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How to Invest in Gold & Silver

September 12, 2011 By 3 Comments

Are you protected against inflation, especially the inflation in the year 2007 (5%) and 2008 (which may be 10%)? Is the value in your IRA account, mutual fund, or individual stocks going down? If any of the above is the case, then you definitely need to do something about it. However, do not just put all your savings in cash as it’ll rust away with inflation. Start investing it into gold and silver today with 5 different methods.  

Buy gold and silver stocks. This is probably the easiest way to start investing in gold and silver. On the other hand, investing in stocks even though they have real gold and silver can be risky because the management can screw things up. Also, the mines are reflected in their market value, but no one can tell exactly how much gold and silver they have in their mines. Thus, it could be wrong and you’ll be screwed. However, it’s still a good investment against inflation and really easy to start. You just open a brokerage either with Zecco (zecco.com), MB Trading (mbtrading.com) & Success Trade (successtrade.com) for cheap brokerages, Tradeking, Scottrade, & So Go Trade (sogotrade.com) for decent brokerages or Vanguard (vanguard.com), Fidelity (fidelity.com), & Etrade (etrade.com) for the known & safe brokerages. Some of the best gold stocks are Barrick Gold Corp (ticker is ABX), Gold Corp (GG), and Yamana Gold (AUY). Some of the best silver stocks are Pan American Silver Corp. (PAAS), Silver Wheaton Corp. (SLW), and iShares Silver Trust (SLV), a silver ETF (exchange traded fund, which is similar to an index fund). I recommend this to advanced investors, and not beginners.

Buy gold and silver mutual funds. There are many gold and silver mutual funds to choose from. Vanguard has the best one right now (ticker is VGPMX), Fidelity has one too (FSAGX), and USAG is also great. Just open a brokerage at Vanguard or Fidelity to buy their gold and silver mutual funds. You can buy Vanguard and other mutual funds at Fidelity and buy Fidelity and other mutual funds at Vanguard, so don’t sweat which one to choose from. If you can’t decide, then open a brokerage at both places. Remember that buying mutual funds from Vanguard using Fidelity or from Fidelity using Vanguard will incur an extra fee. This is less risky than buying individual gold and silver stocks for average investors since it’s diversified and managed by professionals for you. I highly recommend this to beginning investors.

Buy gold and silver jewelry. This is also another easy way to invest in gold and silver. Just go find a local jewelry shop to buy the jewelry you like. This is a bad investment for people who want to sell later to make profits because of the high commissions and spread. Also, the jewelry shop might not even want to buy back your jewelry and it’s difficult to find someone who wants to buy it at a fair price. I would not recommend this option.

Buy gold and silver coins & bars. This is probably the safest investment on earth, but don’t put all your money into gold and silver. I would put anywhere from 10% to 25%. You can buy the gold and silver coins & bars at Kitco (kitco.com), US Mint (usmint.gov), Bullion Direct (bulliondirect.com), or Gold Money (goldmoney.com). I like Kitco the best. Other ways to buy gold and silver coins & bars are on eBay or your local jewelry shop where you can get the coins & bars near the spot price. Be careful of the spread, commissions, and shipping cost (if you buy online) as it can kill your returns. I recommend this to all investors.

Buy egold. This is where you buy gold and have the firm hold the gold for you in their vault. You must be careful when buying egold as there are many scammers out there. A couple websites you can do this at are: e-gold.com, evogates.com, and goldex.net. I would not recommend this option. Are you protected against inflation, especially the inflation in the year 2007 (5%) and 2008 (which may be 10%)? Is the value in your IRA account, mutual fund, or individual stocks going down? If any of the above is the case, then you definitely need to do something about it. However, do not just put all your savings in cash as it’ll rust away with inflation. Start investing it into gold and silver today with 5 different methods.  

