Some news to file under "no surprise there" today; this is still a great time to buy precious metal coins.
Gold is staying strong in the mid nine hundreds range, and still climbing, silver remains around fourteen to fifteen dollars an ounce, platinum is still in the neighbourhood of twelve hundred dollars an ounce, while palladium stays around two hundred twenty dollars an ounce.
The shortage of 22 karat gold blanks at the US Mint continues, but they do plan to resume sales of the 2009 ultra high relief gold Eagles within a month or so. If you haven’t yet, you may want to take this shortage as an opportunity to begin investing in whatever metals you don’t already hold.
While most coin investors go straight for gold, they’re not the only investment grade coin available. When you buy precious metal coins in various metals, you simply provide yourself with more options, so when platinum has a particularly strong week, you’re free to sell a few platinum coins off while holding onto your gold and silver. Likewise, if silver experience a decline for a week, you can buy a few while watching your other metals continue to climb in value.
Of course, the other reason the Mint offers investors the opportunity to buy precious metal coins in silver, gold, platinum and palladium is to make the coins more accessible to investors in all income brackets. Buying a few dozen platinum one-ounce Eagles certainly takes a pretty penny, but you can buy a smaller palladium coin for under two hundred dollars, and some of the silver coins for less than the money you have in your pocket.
Couple this with the fact that, when you buy precious metal coins, you are pretty much giving yourself the very best financial security policy you can buy, and there’s simply no excuse for anyone not to stay safe throughout this recession and the next one.
Of course, alternately, you can simply buy precious metal coins in whatever size and metal you like. Investing in metals really is a low-stress investment option. You don’t have to read the spot prices ten times a day or keep your stockbroker on speed dial. All you need to do is buy as many coins as you’re comfortable buying, and then relax. Check the spot price now and then, buy some more when you feel it is prudent to do so, and sell a few now and then likewise.
Simply put, the option to buy precious metal coins is accessible, it’s convenient, and it’s safe. It’s no wonder it’s finally caught on in light of this recession, but it’s likewise unfortunate that it took a recession for us to see such boosts in investor demand.
In essence, that’s really all that needs to be said. With precious metal coins, you offer yourself peace of mind and a variety of options. This is true of so few investment opportunities during a recession, but it always seems to hold true when you buy precious metal coins.
Aug 24, 2009