What gold coins and or bullion should I buy? Question comes in Mind
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Why should I buy gold?
Why buy gold coins?
Why buy gold bullion?
Why gold?
Why buy coins?
Why buy bullion?
Why silver?
Why gold coins?
Why gold bullion?
Throughout history gold has proven that it is a store of wealth. Gold is also an investment that preserves its purchasing power and acts as insurance against economic turmoil. Especially in todays environment of massive money printing and unstable paper-currencies gold has shown its power in being the measure of consistency. The ownership of gold is a hedge against the devaluation of peoples wealth.
Every currency in todays world is paper based. There is a difference between money and currency. Money per definition is a store for wealth, something with intrinsic value. A currency is a promise to pay the bearer on demand. This promise in best case is backed by money. For example the US-Dollar was backed by gold until 1971. Todays currency is backed on a countrys economy. A countries economy is the working and taxpaying people.
Economists have proven that throughout history these kinds of paper systems (that we have currently) fail without exception. The book This time its different Eight centuries of financial folly (ISBN 978-0691142166) is a high recommended read that takes the reader into the history of money of over 80 countries.
Based on the knowledge of the history of money owning physical gold is one of the very few ways to protect ones savings, the authors conclude. Another interesting fact about gold being money is that it brought a stable economic environment to people as excessive money printing is not possible in a true gold backed currency.
The value of gold is a direct reflection of the strength or weakness of the currency gold is priced in. That means as long as governments keep continue to print money, gold prices will rise. Many experts, such as Jim Sinclair who is one of the most renowned gold experts in the world predict gold being at $5,000 in the near future.
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