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speedybure (< 20)

Owninig Precious Metals: Dyanamcis Of Physical Ownership

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June 09, 2009 – Comments (5)

99% of the population usually think one of two things when they come across a gold bug..

1) Why Gold? Its just a pretty little metal and is not a real investment..

2) You guys are nuts, you have a gold fetish not supported by fundamentals whatsoever.

Well thats perfectly fine to have that mentality, but by doing so, you fail to realize the underlying reasoning behind PM accumulation. I would argue, its one of the most basical investments everyone should have in their portfolio or in their possession. In a Fiat Money world, inflation is unavoidable. That being said, gold mining has been declining for nearly a decade, with a consensus among geologists that the biggest gold mines in the world have already been discovered.

The reasoning behind buyng PM, can be to make money I believe is the case in the silver, but more importantly it is merely a store of value. In other words it is an instrument of wealth preservation not wealth accumulation. (unless of course you have the piece of mind to load up on the when they are the most out of favor i.e all through the 90's). "Diversification" was invented by brokers to avoid lawsuits! I think haveing 10-20% of your wealth in precious, but hey I'm paranoind. During the inflaltionary times that lie ahead of us, Gold and Silver will keep pace and even outpace the masive wave of inflation that has been brewing for the last decade. 

I am not here to argue where these metals are going, but even if you overpay for these metals, it is not of great importance. It is an insurance policy. 

5 Comments – Post Your Own

#1) On June 09, 2009 at 4:38 PM, GenericMike (< 20) wrote:

I've been looking into buying physical Precious Metals but can't decide what/where to get it. Any tips?

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#2) On June 09, 2009 at 5:00 PM, 100ozRound (29.42) wrote:

Mike - check out Apmex.com

I tried several places out before I used them and they are the best I've encountered.  They ship FAST too!

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#3) On June 09, 2009 at 5:14 PM, Jimmy2008 (< 20) wrote:

Mike,

 

If you live in or around NYC, then try kitco.com. I have bought 1000-oz silver bars and picked them up in NYC at no insurance and shipping costs. 0.30 US per oz over spot.

APMEX.com is very good, too.

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#4) On June 09, 2009 at 5:19 PM, XMFSinchiruna (27.12) wrote:

speedy ... you must have read my mind!! :)

The 5 Biggest Myths About Gold

 

GenericMike

I second 100ozRound's recommendation of APMEX, which I mentioned in my article on the Top 10 Reasons to Hold Gold, Part 1. APMEX has succeeded on the strength of its golden reputation, with very little (if any?) advertising, and I am happy to send investors their way. I have gotten to know the CEO personally through some of my research ... they are a great bunch of people. 

 

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#5) On June 09, 2009 at 5:38 PM, speedybure (< 20) wrote:


I've recently been using Goldeneaglecoins.com (depending on the premiums for a given production) and bulliondirect.com , which has great prices on plain silver rounds. It is also worth noting, holding your metals (Silver due to the size) at the Perth Mint in Australia. You just gotta watch out for people trying to peddle so called "rare coins"

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