A frugal way to invest in gold...

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Kurosawa's picture
Kurosawa
Status: Bronze Member (Offline)
Joined: Jul 2 2008
Posts: 43
A frugal way to invest in gold...

I thought I'd share a quick tip with investing in gold.  Many people I speak to think that you have to have at least $1000 to pay for a single ounce of gold.  You can get into the gold market much cheaper by investing in 1/10 oz or 1/20 oz gold coins. 

1/10 oz = around $125

1/20 oz= around $60

You can buy coins such as Canadian Leaves or Pandas that come in this weight.

To get a cheaper deal I suggest buying used gold coins since I personally don't think it'll really matter in the long run.  Sorry to those who already knew of this (most of you probably) but couldn't resist sharing since the people I come in contact with think you need to buy a whole flilppin' oz.

Kurosawa's picture
Kurosawa
Status: Bronze Member (Offline)
Joined: Jul 2 2008
Posts: 43
Re: A frugal way to invest in gold...

BTW I'd say Ebay is one of your best bets, be sure to bid on the items that end weekdays since less people are watching.

Woodman's picture
Woodman
Status: Diamond Member (Offline)
Joined: Sep 26 2008
Posts: 1028
Re: A frugal way to invest in gold...

Alternate perspective: I think buying gold from one of the dealers Chris identified in his Take Action section of this website is much more frugal both in terms of time and value.  You can buy coins smaller than an oz. but you'll likely be paying much more on a per oz. basis.  Ebay can take a lot of time searching for good deals, that might be better spent elsewhere. 

Mr. Fri's picture
Mr. Fri
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Joined: Feb 21 2009
Posts: 220
Re: A frugal way to invest in gold...

Better yet.  If you don't have enough money for an oz of gold, buy silver.  Silver is about $16-$17 per oz.  In the long run silver will go up at least as much or more (percentage wise) as gold.

 

Kurosawa's picture
Kurosawa
Status: Bronze Member (Offline)
Joined: Jul 2 2008
Posts: 43
Re: A frugal way to invest in gold...
Mr. Fri wrote:

Better yet.  If you don't have enough money for an oz of gold, buy silver.  Silver is about $16-$17 per oz.  In the long run silver will go up at least as much or more (percentage wise) as gold.

 

I think it's important to diversify.  Many of the precious metal gurus I've come across recommend gold to hold the most weight in your precious metals portfolio.  Gold I think has more certainty than silver.  Don't get me wrong I still invest in silver but I think gold is the better hedge.

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