Where do you buy gold coins? For non-collectible coins, I’ve done repeat business with Blanchard and Co., Inc. and I like how I’ve been treated. I would expect the same for you. And, I say non-collectible coins because I’m not a coin collector.
How many gold coins should you buy? When you buy gold coins do it as if the price is going to be cut in half tomorrow. Ask yourself how much you can comfortably afford to buy if that were to happen. That’s one way to make the right choice for you and your family.
This was my thinking when I was establishing my gold coin position:
What I set-out to do was to create a 50/50 hedge for any gold/cash storage. For example, ten years ago I wanted $5,000 cash so I matched it with a purchase of $5,000 worth of gold.
The idea being that with my cash and gold collecting dust, I wanted to at least have a chance to win the war against my lazy cash. And I did. Both are still collecting dust.
It’s a simple strategy no doubt. But it has worked for me. The key is not to not buy the gold for appreciation. If you do it will drop by half the next day. It’s simply an unwritten law of investing.
Think about it as a way to be your own banker. All your cash is backed up in your safe with gold.
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