Business
Why Gold Is The Standard
It's been said that the only thing constant in life is change.
Make that change…and gold. You see, the yellow metal remains the ultimate safe haven for your wealth.
It has the capability of protecting you from all the major forces of wealth destruction.
In the book, ABCs of Gold Investing, Michael J. Kosares asserted, “No matter what happens in this country, with the dollar, with the stock and bond markets, the gold owner will find a friend in the yellow metal — something to rely upon when the chips are down. In gold, investors will find a vehicle to protect their wealth. Gold is bedrock.”
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Here are the top three reasons why gold — particularly, in the form of gold coins — is easily your fail-safe investment:
- Gold is better than money.
Stocks, bonds, and money are arguably just representations of value. In his Forbes article, “The Gold Standard for skeptics,” Keith Weiner explained, “The dollar may circulate, but it’s not money. It’s just a small slice of the government’s debt. It’s an I.O.U., a promise to pay, though most have long forgotten what the government once paid — gold.”
He added, “Gold is, by far, the best measure of value.
Nothing else comes close, certainly not the dollar.
If you defend the dollar simply because you live in America, imagine the debate in Argentina.
No one there defends the peso as a better unit of measure than gold.”
Keep in mind that regulators and banks can cite all sorts of political, commercial, or bureaucratic reasons to confiscate your stocks, bonds, your cash, and even your properties if you can't meet your mortgage payments.
If you own actual gold coins or gold bullion, you are the only one who has direct access to them.
No matter where you go, gold will always have value.
- Gold is portable.
The yellow metal is, perhaps, the only big ticket asset that you can more or less easily take with you wherever you go.
Assets such as real estate or even certain artifacts are not easily transported.
You won't have this problem with gold coins, as you can easily carry $20,000 worth in your pockets or $1 million worth in a bag.
- Gold is private.
Unlike other assets that are required to have public records, you can be as discreet as possible with your gold coins.
Nobody else has to know about how many coins you have.
This way, you are also protected from scam artists who may want to steal your assets.
If you're thinking of investing in gold coins, Constance Gustke advised in a Bankrate.com feature: “Stick with North American coins. The Canadian Maple Leaf and American Eagle gold bullion coins are the easiest to buy and sell. Outside the U.S., the 24-karat Maple Leaf rules; inside, the 22-karat Eagle.”
In the same Bankrate.com feature, Paul Mladjenovic, author of Precious Metals Investing For Dummies, also pointed out that “rare coins must be avoided” as they are difficult to sell.
He also explained: “American Eagle coins are issued in four denominations: once-ounce, half-ounce, one-quarter ounce, and one-tenth ounce.
But the fractional coins carry higher premiums above spot prices than the one-ounce versions. So, it's best to stick with one-ounce coins.”
Of course, it goes without saying that one must perform due diligence before buying gold coins.
Make sure you are buying from a legitimate source.
After all, as another saying points out, not everything that glitters is gold.
