I don’t know all the terms and processes of investing in prevvious metals.
What is commission? Does affect me bieng in NJ. if it does what is the percentage?
I don’t know all the terms and processes of investing in prevvious metals.
What is commission? Does affect me bieng in NJ. if it does what is the percentage?
Commission is the amount the broker/seller charges you for the transaction. It’s the profit they make on the deal. Collectible coins are a whole different issue – your question sounds as if you wish to buy for the metal content.
Unless you can buy ingots in sufficient quantity to purchase a futures contract, you will be stuck with this fee. It varies greatly – shop around. The important thing to remember is the only important number is the bottom line total price. Compare it to the daily spot price for a rough idea of the premium you are paying.
Some people want to physically possess the gold or silver. If that’s you, you are probably stuck paying a commission/premium on what you buy.
This can be substantially avoided by buying stock in companies which mine or process the commodity you think is going to rise. Their stocks tend to rise with the commodity price, so you can achieve the appreciation while paying only the much cheaper trade fee for the stock.
The site below is a good source to track precious metal prices in real time.