A Guide to Owning Bullion & Coins | The Gold Standard 2240

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Gold and silver are available in coins, rounds, and bullion bars. Choosing between the various bullion bar and coin options can be overwhelming. Dave Deno and Ken Russo introduce listeners to the wide variety of available bullion bars and coins.

The Guide to Owning Bullion & Coins is a primer for those looking to transfer some of their paper wealth into tangible precious metal assets. This episode of The Gold Standard will help you simplify your choices and make finding suitable bullion bars or coins for your portfolio less complicated.

Gold bars are commonly referred to as bullion and are the most popular choice of investors. They’re usually offered in a gram or an ounce. The purity of the metal content, the manufacturer, and the weight are typically stamped on the face of the bar. Bars have a lower premium than bullion coins because there are fewer steps in making them. Companies, not governments, create bars.

Gold coins are legal tender and minted by sovereign government mints. Gold coins cost more than bars because more work goes into the production and refinement of the end-product. Proof coins have an even higher premium because more care and attention go into creating the mirror-like finish of the proof coin’s surface.

There are no laws requiring purchasers of gold to report their transactions. According to federal tax laws, precious metals dealers must report sales of precious metals by their clients. Dealers are also required to report cash payments they receive for a single transaction of $10,000 or more. Otherwise, no government official keeps track of how much gold you have or what you do with it.

Gold is a constant unit of measurement. People often say gold’s price went up or down, but it’s only a frame of reference. Gold remains constant. It’s the currency that fluctuates. Gold is wealth preservation. Between our currency and gold, gold is real money. Gold is a safe-haven asset that will protect your wealth when the financial system collapses or another catastrophic event. Gold is a crisis asset that will overcome price manipulations in the long run. History demonstrates how manipulations can last long, but they always fail.

Deal with a precious metals specialist with a reputation you can trust. Make sure you’re dealing with a reputable source that will help your purchase’s value grow. A good precious metals consultant can help you find the best way to build a customized portfolio for your individual needs. Physical gold requires secure storage. You can keep your gold at home or use a custodian—research secure options for storing gold before you buy significant quantities of it.

Dave and Ken take a moment to discuss the many qualities that make silver such a great way to store wealth. The precious metal has many characteristics that make it a necessary component of the technology we use today and shortly. There will be increasing demand for silver. We’re already seeing a shortage of silver production. Demand for industrial metal will continue to rise, and supplies will likely dwindle.

Silver is much more than poor man’s gold. Strong arguments can be made that silver is the most undervalued hard asset, with the highest potential for price appreciation. While it’s true that it takes 68 ounces of silver to buy one ounce of gold, silver is a core strategic metal with a growing number of industrial uses.

This episode introduces us to Ken Russo’s favorite bullion coin, the Gold American Eagle. American Gold Eagles were first created in 1986 so Americans could buy an American product if they wanted to own and invest in gold. The government also started its Silver Eagle program the same year. National pride played a significant role in passing the legislation that created the coin, and patriotism heavily informed its design. The Federal Gold Bullion Coin program was the perfect opportunity to resurrect Augustus Saint-Gaudens classic lady liberty design used on the US $20 Gold piece from 1907 until 1933. Saint-Gaudens’ celebrated Double Eagle ($20) is considered by many to be America’s most beautiful coin ever produced. The reverse displays a new design showing a family of eagles.
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