Like Goldfinger. He knew what was up, and so should you – by collecting precious metals.
I only say this half in jest, because I really do love this hobby and investment. As we’ll now explore, it’s incredibly cool for many reasons. It’s nice to look at, makes you an easy gift-receiver, and will probably make you richer in the long run.
Here’s why you need to get golden.
Disclaimer: This is all my personal opinion and not financial advice or any other kind of professional advice.
Why You Should Be Collecting Precious Metals
Precious Metals are Investments
The practical side of me loves to collect precious metals like gold and silver because they’re investments. Over time, they will either hold some value or even rise in value. I would not hoard them unless you know what you’re doing, but you at least have a guarantee that they will not gradually lose practically all of their value, unlike most things you can buy.
For example, here’s a chart of gold’s value from 1989 to late 2020:
Not a substitute for stock investing, but a nice supplement. As you can see, gold has quadrupled in value since around 2006.
Now let’s look at the chart for silver:
The upward curve is not as impressive as gold’s, but silver has, likewise, practically quadrupled in value since the early 2000s.
Start Collecting Precious Metals Because They’re Beautiful
While you can collect precious metals in their pure form as just chunks, I really love getting different coins, bars, and other pieces. They’re really pretty and nice to look at, plus they usually have some history or cultural value, too.
For example, here’s a cool “novelty” John Wick gold coin:
Betcha Keanu has some of these!
You Get Gifts You Really Love
This is one of my favorite reasons to collect precious metals: I make it really easy to buy me holiday and birthday presents. It’s easy to buy cool pieces for less than $50, and by now my friends and family know that I love gold and silver.
If you take up this hobby, you’ll make yourself a really easy gift-receiver and avoid those unnecessary conversations. You know, the ones where your spouse asks you “what do you want for your birthday”? And you’re like “I don’t know”. And this continues for a while until you finally give in and choose something you’re not crazy about.
With precious metals, you can get awesome, valuable gifts, and make it extremely easy for family and friends to acquire them.
You Can Start for Very Little Money
Don’t think it costs $10,000 to start a precious metals collection. In fact, it costs less than $50. For that price, you can get small gold coins and bigger silver ones, new from the mint or pre-owned.
Check out this classy silver Krugerrand from South Africa, which you can buy for less than $40:
This is what I’m doing – starting small. But it’s cool because I get something I love to hold and look at, and it adds to my net worth, too.
Summing It Up
So as we’ve seen, there’s a lot more to collecting precious metals than meets the eye. You get something beautiful that will probably increase in value, and it’s just a truly golden (pun intended) hobby and investment.