August 9, 2009 – Buy Gold Coins

A question we hear now and then; When’s the best time to buy gold coins?

The answer is… well, if you could get a time machine and go back to 1940, before the gold standard had ended, but after it had been made legal once again to own gold, then the gold you buy then would be worth hundreds of times now what it was then… Of course, that’s not possible. Rather, the real answer is "buy gold coins as soon as you comfortably can".

Gold is on the rise, and it most likely will not peak anytime soon. We’re in the middle of a recession right now. Not at the end of a recession, but in the middle.

If you want to know how gold performs during a recession, you need only look at the 1970’s. In the 70’s, gold wasn’t worth much at the start of the decade, but by 1980, the price of an ounce of the metal had more than tripled.

So as we see, gold tends to perform excellently during times of economic crisis. In fact, just look at the last ten years. In 1999, gold was worth less than three hundred an ounce on average. Today, the metal averages around nine hundred an ounce in recent months.

We’ve seen unprecedented numbers of new investors looking to buy gold coins over the last few years and, along with the sinking dollar, this has had a significant, positive impact on the value of the metal.

The only downside for these new investors who’ve opted to buy gold coins is that they didn’t get in on it a bit sooner. Essentially, no time is a bad time to buy gold coins, as you could always use the solid backbone of a metals investment to safeguard yourself against economic crisis, however, some times are better than others.

Ideally, you want to buy gold coins while the prices are low, but on the rise. Right now, we don’t exactly have the option of buying gold coins at a remarkably low price, but that’s only because the metal is seeing such a remarkable period of growth.

That period of growth is not likely to end any time soon, so don’t let the spot price turn you off of buying more coins right now. Again, the price has not peaked and most likely will not peak for some time to come.

In fact, the price will probably not peak until the end of the recession, and as we’ve seen, the recession is not over, and will probably not be over for, perhaps, a few years to come. President Barack Obama has said as much himself, stating that this economic crisis will not be over in one year, or perhaps, even one term.

In other words, if you’re not safeguarded with a solid gold investment yet, then the right time to buy gold coins is right now. Even when, and if, this recession does end, this is not the first recession that we’ve ever faced as a nation, and it most definitely will not be the last. It is certainly better to already have gold before the recession than it is to wait until the last second, but in any event, it’s never undesirable to have gold.

When you buy gold coins, you’re really buying not pieces of metal, but peace of mind. Gold is simply a great insurance policy against times like these, in that you might not need to cash any of your gold out until you’re ready to retire, but when crises like this one do happen, it is, as always, better to have it and not need it than it is to need it and not have it.

So, short of building a time machine, the best time to buy gold coins is right now, or at your next possible convenience. Gold generally tends only to increase in value over time, and while it does have slower periods, those periods occur during times when the dollar is strong and it’s less of a necessity to have the metal, but nonetheless, the metal is there for you when such periods end. In short, buy gold coins, and you will have quite a bit less to worry about through this recession and the next one.

Linda Hess

August 9, 2009

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