Collecting Gold for Financial Security – Guest Post
In this unstable economy, no one knows what will become of the US dollar. We all know that as of right now its value is at an all time low, and continuing this decline. However, are there other commodities that will be worth something when everything else has crashed? The good news is, yes, there are. Gold is something that will always hold value. You will never have to worry about your investment going to pot if it is spent on gold. There are several reasons for this but one is that, no matter what gold prices are now, they will not be the same tomorrow, or the day after that.
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Gold Prices Fluctuate
This is one of the reasons people tend to avoid collecting gold, rather investing their portfolio in other things. However, this is a very flawed way of thinking and here is why; gold prices go down, but they also go up. If you are to buy, let us say $2000 in gold right now, there is a good chance in a year it could be worth $20,000! While it is true that you might have to sit on your gold until the prices go up, we know that at this moment in time the value of gold is soaring.
Collect Gold Bars and Coins
So, what is the best kind of gold to collect, and where do you get it? Any gold is fine, but if you want to be a true collector, and investor of this precious metal, the best suggestion is to purchase coins and bars that are solid in weight. You can buy tiny, light pieces if you cannot afford to spend a lot of money at one time. However, over a significant period you will find yourself with a very good collection, if you budget yourself just right. There are hundreds of places, which sell gold bars and coins, and a simple Google search will suffice in finding them.
A Smarter Investment
Financial investment systems crash all the time. We see the stock market crash, we see forex traders lose everything, but one thing that we do not see is gold leading to the financial ruin of the investor. Over all, if you have joined the masses who are worried about what to do with their money, you might seriously consider collecting gold, of any kind at all.
Bre Anderson is a freelance writer and student at California State University, Long Beach where she is studying to receive her degree in Business Administration and Finance.
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This post has 6 comments
September 6th, 2012
Gold and diamonds are always two of the smartest investment. Probably the best backup system at present economy conditions.
Carl recently posted…Consumer Fraud Task Force Warns About Pitfalls Of Payday Loans
September 6th, 2012
You are correct Carl but you must watch the prices daily and buy when the price of gold is low. At the end of Feb. the price started to decline and at one point got down to 1,550, which would have been the best time to purchase. So the only advice I would give someone who wanted to invest is to buy low.
September 7th, 2012
I have to admit that I’ve never thought about investing in gold or any other precious metals for two reasons. One, trying to understand the process since I don’t believe you ever bring any of the gold home, and two, I keep trying to figure out how it increases in value when almost nothing continually increases in value. It’s just amazing, and a little bit scary as well.
Mitch Mitchell recently posted…5 Considerations To Have Before Taking Out A Loan
September 13th, 2012
Until I investigated the process I was hesitant about investing in gold too. But as long as you only buy from a creditable seller then the process is easy. If you are thinking about investing in any precious metals my first suggestion would be to do as much research as possible on current prices, past prices as well as sellers and buyers before you spend any money.
September 10th, 2012
No, buying gold is more speculation than investment. While it’s possible to make money by buying low and selling high, the vast majority of the data tells us that individual investors rarely accomplish that. Over the long run (and your investing lifetime IS a long run), gold won’t gain value, it merely trends up and then trends down. A spike in gold value that doesn’t accompany inflation (like the one we just saw) is related to fear in the market. Once that fear subsides, gold prices will fall again. Gold doesn’t fit the definition of an investment, either (as the stock market and real estate does), it’s merely a substance. I don’t recommend you take on buying gold now, especially after prices have gone sky high.
Hilary Martin, MBA, CFP® recently posted…The 401(k): A failed experiment?
September 13th, 2012
All true, but anything I put my money into I call an investment. 🙂