The financial landscape is a strange one lately, more akin to the surface of Ganymede, Triton, or some otherworldly scene than to the familiar confines we call home. As a gold and silver bullion Miami investor, what can you do to compensate for these roller-coaster financial conditions?
Traditional investments that worked for generations come into question with rising inflation, unstable commodity markets, and the growing problems with shipping and receiving that hamper American industry. The answer to unstable markets since ancient times has been precious metals. Gold and silver are the primary precious metals most investors are comfortable with. Gold is higher for investing but retains greater value in less space.
Silver is a commodity that can be traded in bars, 90% silver American coins minted before 1964 and in various commemorative rounds in multiple sizes and weights. It can be a challenging field to navigate for novice investors.
What Method Should You Use To Invest In Precious Metals?
Unless you have your silver mine, a good claim on a river that you can pan gold from, or some other unique connection, you’re going to need a broker, online outlet, or local gold and silver exchange.
As an interested gold and silver bullion Miami investor, you have more market choices than many other regions of the United States. Local storefronts offer gold and silver purchasing investment options, and you have the same online outlets that everyone else does. The magic of local markets is that you see the product before laying down the cash to buy your silver and gold. The online world of precious metals is fraught with deception and counterfeiting.
An interesting thing to ask a local coin dealer is to see their cache of counterfeit coins. Every dealer has a few fakes that come across their counters. They arrive from foreign markets most of the time, but we have a few homegrown counterfeiters working too, especially in hard-to-find dealer coins.
With gold and silver bullion Miami purchases, you are wise to arrange an appointment with an established precious metal franchise and see what they have to offer. Do your homework in advance on the current market prices for gold and silver, check on the type of bullion you want to purchase, and consider where you’re going to store it. Many investors use their safes or fireproof vaults for bullion storage. In contrast, others store their investment at a storage facility, and still, others keep their precious metals in safe deposit boxes at their local bank.
Why Should You Invest In Gold Bullion And Silver Bullion?
One word answers this question, stability. Gold and silver prices rise and fall with the flow of the national and international markets, but precious metals are a tangible investment that has withstood the test of time.
For much of mankind’s history, gold was the measure of wealth and power. The Spanish Empire rose to prominence when Aztec and Inca gold flowed to Spain from Central and South America in the early 16th century.
The United States was on the gold standard until 1935, though it was a controversial political battle that began in the post-Civil War period and didn’t end until the Great Depression arrived.
In the present day, the Chinese government is a major buyer of precious metals. The Chinese now have more gold stored in government vaults than any other nation and continue to gather it. As a gold and silver bullion Miami investor, you need to be a student of the history behind the precious metal investment. It’s never the wrong time to invest in gold and silver if your goal is financial stability. There are times when growth is better in other financial investments, but those times come in much more stable market conditions.
When oil prices spiral skyward, the DOW bounces up and down like it’s on a trampoline, and a visit to the grocery store reveals prices jumping each week; it’s a time to look for stable investment opportunities. Gold and silver offer that stability.
Investing in gold and silver bullion is the wise choice for anyone who wants to ride the waves of financial storms. When the markets stabilize, inflation slows down, and investments like stocks and bonds become balanced in your favor between risk and gain, you can look beyond precious metal investing. Until then, the smart money is in the shiny stuff.
Should You Purchase Bullion Bars or Bullion Coins?
The heart of gold and silver bullion Miami precious metal investing is also the most fun. What format should you purchase your gold and silver in?
Remember those old western movies where the bank robbers broke open the safe in the boxcar on the train and started throwing and catching gold bars? Unless those guys were finalists in a world’s strongest man competition, it was all pure Hollywood.
A standard gold bar weighs 400 troy ounces, that’s a 7 x 3 5/8 x 1 3/4 inch rectangular chunk of bright metal weighing 27.5 pounds, nearly twice the weight of an Olympic shot put.
The good news with gold bars is that they are compact, 400 ounces of gold; when the market is at $2000 an ounce, you have one bar worth $800,000. That’s quite a chunk of change to have locked into one item.
Serious investors with tens of millions of more dollars prefer keeping all their eggs in one basket, so to speak, even if they’re heavier than a golden goose egg.
If you’re investing at a lower level, gold coins, silver bars, pre-1964 American dimes, quarters, half-dollars and dollars, and silver rounds are a better choice.
The standard investment for many gold buyers has been the American 20 dollar gold piece. The Indian Head and Augustus St. Gaudens 20 dollar gold pieces are arguably the most attractive American coin ever minted.
Gold Krugerrands from South Africa, Canadian Gold Maples, American Gold Eagles, and a few others from Australia, Great Britain, Mexico, and Austria are also popular in the one-ounce size.
Smaller denomination gold coins and gold rounds are a good investment and allow you to purchase at a lower price. The benefit to these smaller coins is that they can be stored easily in different locations. The caveat is that there may be higher fees associated with their purchase since you might have up to 10 times the number of coins as found in a single one-ounce purchase.
The 1/10 ounce size is popular among many investors. If you want to invest in American gold coins, you have a lot of choices there as well, with one dollar, two-and-a-half dollar, 10 dollars, and 20 dollars denominations easy to find. If you like a bit of eccentricity in your investment, you can buy three-dollar American gold coins as well.
If silver is more your style, the variety is incredible.
When purchasing American 90% silver coins for bullion content only, it is best to purchase Roosevelt dimes, Washington quarters, Franklin, and Kennedy half dollars. These are the most recently minted coins, with the last mint mark 1964.
Older coins such as the Barber series, Walking Liberty Halves, and Standing Liberty Quarters are more attractive. Still, circulated coins in these denominations are usually worn out, meaning the silver content can be as low as 70% in a good work pre-1945 silver coin compared to a more modern coin.
Silver bars can be purchased in hundreds of ounces or just a single one-ounce round. The choice of how much and what style you wish is entirely personal. Some gold and silver bullion Miami investors choose rounds with historical or emotional meaning to them.
You can even get silver rounds and bars marked with your image and message, but that comes at a higher price, and if you’re investing for the security of bullion, it’s probably not a choice for you.
Which Is The Best Place To Buy A Bullion?
Buying bullion is a serious process. Gold and silver bullion Miami investors need to do their homework and find a place with impeccable credentials like Diamond Banc. A company that sells gold and silver bullion and offers services such as evaluating the value of coins, medals, bars, and even jewelry is an excellent place to look for investment opportunities in the precious metal market.
The investment market extends well beyond your local bank, your local investment advisor, and even beyond that, coffee can be full of coins you buried in the backyard.
Investing in precious metals is a global challenge. People across the face of the globe are thinking of stable, long-term investment strategies just as you are.
Any serious gold and silver bullion Miami investor needs to realize that gold, silver, and other precious metals hedge against the volatility of the modern financial world.
Do your homework, find the product that works best for you, and find a reputable dealer to purchase those precious metals from.
Shortcuts and too good to be true prices are always a bad idea.
Investing in your future as a gold and silver bullion Miami investor is choosing a rock amid the waves of financial uncertainty.