1) Why invest in gold and silver?
Gold, silver, and other precious metals have endured for years as a form of investment. This is because they hold their value and are tangible assets. Gold and silver especially are sought after for many industrial purposes as well as investment. This gives them an ongoing tradable value.
2) What is the best way to invest in gold and silver?
Undoubtedly, the best way is via an IRA or 401(k) rollover. This is because the government give you a tax break to invest in these metals – which is like having extra funds to put in. There are many gold companies around – and it is a very competitive market – so prices are always keen. Gold and silver can be bought “over-the-counter.”
3) Who can buy gold and silver?
There is no legal age requirement to buy precious metals. Anyone, from any walk of life, can by precious metals. Investing them in an IRA or 401(k) rollover is reserved for those who are employed or self employed – this option is not available to the unemployed. Precious metals which are not part of an IRA can be bought and sold freely on the open market.
4) Where can I buy gold and silver?
You can buy from gold companies, gold brokers, wholesalers, jewellers – even directly from mines. The gold and silver can be bought with cash, credit cards or a check, like any other commodity. There is no limit to the amount of gold or silver that you can buy. It is entirely up to you how you store your metals – at home in a safe, buried in the garden, in a vault, a gold bullion depository – the choice is entirely yours.
5) When is the best time to buy gold and silver?
Anytime is a good time due to the inflation proofing qualities of the metals. In an ideal situation, buying when the gold or silver is at low price – and selling when it is at a high price would be perfect. Always buy from a reputable dealer – and make sure that the gold is properly assayed. Check everything.
6) How do I sell my gold and silver?
Ideally, when you buy the gold and silver initially the person selling it will have a buyback policy in place. If not, any gold broker or dealer will give you a price for your metals. Prices are published on many websites. The gold and silver prices are shown every minute of every day – so it is easy to calculate what your meta is worth at any time.
7) Can I pass my gold and silver onto my children?
One of the major reasons for investing in any precious metals is the privacy involved. It is one way of being able to pass on large amounts of money, privately, very easily. There is no law compelling anybody to declare their precious metals holdings. It may be wise to consult a legal adviser before writing a will, or making anything official, that can be traced.
8) I have heard that the government can confiscate gold and silver – is this true?
In theory, the government can legislate what they want. Although there is no current statute on the books, preventing the ownership of gold or silver, it can never be ruled out. How will they know that you have precious metals? Precious metals are easily transportable, can be secreted and hidden, and are not easily detected.
9) Where can I find a good precious metals company to buy my gold and silver?
There are many ways. You can look online – and then see review sites like Trustpilot, Better Business Bureau, Trustlink, or other ratings sites to check the company out. Recommendation from friends is always a good way. Looking through the financial press and blog articles for the writers of authoritative pieces is also a good way.
10) What is the long-term outlook for gold and silver?
The world has never been so dangerous or uncertain as it is at the moment. The markets do not like uncertainty – and are getting top-heavy. In the event that they should fall – gold and silver would rise in price. Nobody knows how quickly this will happen – but history says that it will.