Results 1 to 7 of 7

Thread: Question on 'allotment buying' for PMs, silver etc.

  1. #1

    Default Question on 'allotment buying' for PMs, silver etc.

    Hey, I've always bought silver from APMEX just whenever I had extra to throw at it, but I'm about to do something different and I need some advice on how to accomplish it.

    I'm starting a pretty decent independent contract that involves daily work, so I'm finally making OK money as an indy, but that means I have to deal with my own taxes at year end. What I want to do is hold out all the money that would be withheld for taxes and sink it into silver, and then come tax time sell only the silver I need to pay the bill. As I see it, especially for 2014 and beyond this will be a profitable action.

    Problem is, APMEX (as far as I can tell) is not really set up for this kind of thing.

    Is there a bullion seller out there that will let me make regular payments, like say $150 a week, and then just ship whenever I hit 'x' volume in order to minimize the impact that shipping costs will have on this project?

    Thanks in advance!



  2. Remove this section of ads by registering.
  3. #2

    Default

    Is there anybody who can do this?

  4. #3

    Default

    Quote Originally Posted by GunnyFreedom View Post
    Is there anybody who can do this?
    I'm pretty sure bulliondirect will do something like that.
    http://www.bulliondirect.com/nucleo.do

    Ive never used that functionality but have purchased from them in the past.

    edit: yeah, there it is:
    http://www.bulliondirect.com/membership.do
    Accumulate orders for delivery

  5. #4

    Default

    Quote Originally Posted by specsaregood View Post
    I'm pretty sure bulliondirect will do something like that.
    http://www.bulliondirect.com/nucleo.do

    Ive never used that functionality but have purchased from them in the past.

    edit: yeah, there it is:
    http://www.bulliondirect.com/membership.do
    Thanks! This looks like the stuff. I'm going to have to figure out how it works. Probably have a couple weeks in hand and then cal them up and have a talk about it...

  6. #5

    Default

    Quote Originally Posted by GunnyFreedom View Post
    Thanks! This looks like the stuff. I'm going to have to figure out how it works. Probably have a couple weeks in hand and then cal them up and have a talk about it...
    APMEX is doing this as well now via their citadel subsidiary.
    But there is a fee with them.
    http://www.apmex.com/citadel
    http://www.cgdsi.com/faq.aspx

  7. #6

    Default

    Quote Originally Posted by specsaregood View Post
    APMEX is doing this as well now via their citadel subsidiary.
    But there is a fee with them.
    http://www.apmex.com/citadel
    http://www.cgdsi.com/faq.aspx
    I actually saw that before I posted, and I didn't like it because it seems to be geared more towards long-term storage...as in that seems more for people who want physical but want a 3rd party to hold it securely on a semi-permanent basis. The problem with doing what I want there is that I'm just looking to pay in incrementally, probably weekly, until I hit say $1000 or $2000 and then ship at that level to avoid getting eaten up in shipping charges. In this case I'd get hit with storage fees and then shipping fees so it won't really give me any benefit above saving it up locally and buying at $500 for immediate shipment every time. I'd still get eaten up one way or the other.

    The other thing I was considering was switching back and forth between silver and gold, since gold seems to be a little more reliable over time while silver has more upside potential. If I could do it however I wanted I would set it up automatically to where all I did was send say $300 a week and they ship $1200 in silver, $1200 in silver, $1200 in gold, $1200 in silver, $1200 in silver, $1200 in gold, $1200 in silver, $1200 in silver, $1200 in gold, $1200 in silver, $1200 in silver, $1200 in gold. This carries me through December, and then I have 4 months to sell off whatever I need to to make my tax bill....probably 'pausing' my purchasing those 4 months to drop my allotment into my tax bill since holding more PMs (especially at that time) would be more profitable.

  8. #7

    Default

    As of right now,JM Bullion has free shipping.I don't know for how long,they started it in December and it would be good for getting silver now and for however long this lasts without worrying about shipping costs.

    I have ordered from them twice in the past with complete satisfaction and I ordered from them again yesterday.Everything arrived quickly,well packaged and as ordered and described.
    http://www.jmbullion.com

    They are competitive in their pricing,this site compares several different PM dealers and JM Bullion is currently cheapest in 4 of the 10 items they track.

    https://comparesilverprices.com
    Last edited by mad cow; 01-25-2014 at 03:15 PM.
    Inspired by US Rep. Ron Paul of Texas, this site is dedicated to facilitating grassroots initiatives that aim to restore a sovereign limited constitutional Republic based on the rule of law, states' rights and individual rights. We seek to enshrine the original intent of our Founders to foster respect for private property, seek justice, provide opportunity, and to secure individual liberty for ourselves and our posterity.


    A police state is a small price to pay for living in the freest country on earth.



Similar Threads

  1. Buying physical silver question. Advice needed!
    By WilliamShrugged in forum Personal Prosperity
    Replies: 23
    Last Post: 03-20-2012, 12:47 PM
  2. Silver @ $33.71 (Silver pullback is a buying opportunity)
    By bobbyw24 in forum Economy & Markets
    Replies: 40
    Last Post: 05-10-2011, 01:59 PM
  3. Buying silver question....
    By BFranklin in forum Economy & Markets
    Replies: 32
    Last Post: 12-29-2010, 08:11 PM
  4. Is buying silver as good as buying gold?
    By JoeyA in forum Personal Prosperity
    Replies: 17
    Last Post: 03-08-2008, 02:54 PM
  5. Buying Gold and Silver, storage question?
    By tsetsefly in forum Personal Prosperity
    Replies: 17
    Last Post: 01-23-2008, 10:38 PM

Select a tag for more discussion on that topic

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •