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Make sure you have something real

Each morning as I start my day, I check the Kitco website to see what precious metals are doing.

Yesterday I wrote down $1,180.10 for gold and $17.52 for silver. This morning I wrote down $1,197.80 and $17.63.

If those numbers were the only information you had, who would think that the financial system almost melted down again yesterday purportedly due to some glitch?

That’s some glitch.

While it is easy to get wrapped up in online virtual reality, it is important to take a step back from it. Even the stuff that is supposed to be real online might not be.

That’s hard to wrap my mind around.

A little typing mistake can disrupt the world economy or worse.

That sort of puts typos in newspapers and blogs into perspective, doesn’t it?

That isn’t really my point, though. What I think is important to take away from this episode is the necessity of having some things in your life that are real and not affected by virtual reality. Obviously, home and family come to mind, but to whatever list you might compile, keep in mind that a coin collection is very real. You have it no matter what. There is some value there no matter what.

The same is true about gold and silver. Whatever happens, both metals are real. There is value there. There always will be. Market analysts simply argue about current and future prices not about whether they will have any value at all.

That’s something to hold onto.

My point, I think, is true whether next year’s gold price rises or falls. Gold is real. Real is good and it is something that can’t be trumped by whatever happens online.

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3 Responses to Make sure you have something real

  1. Jerome Curtis Watts says:

    There is an old saying, "There is a time to own…and a time not to own…virtually everything under the sun." This ol’ saying has helped me quite a lot. I believe that these are the times to acquire gold and silver. After a lot more pain there will be a time not to own gold and silver. Until then, OUR coin collections allows us all to participate (in these markets) and safe-guard our (family’s) future. The wild swings in the markets can wipe out trading accounts…but those same wild swings can’t remove the coins from the safety deposit box(es). My projects about what the price of gold and silver will be on such-and-such date are often quite wrong…but the steady accumulation of United States gold and silver coins give me peace-of-mind about the (quite uncertain) future. STACK THEM!

  2. Joe Denney says:

    I quite agree…I’ve long heard that it’s good to have 5-10% of your portfolio in precious metals. But I believe it’s even better to have that investment in coins made of those precious metals. That approach gives a person two avenues for protecting their financial viability: 1) through the rarity of the coins, and 2) through the precious metal contained within the coin itself. In addition, the hobby aspect of collecting coins provides a great deal of fun, education, quality time with one’s family, and general satisfaction. I can’t recall ever spending quality time with my family discussing and collecting mutual funds and shares of stock.

  3. Tom Snyder says:

    Our business has had a CPA we work with for over 20 years. He knows about my collectibles. At our last meeting he lamented that in spite of the stock market come back, he still had a 35% loss in his stock portfolio. He wished he’d given me some money to find nice material for him to put away and that then he still would have it. Well, now the market has dropped again. I don’t want to hear him.

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