Many people are interested in buying precious metals right now. And eBay is making it easy to buy gold coins and silver coins with its APMEX partnership.
Right now, there is a lot of concern about the economy. No matter who wins the upcoming presidential election, it's going to take some doing to “fix” the economy. In times like these, when many think that an economic apocalypse is inevitable, the popular thing is to turn to precious metals like gold and silver.
Buying precious metals, and even hoarding coins, becomes popular in times of uncertainty, since many people have this idea that something tangible, that they can hold, is more valuable than fiat currency. And, just as many other forms of investing have become more accessible to more people thanks to technology, it's now possible to easily purchase gold and silver coins and bars.
APMEX Bullion Center on eBay
Recently, AMPEX partnered big time with eBay, and it's possible to buy gold coins and bars, as well as silver coins and bars. If you're going to buy silver and gold coins and bars, this isn't too bad a choice. The pricing is transparent, and there is a wide selection of coins and bars to choose from, including US gold coins and Canadian silver maple leaf coins.
On top of that, eBay Buy Protection covers your purchases of precious metals through the APMEX Bullion Center on eBay. That's not a bad deal at all.
Personally, I'm not that into investing in physical forms of precious metals, and I'm not really into coin hoarding, although I have some interesting older pennies, and a few silver dollars that I received as gifts over the years from awesome grandparents. I tend to think that if the economic apocalypse does arrive, or if some sort of natural disaster strikes and causes serious problems, my emergency preparedness supplies and my survival training will be of greater help than bits of metal.
However, I do see the appeal of investing in gold coins and bars. Although I'd be more inclined to invest in silver, since it's less expensive right now, and still a precious metal. If inflation sets in, silver's going to be riding gold's coattails higher, and it's more affordably priced right now.
Things to Think about Before You Buy Gold Coins and Bars
Even if you think that it's a great investment to buy gold coins and bars, as well as silver, you do need to understand the implications of your purchase. Some of the things to keep in mind include:
- Where will you keep it? You need to have a place to keep your precious metals. Someplace safe and accessible. If you think the apocalypse is coming, keeping your metals in a vault at a bank might not be the most accessible choice. Many people get large fireproof safes to hold their precious metals and hoarded coins.
- What about takes??Don't forget about the tax implications. Realize that physical precious metals are taxed as collectibles. When the market value goes up, they aren't taxed the same way as long-term capital gains. Right now, the capital gains tax rate for collectibles is 28%. So, if you buy a silver maple leaf on eBay for $36.86, and you decide to sell it in more than a year at $50, you will owe 28% taxes on it.
- Will you be able to use it? Another consideration is whether you will actually be able to use your gold and silver coins and bars. If everyone's wealth is wiped out, will you be able to actually get what you need with it? Or will everyone be too poor to even be able to accept your precious metals?
There are some interesting implications involved with investing in physical precious metals. Ultimately, you have to consider your goal, and what you hope to accomplish when you buy gold coins and bars. For some, the strategy works well, and they feel safer about the situation with the help of tangible forms of wealth. Consider your situation, what you can afford, and your long-term goals. If you are going to invest in gold and silver coins and bars, you could do much worse than going to eBay and buying through APMEX.
What do you think? Do you invest in gold coins and bars and other physical forms of wealth? Why or why not?