Have you invested in gold, silver, platinum, or palladium? Many today are turning to these precious metals as a storehouse for their savings. Which metal should you invest in? It can be a matter of personal choice, budget and strategy. The following is a quick education in the basics of these metals.
1. Gold
Gold will always be top dog in most people’s minds. Man’s love of this metal dates back to before the history books can tell us. Gold has seen some astonishing gains over the past several years. You can invest in both coins and bars of gold. Popular gold coins include the American Gold Eagle, the Canadian Maple Leaf, and South African Krugerrand. Gold is expensive per troy ounce, making it a big investment for those on a budget, but one that gives plenty of options such as 1/20 ounce size coins to 400-ounce bars.
2. Silver
Silver is of course the next best well-known name of the precious metals. This metal can also be bought in both bar and coin form. The popular coins made from silver include the American Silver Eagle, the Canadian Silver Maple Leaf as well as the Mexican Silver Libertad and the Chinese Silver Panda. Silver is a very affordable precious metal, one that nearly every household can invest in. This is a good metal to invest in over time, slowly accumulating and stockpiling it.
3. Platinum
Platinum is the rarest of precious metals on this list. Until recently, it has also been the most expensive but has currently dipped below gold prices. Coins and bars are available in platinum; the most popular include the American Platinum Eagle, the Canadian Platinum Maple Leaf, the Australian Platinum Koala, and the Chinese Platinum Panda. Many investors believe now is the time to buy platinum while the price is low as they have confidence it shall rise again.
4. Palladium
This metal is gaining popularity as a investment metal as well as in the jewelry field. Its price is often the middle ground between gold and silver. The coins available in palladium today are often of the commemorative variety, though Canada does offer an official bullion coin in the Canadian Palladium Maple Leaf coins. The United States may also offer a palladium American Eagle coin, as studies are being done currently to prove if there is enough public interest.
You have plenty of choices when it comes to coins and bars made from these precious metals. Determining which is right for you can be done with a little bit of research as well as knowing your personal budget and goals.
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