It is really important for an investor to first understand the economy and the financial systems prevalent in the market before one decides what to invest in. Precious metals can be a great hedge for inflation and typically retain value; in the 1800’s you could buy a decent suit with an ounce of gold in 2012 you can buy an excellent suit with that same ounce.
Here are a few tips to consider when purchasing gold or silver:
  1. Always take delivery.
  2. Never buy premium if you can avoid it.
  3. Buy bullion for business, numismatics for fun.
  4. Buy silver first, then gold.
  5. Buy small gold first, then large.
  6. Never buy exotic coins or modern rarities or anything you don’t understand.
  7. Know your dealer.
  8. What governments can’t find, they can’t steal. (private vault storage)
  9. Never swap bullion coins for U.S. $20 gold pieces.
  10. Never break the law.
Performing due diligence is key to understanding any investment not just precious metals; Good Luck and Happy Investing!