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Old 09-11-2007, 01:37 PM #1
Hobo BJ
 
 
Join Date: Feb 2005
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Gold Question

Hey i wanted to buy some gold coins or bars. I was planning on keeping them for a few years until i needed some cash but im not sure how that would work. Can gold bars be exchanged for money at a bank or would i have to sell these things myself? Thanks
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Old 09-11-2007, 06:28 PM #2
SoMich_Tom
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Like any asset, they can be exchanged to anyone who will purchase them.

Banks do not deal in precious metals.

You would most likely sell them back to a precious metals broker and there are lots of those out there. Individuals, pawn shops, etc are also an option if you can get a price you like.

Just an FYI...Gold has been at all time highs for a while now. General investing principles say to buy low, sell high. Where will Gold go in a few years? We don't know. Most experts in the field are not considering it a good time to get into the Gold market.

I am not a market analyst, these are not opinions of my own and this (plus a truckload more) of information on precious metals is available from any popular precious metals site.

For prices, check out:
kitco.com

For buying, check out:
nwtmint.com
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Old 09-11-2007, 06:33 PM #3
Hobo BJ
 
 
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thanks, ill check those out.
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Old 09-11-2007, 06:43 PM #4
t_mo (Banned)
 
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You could also park your money in a fund that tracks gold. Much more liquid and transparent, also safer than simply having gold bars.
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Old 09-11-2007, 06:48 PM #5
chillinspyder2
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i just recently bought some coins
90% silver
should be useful in a few years
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