Which is the better investment: Platinum, Gold, or Silver?
Would appreciate hearing educated opinions regarding what’s the best investment given current market prices & outlook going forward–silver, gold, or platinum? Silver is damn bulky, but my limited understanding is that the current silver / gold ratio favors silver.
Also, though I understand that the price of platinum has taken a beating due to the fact that industrial use has declined so severely, I’m amazed that the price of platinum is nearly on par with gold!!
So my question is this: if one has a fairly long term investment horizon (5 – 15 years) , which metal would be the best investment at today’s market prices–silver, gold, or platinum?
Also, if anyone has a suggestion as to other forums where this question might be better asked & answered, I’d appreciate a web address.
Investing in Precious Metals is not to "get rich" but rather to protect the value of your assets/wealth whether you are rich or an average investor.
Platinum is used in jewelry but the most extensive use is in catalytic converters in autos. As the U.S. and world economy slides into recession, the demand for platinum will decrease.
Silver is used in jewelry, in manufacturing and as a store of value. Once again, as the economies slow, the use of silver in mfg will decrease.
Gold is used in jewelry, manufacturing and as a store of value. As the economies slow, the use of gold in mfg will slow.
If you are wealthy and plan to buy 100 oz gold and silver bars you may wish to consider buying over seas and storing them in vaults there. Australia and Scotland have vaults expressly designed for these transactions.
If you are an average investor, the advantage of gold is the amount of value that is stored in a gold coin as opposed to a silver coin. A 1oz gold Saint Gaudens gold eagle coin, pre-1933, has a value in the $950 range.
A $1,000 silver coin bag of pre-1965 coins that have a 90% silver content, weighs 58 pounds. These bags consist of quarters, dimes and nickles and will always be worth their face value or greater if the silver content is a consideration.
The reason pre 1933 gold coins are recommended is that President Roosevelt confiscated gold during the last depression. Even though citizens were prohibited from owning gold in 1933, gold coins of numismatic value were exempted from this decree.
In 1975, President Nixon made it legal for U.S. citizens to legally own gold once again.
Most legal experts believe that if U.S. citizens were required to turn in their gold in the event we go into another depression, that once again, gold coins of numismatic value would once again be exempted. Numismatic coins are coins that have value over and above the value of the gold or silver content in them due to their rarity. Coins minted pre 1933 are rare and have additional value because of this. Hence they are referred to as numismatic coins.
An ounce of gold buys the same amount of goods and/or services now that it did 1000 years ago, so this is only a way to keep money, not necessarily invest it.
If you want a real investment, buy liquor and cigarettes. You can trade them for food!
Remember, when times are good, people celebrate, when times are bad, they drown their sorrows. Learn to take advantage of market conditions.
Now this is a weapon!
I’ve been reading that google and others are investing in “green energy” projects. Silver is used in solar, electronics and many other things, including some coins and has not been mined as extensivly as gold. There must be a reason mining companies are searching for it like crazy. I work in an industry that allows me to meet a variety of people and I’ve met quite a few people setting up work camps up here in Northern Ontario where there are at least 6 silver projects gearing up.
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