Since the recession began, many people have been at a complete loss when it comes to their personal finances. If they’re even lucky enough to still have a job, many don’t know where to keep the money they earn so it’s safe. Interestingly enough, one of the most ancient options may be the best when approaching this new challenge. Keep reading to find out why investing in rare coins could be the solution many people need right now.
While coins are made out of all kinds of metals, the most valuable tend to be those made from precious metals. The following will explain why each precious metal is about to make coins made from them a lot more valuable in the near future.
Silver Sets to Rise
Traditionally, silver has always been a safe, if unexciting investment. It did have a twenty year upward trend, though, from the early 90s until a few years back. The recent drop off had many investors bearish about its prospects. But there’s a lot of reason to think silver’s about to do it all over again.
Those investing in rare coins have always been optimistic about silver. It’s been called “poor man’s gold” due to its historic value and practical uses. Silver almost always trails gold just slightly through its ups and downs. But recent technological advances have many thinking silver might upstage gold in the near future and keep that reign until 2025 or so. One major development has been silver’s application in solar panels. When that machinery finally takes off, expect silver to follow.
The Golden Rule
When it comes to investing in rare coins, the golden rule is to always buy gold. No commodity can match the precious metal for historical precedence and, thus, rise in value. Although gold has been largely flat lately, it’s interesting to note this isn’t necessarily a bad thing. In fact, those investing in rare coins have largely taken the opportunity to continue buying. While it may not have increased in value, gold hasn’t lost much either, making it a much better choice than the dollar and even most stocks.
In many ways, gold is the anti-dollar. As people lose faith in that currency’s future, gold rises in price. When the dollar appears sound, people generally dump their gold reserves or at least stop seeing them as a priority. Unfortunately, the dollar doesn’t appear as though it will be recovering anytime soon. The good news, though, is those investing in rare coins can expect their collection to grow in value.
Platinum Could Become King
While platinum is considered the most precious of all metals, it has never achieved its full potential on the market. Part of the reason it’s so precious is to blame. Platinum comes predominantly from South Africa, a country in perpetual turmoil especially when it comes to mining. Without a consistent source for it, platinum has always rivaled gold in price, but never by as much as it could.
Platinum is still a great choice for those investing in rare coins though. While it’s worth plenty right now, the price will skyrocket if mining practices in South Africa become more reliable or if Russia, the second biggest provider, can manage to harvest greater amounts.
Keep an Eye on Palladium
Most people aren’t familiar with palladium, which is a shame given its importance. Decades back it was discovered that palladium is the perfect metal for catalytic converters. While that helped its profile significantly, it has been on the rise recently due to other technological advances. However, as the world continues to industrialize, palladium will continue to increase in value because of the ever-growing need for automobiles.
It might seem odd, but in modern times, the best investment may not be investing in the newest company or even keeping it in the bank. More and more, investing in rare coins appears to be the best options and there are a multitude of indicators that forecast this isn’t about to change.