Yeah, pretty much. But most people won’t do it. They will read what I just wrote and think that it HAS to be more complicated. They will want to do tons of research, talk with thousands of experts, get the input of those closest to them (those who have never, ever done any type of investing on their own, lol), etc, etc.
They (you) could just buy some precious metals right now.
Ok, ok….I guess there might be one or two more steps IF you want to feel better about putting your money into precious metals, but basically, that is what you do.
So still wanting to know “how to invest in precious metals?”
Well, first off you need to purchase them from a dealer, and you can do that online or offline.
Online avenues are nice and convenient, and some offer pretty damn good rates. I personally have used GoldMoney.com and GoldSilver.com in the past with great results. GoldSilver is a little more pricey, but you are paying for some educational material there as well. GoldMoney offers you better rates, and it gives you some more flexibility in regards to where and how (specifically other currencies) you can take and/or make payment for your precious metals.
So this is my preferred how to invest in precious metals method…aka, online purchasing.
The other route is via a “mom and pop” precious metals dealer in your local area. It is just like it sounds. There are stores that deal in actual physical metals. You walk in with money, place your order, and then eventually (or sometimes even that day) walk out with your metals in hand. You can Google “precious metals dealers” in your local area, and you will find many around your house that you never knew existed. But be careful though….sometimes very desperate individuals may be on the lookout for a quick grab as you walk out of the store with a ton of gold or silver in hand.
As you may gather from my brief words so far, I’m a BIG believer in actually owning the physical metal of gold or silver.
In regards as to how to invest in precious metals…I do NOT suggest owning gold and silver stock!
There has been tons of evidence (and some of the biggest financial companies even admitting) that they do not hold an exact 1:1 ratio for paper stock issued to the actual metal that is supposed to exist to back it.
Therefore, just don’t even risk it. Just buy the physical metal, have it hand, and call it a day.
I have only started to scratch the surface here guys, and I will be posting more on this issue, especially as it is starting to heat up with the next announcement of QE3. But the take home for anyone visiting this post is that I HIGHLY suggest owning physical gold and silver.
Until next time…
Dr. Timothy Lawler
P.S. If you want to know another avenue in how to invest in precious metals, and one that many, many wealthy people use, then you have to check this out now!