not too worried about recouping the cost of the tools, since I buy many tools in my line of work, anyway.
You can flip semi numismatic silver pretty successfully but it takes work. The problem is the people “promoting” it typically have personal platforms, so it can seem easier than it actually is. I don’t know enough about jewelry to say much there, but I’d guess you probably have a number of options. Cheers!
Put a good live spot price chart on your phone / computer. Buy when spot is low if you can, people don't have the time to keep a constant eye on live charts.
I only buy gold sovereigns, cheap, low premium, easy to sell, store them in capsules to keep in good condition.
I like lunar series Perth mint
Always shop around and check out online sales from reputable dealers. There can be a substantial difference in prices from one site to another.
My plan….. Perth mint then buffalos and eagles on dips. Something special about the quality of Perth series coins
Perth Mint nails their designs.
I have wondered how many people have purchased silver coins or bars that are low mintage at a decent price then waited to see if what they purchased has gone up and traded it for gold I've done it with the Spiderman Tuvalu coins when they came out purchased a full roll at 600 something waited until they were selling for over 100 a coin and traded 20 ounces of silver for one ounce of gold I did the same with some other items
Gold at ATH, I think it's time to start a half oz tube! I'll have to check the premiums 👊🏻
@DrSchor definitely not buying gold at these prices. Prices are obviously at an ath. No clue why i posted that. Lol. Truthfully, im not even buying silver at the moment.
Big ballers on here sheesh. My goal is to get started with some American Eagles. I'd like 2 oz.
Why can't we do business for a longtime and start with few grams
2:21 *that's been my strategy for a while now*
Is there a tube that fits OZ gold coins with the capsule. If so what size do I need?
Darn man, I have been buying as many different random coins as I can. I like having a variety to look at.
Besides philharmonic gold coin, what is the best option for a gold coin in Europe? I live in Romania. Great videos, keep up the good work! 😃
You can choose Krugerrands - they are very popular and liquid in Europe
@@user-st8bk4sk9i what about Franz Joseph - ducat gold coin? Here is quite known.
Well, I've made mistakes with metals, too, before consolidating on the same coins you mention here...but I've been lucky enough to make trades with my LCS that weren't all that painful. The mistakes I've made with custom guns that didn't function as designed and high-end knives that didn't fit my hand...that was painful...but that's a discussion for your other channel, someday...
There are definitely harder categories to make mistakes in. I’d love to trade out of a particular Staccato right now. 😄
Thanks. I highly value your advice. In your opinion should I get my Buffalos graded seeing that they are a softer coin? This not only preserves them, but also athenticates the coin and gives it a grade or am i wasting my money?
That’s an easy “no”. It will cost you time and money and won’t add any value. Grab some capsules, and you’ll be good. Cheers!
I just enjoy buying gold I don't care about any exit plans 😅
Where are you buying from and what quality?
Good time to buy at an ATH?
This the best presentation - Information that is XTRMLY important & Information that should be Embraced, Absorbed & Aapplied to any & all Au Gold buyers ( new or old buyers ) Very Important to establish a VERY clear & Precise exit plan *** AND *** be sure to share this plan to others who will benefit in the event you cross over.
**** Really enjoy 2 is 1 Presentations * * *
Many Content presenters can learn alot from 2 is 1
The professional, calm voice, easy to understand material, straight information with no gimmicks.
Stay away from snake oil salespeople that offer you round stickers if you watch their channel
If you buy what you like . . OK
However . .
I want product that local sellers will pay top $$$, I want product that dealers will B looking so they can sell for that quick flip.
Thank you!
i prefer sovereigns icl
Thank you!
No advice here just soaking in the advice.
Wait... buy gold... That is my advice.
Nailed it. 😄
THX