Investing in gold is very rarely a mistake. It always has value. When it seems that gold might not be a promising investment, this is the very best time to buy it. Gold is a long term investment that is safe and holds value well. In times of economic downturn and devaluation of the dollar, gold prices go up rapidly. Why gold? Now is a great time for gold. Prices are way up and there is little chance that they will go down anytime soon.
Why gold? Gold is more valuable than silver or most other precious metals. It is widely accepted and sought after on the world market. It is a guaranteed investment somewhere, sometime. Currency used to be backed by gold in the US. But as the deficit increases the government aims to remedy the problem by printing more money. This money has no value except what the people believe it has. When there is so much money in circulation it tends to become less valuable. Prices of food, gasoline, and other necessities go way up to compensate for the devalued currency.
Everyday living becomes difficult. Salaries remain the same but don't buy as much as they used to. Commodities become a currency of true value. Food is more valuable than money. Gold is more valuable than money. The gold standard that used to back the currency is reawakened. Investors buy up gold rather than trust their resources to a market that is failing. Why gold? Gold is a commodity just like food. It also goes up in price like food does so that it retains its intrinsic value. Gold is a great investment to have when inflation hits.
Some of the best gold investments are in coin collecting. Not only do gold coins have greater value as the economy drops out, but they retain other value as well. Coin collectors are all about seeking out rare coins. These are worth the most because they are in high demand and are hard to come by. Minted coins that date before 1933 can sometimes fetch twice their weight value. As an investment, gold coins are also valuable because they are private assets and do not have to be reported to the federal government. Profits from the sale of minted gold coins are exempt from taxation as well. The reasons why gold become a favorable investment multiply in times such as these.