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How to Invest in Precious Metals on a Budget

Buying Precious Metals may seem out of reach to beginning investors on a budget. After all, Gold, Silver and Platinum are three of the most valuable natural resources in the world. Long admired and appreciated for their aesthetic and practical uses, Precious Metals like Gold and Silver are quite simple to purchase and are known as low-risk investments that will stand the test of time. For anyone looking to start a portfolio with only limited resources, following a few simple guidelines will make sure your foray into the Precious Metals market is uncomplicated, worthwhile and even fun.

Start by Investing Time

Just like shopping for any other commodity, buying the Precious Metals that are right for you requires a little more time upfront. You want to research the retailers, mints and manufacturers that have the best reputation for selling quality bullion pieces at the best price. The time you spend studying for your first purchase will be hours well spent because the knowledge you gain will be useful as you scale up your investment metal holdings in the future. Over time, you may discover that you prefer Gold and Silver products from particular mints, such as the U.S. Mint or PAMP Suisse. Even though all of the top mints in the world guarantee a certain level of quality and craftsmanship, buying Precious Metals is a personal practice that allows investors to buy based on design elements and historical significance. Enjoy the time you spend getting a grasp of the market and you will be surprised how fast you find bullion pieces that are right for you.

Use Spare Change to Buy Investment Quality Coins

Some people save their pocket change to buy Christmas presents. Others break open their piggy banks when it is time for a vacation. Anyone looking to acquire Precious Metals on a budget can save everyday currency like dimes and quarters, then cash them in periodically to buy bullion coins and rounds. Since Precious Metals can be purchased in many different sizes and price points, you will always be able to find something in your range. Silver Dimes that contain 90% Silver can be bought for less than $5, so it will not take long to save up enough quarters to make a purchase.

Create a Game Plan 

Make a calendar that outlines specific dates when you will add to your portfolio. For different individuals, that might occur once a week, every other month or whatever time increment seems right. The important thing is, though, to stick to your plan. Put as much as you can toward your purchase on the date and buy bullion that offers the best value at that time. On one occasion, Platinum may be selling at bargain prices, while the next time it is Gold. Spreading your purchases out over time minimizes your risk of buying when prices are too high and maximizes your chances of getting assets when prices are bearish. If you see that Precious Metals prices are rising between planned purchases, make a bonus buy if funds allow.

Be Open to Buying One Coin at a Time 

Not everyone can make large acquisitions on a regular basis, but buying one coin at a time is accessible to many budget investors. When you have the money to invest, buy a beautiful Silver Half Dollar. If you get an unexpected bonus at work, go for that half-ounce Gold round you have had your eye on. Nobody says you have to buy a suitcase full of Gold bars to get into the Precious Metals market. Rome wasn’t built in a day and your portfolio does not need to be either. Some collectors buy a single coin from the same annual series upon release, diversifying their collection with examples from multiple series. The great thing about bullion coins from different countries is that many of them have guaranteed face values. In the event of a significant swing in the price of Precious Metals, you still have the assurance of worth from the country of origin. 

Stay Skeptical of Deals that are Too Good to Be True 

This tip echoes back to the original advice about researching the market. Because buying Precious Metals is so popular, there will occasionally be disreputable people out there trying to take advantage of uneducated shoppers. If you see a coin buying opportunity that is much, much cheaper than current market prices, it is likely that the products for sale are not authentic. Keep in mind that real Precious Metals have real, inherent value. A pop-up shop in a low rent strip mall does not need to sell their Silver and Gold to you way below spot prices, because there are millions of buyers out there willing to pay more. Always stay up-to-date on current market prices and always do business with sellers that have a long-standing reputation for quality.

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