I?ve written before about my parents and their sometimes kooky schemes.? For example, their gas mask and MRE supply, or their famous station wagon sized earthquake kit, but this time they may be on to something.? For the last five years my parents have been freaking out about inflation and what will happen to their retirement investments.? And I really did laugh when I heard they cashed in much of their savings for gold and silver.? But that was mostly because I thought they bought it as a way to have currency when the world?s economy crashes and the dollar is worth nothing more than toilet paper.
Only now, I?m not so sure that it was crazy!? The economy has driven the prices of gold and silver way up.? My mother-in-law is a numismatic and she keeps me informed on the current silver prices.? Sometimes she even buys coins just because of their silver value, not their monetary value.? She keeps up on all the latest in the numismatic community and she knows what?s hot in today?s coin market.? All though her silver and gold coin collecting started as a hobby it has grown to be a huge investment for her, especially when she is able to sell coins for a profit.
I think the key to taking advantage of this market by investing in gold and silver is smart.? As inflation grows the value of the gold and silver continue to rise.? I do think that it?s important that if you decide to go this route you educate yourself on the process and purchase from reliable sources.? There are many companies that can advise you, like IndependentLivingBullion.com for example, who will help you determine the best method of investing for your particular set of circumstances.
Whether you buy bullion coins or U.S. Mint coins it seems like it will pay off as long as the economy continues to be unstable.? For those that are close to retirement, and watched their 401K plummet, I can see why gold and silver would be a smart way to conserve your savings and plan for the future.