A common question for people who have yet to invest in gold or silver is whether or not they can afford the precious metals. In short, the answer is that almost anyone can afford to invest in silver, and many people can afford to invest in gold. It’s perfectly fine to start small and invest only what your budget allows. Silver coins can be purchased on our site for under $30 with a $100 minimum order. Gold is currently priced at about $1,600 an ounce, while silver is just under $30 an ounce (as of April 1, 2013). Gold is significantly more expensive, but gold coins can be found on our site for under $200 for 1/10 oz.
Investing in gold and silver is more than just a hobby or financial trend. People have invested in gold and silver for centuries. The metals make an excellent portfolio diversifier. Moreover, gold and silver are both true money, or as the Constitution puts it, “lawful money.” Paper money that we use every day is not true money; it has value because the government says it does, and is printed by the government, which can essentially print as much as it wants.
Economies based on paper currency almost always are affected by inflation, and the decreasing value of the currency in the global economy. However, gold and silver are immune to inflation, and retain their respected values, regardless of whether the paper currency declines.
Gold and silver are also expected to continue growing in value, as they have consistently from a long term perspective for centuries. Some analysts predict that gold will quadruple in value in the next 10 years, and silver will see significant gains as well, so it makes sense to invest in the metals (and in your future) now, especially since prices for both metals are hovering at a low point.
Saving for retirement or the future is a smart thing to do. Perhaps you have a 401(k) account, IRA, or some other investment plan. However, even these types of investment strategies are not as secure as investing in gold and silver. Stock market crashes can quickly deplete your retirement savings accounts. We are not suggesting that you stop contributing to those accounts; your financial decisions are yours to make. However, diversifying your investment portfolio with physical gold and silver is highly recommended by many financial experts.
In all honesty, the question is not “can I afford to invest in gold and silver,” but rather, “can I afford not to invest in gold and silver.”