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MetalGerry

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  1. Like
    MetalGerry got a reaction from Griffo in Newbie buying regular non-collectible bullion in the US   
    First, yet another sorry from yet another newbie for asking yet another question that’s been answered somewhere in this forum for sure … I’ve been doing my homework, but still have questions… If there is already a thread that answers specific questions below, would be much obliged if someone point me to the right source.
    Goal: buy gold bullion coins in US.  Regular circulated coins as non-collectable assets  (not proof, not uncirculated) to get the best value from what I’ve learned.  I prefer 1oz and 24ct, so I assume Buffalos is the choice in the US, but Maple Leafs or Kruggerands may do as well, since for asset keeping and easy cash-out proposes they are all fine choices, from what I’ve read online.
    Main question:  Local dealer or online order from JMBullion or AMPEX?  Being new I just want the best condition bullion without much hassles since I don’t have experience evaluating pre-owned coin authenticity or condition.  What I need to understand:
    -         JMBullion, AMPEX, Fidelitrade are listed as “authorized” dealers that buy direct from US Mint.   Does that mean I will be getting brand new freshly minted Buffalos, or possibly pre-owned ones as well? 
    -         If I buy from a local shop, I assume I will be getting pre-owned ones, or do they also sell brand-new? 
    -         I’m afraid to be sold a fake bullion, or a bullion not in a pristine condition, so not feeling good about local shops.  Am I right to assume the “authorized” online dealers above will be a safe choice for a beginner?
    If this is better posted to the Gold forum, please feel free to move........
  2. Like
    MetalGerry got a reaction from Griffo in Anonymity   
    Another point that I think gets missed is that selling anonymously is a bigger problem than buying.  Here in the US some dealers still allow you to buy small amounts for cash without an ID.  But finding a dealer who is willing to buy from you and not ask for an ID is much harder AFAIK, and even if they agree, they would take maybe 1 coin at best.  Even if they don’t have to report it to the government, they still want to know who you are, in case you sell them something bad, I guess.  So you got to have plenty of time to run around town and buy/sell in very small amounts if you want to stay under the radar.  That may work for some collectors, but not so much for those who stack as assets.  Anytime you want to liquidate anything more than a trivial amount, you would have to disclose who you are, and the dealer will keep a record….. sadly I don’t see a solution to that….
  3. Like
    MetalGerry got a reaction from Griffo in Anonymity   
    You betcha they do.  Says right there in the article - published to the dark web.
    As I mentioned, the Perth Mint was even closer to home...and that's a major worlds mint, not just some dealer...
    https://www.bankinfosecurity.com/perth-mint-says-3200-customers-affected-by-data-breach-a-11521
     
  4. Like
    MetalGerry got a reaction from Griffo in Anonymity   
    Good points, and probably deserves a separate topic on the cyber part of  anonymity...  in the end, everything can be traced, the question is how difficult you make it to do.  Unless they know someone stacks millions in assets, they're not going through the trouble of sophisticated cyber hacking directed specifically towards a single individual.  So being just a small time stacker I am not worried that much either.  But I still don't want my information to be exposed as part of a mass breach.  Hacking the entire database of dealer accounts is something common to expect.  Check the last years reports of Perth Mint accounts breached en masse.
  5. Like
    MetalGerry got a reaction from Griffo in Anonymity   
    Like I said in my post, I am also not concerned about confiscation because the government will get to you one way or the other.
    But I am concerned about my data getting in the hands of malicious people, or leaking of it online, and now your name and address is exposed as someone who stacks PMs.
  6. Like
    MetalGerry got a reaction from Griffo in Anonymity   
    My desire for anonymity would be less about government confiscation, and more about theft and break-ins to my house.  How do I know my identify would not be leaked from the dealer at some point to where criminals can have access to it?  I have zero confidence on safeguarding data or paper records at a local mom-and-pop coin shop.  Tell me if I am being too paranoid about it….
  7. Like
    MetalGerry reacted to Mrpound in Newbie buying regular non-collectible bullion in the US   
    Also research and buy a Sigma Precious metals verifier 😆
  8. Like
    MetalGerry reacted to Lr103 in Newbie buying regular non-collectible bullion in the US   
    @MetalGerry Moved out of the trade section. 
    I personally would not be worried about buying from well known online dealers. Even if you are buying newer gold bullion coins, you might very well end up with one that is preowned. All of the dealers buy gold bullion coins from customers, and then resell them. I have sold coins to several dealers, and they certainly test everything prior to releasing payment, so I would not worry about fakes when buying from a dealer. 
    If your goal is to buy the lowest premium coins from US based dealers, I would also look at BullionExchanges and SDbullion. In my experience they have lower premiums on average, but APMEX and JM are great when it comes to selection if you looking for a certain coin. Good luck, and welcome to the Forum! 🙂
     
