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Your Guide to Gold and Silver Buying


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Gold and silver can be profitable investments. They are particularly favored during times of high inflation or when there is a fair amount of geopolitical turmoil. When things appear to be unraveling on the world stage and other asset types are declining, gold and silver can be good to own, because they are considered a safe haven and can rise in value.

What Does Gold and Silver Cost Today?

Gold and silver prices can be quite volatile. At the time of this writing, in early August 2022, gold is going for about $1775 per ounce, and silver fetches about $20 per ounce. 

More importantly, perhaps, is how the price of gold has varied over time. Over the last thirteen years, gold prices were as low as $938 per ounce in 2009, and climbed as high as $2018 per ounce in 2018. So we can see that we are nearer to the high end of the range today. The price of silver traces a similar pattern over the same time period.

What are the Best Ways To Invest in Gold and Silver?

There are numerous ways to invest in gold, silver, and other precious metals. One can buy gold or silver bullion, bullion coins, pre-1965 general circulation silver coins, pre-1934 general circulation gold coins, or invest in gold and silver mining companies. You can even put precious metals in your retirement accounts. 

How Does a Gold and Silver IRA Work?

With your retirement money, you can invest in gold stocks in a Roth or traditional IRA. If you prefer to own physical gold and silver, you can invest in gold and silver IRAs. Precious metals IRAs are specially designed for those who wish to own physical gold in their retirement accounts, whether it is bullion or bullion coins. Popular bullion coins include the American Eagle, the Canadian Maple Leaf, and the Austrian Philharmonic.

There are quite a few gold and silver IRA brokerage houses from which to choose. Some of the more well-known ones are Goldco, Birch Gold Group, Oxford Gold Grup, and Augusta Precious Metals. There are many more for you to look into. Each of these companies offers slightly different advantages, so your due diligence is a good idea.

Are Gold and Silver IRAs a Good Idea?

Should you invest your retirement money in a precious metals IRA? The answer to this question begins with your view on the value and purpose of owning precious metals. If you believe that they are a hedge against inflation and chaos in the world at large, as many have thought over the centuries, then having a portion of your IRA money in gold and silver IRAs may be a good idea. 

Remember that precious metals are but one asset class. Therefore, unless your crystal ball is infallible, then it is prudent to only put only a percentage of your retirement nest egg in gold and silver. The percentage you choose would be based on your views on the geopolitical situation, the FED’s monetary policy, and the outlook for inflation.

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