I have set up a very simple portfolio for my wife's Roth IRA in hopes of giving her some nominal interest in our finances. Basically, she socks money away in Wellesley, but I'd really like to do an 80-20 blend of Wellesley and gold. The idea of just having bullion coins sitting in a safe deposit box isn't very exciting for my wife, and the idea of paying 200% over spot isn't very exciting for me. Any tips on buying gold jewelry for near spot? Does anyone have any thoughts on goldsilver.com's bullion jewelry program? Their current bid/ask spread is around 7% before shipping which doesn't seem terrible for jewelry.
http://goldsilver.com/buy-online/gold-without-borders/
Gold Bullion Jewelry?
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ryanb
Re: Gold Bullion Jewelry?
First off, welcome to the forum! You'll probably find many different answers here to questions you've never even thought of asking.ryanb wrote: I have set up a very simple portfolio for my wife's Roth IRA in hopes of giving her some nominal interest in our finances. Basically, she socks money away in Wellesley, but I'd really like to do an 80-20 blend of Wellesley and gold. The idea of just having bullion coins sitting in a safe deposit box isn't very exciting for my wife, and the idea of paying 200% over spot isn't very exciting for me. Any tips on buying gold jewelry for near spot? Does anyone have any thoughts on goldsilver.com's bullion jewelry program? Their current bid/ask spread is around 7% before shipping which doesn't seem terrible for jewelry.
http://goldsilver.com/buy-online/gold-without-borders/
Secondly, where are you getting this 200% over spot value from? A lot on this forum use goldmart.com for their low bid-ask spreads (disclaimer: I don't get anything from goldmart by recommending them, nor do I work for them)
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ryanb
Re: Gold Bullion Jewelry?
I'm pretty sure 200% or more over spot is typical for buying 14k or 18k jewelry from a local jewelry store. I run a Permanent Portfolio with bullion coins for myself (from goldmart.com in fact), I'm just trying to find a more pleasing middle ground for my wife.
There are various Asian jewelry stores online that do better (30-40% above spot) and I haven't tried any local coin/pawn/we-buy-gold type places, but I'm not really interested in low weight 14k pieces. I'd rather find something more substantial that is 22k. Am I the only one who'd like more semi-investment grade gold that my wife can enjoy?
There are various Asian jewelry stores online that do better (30-40% above spot) and I haven't tried any local coin/pawn/we-buy-gold type places, but I'm not really interested in low weight 14k pieces. I'd rather find something more substantial that is 22k. Am I the only one who'd like more semi-investment grade gold that my wife can enjoy?
Re: Gold Bullion Jewelry?
bullion caliber gold jewelry could be a tough one, you are probably looking for 22 carat or better and unless you have a in-law, relative or very good friend in the jewelry business you will probably pay retail, and that's if you can find the good stuff which is reasonably rare in the US. the other option is getting it from a country where investment gold jewelry is common, India and sri lanka come to mind but there are others, the problem there is having a local you trust or are related to who knows where to go and how to strike a deal (i did this once) and who can keep you out of the hands of tourist traps, ripoff artists, and scammers...
Last edited by l82start on Thu Mar 07, 2013 9:44 pm, edited 1 time in total.
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Re: Gold Bullion Jewelry?
Hi Ryan,
Let me add my welcome to the forum. While I'm a big fan of the HB 4x25 PP most of us aren't super dogmatic about it. My personal view is that the paramount thing is t be diversified in your asset and allocation. To which end I think an 80/20 portfolio consisting of Wellesley and gold is vastly superior to what most investors are doing. My thoughts on gold...
Jewelry is pricey. You are almost certainly going to pay up for it. Try and go with the coins if you can. Most people who are cool about gold actually tend to soften a bit when they are holding some in their hands. It's very psychological but when you hand your wife a gold coin and then a wad of paper money and ask which one can be printed at will she is likely to get it. You might also show her the Wikipedia entry for the great German hyperinflation. I am not a fan of scare tactics nor do I actually think such a scenario is likely but the point is IT COULD HAPPEN.
And of course if physical gold is an issue, IAU is a very convenient alternative though it is not ideal in the event of a catastrophic event.
Let me add my welcome to the forum. While I'm a big fan of the HB 4x25 PP most of us aren't super dogmatic about it. My personal view is that the paramount thing is t be diversified in your asset and allocation. To which end I think an 80/20 portfolio consisting of Wellesley and gold is vastly superior to what most investors are doing. My thoughts on gold...
Jewelry is pricey. You are almost certainly going to pay up for it. Try and go with the coins if you can. Most people who are cool about gold actually tend to soften a bit when they are holding some in their hands. It's very psychological but when you hand your wife a gold coin and then a wad of paper money and ask which one can be printed at will she is likely to get it. You might also show her the Wikipedia entry for the great German hyperinflation. I am not a fan of scare tactics nor do I actually think such a scenario is likely but the point is IT COULD HAPPEN.
And of course if physical gold is an issue, IAU is a very convenient alternative though it is not ideal in the event of a catastrophic event.
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Re: Gold Bullion Jewelry?
There is some fabrication cost with jewelry, and it is typically higher than coins. However just as it varies with different coins, it also varies with different jewelry. Simple rings are the cheapest. Then simple chains. And it goes up from there.
an except from a similar post I recently made in another thread:
If shopping for gold jewelry as an investment, you don't want the 18k or less garbage that is very prevalent in much of the U.S. and western Europe. Go for 22k or 24k like they do in Asia.
At Mustafa's in Singapore I picked a 22k gold bracelet for me, and a nice gold necklace for my spouse. Both are just shy of an ounce each. I also picked up a few 22k gold rings from a few grams up to about 15g. Premium for these pieces vary, but was a bit higher than for gold bullion coins. But such is also much less likely to draw attention as currency controls tighten. At least it doesn't draw attention as long as you keep the package well short of the 1980's Mr. T !
Dubai is another good place, perhaps the best place, to pick up gold jewelry at low premiums.
an except from a similar post I recently made in another thread:
If shopping for gold jewelry as an investment, you don't want the 18k or less garbage that is very prevalent in much of the U.S. and western Europe. Go for 22k or 24k like they do in Asia.
At Mustafa's in Singapore I picked a 22k gold bracelet for me, and a nice gold necklace for my spouse. Both are just shy of an ounce each. I also picked up a few 22k gold rings from a few grams up to about 15g. Premium for these pieces vary, but was a bit higher than for gold bullion coins. But such is also much less likely to draw attention as currency controls tighten. At least it doesn't draw attention as long as you keep the package well short of the 1980's Mr. T !
Dubai is another good place, perhaps the best place, to pick up gold jewelry at low premiums.