Buy Gold and Silver Safely
The precious metal market is at an all-time high, so do your research before you buy gold and silver. It is important that you have also researched your dealer. Also, know the value of what you are buying and the best options for your hard-earned dollar. Gold and silver are great ways to maintain investments that are rarely even known about by the Government. When selling gold and silver, the dealer only reports the value if it is over $5,000. When purchasing gold and silver, the dealer only reports the value if the purchase is over $10,000 in cash. These are important numbers to be aware of when building your collection.
First, determine the most reputable dealer in your area or online. You can check with the Better Business Bureau and determine the types of complaints lodged against a particular company. Then get some price quotes on what you are looking to buy and any fees they may have regarding your purchase, e.g., shipping. Buy gold and silver safely.
Second, start to build your collection with silver coins first. There are two types of coins that can be collected; bullion and numismatic coins. Numismatic coins are for experienced collectors that understand the rarity of the coin, the important years, and the quality of the coin itself. Bullion coins have a known weight and value and are the easiest to cash in and trade. 90% silver coins are the easiest to purchase and most widely used and recognized in the world. These 90% silver coins are dimes, quarters, and half-dollars minted prior to 1965,also termed “junk coins”. Silver rounds are also a great option, which are one ounce, 99.9% silver coins minted in the United States. It is a good idea to have both types of silver coins, because premiums on these coins fluctuate.
Third, introduce gold coins into your portfolio. Foreign coins are the most highly recommended gold coins to purchase. Krugerrands, Austrian 100 Coronaes, and Mexican 50 Pesos are the top three recommended foreign gold coins. These coins cost less per ounce and give more gold for your money. Other popular coins are the U.S. Gold Eagle, U. S. Buffalo, and the Canadian Maple Leaf. Purity is not the same in these coins, but purity is fairly irrelevant in the gold and silver business. Payment is made based on the weight of the gold and silver.
What are the reasons you should buy gold and silver?
Gold and silver is another investment that can keep you diversified. Stocks can always crash, liquid funds can always be confiscated, and material possessions can be confiscated. The U.S. Government is not in the practice of confiscating gold and silver coins from individuals. Most individuals do not purchase enough coins to even have a paper trail or a report to the IRS. Buy gold and silver safely whenever you do choose to invest.
The value of gold and silver continues to rise. These precious metals are constantly increasing in value and ensuring that they are a valid way to save for retirement. They are not risky like stocks and investments. Investors also worry that the Federal Reserve may print so many dollars that the dollar will become worthless. Some want to have gold and silver on hand if there is a crash in the market and the bank system. In that case, for survival, make sure you have U.S. gold and silver coins that are recognizable to use in trade. If you have foreign coins in your reserve, the people you are trading with may not realize (or believe) the value you are stating the coin has.
Whatever your reason for buying gold and silver, make sure you do it safely and effectively. Determine your main objective in the purchase of these precious metals and research the best avenue to achieve your goal. The business of gold and silver buying is big business and if you are not careful, you may fall victim to scams and over-priced coins. Keep up-to-date in the value of gold and silver and determine when the best time to buy is based on the market. Either way buy gold and silver and enjoy diversification.