The Foolproof Investing in Valuable Metals Strategy
Humans have developed very fragile and interconnected financial systems to meet these needs. This system relies on precise timing and the continual expansion of financial credit and liquidity. However, once this system reaches a breaking point and collapses, then so will the benefits we have grown accustomed to in our normal lives. This is where alternative money comes into play, and we make gold price predictions using the latest gold and silver news.
Investing in precious metals has been used by societies for six thousand years, dating all the way back to Mesopotamia. Gold and silver have been money for the bulk of human civilization for the following main reasons: • they are nearly indestructible • they are attractive and also symbolic of wealth • they are fungible which means they can be divided into smaller units • they are rare and cannot be cheaply reproduced • they can be used for other real purposes beyond money Other uses include jewelry, mirrors, electronics, and medicine. Silver, in particular, is used more today for industrial purposes than it is as money. The industrial demand for silver has caused it to become very precious and rare. Gold as an investment is used more than silver.
To understand how we might use precious metals as money in the future, we should first take a look back at the past. In the US, silver was the first ‘dollar’ as declared in the Coinage Act of 1792. Gold was established in the Constitution as money as well. Gold pros know that regular gold and silver coins and bars are made by independent, private mints or large distributors. The most recognizable names include Englehard, Sunshine, Johnson Mathey, Pamp Suisse, RCM, Scottsdale, Valcambi, and APMEX among others. As long as the round or bar is not totally generic, it should be fairly useful as currency in the future.
If you feel safer with government minted silver coins, I suggest the Canadian Maple Leaf. The design is simple and gorgeous, and the coins gives off a really attractive luster. The American Silver Eagle may be the most recognized in the States, however. Other notable government silver coins are the Austrian Philharmonic, Mexican Libertads, Great Britain Britannia, and South African Krugerrand.