fusso
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Where can I buy precious metals for cheapest prices?
Which country/ies can I buy precious metals for cheapest prices? (ie closest to their spot prices or even lower)
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WGTR
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For less than spot price, before you throw away an old car, cut off the catalytic converter and recover the precious metals. For something more
convenient, buy bars on the secondary market. Sellers like Apmex will often sell bars of platinum on the secondary market, and these are the cheapest
to buy, although still over spot price. eBay can have some good deals like this too from time to time. To get close to spot price you normally have
to buy at least 1 oz, but oftentimes 10 oz. minimum.
Precious metals are a global commodity, so I think that you will pay whatever its value is, translated into your local currency.
[Edited on 8-12-2018 by WGTR]
Actually, after thinking some more, the cheapest way to buy precious metals is to buy them from someone who is motivated to sell them. Apmex will buy
platinum for less than spot price, then sell it for more than spot price. If you find someone who wants to sell, then offer them less than spot, but
more than they can get elsewhere, and maybe you have a sale.
[Edited on 8-12-2018 by WGTR]
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Sulaiman
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Are you buying small amounts for experiments,
bars or coins for bullion investment,
or raw materials for manufacturing ?
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fusso
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Quote: Originally posted by Sulaiman  | Are you buying small amounts for experiments,
bars or coins for bullion investment,
or raw materials for manufacturing ? |
Mostly for investment, a little for experiments.
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fusso
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| Quote: Originally posted by WGTR | For less than spot price, before you throw away an old car, cut off the catalytic converter and recover the precious metals. For something more
convenient, buy bars on the secondary market. Sellers like Apmex will often sell bars of platinum on the secondary market, and these are the cheapest
to buy, although still over spot price. eBay can have some good deals like this too from time to time. To get close to spot price you normally have
to buy at least 1 oz, but oftentimes 10 oz. minimum.
Precious metals are a global commodity, so I think that you will pay whatever its value is, translated into your local currency.
[Edited on 8-12-2018 by WGTR]
Actually, after thinking some more, the cheapest way to buy precious metals is to buy them from someone who is motivated to sell them. Apmex will buy
platinum for less than spot price, then sell it for more than spot price. If you find someone who wants to sell, then offer them less than spot, but
more than they can get elsewhere, and maybe you have a sale.
[Edited on 8-12-2018 by WGTR] |
Extracting and separating the PGM mixtures isn't worth my effort, and also I
expect unwanted/abandoned cars to be uncommon, if not rare. If I want some pure PGMs I'd prefer buying them. Also, I'd like to buy them only if I can
look at the bars/coins. I don't want to buy precious metals online.
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JJay
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Put an ad on Craigslist saying that you pay cash locally. Meet in public. Turn down shady deals. Offer a price slightly better than the local jewelry
stores but much lower than eBay. Rinse & repeat.
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BromicAcid
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Sellers in the Congo and some other areas have trouble off-loading their goods. These 'conflict' metals are often illegible to be purchased by
reputable dealers due to the possibility of them funding war/genocide/etc. It's my understanding that an unscrupulous individual can purchase these
metals at a bargain rate if you know the right people. Though the amount that an individual could purchase is likely not worth their time.
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fusso
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| Quote: Originally posted by BromicAcid | | Sellers in the Congo and some other areas have trouble off-loading their goods. These 'conflict' metals are often illegible to be purchased by
reputable dealers due to the possibility of them funding war/genocide/etc. It's my understanding that an unscrupulous individual can purchase these
metals at a bargain rate if you know the right people. Though the amount that an individual could purchase is likely not worth their time.
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Therefore I'm only considering safe countries, not unstable ones.
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fusso
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| Quote: Originally posted by fusso | | Quote: Originally posted by WGTR | For less than spot price, before you throw away an old car, cut off the catalytic converter and recover the precious metals. For something more
convenient, buy bars on the secondary market. Sellers like Apmex will often sell bars of platinum on the secondary market, and these are the cheapest
to buy, although still over spot price. eBay can have some good deals like this too from time to time. To get close to spot price you normally have
to buy at least 1 oz, but oftentimes 10 oz. minimum.
Precious metals are a global commodity, so I think that you will pay whatever its value is, translated into your local currency.
[Edited on 8-12-2018 by WGTR]
Actually, after thinking some more, the cheapest way to buy precious metals is to buy them from someone who is motivated to sell them. Apmex will buy
platinum for less than spot price, then sell it for more than spot price. If you find someone who wants to sell, then offer them less than spot, but
more than they can get elsewhere, and maybe you have a sale.
