Investing in GOld and Selling back to get money?
I have a questions for all experts in Gold investment. If you invest in gold (gold coins, bars, etc) Can you sell it back later on? to get money? If you do, where do you sell it to? who are the potential buyers???? I am beginner… please help! thank you…
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why would anyone want to actually deal in the physical stuff?
it is just as simple and usually far easier and cheaper to buy and sell options on gold futures. there is no physical stuff you have to take care of, no storage charges, and no question when time comes to sell of the purity and weight of gold.
see your stock broker and talk to them about buying options on futures.
{note: speculating in futures and/or writing options on futures is much riskier as there is no limit to the downside of your trade.}
when you buy a gold coin or bar, you take possession of the item. when you want to get out of gold you can sell the item to who ever you like including private interests, coin dealers and even on ebay.
yes, of course you can. if you buy from an established dealer in precious metals, you can sell it back to them at any time for the market price, minus any spreads, fees, and the like, at whatever the market price may be.
i live in NYC, so there is a dealer i go to on Wall Street where i buy physical bullion and take it home with me. i also buy privately when the opportunity comes up. so far i have bought only Krugerrands, and one K-rand is as good as another, so even if i bought all of what i have privately, i could bring them to the dealer and get the same dealer price. any private person is also a potential buyer if they have enough cash to give you in return.
June 28th, 2010 at 9:28 pm
Buying the stock IAU is a great way to invest in gold as well. You can buy and sell with just a mouse click. Just open up an online trading account somewhere like scottrade or e trade. Or you can invest in goldmining companies like ABX or GG. Here is the link…
http://finance.yahoo.com/q?s=IAU