Since the beginning of recorded history, precious metals, specifically gold and silver, have been acknowledged as valuable currency worthy of bartering with and investing. If you fast forward to present day, this opinion still holds true; many good investors will have a portfolio with at least 10 percent containing precious metals. With the advent of the internet, buying precious metals has become possible from the comfort of your own home. There are a lot of ways and places to buy precious metals online, so let’s delve deeper into this potentially profitable endeavor.
Buying Precious Metals Online: Why Do It?
People typically get involved in purchasing gold and silver to either invest, hedge against inflation or use for modern day bartering in the event of an economic collapse. For as long as we can remember, it has always been revered as a viable form of global currency. In addition, you can actually take possession of your precious metals investment, allowing you to store it in the safety and security of your own home.
How to Buy Precious Metals
Figuring out where to buy precious metals by narrowing down the best places for them, as well as and keeping them safe is a chore no matter what your three reasons are. Buying from trusted markets online seems to be the way to go these days because no matter what service you go through, with the exception of eBay, most places will assign you an advisor or an account representative. This can pay huge dividends, especially for the novice investor.
The Best Place to Buy Precious Metals Like Gold and Silver
High quality bullion can be obtained from many sources. One such source is Gold and silver Exchange Traded Funds, also known as ETFs. However, the ETFs are not a good option if you want to be able to hold the bars, coins or ingots physically. There is a school of thought that holding them physically, in a safe or a safety deposit box would be the safest and most stress-free route to go. You could also invest in mining stocks, however, this takes a lot of homework to do. Finally, you can use Sigo Co. Our team has years of experience working with precious metals and have incredible depth of knowledge.
My Personal Experience
I inherited a large house, and I sold it. I took a good portion of my funds and decided to invest it in silver and gold. This was 2007, and I was 25. I found a precious metal brokerage firm with a reputable history. Then, I was given an experienced advisor who was knowledgeable and trustworthy, which I was eternally grateful for. I wasn’t an experienced investor myself, and did not physically have the metals I purchased, so a lot was riding on the quality of the brokerage firm.
I learned a good rule of thumb too. The less you have to invest, the more you want to dump into silver. It was so long ago so I cannot tell you exactly how much silver I purchased, but I do remember purchasing 60 one ounce gold coins from an Austrian mint celebrating its 800th birthday. Since then, I have made quite a bit of money, and everyone told me I was stupid for spending all of that money on metal I would never see. Now, they have no clue how much I have made, and I was a small time investor, a kid.
Nowadays, I see and collect precious metals regularly. I do not see all of what I own, but since I trust my advisor, I have no problem buying bullion bars of silver and one ounce gold eagles all the time. Someday, it will be a huge chunk of my retirement, and the dividends have opened new doors for me as well. If you are wondering whether or not to diversify your portfolio with precious metals, I have strongly encourage doing so.
Precious metals is ideal for investing depending on certain circumstances, but it is also important to keep in mind they can be volatile investments like anything else. After all, there is no such thing as a sure thing. With this in mind, precious metals can still be a fabulous investment under the right conditions.