Introduction: My Journey

I am starting this blog to share my experience with learning about and collecting precious metals. I hope that what I learn and share can help you to decide whether or not collecting precious metals is something you would like to do.

There 5 reasons why a decided to get into precious metals.

1. Inflation - Lately, we have experienced the highest price increases since the 1970’s. I want to save money without wondering if one day it will be worthless.
I have always known that the dollar depreciates in value over time. Having a major in economics back when I was in college, I knew about the issue of inflation. I did not really internalize it. I just went along like everyone else thinking that you just need to work and save money to get ahead. But behind the scenes our dollar is buying less. I never took the time to stop and think about how to deal with the issue and how badly it works against us. Now, I want to do something about it. Moving some of my money over to precious metals will help to hedge inflation.

2. Affordability - Right now spot price on silver is around $20 an ounce and an American Silver Eagle coin is about $36. It is easy to buy a coin here and there vs. a gold coin for around $2000. I think it is pretty cool that we have this option to start saving money in precious metals. I would like to build a great collection over time and also eventually exchange some of my silver to gold as well. There is no excuse to not start by just buying a coin and making it a regular practice on a monthly basis. Also by doing it that way you can dollar cost average to avoid buying it too high. But that is not really too much of a problem now being that silver now has a very low price compared to gold historically.

3. Economic Crash - I believe in being prepared for the worst to happen. Over the last ten years have been building a food storage and recently have obtained a 10,000 gallon swimming pool for a secondary purpose of water storage as well. I think having some silver coins could possibly come in handy if we found ourselves in a complete government and economic collapse. I have heard stories from the days of the depression that there were people from the cities hopping on trains heading out to the country with many of their valuable possessions to go buy food from the farmers. They probably gave up items that were much higher in value than food normally would cost. If worse came to worse, having some silver coins would possibly give me the ability to buy or barter if needed.

4. Potential growth on numismatics - I have seen that there are people in the coin collecting world that are curating their own coin collections and making a lot of money by obtaining special types of coins and sets of coins and I would like to start learning and collecting myself. If I was only concerned about economic collapse I would only by silver and gold bullion coins at the lowest prices I could get. By collecting numismatics during normal or good economic times, I could possibly make money on some special or rare coins and collections. Kind of like baseball cards or comic books.

5. Future for my children - I hope that one day I can obtain a collection that I can pass on to my children so that they will one day have something to help sustain them if needed. Especially for my son who has autism. I always wonder and worry about how my son will be taken care of after I am gone. Sure there are government and non-profit programs to help people in his situation but what if that all went away for some reason. Perhaps if he had money in a trust designed to support him that it would ensure that he would be taken care of. I feel better with the stability of the precious metals versus the stock market over time to be there when needed.

How I am going to accomplish this?

I just obtained a membership with a company called 7k metals. The membership will give me direct dealer pricing and access to special low mintage coins as well.
I am also studying economics, precious metals, collectors, videos, websites, etc. which I will share with you in the days to come.