Reasons to Buy Gold
Many people wouldn’t even begin to consider allocating their finances into metals such as gold, silver, platinum or palladium. Ever since paper currency became the international standard, gold has gradually lost its popularity. Since the year 1933, when silver and gold were no longer considered legal tender, the price of gold has been continuously fluctuating. This leaves us to question, why are so many people still purchasing gold when it is no longer legal tender?
Safety and Longevity
As technology progresses, the use for tangible currency is dwindling. At this point in time, as long as you have a charged phone you are able to purchase services and goods with the swipe of a finger. Technological advances have lead to phone transactions, online banking and much more. With all of these implementations comes a great deal of risk.
It shouldn’t come as a surprise that money is the main instrument that we use to help us function as human beings. Electricity, shelter, clean water and food are not free to the general public. Most people’s paychecks are allocated to the daily essentials and without our utilities it is nearly impossible to live an American lifestyle. If our online bank accounts were ever compromised we would feel helpless and terrified.
Tangible assets such as gold, platinum and silver are practically a risk free investment. It’s a lot easier for a criminal to access your bank account than steal from your gold supply. When emergencies arise and bubbles finally pop, gold will always be there for you. Gold will always have value and if you find yourself in times of desperation, you can sell gold for currency. Throughout the past three thousand years gold has always held some sort of value.
Portable and Simple
Over 90% of Americans can easily carry or transport their life savings in the form of gold. A 400 troy oz gold bar is only 27 lbs and can easily fit inside of a backpack. That same 400 troy oz gold bar is worth close to $800,000. As of June 2018, the average American household possesses around $175,000 in their savings account. $175,000 in gold can easily be compressed into a handheld gold bar. Would we recommend putting your entire savings into gold bars? No we would not, but it is achievable.
The best part about investing in gold is that you don’t have to be a connoisseur or experienced in selling or buying gold. As long as you’re not collecting rare gold coins, buying and selling gold is extremely straightforward. If you’re looking for more information on our gold selling and buying process, give us a call at 781-710-8419. We’re located in Burlington, MA just 30 minutes from Boston. It’s never too late to invest in gold bullion.