Central banks are holding. Accredited investors are holding. Even most of the “ESG” tyrants like BlackRock and Vanguard are holding. Physical precious metals have become a “must have” commodity in portfolios and safes big and small.
Increasingly, more middle class Americans are holding gold and silver as well. Inflation was the biggest driving force in 2022 and 2023 for precious metals purchases, but over the last few months it has been their concern over the coming election that is pushing Americans into making purchases.
If Donald Trump wins the presidency, law enforcement has warned that there will be widescale rioting that could dramatically impact the supply chain and infrastructure, potentially hurting the economy. But if Joe Biden (or his Democrat replacement) wins, a continuation of current economic policies would inflict long-term damage.
It’s no wonder why many Americans are seeking the financial “higher ground” of physical precious metals to protect their wealth or retirement as well as to be available in times of trouble. Here are three ways Americans are holding gold and silver…
Jewelry
Despite the economic downturn America and most of the world is suffering, jewelry sales continue to rise. Some Americans see it as not just a stylish accessory but also as a way to turn their cash into something more tangible that they can carry around with them. With de-dollarization in progress and the national debt skyrocketing, concerns over the U.S. Dollar are justified.
Unlike gold or silver that is kept in a safe, jewelry is easily portable and can be carried around in nearly any circumstance. In emergency situations, jewelry can be used to transfer wealth in circumstances that require bartering.
There are two drawbacks to jewelry. The cost of craftsmanship is no small measure. Compared to wholesale metals prices, gold or silver jewelry can be marked up 500% or more. The second drawback is that it’s visible. With crime rising, displaying wealth can mark someone as a target.
Metals in the Safe (and Wallet)
Keeping physical precious metals in one’s safe or vault is a practice that dates back to ancient times. Gold is mentioned in the first book of the Bible, Genesis, and can be found in the tombs of kings from long lost civilizations.
Today, keeping bars or coins of gold and silver in the safe is an easy way to have wealth that can be liquidated into currency relatively quickly. Whether we are working with the U.S. Dollar or a “digital dollar” in the future, precious metals can turn into needed cash in a hurry. This is one of the reasons central banks are so bullish about them right now as they prepare to roll out Central Bank Digital Currencies.
One of the drawbacks of keeping precious metals in a safe is that they generally stay at one’s home. Whether travelling or just going out on the town, having gold and silver in a safe won’t help in emergency situations. A new solution to this is the Prepper Bar, 62.2 grams of gold or silver that fits into a wallet. It is perforated so it can be broken apart into smaller pieces which makes it ideal when away from home and in need of bartering wealth.
Physical Precious Metals Backing Retirement Accounts
Most Americans don’t have tens of thousands of dollars that can be spent on the “wealth insurance” of precious metals. Those who want to hold gold and silver but who don’t have enough disposable money in the bank have few options.
The most popular of these options is to rollover or transfer retirement accounts into Genesis Gold IRAs. This allows a tax-deferred option for those who have their current IRA, 401(k), or government retirement accounts locked in volatile markets.
Genesis Gold Group, a faith-driven precious metals company, assists Americans by putting physical precious metals in a depository that backs their retirement. Retired Americans who take distributions from their accounts set up by Genesis can have the metals delivered to their home. Genesis is also the only company in America that can use the aforementioned Prepper Bar in their IRAs.
It behooves Americans to look into all of their options. Reach out to Genesis Gold Group today to receive their free, definitive gold guide, or visit Prepper Bar and purchase gold or silver that can act as wealth in your wallet today.
