Tangible gold; it’s the stuff of dreams and legends. We’ve found gold coins dating all the way back to fifth-century BC in modern-day Turkey; they were also the cornerstone of efficient trade in the Fertile Crescent regions, such as ancient Mesopotamia as well as Egypt. After 1848, the gold rush in America reached its strongest point, and the minting of coins in the Western world became commonplace up until 1900 when most nations switched to a gold standard.
Here are a few interesting reasons why investing in physical gold, whether bars or coins, is a fantastic idea for your financial future.
Gold is finite
One of the most pressing reasons to invest in gold now as opposed to later is that it’s a finite resource on this planet, and it’s speculated that we are close to a peak situation; which basically means the planet will cease to have any more gold that can be harvested. This will ultimately lead to higher prices of gold worldwide due to its future status as a non-renewable resource. Gold companies might even start consolidating down the line, competing with each other to determine who has the higher amount of stored resources.
Gold is gold
It seems like such a silly statement, but it’s worth hammering in; gold is instantly recognizable. You don’t necessarily need an expert or any sort of fancy equipment in order to verify that gold is, in fact, gold. With that comes a certain peace of mind in its acquisition. You’re not merely investing in some strange natural resource that has been recently discovered, but in a precious metal that has existed for quite a long time and is acknowledged by everyone.
It’s truly international
Gold is known as a liquid asset, which means you can easily convert it into alternate forms of currency in no time at all. You can buy gold in the USA and transfer it to a foreign country, and it is still recognized. You can buy to hold or to literally sell on the next day if you feel like it. Gold’s essence is one that is never-changing; its existence defies barriers of language and geography. Gold is also traded across the world more often than other investments, such as bonds and even commonly traded stocks (like you see in the Dow Jones Industrial and the S&P 500).
An addition to your IRA
There is actually a gold IRA. It can hold the two main precious metals traded around the globe (gold and silver) but can also contain other assets such as stocks, bonds, mutual funds, and hard cash. Embedding gold within an IRA is a smart move, as gold generally is not affected by trends in the market; in fact, it generally goes in the opposite direction to fiat currency. For example, if the Euro lowers in value, gold will, for the most part, increase in value at the same time. Gold also tends to skyrocket in value during times of inflation, offering yet another good reason to opt for a physical gold IRA.
It’s politically untouchable
As strange as it sounds, gold could potentially be a surprising boon for individuals who live in countries that are on shaky ground in terms of political stability. It’s a private form of wealth that goes beyond the modern day banking systems. As stated above, it’s portable worldwide, and thus would make an excellent investment for individuals living in countries where their personal freedom is under fire on a regular basis. One can invest strongly in gold, and store it in offshore banks. This, of course, has to be done prior to any sort of catastrophic event, but the savvy investor always has their eyes open to possible events, and how things might regress, economically or otherwise.
If any of the points outlined above interest you, consider looking into investing in a physical gold IRA today. Your financial situation doesn’t have to be up in the air!