Buy gold and silver stocks. This is probably the easiest way to start investing in gold and silver. On the other hand, investing in stocks even though they have real gold and silver can be risky because the management can screw things up. Also, the mines are reflected in their market value, but no one can tell exactly how much gold and silver they have in their mines. Thus, it could be wrong and you’ll be screwed. However, it’s still a good investment against inflation and really easy to start. You just open a brokerage either with Zecco (zecco.com), MB Trading (mbtrading.com) & Success Trade (successtrade.com) for cheap brokerages, Tradeking, Scottrade, & So Go Trade (sogotrade.com) for decent brokerages or Vanguard (vanguard.com), Fidelity (fidelity.com), & Etrade (etrade.com) for the known & safe brokerages. Some of the best gold stocks are Barrick Gold Corp (ticker is ABX), Gold Corp (GG), and Yamana Gold (AUY). Some of the best silver stocks are Pan American Silver Corp. (PAAS), Silver Wheaton Corp. (SLW), and iShares Silver Trust (SLV), a silver ETF (exchange traded fund, which is similar to an index fund). I recommend this to advanced investors, and not beginners.

Buy gold and silver mutual funds. There are many gold and silver mutual funds to choose from. Vanguard has the best one right now (ticker is VGPMX), Fidelity has one too (FSAGX), and USAG is also great. Just open a brokerage at Vanguard or Fidelity to buy their gold and silver mutual funds. You can buy Vanguard and other mutual funds at Fidelity and buy Fidelity and other mutual funds at Vanguard, so don’t sweat which one to choose from. If you can’t decide, then open a brokerage at both places. Remember that buying mutual funds from Vanguard using Fidelity or from Fidelity using Vanguard will incur an extra fee. This is less risky than buying individual gold and silver stocks for average investors since it’s diversified and managed by professionals for you. I highly recommend this to beginning investors.

Buy gold and silver jewelry. This is also another easy way to invest in gold and silver. Just go find a local jewelry shop to buy the jewelry you like. This is a bad investment for people who want to sell later to make profits because of the high commissions and spread. Also, the jewelry shop might not even want to buy back your jewelry and it’s difficult to find someone who wants to buy it at a fair price. I would not recommend this option.

Buy gold and silver coins & bars. This is probably the safest investment on earth, but don’t put all your money into gold and silver. I would put anywhere from 10% to 25%. You can buy the gold and silver coins & bars at Kitco (kitco.com), US Mint (usmint.gov), Bullion Direct (bulliondirect.com), or Gold Money (goldmoney.com). I like Kitco the best. Other ways to buy gold and silver coins & bars are on eBay or your local jewelry shop where you can get the coins & bars near the spot price. Be careful of the spread, commissions, and shipping cost (if you buy online) as it can kill your returns. I recommend this to all investors.

Buy egold. This is where you buy gold and have the firm hold the gold for you in their vault. You must be careful when buying egold as there are many scammers out there. A couple websites you can do this at are: e-gold.com, evogates.com, and goldex.net. I would not recommend this option. 

Written by iamageniuster
My purpose is to create a positive impact in the world by being a role-model and provide education to others, specifically to teach people how to live

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Should You Buy Gold and Silver Coins to Protect Your Wealth?

September 12, 2011 By 6 Comments

Are you thinking of starting to invest in gold and silver investing? Lots of people start investing in gold and silver with coins.  Owning physical gold and silver is a great way to protect a portion of your wealth.

With the uncertainty that is surrounding the economy today and for the foreseeable future a great wealth protection idea would be to have a portion of your wealth invested in physical gold and silver. One way to start investing in physical gold and silver is to buy gold and silver coins.

There is a lot to know about coin collecting before you start. Numismatic is generally the word for used coin collecting but it is more than that. The origin is the Latin word “Numisma” which means coin. Numismatic includes collecting coins, medals, tokens and notaphily which is the collection of paper money and notes.

In the area of gold and silver coins the metals used to make the coin, the mint of origin, volume of mintage, quality of the coin, and the rarity of the coin all are factors in the value of the coin.  The higher the percentage gold and silver in the coin the more it will be worth. For example most silver dollars circulated in North America prior to 1965 were composed of 90% silver. Since 1965 the percentage of silver has been reduced dramatically. The exception being coins minted to be proofs or collectors items that have a mark or certificate from the mint stating a higher silver or gold composition.

