The FEDs want us to believe that will paper money is just as good since gold, but it isn’t. That’s why it keeps taking more and more paper cash to buy an ounce of gold. I think everyone who considers our own current economic policy unsound needs to own some gold to hedge against runaway inflation.
How much gold should you own? Most investment professionals suggest you hold 10% of your assets in gold. That may sound intense to some people and not nearly sufficient to others. I think the exact amount boils down to your investment goals.
10% is a good general rule for most people in normal times. If you consider today to be “normal times”, then 10% is the right amount to buy. If you think these aren’t “normal times”, then you might think about increasing the amount you buy.
Buy as much gold as you can afford on a regular basis, in line with your financial goals. Set up a monthly allotment for buying gold and stick to it. Don’t try to predict the particular lows of the market and buy then. Chances are you won’t have saved sufficient cash when the market bottoms, to go make the major purchases you meant.
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Recently, I planned to really buy a lot of gold when it got listed below $1, 500 an ounce. It never got below $1, five hundred an ounce and I hadn’t stored the money for it, if it did. So , I continue to buy a small amount each month.
I also recommend buying gold coins instead of gold bars or other bullion. Coins are easier to liquidate in the event that needed, than bullion. It is impossible to predict whether or not the Government would confiscate gold bullion in the near future.
Our own dollar is no longer on the gold standard, so things are completely different compared to they were in 1933, when Roosevelt confiscated the gold bullion held by private citizens. I think a possibility likely gold will be confiscated once again, but not impossible.
It wasn’t till 1975 that US citizens were allowed to buy and hold gold once again. Since then, gold has been treated being a commodity. As a commodity, gold offers kept up with inflation, holding its value far better than silver.
Coins, especially rare gold coins are more unstable than bullion. In good times, they will get premium prices, in bad times they will get bullion prices when no one can afford their high quality prices.
If you buy for numismatic reasons only, follow the advice of buying the very best you can afford. If you sell, wait around until the good times. The prices will increase much more in good times and drop much more in the bad times. Therefore , bad times are the good times to BUY the upper level gold coin for your collection.
When you buy gold coins with regard to investment as well as collecting, I recommend purchasing common, high grade verities rather than the truly rare ones. They will hold their own value in bad times and obtain a substantial premium over spot gold in good times.
If you are buying cash for investment only, buy exactly what interests you. Gold eagles, gold maple leafs and gold pandas are often good choices. If you are more interested in value, find what coins cost the least premium over spot. Generally these are European gold coins.
Since I such as variety, I buy every example I can find. I collect brand new, old, foreign, domestic, bullion plus rare-ish type coins. I are usually a “type” collector, when it comes to precious metal and collect coins of a certain kind, rather than by date and mint. The gold coin field seems to be a good area for this style of gathering.
You should try to buy gold coins at the cheapest price you can, from someone you believe in. You should buy it on a regular basis. But remember, owning gold is far more important compared to waiting to get it at a specific price. That is, paying slightly a lot of when buying gold is better than not really owning any at all.