What business/businesses are you dealing with to make these transactions?
Who, in your opinion, are the most trustworthy in this business?
I’m just starting this process now, and I would like some feedback from some people already doing this.
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If you want to save in precious metals, first thing you need to know is to not talk about it to anyone. It is an exciting endeavor that is hard to resist, but it is imperative.
An LCS has benefits but are not universal. Some can be cheats or assholes. I use JM Bullion. Many say their prices are too high, I have been satisfied each time I've run a cost comparison. Buying online is an absolute breeze.
You need to understand premiums. Spot minus premium when you sell, spot plus premium when you buy. Popular items like Eagles will cost you more up front, but you'll do better when you sell. I think Eagles are too expensive. I get drawn to Maples. Silver Phils milk spot like crazy, I'm done with those. This is where you grow and decide for yourself. I buy all kinds of stuff. I like exploring.
Coins versus bars and rounds is another big topic. Backed by faith in government means nothing, but popularity and acceptance down the road when you want to sell is very much something. All of it is good, some things are better than others.
NO COLLECTIBLES. We aren't coin collecting. Weight!
If you make a purchase and the price goes down the next morning, don't let it bust up your head. This stuff is constantly on the move. It is all about longterm. I buy every other week. The prices prove themselves over time.
If you want to roll your 401K, you will need a custodian to be the third party keeping your accounting separate per IRS rules and a depository to hold the materials in a vault. There are security measures in the arrangement but who knows what he end of the world will look like. It is the only way not to pay the penalty and the tax.
Good luck.