I made my first diversification into precious metal last week when I bought four Silver rounds for almost $56. The person that I talked too seemed very knowledgeable. Of course it may all be perspective because I’m still new to investing in precious metals. What he told me made a lot of sense. I went there with that idea of buying one to several 1/20 oz. Canadian Maple Leaf gold coins. When I found out that that buying 20 of those would cost me $100 more than just buying a 1 oz coin I decided to go with the silver. I found this to be very rewarding. As we all know everyone likes to spend money. Especially on something they enjoy. Buying coins is the best of both worlds. I get to spend my money on something that is valuable that I get to keep but really I’m not losing anything and in the long run I’ll be money ahead because precious metal historically have always beat inflation. After all our money was once based on a gold reserve.
Make sure to check back next week, I’ll be blogging about a good way to reduce you debt and first of next month I’ll be giving a update on my net worth.
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