There is a certain, strange stigma attached to precious metal investment – particularly if you are investing in gold or silver. The associations are typically with paranoid preppers, boarding their windows and stockpiling canned goods in expectation of some great cataclysm. At Home Stored Gold IRA, we know that the reasons for investing in gold or silver are far less melodramatic, and are far more logical, than many tend to assume. We take a look at some of the most common myths about precious metal investment.
1. Precious Metal Investment Is For Paranoid Survivalists
Addressing the most pernicious and damaging myth first – many people associate investing in gold or silver with someone convinced the end is nigh, likely stashing it in an underground bunker in their backyard. With the increased exposure of the stereotypical paranoid doomsayer, mainly thanks to TV and the internet, and popular culture in general, it’s become easier than ever to write off anyone who stockpiles in case of an emergency.
The truth here is that the majority of precious metal investments are made in preparation for a very different type of disaster – the financial kind. We have seen, time and again, that global and domestic economical systems are fragile, prone to major fluctuations and outright crashes.
Unsure, unusual, or unreliable economies can result from a slew of factors, from changes in technology and culture to large-scale conflict, and your traditional IRA or savings can suddenly be worthless in the event of a major crash. Investing in something like gold ensures you still have options should the worst happen.
2. Precious Metal Investment is Only Good in an Emergency
A deeper look into the idea that investing in gold or silver is only for survivalists, we find the idea that it is only worth investing in precious metals to prepare for a financial disaster. While this is a benefit, it isn’t the only benefit.
In a previous blog entry, we have addressed the long-lasting nature of gold – in it’s aesthetic appearance, strength, and durability. These factors all contribute to the value of gold, and also apply to silver – and these are factors that won’t change. This means that, while we, hopefully, may never have a need to use gold as a fall-back option, it also offers financial security for your family and the generations to come.
3. Precious Metals Are Prone to Theft
A common question from those considering precious metal investment is how safe it is to store – either personally or at a specific location – physical gold or silver. Another pervasive belief is that, as it’s physical and tangible, precious metal is also easier to steal.
In truth, if you are storing physical precious metals at home, it is no more or less secure than any other valuables, as long as you take steps to minimize the risk. Limit the number of people you tell about keeping gold or silver in your home, keep them in a safe and secure place, and treat your material assets with the same confidentially and respect that you would the PIN number for your debit card.
If you decide to invest in a gold IRA with Home Stored Gold IRA, then you can be assured that the security of your investment and finances are at the top of our priority list.
The Reality of Precious Metal Investment
While it may be unlikely that some of the negative associations with precious metal investment and storing gold or silver will be dispelled completely, you can be assured that we know the real value of buying gold, gold IRAs, and silver investments. Planning for the future is important, and you should always be prepared – for yourself, for your family, and for future generations. If you are looking into investing in gold or silver, contact Home Stored Gold IRA today.