Seeking advice about gold investments

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A friend of mine wants to invest a substantial amount in gold coins and asked for my advice on whom do deal with. Although I did some major investing in gold and silver during the 1970s, I haven't kept track of the market and dealers. I therefore decided to post this query in the hope that some OL members are investors in gold and so can give some good advice. Specifically, I would like opinions about the better gold dealers and the best value in coins, i.e., those with the lowest premiums over the gold content. (My friend is not interested in rare collector coins.) Krugerrands were a good value when I was investing, but I don't know if that is still the case.

Thanks in advance for your help.


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I hear murmurings that *silver* is "poised for a historic runup," perhaps 2-3 times its present price per ounce. I would vigorously check that out before making a recommendation or purchase.

I don't know anything about gold, except that it's purty. :) 


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There is no investing in gold except as insurance.

The American Gold Eagle may be best but never mind premium. The friction of buying and selling is about the same percentage friction in buying and selling a house. For investing and speculation it's best to buy the gold ETF  GLD.

People produce but gold produces nothing except thieves come to steal it after your wife or children blab about it. Banks tell you they don't want it in your safe deposit box (or wads of cash). Gold is not an inflation hedge. That's folk wisdom. The 1970s was private ownership rebound plus momentum to almost $850 a troy ounce. The inflation of those years was coincidental.

If I get the names of two or three good dealers I'll put them up. I tried one place but no joy. Maybe tomorrow.


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