     
  9. Like
    MetalGerry reacted to SilverStorm in Spotting Counterfeit Silver Coins   
    A fake coin can definitely pass any test that exists.  I believe what I posted agrees with what you've said. 
    Re-reading your comment, I believe you are misunderstanding (or misconstruing) my comments regarding testing equipment and fakes.  The fakes I'm referring to are ones that are made to resemble and deceive the buyer by substituting an inferior metal and thereby passing off as an original.  So fake gold with tungsten inserts, that kind of thing.  That is what equipment testing does best, to detect fakes that don't pass a metal's innate qualities. 
    What you are referring to is the deliberate copy of the original to the exact same standards as the original.  The copy is the same as the original in all aspects (metal composition, purity, weight, etc).   To capture this type of counterfeit, a different kind of testing (i.e. human intuition, knowledge, etc.) is needed.  This is not the kind of testing I'm referring to in the above, and it is obviously out of scope for equipment testing.  Equipment testing will never pick out these types of counterfeits because they will test like the original.  Because the fakes were made like the original.   More is needed that just equipment testing.  
    But as long as a fake coin or bar is  made inferior to the original,  equipment testing will catch it as long as you use multiple methodologies to detect anomalies.  
    And for the record, you have two typos in your paragraph (bolded for you).  For being a stickler of my incorrect use of nouns, I would have expected better grammatical accuracy from you.  😜
     
     
     
  10. Like
    MetalGerry got a reaction from Lr103 in Newbie buying regular non-collectible bullion in the US   
    First, yet another sorry from yet another newbie for asking yet another question that’s been answered somewhere in this forum for sure … I’ve been doing my homework, but still have questions… If there is already a thread that answers specific questions below, would be much obliged if someone point me to the right source.
    Goal: buy gold bullion coins in US.  Regular circulated coins as non-collectable assets  (not proof, not uncirculated) to get the best value from what I’ve learned.  I prefer 1oz and 24ct, so I assume Buffalos is the choice in the US, but Maple Leafs or Kruggerands may do as well, since for asset keeping and easy cash-out proposes they are all fine choices, from what I’ve read online.
    Main question:  Local dealer or online order from JMBullion or AMPEX?  Being new I just want the best condition bullion without much hassles since I don’t have experience evaluating pre-owned coin authenticity or condition.  What I need to understand:
    -         JMBullion, AMPEX, Fidelitrade are listed as “authorized” dealers that buy direct from US Mint.   Does that mean I will be getting brand new freshly minted Buffalos, or possibly pre-owned ones as well? 
    -         If I buy from a local shop, I assume I will be getting pre-owned ones, or do they also sell brand-new? 
    -         I’m afraid to be sold a fake bullion, or a bullion not in a pristine condition, so not feeling good about local shops.  Am I right to assume the “authorized” online dealers above will be a safe choice for a beginner?
    If this is better posted to the Gold forum, please feel free to move........
  11. Like
    MetalGerry got a reaction from frugalman in Perth Mint Crisis Update   
    I see you are talking about the token https://pmgt.io..I didn't even know about that.
    I was talking PM Depository Online, https://www.perthmint.com/storage/depository-online.html which is run by Pert Mint itself afaik, I think this whole thread was about their crisis earlier last year.
    (just noticed the website is down at the moment  and for another 5 days for upgrades, Wow, talk about real time liquidity...another red flag right here...I expect 99.9% uptime)
     
