Precious Metals Advisory
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|Posted on February 5, 2020 at 5:45 PM||comments (3524)|
Given the uncertainty of our economy and financial underpinnings, there's never been a better time than now to own some Gold, Silver, Platinum or Palladium bullion. As a trusted advisor & provider of precious metals, I can give at least 4 compelling reasons to buy gold and silver bullion right now:
• Gold and silver are safe, real, tangible assets that you can use, spend or sell quickly if need be--and there's only a limited amount of the metals, thus ensuring their value.
• With raging government deficits, gold and silver will become more important in the global economy and grow in value. These relatively stable, valuable metals are viewed as hedges against inflation or devaluation by individuals, companies, universities, governments, bank, brokerage firms and insurance companies. They are also ideal for asset protection purposes.
• Governments, Banks, brokerage firms and insurance companies here and abroad own gold, silver and other precious metals--because these metals are proven winners. Even foreign governments--such as China, India, South Korea, South Africa and Germany--are quietly buying and safeguarding their gold and silver (because they know for certain their value will increase as paper currencies in debt-ridden countries like the U.S. and Europe continue to decline). Why shouldn't you?!
• Financial experts believe that you should own some precious metals. Having 10% to 25% of your assets in gold and silver just makes wise financial sense.
The best, most liquid forms of gold and silver to own are bullion coins, bars and rounds. You can also start or roll over some of your IRA funds into a Precious Metals IRA.
To buy and learn more about how to convert your cash/currency, old 401k or IRA into precious metals, call Precious Metals Advisory LLC at (904) 887-2986. www.PreciousMetalsAdvisory.net
|Posted on February 5, 2020 at 5:44 PM||comments (123)|
Why Most People Lose Money on Rare or Numismatic Coins
Simply put, most people who buy rare or numismatic ("graded") coins lose money. Statistics say 80% of people who own rare or numismatic ("graded") coins will lose money when they go to sell them because they are not educated enough and often buy based on "perceived value" as opposed to "real value." Yes, 80%.
Let me explain.
The reason why I chose to specialize in bullion coins, bars and rounds (domestic and foreign)---as opposed to rare or numismatic coins---is because you can know the price or real value of your bullion metal(s) at any given time based on the "spot" market price. The spot price is somewhat fluid because precious metals trade six days a week. With bullion, there's a pretty simple formula for determining what price you buy at and what price you might sell at (there's could be some variation depending on who you buy from and what the shipping & handling costs are--if S&H is involved).
With rare or numismatic coins, there's a lot more variation. You could pay hundreds or thousands more for a coin depending on who you buy from for all sorts of reasons (how much they bought it for, their overhead, what they think they can sell it for, how convincing they sound, and how savvy or gullible the buyer might be).
Naturally, they make more money off the ignorant buyer than the educated buyer so it shouldn't surprise you that they often target the ignorant buyer. You don't think so? Have you ever gotten one of those slick coin catalogs? Coins in there are routinely marked up from 25% to 400% or more (which is how they can afford to to print up and send out those fancy catalogs)!
Frankly, you only know the true value of a rare or numismatic coin when you go to sell it, hoping (and praying) that you can find a buyer who will pay you more than you originally paid for it. That's when you find out how dumb you were to buy it for such an inflated price. Don't beat yourself up over it; learn from the experience and do some more research next time.
Now you know why most people (80%) lose money on rare or numismatic coins. They're often purchased more for their "perceived value" than for their real value.
This is why we recommend bullion over rare coins for most people.
For more information on how to buy gold, silver and platinum bullion coins, bars and rounds (domestic and foreign) without overpaying for them, contact Precious Metals Advisory at (904) 887-2986.