Gold or Silver
Okay, so we had another party on our back deck. Friends were here from down in the Caribbean islands, and the desire to acquaint a bit more with some of our co-workers and spouses and freshly wedded kids that need a good meal on occasion, are all good enough reasons to build a party on a beautiful Sunday afternoon.
So the barbecue was uncovered, the P√©tanque boules rubbed shiny and the wine loaded in the rack. As always it turned out to be a great party with lots of lively discussions, companionship and good food. At one point we were talking shop when Lawrence, our sales manager, confided to me that some of the stories we put up on SearchAmelia are a bit technical and over the head of many of our readers. Case in point, he said, “Until yesterday’s article about Short Sales, I was kind of in the dark on the topic. Of course you hear it a lot these days and you think you know the essence of the term, but many of us (and that includes many of our friends) have no clue about the details”.
Now Lawrence is a college educated and street smart man, so if people like him don’t get the total picture of a story, we need to adjust ourselves a bit.
No, I’m not talking about “dumbing down” the topic, nobody is going to benefit from that. I’m talking about a more detailed step-by-step approach on topics that have educational aspirations. Too often we forget when writing that the reader may not have the tools to relate and get the benefit from it.
How do I buy Gold or Silver?
So here was my perfect chance to ask, “What other topics are you not completely clear on?”
“How to buy gold and silver,” was his immediate answer.
“The Market Man and you have been publishing story upon story on the need for us to own gold and silver in preparation of the downfall of the US dollar. You have convinced me that it would be a good thing to own, gold and silver, but I have two major questions:
1. I don’t have thousands of dollars to pour into gold or silver. With a limited amount of money, how should I start?
and…
2. Where can I buy gold and silver?”
Collecting my thoughts for a minute, I realized that his questions involved a “way of thinking” that most people are not accustomed to. Credit has ruled for three decades and having a savings account has not been part of many people’s thought process. Banks in Europe sell you gold and silver coins as savings commodities. Nowadays there are even gold and silver dispensing (vending) machines in airports, bank lobbies and shopping malls. Having grown up with this retail approach to buying gold and silver, collecting coins for me was a form of SAVING, equal to having a savings account.
Well, having a normal savings account at a bank went out the window when the Feds turn the interest rates to 0-0.25% which means for us that we lose money every year for every dollar we save. Simple mathematics; we receive 1% interest on the account balance and we lose 3% to inflation. With the inflation that is on the dollar’s horizon because of the government’s bailout and stimulus plans, this will reach a conservatively estimated 20% per year. (For those who were around, remember the early 1980’s).
Back to Lawrence’s dilemma, I learned that he wondered about how much money it would take and where could he order gold or silver. Here is the simple clearcut¬† answer:
1. A silver coin today cost less than $20, so if you can save $25 a week, buy a silver coin per week*. That coin is estimated to sell in 18-24 months from now at around $170! If you can buy 4 coins a month your profit taking if you needed or wanted to, becomes substantial. For every $100 saved in silver you would look almost $700 in cash; more than enough to stave off inflation and than some.
If you’re more into gold you can start with a 1 gram Chipgold for under $40. A Golden Eagle coin would cost you some $1,140 today versus only $760 several months ago.
2. Here is the best place we know where you can buy gold, silver, platinum, palladium in coin and bullion: Kitco Minerals and Metals
USA
64 Lake Street, Suite 101
Rouses Point, NY 12979
Toll 1-877-775-4826
CANADA
620 Cathcart,Suite 900
Montreal,Quebec H3B 1M1
Toll Free:1-800-363-7053
Fax:(514) 875-6484
- Kitco Online Order Form
You can order your coins or bullion right online after you open an account. This is super easy and it takes less than one minute.
* Now… because of shipping costs, you may want to order only once a month. The $30 shipping fee is for one coin or 100 coins. Consequently, your single coin order is going to cost you, including shipping and insurance, almost $51 while an order of 100 coins will amount to about $20.78 per coin. If you can swing it as savings per month, 30 coins would give the best average.
So here you have it. If you want a tip how to get started, every night empty your wallet and pockets of all your change and one dollar bills. Put the change in a jar and empty it exactly four weeks later to buy silver coins. You’ll be amazed how it adds up. Soon you will see your silver savings account explode as a result of inflation and a weakening dollar.
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