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Wednesday, December 15, 2010

'Why Gold and Silver?' Investing 101 (DVD / VIDEO)


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Why You Should Own Gold and Silver
First off, why should you own precious metals?  Read this:

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”


Who do you think this was written by?  If you guessed former Fed Chief Alan Greenspan, you would be correct.  It is titled “Gold and Economic Freedom,” and it was originally published in 1966.  (Click here to read the entire Greenspan article.) After reading this, it is hard to believe he was the Chairman of the Federal Reserve for nearly 20 years.  Gold is the antithesis of the Federal Reserve Note.
Greenspan’s article is the time tested reason for owning gold.  For more current reasons, look no further than “The Seven “Ds” of the Developing Disaster,” written by gold expert Alf Field.  In short:
  • Deficits
  • Dollar
  • Devaluations
  • Debt
  • Demographics
  • Derivatives (this is the big one)
  • Devolution
The above are the reasons why Field says gold and silver are bound to rise over the long term.  (Click here to read the complete article from Field.)




Video Explanation for How and Why to Buy Gold and Silver (BELOW)
For a video explanation for how and why to buy precious metals, we turn to Mike Maloney.  He’s a best selling author who wrote a book titled “Why Gold and Silver?”  His videos give the simplest and clearest explanation I’ve ever seen.

How To Buy Gold and Silver
Now that you know the “why,” let’s get into the “how” of buying gold.  First of all, gold and silver are sold by the “Troy” ounce.  A “Troy” ounce weighs more than the ounce used to measure milk or meat.  A Troy ounce is 31.1 grams, which is more than the 28.35 gram ounces you come across in everyday life.  By the way, because a Troy ounce weighs more than a regular ounce, it only takes 12 Troy ounces to make a pound.  However, you buy precious metals by the ounce not the pound.

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These 4 Gold, 1 ounce coins are the most popular and most recognized in the world.






There are other fine gold coins that are minted throughout the world. For example in Australia, China, Mexico and Europe. They are simply less popular, but are very much still valuable
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The 3 most popular and recognized silver 1 ounce coins in the world are the:
  • U.S. Silver Eagle
  • Canadian Silver Maple Leaf
  • Silver Austrian Philharmonic.



Junk Silver
Then, there is “Junk” silver.  “Junk” silver is any U.S. dime, quarter or half-dollar minted on or before 1964.   1964 and earlier  dimes, quarters and half-dollars had 90% silver content.  “Junk” is sold by face value of the coin.
The most popular way to buy “Junk” silver is a 55 pound bag.  A 55 pound bag is $1,000 in face value of the coins, but that also equals 715 ounces of silver.  So, for example, a bag of dimes may have a face value of $1,000, but you pay the same as you would if you paid for 715 ounces of silver.  You always pay the spot price of silver plus a commission.  The advantage of buying “Junk” silver is you pay less commission per ounce than a 1 ounce silver coin, but you still
have coins.  It is the cheapest way to buy quality silver coins officially minted by the government.
You can also buy “Junk” silver in much smaller increments.  Just remember that $1.50 in change equals about an ounce.  So, 15 dimes of “Junk” silver is an ounce and so on.  This way, you can always figure out how much you are paying per ounce when you buy “Junk” silver.  The most desirable “Junk” from best to least are half- dollars, quarters and dimes.  There are a few later years of coins after 1964 that had 40% silver, but those are extremely bulky and are the least desirable “Junk” silver coins.


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