Originally Posted by mainy
Wahhh. Been wanting to get into PM for like the past 6 months, and now that I finally have time prices are so high. But that's okay. I've got like 5k to throw down, what should I go for? I wouldu like to get something physical. What's the deal on these local gold stores, can somebody give me a primer? Don't want to get hustled.
Definitely do your DD. Be careful from the shops, they will try to sell you coins for a really high premium b/c they are rare, or have numismatic value, etc. Be adamant that you just want it for the intrinsic value of the metal. As far as the timing, can't help ya there. I was worried I bought too high @ 39 an ounce, and look where we are now. Apmex.com is a good place to window shop, and know if you find a local guy you can more than likely get it cheaper than Apmex. I paid 3 dollars over spot for my Silver Eagles. I want to say wait for a pullback, but I was waiting for a pullback and one never came, so I got anxious and just placed my order @ 39. I guess the pullbacks aren't coming because the physical market is so tight? I dunno. It's silver though, so it's going to have to be volatile. Especially now that Goldman is trying to call tops in commodities (hahah yeah right!) Far as gold goes, I dunno I can't afford it lol