Metals Minute 38: Diversification
From one week ago today, we have gold down a fraction to $1,806, silver down 1% to $24.95, platinum down 2% to $1,062, and palladium down 2% to $2,646. From a year ago today, we have (bullion spot prices, not physical metal prices) gold down 8%, silver up 2%, platinum up 11%, and palladium up 15%.
It is essential to diversify among different metals and between bullion and historical or investment grade proof coins. Often, when bullion goes through an extended period without much happening, coins that are rarer begin to shine.
It is not always about how much metal you can purchase, but about the growth rate of the metal you purchase, which can make the most impact on your total return.
I have some rare historical coins that I’ve purchased through the years and some that I’ve inherited. I also own some “Proof 70” coins that I purchased through the US Gold Bureau. It has been interesting to see them grow in value.