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In this article, I'm writing about Gold & Silver
I grew up watching my father buy and stack gold & silver since the mid-'80s and acquire copious amounts, then sell at highs, buy more at the lows. I never really understood or cared about the importance growing up, too busy with school, work, or my personal life.
Now that I'm older I've become a big investor in several outlets, one of those outlets is Gold (Au) & Silver (Ag). I'll discuss this in greater detail and talk about my sources, type to buy, and best method of payment. Along with a basic understanding of spot prices & premium percentages so that you can buy with confidence.
Concurrently, Gold is at $1879.50 an ounce and silver is $28.05.
Spot & Premiums:
Spot price= current dollar value + meaning, if someone is selling you an ounce of gold for $100 over the spot price, he's getting $1979.50 an ounce. Premium is similar to spot price, an example of premium pricing is name brand merchandise like Nike or Gucci. In this case, Valcambi, American Eagles, Chii Woo series, and fractional bullion fetch premium prices.
How to Pay:
When buying you'll have a few options; wire transfer, debit or credit card, check, Paypal, and my favorite crypto. They accept $BTC, $ETH, $BCH, $XRP, and $DOGE and you'll need a digital wallet like @Bitpay to complete the purchase. I've noticed over the past year that when you pay with crypto your order processes faster compared to wire or credit card.
Types to Buy:
So when buying you'll want to focus on smaller denominations if possible compared to whole ounces of gold (31g) or a kilo of silver (1,000 grams). Think of it as actual currency, will you pay an ounce of gold for dinner or have fractional and pay 1 gram for dinner. Makes sense right?
With this comes premium pricing, the smaller the denomination, the higher premium you pay. One ounce of gold costs $1,940.00 whereas 31 individual grams will cost upwards of $2700.00.
Stay away from colored coins if you are looking to sell, these always have a huge premium and are considered "collector's items" most people will not pay what you paid for it so keep that in mind. Other coins like Canadian Maples (Canadian), American Eagles (American), Panda series (Japanese), and Chii Woo (Korean) are huge and always a solid investment. Bars are great and measure in grams, ounces, and kilos, check out the Valcambi series.
Sources:
My #1 place to buy is @JMBullion.com, they have the best pricing available on spot and premiums but their inventory is a little weak, keep a lookout for new arrivals. Next is APMEX.com, they have a 1-4% higher spot & premium but a large inventory. These two are by far the best places to buy gold & silver and have a great insurance policy on lost or stolen mail. This is where 90% of my crypto profit goes.
In closing I'll leave you with this to think about;
All new electronics such as smartphones, Electric cars, MRI machines require silver to make and there's only so much. If the power goes out how will you buy what you need? If the dollar becomes toilet paper, what will you use to trade with or barter? God's currency, silver & gold has been used for thousands of years and it's not going anywhere except up.
Until next time,
