good book for beginners wanting to purchase gold

finanindecia
By finanindecia on Mon, Feb 26, 2018 - 11:27pm

I'm a beginner. Any suggestions as to books, websites (including the best places on peakprosperity.com) that will help me to learn how to invest in gold?

 

Thanks.

2 Comments

nedyne's picture
nedyne
Status: Bronze Member (Offline)
Joined: Jan 14 2012
Posts: 63
Resources

Where to Buy Gold & Silver: https://www.peakprosperity.com/where-to-buy-gold-and-silver

Look at the trading commissions and storage fees. BullionVault has by far the lowest of them all.

 

The New Case for Gold, by Jim Rickards. This guy is amazing and has a very balanced perspective: https://smile.amazon.com/New-Case-Gold-James-Rickards-ebook/dp/B011IVP38I/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1519705959&sr=8-1

Guide To Investing in Gold & Silver, by Mike Maloney. I like his book but take it with a grain of salt. He owns a bullion dealership and is a bit too fanatically anti-fiat money. https://smile.amazon.com/Guide-Investing-Gold-Silver-Financial-ebook/dp/...

 

Good luck!

MKI's picture
MKI
Status: Bronze Member (Offline)
Joined: Jan 12 2009
Posts: 77
How to invest in gold

I've never found a book about investing in physical gold worth a damn.

But this makes sense, since "how" one invests in gold depends on "why" one is doing so. If keeping gold to hold wealth "out of the system" then gold bullion (1 oz Gold Eagles best) makes sense since they can be easily bought or sold safely (easy to spot counterfeits).

Where to buy? Texas Precious Metals (by mail) unless you can find a friend willing to sell personally (to avoid commission). Again, it's easy to spot a fake bullion with a scale and caliper or a Fisk.

How to store? Bury using ABS tubes. At $1M per coin, it's not a lot of volume unless you get to millions. I personally wouldn't keep more than $100M in one location. But it's a safe way to protect oneself from any eventuality: lawsuit, divorce, medial crisis, legal issues, civil unrest, war. If you rent, just bury on public land using a GPS.

If you don't mind keeping your gold "in the system", Bullion Vault as mentioned above is great. But historically people have held gold as legal breakdown insurance, and BV can't do that.

If just trading gold I would use an ETF. Note if you use Quicken, you can even put any physical gold into a "pretend ETF" within Quicken just to keep track of your daily changes in value to make sure you don't foget about it. It's very sobering to watch the value of one's gold just match inflation over the decades as your stocks not only match inflation and grow but also produce dividends...but hey, insurance provides a warm fuzzy feeling that's hard to beat.

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