I wouldn't buy physical gold or silver for anything beyond novelty. When was the last time you saw anyone purchase anything with gold---or silver for that matter. I do think investing in gold through an investment house is a good idea. Then you don't have to worry about the dealer's fee or the authenticity of what you are buying but you still get to ride the wave of increasing value. My goodness, no one can dispute that the gold has been a great investment over the past five or so years.
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You're a good poster and I trust your intelligence.
In the meantime, my metal holdings earned me a couple thousand dollars as I slept last night.
And the growth of my metal earnings have paid for many significant home improvements in the past year.
I believe that, when the "dollar" fails, people will learn how to use metals out of necessity. What other currency will there be?
A friend painted my house a couple months ago, and quoted me a price of $2500. It was such a low price, and he did such a good job, painting my entire exterior
with a brush, that I decided to give him an extra $500 over his quote. With the $500 he spent on paint and a few tools, that would have added up to $3500, which is where an ounce of gold was at that time. So I offered an ounce of gold. I mainly just wanted the experience of making a sizeable transaction in the specie our forefathers would have used.
He had never thought about getting metals, and carefully considered the offer, and turned it down, and since has been watching the price of gold, seeing that today he would have been $400 richer if he'd taken the gold.
He does a lot of work for me, and I think I'll offer to pay for a smaller job in metal, and I believe he will take the metal, now that he's had more experience with watching what the metals market does.
Several years ago, I saw a couple of videos about merchants who had learned how to transact their business in junk silver, which is by weight, rather than by face value, and I believe that our society could do that when the "dollar" fails.
Precious metals have been "money" for thousands of years and how many fiat currencies have failed in that time?
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