[Edited on 8-12-2018 by WGTR] |
Extracting and separating the PGM mixtures isn't worth my effort, and also I
expect unwanted/abandoned cars to be uncommon, if not rare. If I want some pure PGMs I'd prefer buying them. Also, I'd like to buy them only if I can
look at the bars/coins. I don't want to buy precious metals online. |
In addition I live outside of N America
so buying from APMEX would probably cost more than buying locally.
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zed
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Below spot? Unlikely.
Jewelers and metal buyers, may pay less than spot for scrap (or used jewelry).
But spot, is spot...The going price.
Be happy if you can buy at approximately spot.
Now, it appears that a lot of people, thought this was close enough.
https://www.ebay.com/itm/2016-1-10oz-Platinum-Noble-Coin-999...
Even though today's platinum spot price is only ~830 Dollars US/ per Oz.
Spot is, generally speaking, a wholesale price. You have to buy quite a bit to qualify. In the past, Silver Spot price, was for 1000 Oz.. Likewise,
for Gold or Platinum; Spot isn't the price for buying a single Oz.; it is the price per Oz., when you buy a large multiple of Ounces.
[Edited on 12-8-2018 by zed]
[Edited on 12-8-2018 by zed]
[Edited on 12-8-2018 by zed]
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JJay
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I think this is worth mentioning again: There is an endless supply of people in every country who are looking to turn precious metals into quick cash.
The jewelry/pawnbroker/coin shop/precious metal buyer industries could not exist without them. The people are easy to find; the hard part is to avoid
getting hit in the head/getting ripped off/buying stolen goods. Don't bother negotiating with them; just state your price, well below spot but better
than establishments that have to maintain a storefront and pay employees (just call them to find out their prices), and if your prospective sellers
don't want your money then say no. If they want your money in a few days, they'll call you, and you'll be cutting them a better deal than they would
be getting from someone else local.
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elementcollector1
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Personally, I think it's worth looking into gold panning and gem hunting around one's area. It's not exactly a 'get-rich-quick' scheme, but it is nice
for collecting appreciable amounts over time - and who knows what'll happen to the price of gold in the future?
Elements Collected:52/87
Latest Acquired: Cl
Next in Line: Nd
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Sulaiman
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For experiments the cheapest source of gold is
to ask family and friends if they have ANY scrap gold to help with your hobby,
a tiny clasp here, a few chain links, studs ... solid or plated, it all helps.
I have about 1g Au from electronics scrap (a lot of time, effort, chemicals and hazardous waste to deal with)
and 1.7g from scrap jewellery which was MUCH easier to process.
.....................
1g Au is enough to try chemistry experiments as it is usually worth recovering,
with only a few percent loss, after the experiment is done.
.....................
Unless you are willing to smuggle gold or deal with criminals,
you are unlikely to buy gold, silver, platinum etc. at spot price in small quantities,
and you should consider any taxes etc.
(e.g. in UK there could be Capital Gains Tax and VAT on silver bars,
but no taxes on Gold coins)
(tax the poor, but not the rich 
......................................................................................................
Aside: if all of the above ground gold and silver were distributed equally amongst all humans,
you could get about 3x 1oz. silver coins and 1x 1oz. gold coin 
.............................
Currently I think that precious metals are a good buy,
for Investment I think that Gold coins are the best buy,
platinum is quite low but may or may not recover,
The Gold:Silver ratio is about 1:80 ... silver is historically relatively cheap compared to gold,
but you would have to sell at the right time to make a profit.
..............................
I will not be surprised if precious metals rise in price soon as Trump's trade wars progress.
.............................
Other than during severe economic crises, or the occasional gross manipulation of markets,
precious metal prices are actually determined by production costs and demand,
IF the USD collapses (unlikely but becoming more possible) then precious metal prices may become unbelievably high for a while,
but it will do you no good as you should have instead invested in a fully stocked bunker 
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Herr Haber
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There are a lot other metals worth speculating on.
Some of them arent even taxed as precious metals are.
Please Mr Trump, DO anger China some more !!! 
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fusso
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What metals do you speculate? I'm after precious ones not only due to the value, but also their unique
chemical properties.
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Sulaiman
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Update ... ignore any speculation advice from me :(
So, following my recommendations above - precious metal prices have dropped significantly.
(e.g. my silver is now priced exactly as when I bought it - four years ago) 
If you followed my advice - I apologise.
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fusso
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Maybe I should ask the question like this:
Which company in which country sell them cheapest (nearest to spot price) yet reliable (ie they're not scammers) and safe enough for general tourists
(ie I can buy the PM, put them in my bag, then return to hotel or visit other places without the need to worry about being robbed)?
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