When it comes to investing in precious metals, people always question about which metal is best kept in which form. It’s time to end this question once and forever. Read below to learn which one is best for your money.
When it comes to the most expensive precious metal, one must ask themselves if they own enough wealth to convert it into gold in the first place. The current price of it is around $1.450 per troy ounce and there’s no sign of slowing the trend from going up. That means regular bullion will cost you around $1.500.
If you have $500.000 to invest, then you’ll need to buy around 330 of these pretty looking coins. Knowing that they regularly come in special covers, imagine the space you’ll need to keep them.
On the other side, an ingot of it cost around $45.000. You’ll get just over 10 pieces that can be stored in your safe at home or in the bank.
One of the best ways to spend a lot of money on gold is buying old, rare, and expensive coins. For example, in 2002 the 1933-Saint-Gaudens Double Eagle was sold for a staggering price of over $7 million. This is not the only example in the world. There are other more affordable and many other even more pricy than this one that’s simply not on the market.
All this means that if you have a lot of money that you need to be invested, you can buy old gold coins that have much more than the value of the metal. They are a collectible trophy and their price will always be higher with time.
The silver’s price is around 100 times more affordable than the one of the gold. The current price is $16 per ounce which means that if we make the same comparison we did previously, according to current silver bullion prices you’ll get around 31.250 of them for half a million US dollars. Doing this is only logical if you’re trying to play a pirate with your life and burry bags of fortune on several deserted islands. Just be careful, by the year 2050 the global warming will make millions of islands all around the world disappear from the map of the Earth.
If you’re not an owner of such a big amount of money, then a silver ingot is a great idea. This metal is also not very likely to have major price fluctuations and it is best for people who like to invest in something safe. For example, having a few thousand dollars that you don’t like having on your account because chances are big that you’ll spend them on things you don’t need – best invest them in silver.
Platinum is a relatively new currency in the world of precious metals. Compared to the first two it is around for only around 200 years. The first platinum coin was produced by the British in 1820, but it was soon abandoned and no one minted this metal until 1977 when the Soviets made some for the needs of the 1980 summer Olympics.
Today’s price of it is around $860 per ounce. However, finding 1820 platinum old coins is nearly impossible and the price of it would be through the roof. Modern platinum bullion is just over the normal platinum price and they make a good investment for those that like this kind of material that resembles silver a lot but it’s still way more expensive than it. Learn more about platinum here.
The clear conclusion would be – if you have a lot of money to invest, go for the gold bars. If you’re in the middle, go for platinum bullion, and if you have just a little but you want it invested, buy some silver bullion or ingots.
After all, it is a personal preference what to get. If you like how some of the metals look like and you don’t like how another looks, don’t mind the price and buy what you like more. One might take a lot more space than another, but that’s something that you’ll have to solve before buying.