It's EASY to start investing in Gold and Silver - Have you started collecting?Submitted by adam1mc on Wed, 01/30/2008 - 18:30
There is lots of talk here at the DailyPaul about Gold and Silver. There is currently an active forum topic about the need to start buying gold as it may go up after the WSJ ad appears.
Despite all this, there are still many who have yet to invest in either gold or silver. Some of this is due to the fact that people don't know just how easy it is to start investing, while others have yet to learn the value of collecting Gold and Silver. You don't need to have lots of money or accounts with expensive brokerages to start investing and if you don't yet know the value of collecting gold and silver then I would recommend viewing the 1 year silver chart from monex.com:
Gold and Silver are liquid all over the world. It doesn't matter if you are in Anytown America or Bukhara Uzbekistan, you can still use any gold or silver (or Platnium / Palladium) as cash. Currently the value of Gold and Silver is going up while the value of the Federal Reserve notes are going down. For those who have hard times saving money in savings accounts (me) this is also a fun and exciting way to save money.
So just how easy is it? Simple.
Most towns across America have coin shops (we have about 5). Typically these coin shops sell bullion. Typically, bullion prices are anywhere from the $20 - $160 range for silver and $100 - $1000 range for Gold. While most of us don't have $1000 to drop, I think the majority will be able to occasionally plunk down $20 or $40 dollars. Personally, I try to spend between $50 and $100 per payday. That rate doesn't yield very much but it does add up quickly.
So the easiest thing to do is visit your local coin shop and talk to the person behind the counter. Purchase what you can afford and go home and throw the coins in a small safe or at the least a safe place. You may need to worry about more secure places to store your gold and silver later on but for now I'd say in most cases that's not necessary.
If there aren't any coin shops in your town or you don't have access to visit, then there are a multitude of places to purchase online. Some places require that you spend a minimum but others do not. One place specifically that sells small amounts of gold and doesn't have minimums is:
You can buy gold anywhere from 1gram all the way up to 1000oz bars from that site. FYI, 1gram bars are only $41.94.
If you don't want to go that route, then there is always e-bay. I've found that once the shipping prices are included the purchase prices are typically just over the going rate but if you are willing to pay for this convenience then there is plenty to look through. Ebay even has very unique and inexpensive ways to start investing in Gold. Check out this 1 grain (use Google to learn how much a grain weighs) gold bar that will sell for roughly $5.00. Who can't afford that?
So why haven't you started investing in Gold and Silver yet? It's easy and fun, not to mention a great way to save money.
Ebay Listings for Silver
Ebay Listings for 1/10oz Gold ($100 range)
Ebay Listings for cheap, raw Palladium