Ask Ally

Why a Class Action Lawsuit Against Red Rock Secured and Similar Companies Is Unlikely to Succeed – And How to Protect Yourself. Today I’m going to specifically focus on the challenges of pursuing class action lawsuits against defunct or insolvent companies like Red Rock Secured – and give advice on protection against Gold IRA fraud

Advertising Click Fraud Now is Now Rife in Gold Niche – Here’s How to Combat the Fraudsters. Data shows fraudulent clicks can make up to 60-90% of all ad spend in pay per click (PPC) marketing with fraud adding to all costs for businesses and their customers…

Question: “I’m looking to buy my first investment gold but everywhere I look is selling it for far more than the listed spot price. Why can’t I buy gold at spot?” This week, Cath from Texas is asking why she can’t buy gold at it’s spot price. Like many investors Cath has seen gold’s listed “spot price” as a buying target but is disappointed she can’t buy at this price.

How Can an Investor Best Store Precious Metals at Home? Is Full Security Even Possible? Jane in Florida is asking what safes are best for gold home storage? In truth a good quality, properly rated safe is only a PART of a layered security strategy. Here I explain the 4 essential layers to properly protecting home storage bullion.

Question: “Ally, Bullion.Directory previously said Birch Gold were like a Volvo. Using this same logic what kind of cars would other gold IRA companies be?” Yes, usually when we review gold companies we look at typical things like price, service and reliability. But Dale in Clevelend wants us to review them as cars. So here goes…

Martin from California asks “What is Better in my IRA – Bullion or Collectible Coins? My IRA dealer is pushing some rare collectible coins but I feel they are too expensive. What to do?” Like many investors, he has a nagging feeling that these coins are more expensive than they ought to be – and with good reason!

Question: I’d like to invest in gold but I’ve got really hung up on when is the right time to buy, suffering from a bad case of analysis paralysis. I thought we were at a market high at $1800 and so I waited and now it’s at $2050 – what would you do? Timing markets is hard!

Question: I want to invest in gold but am uncertain how much gold to buy. What proportion of my portfolio would be best held in gold? Alexander in Florida asked a very common question and there are two ways to answer, one very short and one far longer. The short answer is…

Question: Is Bitcoin the New Gold? My husband and I were looking to add some gold to our modest portfolio but some friends said to forget gold and buy Bitcoin as it’s the ‘new’ gold, saying there’s much more potential for profit. Are they right? Is Bitcoin a natural successor to gold?

Question: I am looking to open a Gold IRA but am overwhelmed with choices, not helped by every company’s claims that they are number one.
What separates a good gold IRA company from an average or bad one? What should I look out for?

Question: I am thinking of buying a home and offset some of the down payment by using gold bullion as collateral for the mortgage. Can you recommend a Bank in the USA that would consider a combo down payment?

“Why should I consider storing my gold and silver offshore? What are the advantages?” George W. in California has been noticing a growing trend among gold investors for storing at least a portion of their precious metals offshore. He wants to know why and what can be gained from it.

Which of the following is better for trading gold? The physical metal, gold ETFs or Gold CFDs? Brian in London wrote asking for recommendations as to the best gold trading vehicle, looking at trading physical metals, Exchange-Traded Funds (ETFs) and Contracts for Difference (CFDs).

Question: I want to jump on the Gold IRA bandwagon but am struggling with how much I’d need in gold to properly hedge my other investments. What would you say is a minimum or maximum? What other factors will eat into my investment?

Amelia in Minnesota is wondering what the differences are between numismatic, collectible and ancient coins – and if there are any risks to look out for as a new investor. In the world of gold and silver investment, precious metal coins aren’t always simply coins. They can be gateways to history, art – and sometimes – a tidy profit.

Marc in New Jersey asked several questions related to difficulty in finding options for setting up an offshore gold IRA. And he’s right – things have changed over the past few years. Offshore gold IRAs were a huge boom a few years ago, thanks to aggressive marketing by one particular company and an inevitable rush of copycat competitors

Mark in the UK asks the best ways to determine the authenticity of a precious metals investment. There are a lot of fake bullion bars and coins out there and they are becoming increasingly hard to spot as the price of precious metals reach new all-time highs and criminals up their games to keep the profits flowing.

“I’m researching Cayman Islands gold storage options and want to know if this is a recommended location for holding investment precious metals” George in North Dakota has a sizeable inheritance and is looking to secure a portion of this in gold. He is worried about local storage in the US and is looking into options in the near-offshore market.

Andy in Texas asked me how I got started working in the gold industry and what I would recommend someone starting out. I’m not sure my exact route into working with gold could be replicated (or would even WANT to be replicated) by anyone – but the underlying path could definitely work for you, as it has done for hundreds of others.

Susan in Connecticut asks “Where do I buy gold for investment?” and I don’t think she’s being ironic. My first thought was you do realize you’re asking this on a platform listing over 1,600 gold dealers – no? But I rapidly packed away my incredulity when I saw our directory only lists 12 precious metals dealers listed in Connecticut.

“Is a gold IRA a good investment?” In my book, it’s not just good; it’s a tax-savvy treasure trove in the world of retirement planning. While we have something similar in the UK (a Gold SIPP) it’s not even half-way as good as the American IRA. Let’s delve into the why, starting with its tax-advantaged nature…

Sara in Maine asks “Why is gold NOT a good investment?” – and although it pains me to say, the yellow metal is NOT perfect for everyone. So I’m going to be rolling out a few common tropes used by many of those who are against gold as an investment – and one real issue that is badly wrong with the gold market and makes my blood boil.

Rod from Kentucky asks “Which gold investment is best?” a question with as many answers as there are stars in the sky! ‘Best’ is of course a subjective term, and what’s best for one investor might not be for another. To answer the question I’ll break it down from various angles – the most common cases where a specific course of gold-buying action may be ‘best’

In some ways this is like asking if buying a designer handbag is a better investment than stocks. It’s a loaded question with a glittery twist. Gold jewelry isn’t just a purchase; it’s often an emotional investment, a piece of art, and yes, sometimes a financial decision. But it’s not always this clear cut…

Gordon in California asks “Is a gold IRA safe?” He is referring to recent news concerning a large and well-known gold IRA dealer’s bankruptcy. Gold IRAs, in essence, are secure investments, particularly considering the enduring value and stability of gold as an asset. However, as with any financial venture things can go wrong when human greed is a factor…

Sarah from Ohio asked ‘Is Gold Investment Good’ – giving no context as to what type of gold investment, in what situation and what she defined as good. That’s a bit like asking if dessert is a good idea after dinner. In both cases, for me at least, the answer is a resounding yes, for seven reasons.

I’m going to be generalizing a lot here looking at typicals and averages, but for most of the following examples these reasons hold about as much weight as any. Of course how MUCH someone is looking to invest and how much their overall availability of funds stands at will have an impact too.

Which gold coins you buy are always going to be a personal preference, especially if you’re looking at the Bullion end of the market (as opposed to collectibles.) With my sensible hat on I’d say one 1oz gold coin is pretty much the same as any other 1oz gold coin, but then something like gold is about more than mere sense.