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    BEWARE of These COMMON Pitfalls when Buying GOLD!



    #Gold #silver #preciousmetals
    In this video I talk about Some of the most common pitfalls out there when buying gold. Educate yourself on what the right kind of gold is for you and what kind of prices you can expect to both pay for your gold and what you can sell it for too. Gold investing is very easy but it is also fraught with potential issues and pitfalls. I talk today about some of the biggest pitfalls for overpaying for items that are very hard to sell at the other end of their lifespan in your stack.

    If you want to sign up as a buyer please email: byb@backyardbullion.com and if you have silver that you might want to sell then I want to hear from you as well!

    This video is my opinion only and should not be interpreted as financial advice.

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    Thanks for watching and I will see you next time!

    Topics covered in this video:
    Silver Price, Price of silver, gold price, price of gold, silver, gold, investing in silver, stacking silver, silver stacking, investing in gold, gold investing, gold stacking, silver investing, Coins, silver coins, silver bars, buy silver, buy gold, buying silver, buying gold, gold investment, silver investment, how to buy gold, how to buy silver, investing, inflation, recession, silver and gold, backyard bullion, BYB,

    View 39 Comments

    39 Comments

    1. john on

      I only buy from apmex or jm bullion. I figure if i get raped with the super high prices they like to charge… it has to be good..lol

    4. john on

      What do you think of poured gold bars? I like to buy the 1oz Perth mint poured bar. It's nice to handle a small bag of those with your hands sometimes! Lol. I've not checked resaleability here in the states, but i couldn't imagine i would be offered much less than spot. They are quite nice! I know a few others, like Credit Suisse , offers poured bars as well

    7. N on

      Great video as always! I understand your concern with the bars but if the buyer (especially the brokers) can verify it’s a real bad then isn’t it worth every penny regardless?

    8. Richard Metcalf on

      I have been thinking about picking up some sovereigns. The timing of this video was perfect. I didn't know that others produced them. You might have saved me from making a mistake. Thank you!👍

    10. Chris Lumb on

      Great video. Im still quite new to stacking gold and feel even the Royal Mint can be misleading. I have bought the 3 coin Memorial Sovereign set from the RM and they said that the Memorial Sovereigns would only be available until 31st Dec 22 but now I see according to their website that you can register interest in another 2022 bullion memorial sovereign to be ordered from the end of this January! I know my set will be proof but it never mentioned other 'versions' would be available at a later date so I feel a bit cheated now.

    11. Alexander Brunel on

      Great videos. Hello a question if I may, if a broker is selling a gold sovereign for £400.71 but the gold in the Sovereign is only worth £364.12 then that's £36ish per coin so 10% over spot if my maths is correct. Where can I get at 1 or 2% over spot (I am in UK)?

    15. Lee D.M on

      This is the first video of yours that made me worry. I too own a Metalor 50g gold bar, bought from Chards back in May. A good price, worked out just below £49 a gram. Being from Chards and looking identical to yours I can be assured mine isn’t a fake, right? 😮

    19. Carl Defoe on

      surely though, when buying non-trademarked sovereigns eg tristan da cunha or whatever, the important thing is the gold content? As long as you are getting gold content at or near spot price, you cannot go wrong, no? I mean, 1% or 2% above spot for boxed capsuled sovereigns with COA has to be a good price, no?

    21. David Martin on

      Graded coins aren’t always bought for the number and can be had for not a lot more than ungraded, however they can be classed as a bit more secure as they have been vetted and tested. Just a wee thought.

    24. George Wraith on

      Thanks byb great stuff, I had money in the Bank zero interest, inflation 10% devalued it. I believe buying gold has given me 10% profit even after paying well over spot…

    25. David Millar on

      rm Sovereigns and third party Sovereigns are just that Sovereigns. IOM Sovereigns are just as entitled as are all the other Sovereigns to be called Sovereigns.
      From the 15th century has there not been several different sovereign coins of varied sizes and weights.
      If the modern sovereign varies in composition then what actual is a sovereign? Are Australian sovereigns not actual sovereigns?

    27. David K on

      Great content. Heresy, I know but as a consumer I'm not enamored with (non numismatic) gold coins and their premiums. I purchase 1 oz bars for the lowest premium possible. Over the holidays, I jumped on special offers for 1 oz carded bars (Valcambi & Perth) at spot from online retailers. If I wanted to sell them today to my LCS, I would receive spot plus 1-2 dollars. If instead I had purchased a 1 oz Buffalo with a $120 premium, my LCS would buy the Buff for spot plus $19. So I would eat the $101 difference–the spread. To me that seems a compelling reason to keep costs low. I'm just not into fondling beautiful expensive bullion coins never intended for circulation. Not that there's anything wrong with it, but to me gold is gold. Five dollar Indians or Saint Gaudens Double Eagles are something else entirely in my book.

    28. MrsSputnik on

      I am so excited. I got the same notification about the new Sovereign from RM being posted. I think mine will take a little longer to arrive. 😊😊😊😊

    29. Da Bee on

      You never define "sovereign". True, it's not trademarked, but that doesn't mean the term is meaningless: in the trade it means simply "coined by the mint of an internationally recognized government to serve as legal tender". If that's your gold, you're good. Not that hard.

    31. Jade Nephrite on

      Regarding 5:20, that gold coin is the 2022 Gibraltar Saint George & the Dragon 22 karat gold Sovereign. The reverse side design is by Lucrezia Delfini and the obverse side effigy of Queen Elizabeth II is by Raphael Maklouf.

    32. Gavin Heslop on

      Would anyone recommend getting the new commemorative proof sovereign graded or just leave it as it comes.

      Just thinking about long term condition and value.
      Thanks

    34. NumismaticMaster on

      I would say as long as you know what you're buying, the "off brand Sovereigns" honestly aren't that bad. Same amount of Gold for often a cheaper price than a Royal Mint Sovereign. I agree what what those companies do is scummy, but they're still Gold at the end of the day, and the same amount of Gold as a regular Royal Mint Sovereign.

    36. Andy B on

      Tristan de Kuhna (sp?). That's a fascinating island I've fantasized traveling to… They have coins coming out of there? Not that I'm a buyer but what am interesting part of the world. Google has pics of it's bar the Albatross.

    39. stanian2 on

      I have a few 1oz metalor bars, bought from a reputable dealer as best value, I have receipts for them and they will most likely be part of an inheritance. If I wanted to sell them back to the same dealer it would be below spot anyway, but in many years to come it will still be above what I paid for them. I see many fake sovereigns for sale and as it is, so popular and such a simple design, it is as easy, if not easier to fake than the bars. Safest in my opinion by far are Britannia's. The first gold I bought has increased in value by 47% price iI paid against todays spot.

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