Thursday, October 23, 2008

Precious Metals

The most common precious metals to invest in are:

(These prices change daily by the minute, strictly for comparison)
Gold - has been ranging between $700 an $1000 per ounce.
Silver - ranging right around $9-10 and ounce.
Platinum - right around $800 and $1100 an ounce.

There are many others than can be invested in but these are the most common.

Precious metals can come in many forms:

Bullion - bars, ingots or blanks
Coins - Maple leafs, Silver Eagles, Pandas, and MANY others
Jewelry - rings, necklaces, cuff links, etc.

There are many other forms but these are the most common.

The simplest and the cheapest way to get into collecting/investing in precious metals in what they call junk silver and the best way to start is in the form of coins. Any US dime, quarter, half-dollar or dollar coin minted prior to 1965 is 90% silver in content and certainly worth more than face value. All you need to do to get started in investing in precious metals (silver specifically) is to start going through the very change you have lying around and check for pre 65 coins (not nickels or pennies - although I collect them as well). I went through a pile of change I had and found several pre 65 coins without even exerting any effort. I go through and check the dates on all change that comes into my possession. Yes it is that simple...

You most likely have already started investing in gold in the form of jewelry. Gold is expensive and if you want to invest in something you will be able to actually use if the SHTF go for coins that are at least 1/10 of an ounce and preferably 1/20 of an ounce. You don't want to have everything tied up in a few 1 ounce coins because I don't think getting change will be a real option in the event the SHTF and you are paying for services in the form of a gold coin. Most likely in a scenario like that the service will cost what you have.

The old how much does it much do you have type deal...not good when your fortune is tied up in 1 ounce Pandas.

You really should at least get into hoarding some of that junk silver if you do nothing else because it will cost you nothing just a little effort. I like American Eagles but don't buy them from the mint as you will pay a fairly high price due to the "collector" syndrome. I like them and other coins like them (Maple Leafs, etc.) because they are .9999 pure and 1 troy ounce of silver. You will pay more than the going rate of silver for them strictly because there is collectable value...just be careful not to pay too much.

Get started today by going through your change and looking for pre 65 gems.

...that is all.

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  1. Not only is it a good investment strategy but its fun too! There are all kinds of gold/silver coins you can get. It's amazing how many different types of gold/silver bullion coins have been made. They are like pokemon! haha

  2. Unfortunately, Silver and now Gold are bearing steep premiums to purchase metals you can hold in your hands - if you can find them for sale locally. I call my dealer and for days at a time he tells me there nothing available at any price!
    Good luck on finding pre-65 coins in your pocket change. I think in the last year I've found three. People have been checking for these coins for over 40 years, now :)
    Kookster is right, though. Accumulating gold/silver coins IS fun and prudent.

  3. You can still find those pre 65 coins...sure it ain't as easy as it used but it is doable.

  4. The only butt kicker about this idea is the significant premiums for smaller fractional coins. Off the top of my head a one ounce gold coin costs around 800 bucks right now. An ounce worth of 1/10th coins will cost around 1,000 bucks. An ounce worth of 1/20th ounce coins will cost about 1,200 dollars. So the same ounce of gold in a one ounce coin costs about 25% more in 1/10ths and 50% more in 1/20ths.

    I think silver has a role instead of real small 1/20th gold pieces.

    The Moneychanger said it best
    "buy silver before gold, buy small gold before large gold."

    So get some silver then start working on smaller gold coins (1/10th and 1/4ish) and once you've got an ounce or maybe two of those then I personally would focus on one ounce rounds. That is what I suggest