  12. Thanks
    MetalGerry reacted to KevinFlynn in Beginner checking in... and, how do I know my coin is real??   
    You can get information on measurements and weights from online repositories and dealer's websites. I'm referencing german websites, not sure if that helps

    Measuring thickness can indeed be tricky, I'm usually referencing the rim.
    For scales search for something like jeweller's scales. Precision is better if you decide on a close maximum weight, i.e. 50g scales are more accurate on troy ounce measurements than 500g scales. See that you have enough digits (you're accurate to a digit less than shown). I invested in a little better than basic model, it came with callibration weights:

    For caliphers I am using a model that I already had and used in model making.
  13. Like
    MetalGerry reacted to Centauri167 in Beginner checking in... and, how do I know my coin is real??   
    Welcome on this great forum, it will be a place were you will learn a lot more about collecting and stacking !
     
    A LCS is a place of trust, if you do not trust the shop, don't buy there. In a lot of videos on Youtube you see them going to their coin shops so those are already a good place to go.
    But in the US you have so many online dealers with a great reputation as Hero Bullion, SD Bullion, apmex, ...; so if you are afraid in the beginning, just start with them and take your time in looking for a LCS that you trust.
     
     
  14. Like
    MetalGerry reacted to KevinFlynn in Beginner checking in... and, how do I know my coin is real??   
    So how do you reassure yourself?
    Apart from experience, which will come over time, you will have the choices of:
    . Recognition: take a known design. If you have a piece that you know is genuine you can make a one on one comparison. Coins usually have more intricate details than most bars.
    . Weight: some basic scales do not set you back a lot and will fit into your pocket.
    . Diameter: calipers are not that expensive either. You can do with measuring tape and a good eye.
    . Thickness: calipers are best for this.
    Get used to weighing and measuring, it does not have to have scientific accuracy. If size and weight match the publicly known values, the density of a given piece is about right. It is an easy way to get a lot of reassurance with relatively low effort.
    . Trust: buy from well known (large) dealers at first. Those usually get their product from equally reliable sources, like the mints, or they do test what they buy (search sigma verifier).
    Last: Fakes are there, but they are not everywhere. Know what and where to buy. Cover the basics by measuring (will be after the fact though). Build up trust in the sources you buy from. Build up your own experience.
  15. Like
    MetalGerry reacted to Centauri167 in Anonymity   
    My respond was more directed to the topic starter but I agree with your point.
     
