Some people across the world know all too well just how possible it is that a disaster might happen. Unexpected storms or military invasion can mean the different between your normal everyday life or an upheaval of events where each and every day is a new mission of survival.
It goes without saying that preparing food, water, and shelter are essential parts of surviving disasters, but what if I said that owning gold and silver was another facet of survival? The fact of the matter is that precious metals will most definitely serve countless benefits in the wake of a disaster. The reason for this is that in the wake of disaster, paper currencies will be deemed worthless as they are nothing more than paper. This means that making purchases and bartering with paper money is going to be a fruitless endeavor.
Gold and silver, metals that have been valued and sought after for thousands of years, will undoubtedly take the place of paper money and credit cards we have today and it would be a shame for you to be caught up in a disaster without these items. The purpose of this article is to explain to you the different types of metals that you can buy as well as the possible benefits that they will serve you. Being prepared for disaster is by no means an easy task, but with gold and silver it can make your preparation even more complete.
Coins vs. Bars
The two main types of gold and silver are coins and bars. While these two entities can be found weighing the same and containing the same amount of metal in them (purity level), they are very different. The main difference between gold bars and gold coins is the fact that coins are used as legal tender whereas bars aren’t. Going hand in hand with this is the fact that coins are only produced in certain countries where bars are produced everywhere. For example, a 1 oz American Gold Eagle coin can only be produced by the US Mint, but a 1 oz gold bar can be produced by any privately owned mint across the world.
Since mints are government-run, the coins that come from them are as scarce as the government mint decides it wants them to be. Bars, on the other hand, are produced in countless numbers and when one company stops producing them, another begins. This means that coins are more often than not rarer than similarly sized bars and is the reason why gold and silver coins will often cost more than gold and silver bars. These are a few of the reasons why you should own gold and silver bars in preparation for disaster instead of coins. Coins being more expensive than bars is not always the case, but more often than not you will see that this is true.
Timing Your Buys
Just like it is always a smarter choice to purchase something like a television when it is on sale as opposed to when it is not, it is important to purchase precious metals when their value has taken a momentary dip. Like stocks on the stock market, the value of precious metals is always changing. As a potential investor it is your job to watch the markets and see how precious metals are acting as a way to better gauge when you should make a purchase.
Buying at opportune times means that you are going to be making the most out of your money as well as giving your investment room to grow and become more valuable. Predicting which way values of gold and silver are going to move is not an easy task, but making a reactionary buy to a drop in the price of gold or silver is something that can be done with little to no effort at all.
Where to Buy
When in the market for gold and silver, searching the online catalogues of web-based precious metals dealers is the smartest way to go about making a purchase. The amount of online dealers is growing at a consistent rate and we all know that the more competition there is, the better the price is for the consumer.
Doing side by side comparisons of products offered on different online dealers is a great way to make the most out of your money. In addition to there being a countless number of online dealers, the fact that you don’t even have to leave your house in order to make a purchase attracts a lot of investors. The only precaution you have to take when making a purchase is being sure that the online dealer you are buying from is a reputable one. JMBullion.com is one of the most trusted names on the Internet, and there are countless positive reviews to be found attesting to their reputation and service.