BTC for precious metals


#1

Just got done placing another order for some silver bars from ProvidentMetals.com. Love that site and love turning some of my BTC into precious metals, diversify my holdings a little more. I usually try and invest 1/4 of my weekly payouts into precious metals, throw em in my safe and sit back and watch the price grow (hopefully)!


#2

Awesome. I’ve been playing with the same idea for a while now but keep ending up trading alts. I never heard of the site above, was that your first order with them?

Does anyone have additional links of reputable sites that sell gold etc? @Bitminertopia I think you would know a few right?


#3

This is not my first order, have order with them many times in the past. The accept BTC, LTC and DOGE as payments.

Amagimetals.com is another precious metals site that accepts crypto. The cool thing is that you get a discount over paying with debit card / check.

Both ProvidentMetals.com and Amagimetals.com sell good from reputable foundries.


#4

Thanks buddy. Gonna check them out. Not sure what the legal stand is in the EU Custom wise if I order from a supplier outside the EU. Need to look into that since I don’t like to pay duty, tax or anything similar :slight_smile:


#5

How does it work, if say, you had someone in the USA that purchased the metal and then sent it to the EU? Not sure if it is only if you buy something or if it is just about the shipping to and from destination.


#6

I shall find out. :wink:


#7

Its a good time to get silver after the Alibbaba dump, It went from $21-$22 spot to $16 and change. Silvertowne takes Fiat only but price+ free shipping on some items (US) is awsome.

@mharter you can look at a drop ship type of setup, though I have no idea about import laws in the EU.


#8

I do to some extend but need to check it out for precious metals. If all fails then I can always get it shipped to Gibraltar instead.


#9

This is my plan if/when LTCG pays out again… So much easier to convert BTC to precious metals than go through banks and IRS and all that other legal mumbo jumbo.

Plus!!! If you have $1m worth of gold $1 coins… It doesn’t count as $1m it counts as the price of the currency itself…

So you can carry tons of money and still be under the $10k threshold… Just a FYI


#10

Here is a graphic from the JMBullion.com website, regarding tax laws here in the US. A pretty good way to go from BTC to Fiat. Also, the American Eagles and Canadian Maple Leafs are tax exempt regardless of quantity.


#11

yep have put over 20,000 worth of orders through Providentmetals over the last month or so. got a couple of american Eagles but mostly buying the Canadian Maple 1oz coins to dump for fiat. so far its been the easiest method for me of getting BTC to cash in pocket.


#12

Would Perth Mint coins not be easier to sell for you? I know well known US mints are easyier to sell for me.(exept Maples those go eazy.) Lots of coins/bars are counterfits here im very carfull to get all mine direct from the mint, and I still size and scale them.


#13

If/when that happens the LTCGear customers will own about 50% of all BTC in circulation :laughing:

Thanks!


#14

the double eagles I got are pre 33 gold - those and other odd ball stuff I am hanging onto - the only current mint I get is the Canadian Maple’s as they are so easy to offload as everyone takes them.


#15

I use Silvertown Mint almost exclusivly for my buys, and sell to APMEX, (Its only 1.5 hours to their OKC location). They have always been good to me. I have never had a bad peice of Silver from Silvertown, and never had any problems with APMEX.


#16

Why the Canadian Maple? Assuming it’s tax exempt…

Even if it’s tax exempt… Would I technically be breaking laws/avoiding taxes by converting BTC to Canadian Maples or other tax exempt coin? Then converting the coin to fiat?

This seems like a huge loophole if legal and not taxable.


#17

Canadian maples are .9999 insted of .999 pure, very recognized and made by a Government mint as opposed to a private one. that means if the price of silver/gold drops below face value they are still worth face value. Very eazy to sell because of those qualities, most anyone recognizes them.


#18

This exactly, is why I prefer the Maple Leafs. The American Eagles are actually 1.25oz with with only 1oz of silver in it. I don’t like the fact that they are not pure silver and .9999 at that.


#19

Personally i like Agora(being rebranded as www.agoracommodities.com )& www.shinybars.com/ myself i like my lil 1% bonus & the Valcambi CombiBars with the 1g. sections that are very convenient.
Have heard good things about www.amagimetals.com, over a dozen recomendations, mostly from Aussies. You are in Euroland & Bitcoin4Gold has restructured… so www.bitgild.com or www.bitcoincommodities.com might be the best choices depending on shipping.
Despite their name featuring BTC they take over a dozen crypto currencies. Including feathercoin…if you got stuck with those when Hashie stopped mining. Know lots of ppl that bought metal with their Feathercoin instead of going through the hassle of trying to ride it on the market to get their money back.
Silver, Gold, Palladium& Platinum are all up though…so take your time & let your BTC rise a lil to get more ‘bang for your Buck’. Rhodium was just down, due to the flux in the Copper market… so if you like that you might get a good buy before the next manufacturing surge hits.I usually just go with the standards though Gold, Silver, & Copper for the long run, not into trading of physical metals…just in it because metal is the only commodity that holds & mostly increases in value when in a cycle of hyperinflation which we are currently in. :panda_face:


#20

I knew I could count on you :koala:

You are in Euroland & Bitcoin4Gold has restructured… so www.bitgild.com or www.bitcoincommodities.com might be the best choices depending on shipping.

Thanks a lot, I’ll check them out later today.