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For the beginner another major factor is the place you purchase your coins.  You will want to buy your coins from a reputable dealer. You can buy coins directly from the Royal Canadian Mint in Canada and the Perth Mint in Australia and receive high quality coins delivered to you. You can choose to buy coins online from websites or the popular auction site EBAY. If you are buying online you may be taking a larger risk as you may not know who you are dealing with. Do your research on the company or individual before you buy. If a deal sounds too good to be true, it is. There are reputable companies on the web that provide good service and quality coins.

Governments around the world are increasing the amount of paper money they are printing which reduces the buying power of the paper dollars. If the economic crisis continues as it is or gets worse and becomes hyper inflationary then holding a potion of your wealth in gold and silver coins is a wise idea. Having high value gold and silver coins available to trade or spend will help you be financially secure for the future.

Mark Johnson is a life coach and consultant, who loves getting the most out of life and enjoys helping others to do the same. Mark is the founder of Your Wealth and Wisdom. Visit his website http://MoneyWealthWisdom.com

Welcome to Spare Changes buyer reviews. In this episode we discuss Mark’s buying experience from American Precious Metals Exchange (APMEX) and give you the review you need to see before you buy. You can visit APMEX at the website address below: www.apmex.com
Video Rating: 4 / 5

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Gold and silver coins collection basic

September 12, 2011 By 5 Comments

Look at the history of coins and you’ll notice two metals that have played a critical part in the development of money: gold and silver. These two metals formed the basis for most great civilizations’ systems of money. Greece, Rome, Egypt, Spain, England, the United States, and other countries all based their monetary systems on gold and silver at one time or another. When you hear of the great treasures of the world, you imagine piles of gold and silver, not piles of tin and copper. Why have people throughout the ages been so in love with gold and silver when there are plenty of other metals from which to choose?

Gold is popular because it is

Rare: Gold is one of those metals that has been recognized as being rare and desirable for over 6,000 years, but it isn’t so rare that it’s impossible to find.
A naturally occurring element: Gold is found in nature as flakes or nuggets on the surface of the Earth, in rivers, or in thin veins buried deep within the Earth. The purity of natural gold may vary from one location to the next, but it requires little processing to achieve a uniform quality. There is gold to be found on every continent of the world except Antarctica.
Malleable: Pure gold is soft and can be beaten into extremely thin sheets or pulled into long wires or strips. Because it’s so soft, gold takes good impressions from dies (the steel cylinders used to strike coins) and it won’t wear them out as fast as a harder metal may. Or it can be alloyed with other metals and made as hard as you want.
Reasonably inert: In nature or in normal use, gold won’t react with moisture, oxygen, or human skin, which means that jewelry and coins made of gold will last virtually forever.
Beautiful: Pure gold has a soft yellow color and a gorgeous sheen that has appealed to people’s visual senses since we lived in caves. Mix gold with silver or copper, and you’ll come up with an interesting range of color; the colors that come up most frequently on U.S. gold coins are pale reds, light greens, softer pinks, and white.

Many collectors prefer coins that are white and untarnished; other collectors will pay huge premiums for coins with natural, bright, rainbow-colored tarnish known to collectors as toning. Be aware that toning is not always natural and can — whether it’s natural or not — often hide flaws and defects that could dramatically lower the value of the coin.

Silver is popular because it is

Common: Vast quantities of silver have been found in various parts of the world, including the United States, Mexico, and South America. Because it is common, silver is the perfect metal for creating lower-value coins for use by the general public.
A naturally occurring element: Found deep within the Earth, silver is usually mixed with another great coinage metal — gold. Although native silver is perfectly good for casting into ingots and making into coins, most of it is processed to purify the silver and to separate out the more valuable gold.
Beautiful: Pure silver has a bright, white luster and a deep brilliance. As it tarnishes, silver can acquire some lovely colors, including blues, reds, and purples; this is especially true for coins that have been stored near a source of sulfur, such as paper albums.

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