Cashing gold bars

[shack]

That looks promising. It does not look like one of those shady operations.

Thanks.

 

[trainII]

Gold was US $1890 per oz in 2011 and is US $1300 today -a 31% loss in 7 years so it can go down. In periods of low inflation it is not a good investment.

 

[trainII]

Gold isn't an investment, it's a form of savings (investments pay dividends or interest). If you don't need the money, why not hang on to your metal? After all, no government can print it, and it allows you to hold some money "outside the system", so to speak. That said, metals can be volatile, silver more so than gold, but over the long term, they do tend to hold their value.

As long as you understand that you are speculating in a commodity (not savings) and one that has done poorly in the last 8 years.

 

[Richard.TO]

Gold isn't an investment, it's a form of savings (investments pay dividends or interest). If you don't need the money, why not hang on to your metal? After all, no government can print it, and it allows you to hold some money "outside the system", so to speak. That said, metals can be volatile, silver more so than gold, but over the long term, they do tend to hold their value.

And where did this piece of misinformation come from? Not all investments pay dividends or interest. For example would Amazon (ticker AMZN) not be considered an investment? It currently doesn't pay a dividend or interest.

 

[Richard.TO]

Well I don't know, Richard. Usually a distinction is drawn between speculation and investing (based partly on the time frame and intent of the purchaser). I am using the definitions supplied by Investopedia, although I hardly consider myself an expert. As to gold, precious metals have always served as money (a store of value), although they are not now currency. If you were to buy futures contracts on metals then that would be speculation, but the OP has actual metal in his possession. Let's hope he does what he is most comfortable with, and does not rely on our amateur advice.

Actually, there is always a distinction between speculating and investing. It has less to do with time frame and intent but more to do with risk level. Speculation involves very high risk with the high probability of of losing capital but in return there is a chance of significant gain. Investing, on the other hand, also involves risk but the risk is measured based on fundamentals and the track record of the company. Returns are usually in line with expectations for that company’s profitability.

 

[shack]

canadianpmx.com.....Canadas precious metals exchange....they will pay 65 cents under spot price to buy

Gold closed today at around $1,400 per ounce today, the highest since 2013, if I heard right. Going to cash in a couple of ounces tomorrow. I will hold onto my other 2 ounces.

 

[Zaibetter]

Gold closed today at around $1,400 per ounce today, the highest since 2013, if I heard right. Going to cash in a couple of ounces tomorrow. I will hold onto my other 2 ounces.

Yes its going back up...

 

[someone]

I few years ago, I sold mine at the CIBC (basement) at Bay and King. That is also were I had bought it many years before.

 

[jcpro]

If you have just a few ounces then don't sell unless you really need the money. It's always good to have some cash and metal on hand. I have a few rolls of Maple Leafs and some other stuff I picked up in Russia years ago, they're great for small "exchanges" in certain ethnic circles.

 

[shack]

If you have just a few ounces then don't sell unless you really need the money.

Gonna sell half of what I have.

 

[thirdcup]

Try https://torontogoldbullion.com/contact/contact-us.html
or
https://canadianpmx.com/contact/

I've bought small gift gold bars from both places.
They are respectable establishments, and I believe they provide fair prices.

 

[shack]

Try https://torontogoldbullion.com/contact/contact-us.html
or
https://canadianpmx.com/contact/

I've bought small gift gold bars from both places.
They are respectable establishments, and I believe they provide fair prices.

I went to pmx. Ask price is $1,853. They pay 96% of the offer price which is $1,851. I got $1,777 per 1 oz. bar. Cashed in 2 of them and kept the other 2.

Old Canadian silver coins (1966 and prior) get paid at 9 times the face value.

 

[WULA]

Gold has broken out to the upside with little resistance until US $1600. Likely a pullback to test the past resistance around US $1380.

 

[dickydoem]

Are coins from the Canadian Mint worth investing in? Some are advertised as being 99.999%. and about $1,000 more than just 99.99.