Today, we are seeing more and more people turning to gold, silver, and other precious metals as an economic choice during hard economic times. Fox 26 News consumer reporter Heather Sullivan turned to the experts at U.S. Coins and Jewelry to get some valuable information on how to make those investments safe for consumers. Watch the video below to see the full interview.
We have all seen in the current circumstances that the price of physical gold has risen to over $1,700.00 per ounce. The precious metals market has not seen a rise like that since 2012. When the stock market recently took a significant drop, people began to flock to buying precious metals. Throughout time, we’ve all heard that gold, silver and other precious metals are considered safe investments during an economic slump, so Fox News wanted to investigate why. “Gold is something that you can actually hold on to, you can put it in your safety deposit box or hide it under your bed for that matter. You know it’s cash and will be good anywhere in the world” Said Kenny Duncan Jr. of U.S. Coins and Jewelry. The love of owning, trading, and bartering with gold and silver dates all the way back to early Egyptian civilizations. Gold and silver have been a measure of wealth throughout history; bullion is the form in which these physical precious metals are traded today.
While gold is way up, so is the price of silver, and it may be the perfect choice for consumers that are just entering the market. Especially since it is available in bullion, bars, and coins. In fact, many individuals consider bullion as a ‘safe haven’ for the future. Gold and Silver are not only some of the world’s most precious metals but also one of the best investments you can make against inflation. Stocks may crash, but gold lives on… and history proves it.
But that’s not all, people have also been taking advantage of the rise in price and bringing their gold, silver, and jewelry in to sell and get some quick cash. U.S. Coins and Jewelry is also there for them. Matthew Duncan explains how the process works. “Typically, when a consumer brings us precious metals like gold and silver, we use a Spectrometer (X-Ray machine) to get an accurate reading. This state-of-the-art equipment reads the purity of the metal content which helps us determine the value and price we pay”.
If you are new to investing in precious metals, the best advice you can get is to educate yourself and use a reputable precious metals dealer. Kenny Duncan gives these helpful tips; “Make sure they are using the proper equipment to verify your gold or silver. Also, make sure that they offer some sort of “Buy Back” program. Lots of places will sell you metals, but many are not prepared to buy it back from you.” There are many things to consider if you are looking to buy or sell your precious metals, we recommend that you talk to the experts at U.S. Coins and Jewelry. They will take the time to sit with you and help you understand your best options when it comes to buying or selling precious metals.