Bitcoin Forum
April 25, 2024, 02:37:22 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Buying Precious Metals?  (Read 1389 times)
ElMoIsEviL (OP)
Full Member
***
Offline Offline

Activity: 182
Merit: 100

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
February 13, 2012, 11:25:37 PM
 #1

Anybody purchase precious Metals using Bitcoins before? Anybody done it across borders in say North America?

Anything I should know regarding levies, taxes etc?

I'm fairly new to this bitcoin thing. Been at it for around 3 weeks so forgive my "newbness"

Thanks.  Smiley

Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714012642
Hero Member
*
Offline Offline

Posts: 1714012642

View Profile Personal Message (Offline)

Ignore
1714012642
Reply with quote  #2

1714012642
Report to moderator
556j
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250


View Profile
February 13, 2012, 11:35:51 PM
 #2

There are a few places that will sell coins or bullion but as with every BTC vendor they think because it's sold for BTC they can charge high prices for the novelty factor I guess. It just doesn't make sense to pay their joke of a price when you can just cash out the BTC at an exchange and buy the metals from apmex. Even with their credit card fees plus BTC exchange and withdrawal fees it will be lower. If you pay with check or money order it's cheaper yet.

Maybe you have a reason to want to buy directly with BTC? But you can do anonymous buys much cheaper pretty much anywhere not associated with BTC. And the company will be much more trusted than anyone you will deal with that uses bitcoins.
BitcoinWorld
Newbie
*
Offline Offline

Activity: 38
Merit: 0



View Profile
February 14, 2012, 10:06:10 AM
 #3

I saw some silver coins on Bitmit.net, but as mentioned previously, they are ridiculously expensive

I'm looking to acquire my first bitcoins and I also happen to be an amateur silver collector, if you would want to do an exchange, you can PM me and we could probably set something up through a third party like bitmit.net

Wandering Albatross
Member
**
Offline Offline

Activity: 70
Merit: 10



View Profile
February 14, 2012, 09:36:44 PM
 #4

Do they send you the precious metal once you buy it? If not how do you know it exists? They send you a picture of it?

BTC: 1JgPAC8RVeh7RXqzmeL8xt3fvYahRXL3fP
aseldon
Member
**
Offline Offline

Activity: 64
Merit: 10



View Profile
February 16, 2012, 03:00:32 AM
 #5

They do send you the physical Gold/Silver but their prices are waaay over spot. I would love to use BTC to buy precious metals but at this time there isn't an affordable place to do that.
Coinabul
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500


Coinabul - Gold Unbarred


View Profile WWW
February 16, 2012, 03:13:03 AM
 #6

*Waves*
As Rat mentioned, we sell gold and silver for Bitcoin!
We're very competitive against our USD competitors. We also have pretty good shipping times!
We're a legally registered company, we follow all legal regulations, all in all, we are THE place to buy gold with BTC.
We will send our products anywhere in the world.
Let me know if you have any other questions,
-Jon

Coinabul.com - Gold Unbarred
Website owners, let me put my ads on your site! PM me!
CheezWiz
Newbie
*
Offline Offline

Activity: 31
Merit: 0



View Profile
February 20, 2012, 04:03:28 AM
 #7

I have been trading BC for Amazon Gift Cards via BTCBuy.info and then buying Silver Eagles... Have to look for the vendors that do not rape you on shipping but expect to pay a little over spot.
Projects
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


View Profile
February 22, 2012, 09:46:35 PM
 #8

Is there a place to sell pms for btc as I have some I would possibly sell

Buying Bitcoins for cash or gold/silver bullion many methods to pay you - pm me for more information
Bank transfer, Cash, Postal Order, Western Union, MoneyGram, SEPA, Amazon & More  - Worldwide Transfers Available
*NEW* BTC for Citibank P2P transfers - USD/EUR please pm me for more information
Coinabul
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500


Coinabul - Gold Unbarred


View Profile WWW
February 22, 2012, 11:11:02 PM
 #9

Is there a place to sell pms for btc as I have some I would possibly sell
We will buy any products that we sell on the site.

However, if you're looking to sell more antique items, you might do better putting them up on bitmit.

Thanks,
-Jon

Coinabul.com - Gold Unbarred
Website owners, let me put my ads on your site! PM me!
pointbiz
Sr. Member
****
Offline Offline

Activity: 437
Merit: 415

1ninja


View Profile
February 23, 2012, 02:00:01 AM
 #10

For a more worldly perspective...
Apmex.com says:
Quote
Do you have a minimum order?

Yes. Our minimum US order is $50.00 (USD) per transaction, regardless of the payment method. For any orders shipped to Canada, our minimum order is $250.00(USD) per transaction. The minimum order amount for Europe and Australia is $1500.00(USD) per transaction.

That's why I've ordered from coinabul.com They ship worldwide, I never saw anything about a minimum on their site. And shipping cost was reasonable.

Coder of: https://www.bitaddress.org      Thread
Open Source JavaScript Client-Side Bitcoin Wallet Generator
Donations: 1NiNja1bUmhSoTXozBRBEtR8LeF9TGbZBN   PGP
the joint
Legendary
*
Offline Offline

Activity: 1834
Merit: 1020



View Profile
February 23, 2012, 02:10:39 AM
 #11

There are a few places that will sell coins or bullion but as with every BTC vendor they think because it's sold for BTC they can charge high prices for the novelty factor I guess. It just doesn't make sense to pay their joke of a price when you can just cash out the BTC at an exchange and buy the metals from apmex. Even with their credit card fees plus BTC exchange and withdrawal fees it will be lower. If you pay with check or money order it's cheaper yet.

Maybe you have a reason to want to buy directly with BTC? But you can do anonymous buys much cheaper pretty much anywhere not associated with BTC. And the company will be much more trusted than anyone you will deal with that uses bitcoins.

Well argued. Sounds reasonable enough. thanks for the input.

It MIGHT be lower.

Keep in mind that no matter where you go, buying small quantities of (especially) silver or gold coins will cost a good amount above spot price (5-10% or so).  The closer you get to 1 oz., the closer to spot price you will pay.

Local coin shops in the area are selling silver American Eagles for $45-$50.  Spot price is ~$37 for the same coin.

Credit card fees + trade commission fees + withdrawal fees (and, don't forget deposit fees for exchanges -- even if you've kept your money sitting in there for months, it's still a factor) and you're cutting it really really close.

You can sometimes find some good deals in the marketplace section.  I got a great deal on an auction and was able to get some silver shipped for under spot price.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!