ClowersLollis70
Gold and silver coins would be the primary way to maintain stocks of recognizable assets that you will be able to utilize in the future if for whatever reason or situation arises in which you won't be able to make use of the printed money from your country to purchase food or offer your loved ones.
The price of both silver and gold are relative to the international exchange rate of the local currency towards the U.S. Dollar or the Euro, but that's irrelevant within the bigger picture of things whenever you consider the buying power of the paper money today as well as in the near future.
If tips over that causes the local paper money to not be accepted by local vendors for daily purchases, you will want to possess some kind of higher quality and a "more in demand" kind of valuable in your possession to purchase the meals and water you'll need until the government gets back on track which might take a few months to a year or two.
If you reside inside a country that isn't primarily English speaking, you most likely are not reading this at this time, but when you are, the very best types of gold and silver coins to stock up on are the ones that individuals out of your area will recognize for their international quality and value.
The U.S. Double Eagle and the Canadian Maple Leaf are extremely recognizable, but the South African Kruger Rand is the standard with regards to gold coinage for that specific reason for quality and weight.
Almost all of the coins which are produced by government mints are exactly 1 ounce and 90% pure. Traditionally a mint will convert the gold you seek out from the ground into a coin or bar, but they have always charged a 10% fee that is realized in the form of the purity from the final product you obtain. The governments and mints try to tell you just how they add nickel and copper to create the coin stronger so it will withstand the damage and tear of daily use, but that's a lot of bull because I do not know of any place today I can spend gold.
If I walk into a Chevy dealership will I have the ability to convert 20 gold one ounce Double Eagle coins into a new Corvette? Definitely not; they will send me right down to some dealer that will buy my gold coins and then I have to have a sack of money back to the dealer.
Let's say things get a bit bad socially or economically and that i want that same Corvette and my paper cash is worthless? Or at least worthless towards the person I want to buy a product from. Then I must have a type of commodity that has a value above and beyond the value of the worthless paper.
Case an example, but for 3 to 4 generations the American society has been taught in order to save their cash, their paper and copper clad coins. These have no true or real value. This kind of currency is worth under casino chips plus they cost about Four times more to produce. Yet our kids are banking them and hording them like they'll be their salvation at some stage in the future.
I personally don't even think the banking system will collapse as bad because the dooms day people say, however i do think there will be a time when silver and gold is a great investment for security and safety.
What, that point has become. Within the mid 90's I was buying silver coins as stock silver from coin dealers. These were in bank bags and weighed 52 pounds per bag. When silver hit over $40 per ounce, I wasn't disappointed at all.
Simultaneously gold was high at $285 per ounce and so i am not too upset that I bought Double Eagles and Kruger Rands through the pound also.
Even though the relative price of gold and silver appears like it's very high today, the truth is that the value of both metals is mainly relative to the buying power of your local currency. If the cost of gold appears like it's up, that only means the need for you paper is down and the cost of a loaf of bread or a gallon (or liter) of mil is up also and in all likelihood exactly proportional towards the cost of gold.
The need for precious and industrial metals is really constant on the long time and they are the best way to preserve and protect your buying power when you do not know or possess a concern about the need for the paper you are holding.
For this reason countries and governments mint gold and silver coins to begin with. The need for their paper money is only as good as the way people feel about their cash. Not the particular value, the way in which people feel about the worthiness.
