December 18, 2013
Now that I have some jewelry that is made of 22% gold and a credit-card-sized piece of gold that breaks into 1 gram pieces, I ran out of ideas for new gold products to buy. I considered buying one of the new style bracelets offered by Goldsilver.com, but decided against it. Instead, I decided to start spreading my physical gold and silver around some more within the U.S. Hence, I ordered $2000-worth of precious metals to be sent to my daughter.
I told her that I want to keep my metals in various places just in case something happens to the metals I keep at my house. While this is true, the dual benefit is that if all hell breaks loose and our paper currency collapses, she’ll have something of value to use to purchase necessities. Pretty clever, huh? I still need to position some metals with my son. I’ll take care of that soon.
As usual, I bought the metals to stow at my daughter’s place two days before gold prices plunged even further. It’s just part of life. If I keep buying every month or two, it should all average out.
I have also signed up for a program called “MetalStream” through the Hard Assets Alliance (HAA). It’s a way to make regular monthly purchases of precious metals without having to meet the $5000 minimum. You can invest as little as $250 per month in this program. Your funds will be allocated between your choice of a one-ounce gold bar or a 100-ounce silver bar. Once you own a whole bar, you can elect to have it sent to you or leave it in storage in either Singapore or Salt Lake City, Utah. Even your self-directed IRA can participate in this program.
A key point I want to make about this program is that you are actually buying a portion of the bar at the price on the day your monthly investment is applied. What they are not doing is gathering your monthly investment into an account and then buying at the price on the day when you finally have enough in your account to buy the whole bar. This gives you a really nice way to dollar-cost average with a small monthly investment.
Yours in prosperity,