# Precious Metals Buying Club?



## latcozad

Is there any programs available that you can join to buy precious metals with an allotted monthly balance on an account. Let say $30 invested per month and the seller randomly sends you gold, or silver bullion every month.

Thanks,

Lat


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## PaulS

That's a good question. I have never heard of such a service but it sounds like one that might work.

$30 a month would take a long time to build enough for gold but it would be a couple ounces of silver each month.


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## Inor

I think Kitco Gold, Silver, Gold Price, Silver Price, Gold Rate, Gold News | Kitco might have something like that. But as I recall they keep the physical metal in their vault. You can ask them to ship it once you have enough though. I am just going from memory, so check out their site.


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## Denton

I'm not sure why you would need to do that. Why not just buy the metals, yourself?

The places I buy silver are...

Scottsdale Silver & Gold LLC

Stagecoach Silver Bullion from Northwest Territorial Mint

Buy Silver Coins, Silver Bullion and Buy Gold | Gainesville Coins

I buy silver, but they also have gold.


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## jimb1972

I usually buy online from JM bullion or APMEX, no program like that though.


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## pheniox17

there was a company that sold "gold shares" where you could get a mill worth of gold for 250k... problem was the company called for all funds to be paid at current market value (so you ended up owing a cool mill after paying the down payment) they got done for frourd (spelling out) my point buyer beware)


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## Nathan Jefferson

I've used Gold & Silver Coins From MintProducts.com in the past, pretty decent prices and turn around time. But if you are only doing $30 a month it might be easier to just go to a local shop and buy a silver eagle or two every month, or some junk silver dimes/quarters.


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## jimb1972

Denton said:


> I'm not sure why you would need to do that. Why not just buy the metals, yourself?
> 
> The places I buy silver are...
> 
> Scottsdale Silver & Gold LLC
> 
> Stagecoach Silver Bullion from Northwest Territorial Mint
> 
> Buy Silver Coins, Silver Bullion and Buy Gold | Gainesville Coins
> 
> I buy silver, but they also have gold.


I like that stagecoach silve and the ability to fractionalize it easily.


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## PrepConsultant

I always liked APMEX.. I know a guy that buys gold but he doesn't get the "physical" gold in his hand. It is held somewhere else so someone else can use it to make money probably.. No thanks, I want it in my possession.. What do you think would happen if the market crashed or we had a shtf situation? Do you think you would actually get the gold? I highly doubt it.


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## Smitty901

If you do buy Gold you better have it in your hand not on paper .


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## Denton

Smitty901 said:


> If you do buy Gold you better have it in your hand not on paper .


Absolutely. If you aren't holding it, you don't own it. Just ask Gerald Celente. He got burned big time, as still has a chapped butt over it.


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## Smitty901

The only thing that could end up being more worthless than a peace of paper that say you have $1000 in gold some where.
Is $1000 in cash that say you have no gold any where when it all falls a apart. 
If you buy gold or silver get it in your hand right away.


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## Montana Rancher

Denton said:


> I'm not sure why you would need to do that. Why not just buy the metals, yourself?
> 
> The places I buy silver are...
> 
> Scottsdale Silver & Gold LLC
> 
> Stagecoach Silver Bullion from Northwest Territorial Mint
> 
> Buy Silver Coins, Silver Bullion and Buy Gold | Gainesville Coins
> 
> I buy silver, but they also have gold.


I can see the advantage of a "club" they buy hundreds or thousands of ounces a month as a "club" and so they get the wholesale rate.

being a business man unless the club was REAL big I don't see the advantage over buying locally, unless you look at is as a automatic deduction from your checking account and a real ounce of silver in the mail every month, then WTF go for it!


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## Montana Rancher

Oh and reading today I found out something I didn't know... Gah... yes even my wife was amazed... hehe

If you sell precious metals the dealer that buys them from you needs to file a 1099B (the B means barter not bullion)

So if you sell more than 10k in precious metals the dealer you sell them to needs to file the 1099B

The EXCEPTIONS are "silver eagles, gold eagles, and gold buffalo's"

I had not heard this before but I haven't sold any of my PM's as they are my insurance policy for the future.

I am interested in knowing if what I read was correct, please educate me!!


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## Denton

Montana Rancher said:


> Oh and reading today I found out something I didn't know... Gah... yes even my wife was amazed... hehe
> 
> If you sell precious metals the dealer that buys them from you needs to file a 1099B (the B means barter not bullion)
> 
> So if you sell more than 10k in precious metals the dealer you sell them to needs to file the 1099B
> 
> The EXCEPTIONS are "silver eagles, gold eagles, and gold buffalo's"
> 
> I had not heard this before but I haven't sold any of my PM's as they are my insurance policy for the future.
> 
> I am interested in knowing if what I read was correct, please educate me!!


Yup, that is correct. They are government coins, so they are treated differently.

I'm hanging on to mine, too, but I am still trying to get over my love of bars and start buying Walking Liberties.

