Buying silver & gold

[foxtrade]

I hope you can help me and the other people that has the same problem.
What is the right way to invest my money on physical silver and gold? What should be done to buy & sell them at their actual market price or very near? How do it works? Are there better websites for this?

[Joe Ross]

There are probably better websites for this, but I have no idea which ones they are. The most direct way to buy gold and silver is to buy it directly from the exchange. That means taking physical delivery at the expiration of a futures contract. I don't know if this is possible anymore unless you are a provable user or hedger. Check with your broker to see if you can actually take delivery.

[Jim A.]

Foxtrade,

I looked into taking physical possession of a silver contract once. There are only a very few brokers that will do this now. Most of the will hold a certificate in your name which represents the physical metal.

I did discover one broker Lind-Waldock, (now MFGlobal), will actually deliver the physical silver to you. You will need 100% margin to buy the contract and there will be other shipping and handling charges. You can find them on the web and give them a call. They were more than happy to answer my questions about taking physical possession and how to do it.

[vinnie]

Foxtrade,
Take a look at Bullionvault.com - I've been with them for 2 years now and very happy with them.