If you want to expand your portfolio to include precious metals, here are some considerations: a single ounce of gold stores more value than silver. If you need portability for a large amount of wealth gold coins and bars will be your primary precious metals investment. Currently an ounce of gold is about $1550. With less than a pound of coins in your purse or backpack you can conveniently move $25,000 in value.
What gold offers in portability it lacks in divisibility. This is where silver comes in. You may not be able to move $25,000 of silver conveniently (weighing around 50 pounds!). But because of it’s lower value per ounce silver is an excellent mechanism of exchange for things like food, gas, clean water, or tools if the dollar hyper-inflates or crashes.
You can purchase silver in bars (100 oz, 10 oz) or coins (1 ounce, or U.S. government issued pre-1965 halves, quarters and dimes). With the smaller denomination coins like US quarters you will have portability for a small amount of cash (40 quarters is about $150 dollars worth) and you’ll have coinage that should allow you the ability to purchase just about any item someone is willing to sell.
Silver allows you to make modest, weekly investments of anywhere from $5 to $50 dollars and still build a store of wealth.
If you are investing a large sum of money into precious metals, gather details about the types of coins you are buying, especially if you’re buying gold. Acquire a coin caliper and/or testing kit to ensure you’re getting what is being advertised. More...
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