I think I am doing good by not giving in to the temptation of buying the one ounce .45 ACP bullets NWTM sells. Those are too cool.

https://store.nwtmint.com/product_details/5157/1_oz._Silver_Bullet_Bullion_.45_ACP/


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## Inor

Montana Rancher said:


> Oh and reading today I found out something I didn't know... Gah... yes even my wife was amazed... hehe
> 
> If you sell precious metals the dealer that buys them from you needs to file a 1099B (the B means barter not bullion)
> 
> So if you sell more than 10k in precious metals the dealer you sell them to needs to file the 1099B
> 
> The EXCEPTIONS are "silver eagles, gold eagles, and gold buffalo's"
> 
> I had not heard this before but I haven't sold any of my PM's as they are my insurance policy for the future.
> 
> I am interested in knowing if what I read was correct, please educate me!!


I thought it was part of obamacare that any sale of *ANY* PM over $600 in a year had to be 1099ed.


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## Montana Rancher

Inor said:


> I thought it was part of obamacare that any sale of *ANY* PM over $600 in a year had to be 1099ed.


I haven't heard this but why should anyone be surprised?

How may quotes can we find that Obama would not raise our taxes?

http://dailycaller.com/2012/06/28/w...care-tax-now-violates-obamas-2008-tax-pledge/

(the first hit I got on "Obama 2008 no new taxes) was a 1.7 trillion dollar hike.

Not much more to say.


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## Inor

Montana Rancher said:


> I haven't heard this but why should anyone be surprised?
> 
> How may quotes can we find that Obama would not raise our taxes?


I am not positive on this one so do your own research. I looked after posting to see if I could find out more information, but was unsuccessful. But I seem to remember something about that in the news shortly after the bill was passed.


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## Montana Rancher

Denton said:


> Yup, that is correct. They are government coins, so they are treated differently.
> 
> I'm hanging on to mine, too, but I am still trying to get over my love of bars and start buying Walking Liberties.
> 
> I think I am doing good by not giving in to the temptation of buying the one ounce .45 ACP bullets NWTM sells. Those are too cool.
> 
> https://store.nwtmint.com/product_details/5157/1_oz._Silver_Bullet_Bullion_.45_ACP/


Thank you for the input here is why

I just offered to buy my father out of the balance I owe him on the Ranch property that I have a personal mortgage to.

He told me he doesn't want the money (read taxes, capital gains etc) and he would rather receive his normal monthly payments which will finish 2017

So I said fine, I will put your future payments into silver and in a YEAR my investment will offset what I owe you, but as I now know selling those coins will not bring down the 1099 on me, I am all over that,

Thanks for the info!!


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## StarPD45

Check out Independent Living Bullion.
Live Current Silver & Gold Prices Per Ounce | How to Buy & Invest | Best Spot Charts Today
They have a monthly accumulation plan. 
You can get gold or silver, or a combination.
They mail it to you. No offsite storage. It's in your hands.
BTW: No, I am not connected to them.


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## Denton

StarPD45 said:


> Check out Independent Living Bullion.
> Live Current Silver & Gold Prices Per Ounce | How to Buy & Invest | Best Spot Charts Today
> They have a monthly accumulation plan.
> You can get gold or silver, or a combination.
> They mail it to you. No offsite storage. It's in your hands.
> BTW: No, I am not connected to them.


Compare the price to what Gainesville Coins sells for. Compare the Silver Eagles. That is why I can't understand such companies. If I want I coin, I order it. If I want a roll, I order that. Maybe I am not understanding the program. I dunno. Just got off the top of a helicopter, working in 17 degree air temp with 5-15 mph wind, so maybe my brain is numb.


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## GlockSmyth

APMEX, Merit Gold and Silver and Independant Living Bullion all have relatively good pricing. I believe ILB has a monthy plan much like you desire.


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## PrepperLite

I have visited a few local dealers and most of the time they are out of what I want, or the prices don't jive at $5-8 above Spot. For the past couple of months I have used Provident Metals with no problem. I don't see an option of "repeat transaction monthly" but that would be cool, I just log in and order a couple ounces of silver 2x a month.


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## StarPD45

The one plus of using a monthly plan is using dollar cost averaging. You spend the same amount each month and get X number of items based on the metals price that month.


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## alterego

Liberty coin and stamp in Lansing Michigan. Dont you have a local billion dealer you can buy a silver eagle maple leaf or art bars from. I used to buy them every week when I cashed my pay check. Buy one or two pieces I did that for eight years and sold out in January of 2010. The cost over spot is too high right now for my taste.


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## willy

I really like Monarch Precious Metals. They don't have the plan you speak of but they do sell fractional closer to spot price than anyone else and they send out free shipping coupons all the time. They are a refiner so if you don't have a specific brand you want, you can buy their Monarch products for $1 over spot. You can even get discount on that. I recently placed an order that shipped free and I was about .50 cents over spot per ounce. Much better than the local dealers.


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## jgriner

http://bullion.nwtmint.com/monthly-accumulation-program.php

This is what you where looking for, a monthly auto saver program, but in silver


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## willy

Monarch has a sale today to move their fractional rounds, 1/10, 1/2 ounce, 5 gram & 1 gram. 1/2 oz are about 50 cents over per ounce and their 1oz rounds are $1 over.


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