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Thursday, February 09, 2006

Sell Gold and Silver

More and more people are becoming aware of the fact that they can buy and sell gold and silver.

The drop in confidence by people in fical currency, as governments print more paper money to solve the problem of inflation and debt caused by the printing of more paper money, also inspires them to seek 'hard' currency and asset storage in the form of solid gold and silver.

In times of economic crisis or heavy government control, people gravitate towards something they feel has a solidity and a stability proven over many years and that is usually precious metals and jewelry.

When the value of printed currency fluctuates wildly, the value of gold and silver still holds it’s own and an ounce of gold or silver still purchases the same, if not more, than an ounce of gold or silver did 10 or 20 years ago. Many people than accumulate gold and silver in the form of coins and small bars.

The question then arises, when should one sell gold or silver? Of course when the value is at its highest. This will most likely not happen for some time. Both metals are rising steadily as governments violate the most basic of economics resulting in increased debt and inflation. If one can get by without selling gold and silver, then one gets to retain one’s assets and most likely, even increase them as the value of gold and silver increases against the value of the printed dollar.

Gold and silver hold their value, regardless of the economic climate. An ounce of gold will always be an ounce of gold. It will always purchase what an ounce of gold purchases. The same with silver. Accumulating gold and silver coins and bars is an excellent way to store one's assets for the future.

Don Stott at Sell Gold and Silver gives a good rendition of the importance of when not to sell gold and silver.

The point then is, if you want to sell gold or silver, don’t, unless you absolutely have to do so to survive.

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