Online/On paper Precious Metals

[Shamatti]

Hi all

Not sure what it is called. I am looking for a website where I can buy and sell gold and silver and not have to have it phisically delivered to me. I must be able to buy and sell easily, without massive penalties. Or just trade one for the other when I want to?  Is there anything like that? Any recommendations would be appreciated. 

Thanks

 

[Tn21]

Bullion vault?

[Shamatti]

20 hours ago, Tn21 said:

Bullion vault?

 

Thanks for that I think I need a trading site rather than a vaulted gold site? Is there sucha thing? 

 

 

[MrTT]

11 minutes ago, Shamatti said:

 

Thanks for that I think I need a trading site rather than a vaulted gold site? Is there sucha thing? 

 

 

I think mike maloney on Goldsilver.com , have something like that.

[Shamatti]

Well, it looks like there is no such thing. I am confused as I thought this would be quite simple. I thought I could just buy and sell online like any other commodity, but no, apparently not. Unless I have missed something obvious? Looking for a way of trading the gold silver ratios without having to phisically hold the gold and silver. Hmmmm 

Edited May 31, 2021 by Shamatti

[Stuntman]

You can by ETFs (exchange-traded commodity funds) through most investment platforms and/or stockbrokers.

They have a mixed reputation on here but they would suit your needs perfectly.  You can buy or sell units in these funds on any trading day.

I use them - I have money in the iShares Physical Gold, Silver and Platinum funds (3 separate funds, all ultimately managed by BlackRock).  Similar funds are available from other providers.

The documents suggest that they do indeed hold the physical metals to back up the full value of the fund.  Others may think this is untrue or unlikely.

I am happy to hold these funds and manage any other risk beyond the pure commodity risk.  As always, do your own research.

[cliveb13]

I too think ETFs are close to what you want

OP. I am pretty sure these are unregulated investments so do your homework. 
CB 

[Shamatti]

Thanks guys, I will have a look.

 

[LawrenceChard]

On 19/05/2021 at 11:40, Shamatti said:

Hi all

Not sure what it is called. I am looking for a website where I can buy and sell gold and silver and not have to have it phisically delivered to me. I must be able to buy and sell easily, without massive penalties. Or just trade one for the other when I want to?  Is there anything like that? Any recommendations would be appreciated. 

Thanks

 

Yes, there is.

It's called a scam.

(I am only / mainly joking) 🙂