There are plenty of good reasons to add precious metals to your investment portfolio. Here are just a few of the more common reasons precious metal investing is on the rise in the 21st century.
- Protection against Economic Collapse
- High-Value, Small Size
- Diversification of Investment Portfolio
- Gold and Silver Have Industrial Uses
- You Can Get Started with Very Little Money
The Top Precious Metals for Investing
- Gold – Roughly half of all gold mined these days shows up in jewelry. This is one of the principal drivers of the value of gold. About 10% is used for industrial reasons, and a full 40% of the gold in the world today is used for investing.
- Silver – While the most common use of gold is in jewelry, and silver does find its way to the jeweler’s bench, the vast majority of silver is used for industrial purposes. Silver also conducts heat very well. Because of those two properties, silver is used extensively in electronics and in solar energy applications.
- Platinum – Platinum is extremely resistant to corrosion, and this quality makes it viable for multiple industrial uses. You will find platinum in a wide variety of electrical devices, and as an investment vehicle, platinum bullion is available in ingots, bars and coins, just like gold and silver.
- Palladium – If you haven’t heard of palladium, that is probably because this is one of the rarest of all precious metals. Its uses are largely industrial, focusing mostly on the electronics industry as a whole, specifically for the manufacture of capacitors that store hydrogen and electrical energy.
Bullion, Coins and Bars
These are the physical forms precious metals take. Some gold coins become extremely rare over- time, and supply and demand drives their prices up because of the gold content in the coin, as well as the rarity of the coin itself. The most common physical form of precious metals is bullion. An industry definition of bullion is “a refined and stamped weight of precious metal.” Bullion is generally offered in bars or ingots, and sometimes in a round form that resembles a coin
A Term that applies to a collectors coin that is usually graded by a 3rd party.
Top 10 Tips for Investing in Precious Metals
- Set aside no more than 10% to 15% of your entire investment portfolio capital for investing in precious metals.
- Owning a little of several different types of precious metals is a smart diversification practice
- Consider starting with a small purchase if you are new to investing in precious metals. This will keep your nerves calm and your wallet full while you are getting your feet wet.
- It is a good idea to make a purchase through an online dealer as well as a local dealer in your area. You can see which experience works the best for you, since both online and brick-and-mortar precious metal investing have pros and cons.
- Steer clear from investing in junk metal. The prices on these metals can be very attractive compared to metals with .999 fine purity. However, they are called junk metals for a reason.
- You may find vastly different prices for the same coin, round, bar or ingot, depending on where you shop. This is why it pays to contact several dealers before you make a purchase. Also note the price they charge for shipping.
- You can keep your investment safe by storing your precious metals in a depository or safety deposit box. High levels of security in return for a small monthly fee make sense, especially if you accrue a sizable investment.
- You should constantly monitor spot prices, so you can ensure you get the best price on a purchase.
- You don’t have to be wealthy to invest in precious metals. From 2015 to 2020, a single Troy ounce of fine silver showed a spot price range of just $13 to $30.
- Understand your reason for buying precious metals before you spend any money. If you don’t have a clear plan for your capital, you won’t know what to expect from your investments
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