So we recently began asking people to share their first gold/silver bullion buying experience. Little did we know how “off the radar” and hush-hush everyone would be. I’ve offered to not release any names but only the text sent our way. By sharing these types of stories with other buyers and curious investors we are working faster than the unethical bullion dealers can keep up. With peers near and far sharing their experiences, we’ll surely create an intelligent group of physical precious metal buyers who can pass the knowledge down.
So here’s one story from a reader about his transaction that happened over, none other than, our centripetal force of nature: Facebook.
“I knew my friend had some gold bars. I wanted one. So I sent him a facebook message asking if he was willing to sell me one. He was pissed that I sent a facebook message considering that he wanted his gold ownership to be ‘off the radar’. Regardless, he sold me a 1 ounce Credit Suisse ingot for Spot.
A few days later, I sent the ingot, plus $200 in twenty-dollar bills to my friend, a gold/silver dealer in Montana. He exchanged the CS bar for 10, 1/10th ounce Kruggerands.
I don’t really consider the Kruggerands and bag of junk silver an ‘investment’ but rather a hedge on ‘tail events’ like hyperinflation, currency controls, etc.”
One great point here is that the reader, who we’ll call Jane for now, wasn’t aware of the privacy measures her seller was trying to take. Not her fault, if you ask me. On another note, strategic plays with buying and selling gold and silver is a great way to immerse yourself in the market as well as connect with local dealers, who will most likely be the best place to sell your physical PM’s.
Submit your first silver or gold buying experience today in the comments section! We’d love to hear from you, and I’m sure our readers would too!