Gold and Silver Investing Resources
Investing In Gold & Silver
Gold and Silver investing is not something that can be jumped into without some level of knowledge. This article is intended to assist in providing the base of information that you need in order to begin investing in Gold and Silver in a conscientious manner with reputable companies so you do not fall into one of the many Gold and Silver investing pitfalls.
If you take your time, think methodically, and invest wisely then there is absolutely no reason why you can't invest in Gold and Silver, make some money, and enjoy doing it. Below I have placed the steps in a specific order to help you build knowledge in a few small steps.
It may take you a few days (hopefully weeks) to build up proper knowledge to begin. I am providing links to specific articles that will give you a firm idea of the climate that Gold and Silver investing is in, and then news sources where you can literally spend the rest of your life learning about Gold and Silver investing.
After you have gotten your fill of learning the fundamentals, and reading all of the news out there, I then provide a short summary of some dependable companies that I have had first hand experience with. Even though I make suggestions, I will always recommend that you research for yourself. What works for me, and what works for you may be completely different things.
Getting Started:
No matter what you want to do, you must learn the ropes. Investing in precious metals like Gold and Silver is no different. Below I will be including some resources for you to begin on the path to precious metals investment.
Common Words, Phrases, and Lingo: Like every other investment on Earth, Gold and Silver has a language all its own. This article is a great reference that you should bookmark. Anytime you see a word or phrase you don't know, you can look it up in here. If you happen upon a phrase or word that is not listed, then leave a comment and I will update it.
Pitfalls to Gold and Silver Investing: There are lots of options out there, and lots of people that want to take advantage. Like every other investment, there are things to avoid. This article will help you to recognize some of the more common pitfalls and scams that are present in the world of Gold and Silver investing.
Silver Coins of the United States: This is a very comprehensive article about the circulating Silver coins of the United States. It includes the amount of Silver contained in each coin as well.
Gold Coins of the United States: Just like the Silver coin article above, this article discusses the Gold coins that were minted for circulation in the United States. It also contains the Gold content of each coin for easy reference.
Researching:
DYODD is a common phrase, which is defined in the terminology article here, and it is an important acronym to follow. You must do research before you invest. You must understand the basics and you must be comfortable or else you will find yourself investing in very unfamiliar territory and potentially losing money.
Spot Price: Spot price is the current price of an ounce of Silver or Gold at a given time. It is important to keep track of spot, and it would be more helpful to understand trends to help you figure out where the price may be heading. This link is to a very reputable and trusted source for this information and it is updated constantly.
Gold and Silver News: News sites will give you a lot of information into what is happening in the world of Gold and Silver. Beware: some news sites will hype little things that mean nothing at all, and others may make it sound like the world is ending. I cannot speak to the validity of any of their claims, but do not let anyone scare your money out of you. Some great sites to read are listed below, note that some are very technical and may be above your head now, but you will learn in due time:
Precious Metal Forums: I'm hesitant to suggest this just because it will yield mixed results but I'm providing a link to a forum that I belong to and it is probably the most beginner friendly forum I've been on. Many precious metals forums are a bunch of seasoned veterans that do not have time to coach, or it is a lot of conspiracy theories. The forums are a great place to learn but there is a lot of sifting to do. The forum I'm providing a link to minimizes the sifting you have to do and it is a friendly environment. Sign up and begin learning. Please note: I earn no compensation in any way, shape or form by suggesting this forum, I just think it is a great place to learn.
Buying and Selling:
Once you feel that you have researched Gold and Silver investing well enough you may be ready to begin buying and selling. Many people just want to buy at first to establish a base, and this is perfectly fine. No matter what you do, make sure that you buy from a reputable company that you have researched. I have done business with a few companies and I will list them below along with a description of my experience. Please note that my experience and yours may vary so I will not make any guarantees or warranty of the experience you receive. I in no way, shape or form receive compensation for recommending these Gold and Silver dealers, this is strictly to help you out.
BullionStacker.com: This is the forum I belong to and I have made many successful deals. This is a great place to begin buying and selling but you may want to stick with reputable sellers until you get the hang of it. This is very much an honor system based community and with that comes risk. I have never once had any issues.
Apmex.com: This is one of the standard Gold and Silver companies that people deal with. Anyone can purchase, big or small. This company is reliable, they have a great selection of Gold, Silver, Platinum, Palladium and competitive prices. They do give price breaks on quantities and they have a sliding shipping price so ordering in larger quantities is more cost effective but not required.
Westminster Mint: This company has great shipping prices for small purchasers and pretty decent turn around. I've gotten all of my orders quickly, and they've never messed one up. This company also mints their own "generic" Silver which is nice because you at least know where it came from.
Monarch Precious Metals: This is a newer company but they have been very dependable. They mint all of the products that they sell and they are one of the last remaining companies that manufactures hand poured bars. Meaning that their Silver bars are poured into molds the old fashioned way. They have sales often, their prices are competitive, they have very friendly shipping prices, and they have a great turnaround.
NWT Mint: (Northwest Territorial Mint) This is a very popular Gold and Silver company with small-to-medium sized buying requirements. They have some very unique Silver and Gold and they also carry some of the big name Silver and Gold miners and mints. This company has been around for a while and has a good reputation. The biggest drawback is that they can sometimes have slow turnaround, or long waiting periods. They always honor their prices though. If you buy 50 ounces of Silver at $12.00 an ounce and the price shoots way up before they can get it to you, they will still honor that price. So, while the wait might be long, they are quite honorable and trustworthy.
Kitco.com: I'm including Kitco because they are such a big name in Precious Metals but unless you have deep pockets I can't suggest going here. Their prices are mediocre at best and you get killed by their shipping and insurance requirements. Unless you're buying thousands upon thousands of dollars in Gold or Silver then you should probably stick to some of the aforementioned companies but check this company out just to get a feel for the whole Gold and Silver market.