    On the other hand, being on a Silver Forum is also not so clever because they can trace your IP, even if you use a program to keep you safe.
  16. Like
    MetalGerry got a reaction from modofantasma in Anonymity   
    My desire for anonymity would be less about government confiscation, and more about theft and break-ins to my house.  How do I know my identify would not be leaked from the dealer at some point to where criminals can have access to it?  I have zero confidence on safeguarding data or paper records at a local mom-and-pop coin shop.  Tell me if I am being too paranoid about it….
  17. Thanks
    MetalGerry reacted to Tortoise in Anonymity   
    I don't think that is paranoid at all.  I have bought on-line from reputable dealers and one of my concerns would be that their server gets hacked.  Not sure there is a solution to that problem though.
  18. Like
    MetalGerry got a reaction from Rashka in Beginner checking in... and, how do I know my coin is real??   
    Thanks for having me on this forum.
    In the US and thinking of buying my first bullions, despite all time high costs....seeing the inflation in the US is climbing up...
    Right now focused on deciding on buying online vs. local dealers.  Very much afraid of being sold a fake coin by a dealer since I have no idea how to tell... don't really have much confidence in general in local shops, even those that are listed on the official dealer locator page on the US Mint website... Thinking that buying online from "Authorized Purchasers of US Mint bullion" may be safer for a beginner...
  19. Like
    MetalGerry got a reaction from sjhdesmond in Beginner checking in... and, how do I know my coin is real??   
    Thanks for having me on this forum.
    In the US and thinking of buying my first bullions, despite all time high costs....seeing the inflation in the US is climbing up...
    Right now focused on deciding on buying online vs. local dealers.  Very much afraid of being sold a fake coin by a dealer since I have no idea how to tell... don't really have much confidence in general in local shops, even those that are listed on the official dealer locator page on the US Mint website... Thinking that buying online from "Authorized Purchasers of US Mint bullion" may be safer for a beginner...
  20. Like
    MetalGerry reacted to GBStacking in Beginner checking in... and, how do I know my coin is real??   
    @MetalGerry There are a lot of UK members on here, but the US is pretty well represented, there is a specific sales thread for US and Canada, a pinned thread for gold deals in US and Canada and about 58 pages of members showing with their location as the US.  There are a very large number of threads though where we all chip in about our love of shiny things. I've found a wealth of info on here, and for a lot of things, it doesn't matter where someone is if they are discussing differences in coins or highlighting things to look out for. We all ultimately get access to a lot of the same things, however i must admit to getting a little green with envy that you guys states side don't have to pay VAT on your silver!  
  21. Like
    MetalGerry reacted to modofantasma in Beginner checking in... and, how do I know my coin is real??   
    Welcome to the forum. I'd say it's worth buying from a reputable dealer at least initially until you know what's what. Not worth trying to save a few bucks buying from someone you don't know or hasn't got a track record. Look for established members of the forum in your area too maybe for a purchase 
  22. Like
    MetalGerry got a reaction from Arganto in Beginner checking in... and, how do I know my coin is real??   
    Thanks for having me on this forum.
    In the US and thinking of buying my first bullions, despite all time high costs....seeing the inflation in the US is climbing up...
    Right now focused on deciding on buying online vs. local dealers.  Very much afraid of being sold a fake coin by a dealer since I have no idea how to tell... don't really have much confidence in general in local shops, even those that are listed on the official dealer locator page on the US Mint website... Thinking that buying online from "Authorized Purchasers of US Mint bullion" may be safer for a beginner...
  23. Like
    MetalGerry got a reaction from KevinFlynn in Beginner checking in... and, how do I know my coin is real??   
    Thanks for having me on this forum.
    In the US and thinking of buying my first bullions, despite all time high costs....seeing the inflation in the US is climbing up...
    Right now focused on deciding on buying online vs. local dealers.  Very much afraid of being sold a fake coin by a dealer since I have no idea how to tell... don't really have much confidence in general in local shops, even those that are listed on the official dealer locator page on the US Mint website... Thinking that buying online from "Authorized Purchasers of US Mint bullion" may be safer for a beginner...
  24. Like
    MetalGerry got a reaction from trp in Beginner checking in... and, how do I know my coin is real??   
    Thanks for having me on this forum.
    In the US and thinking of buying my first bullions, despite all time high costs....seeing the inflation in the US is climbing up...
    Right now focused on deciding on buying online vs. local dealers.  Very much afraid of being sold a fake coin by a dealer since I have no idea how to tell... don't really have much confidence in general in local shops, even those that are listed on the official dealer locator page on the US Mint website... Thinking that buying online from "Authorized Purchasers of US Mint bullion" may be safer for a beginner...
  25. Like
    MetalGerry got a reaction from Zhorro in Beginner checking in... and, how do I know my coin is real??   
    Thanks for having me on this forum.
    In the US and thinking of buying my first bullions, despite all time high costs....seeing the inflation in the US is climbing up...
    Right now focused on deciding on buying online vs. local dealers.  Very much afraid of being sold a fake coin by a dealer since I have no idea how to tell... don't really have much confidence in general in local shops, even those that are listed on the official dealer locator page on the US Mint website... Thinking that buying online from "Authorized Purchasers of US Mint bullion" may be safer for a beginner...
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