Delta Digital News Service
Cameron Bandy | Contributor
JONESBORO, Ark – Gold and silver are valuable investments to fall back on if the dollar depreciates, a catastrophic event occurs or the economy collapses.
Gold and silver give the buyer a tangible item used for trades or sold for needed products.
Northeast Arkansas Coin Company, managed by Ryan Poole, sells rare coins, paper money and artifacts. Poole helps people invest and educate potential buyers about gold and silver and their value.
Poole said, “Buying gold and silver is the safest investment you can have. It’s tangible. Stocks can crash at any minute; the dollar could debunk at any minute and if your dollar debunks then we will have a new currency that will take the dollar’s place.”
Gold provides an alternative to the dollar, a tangible asset and your best bet against the dollar.
Poole said, “Yes you can make money, break even, or lose money but the risk is not there. You will never lose 100% of your money.”
Gold holds wealth without the government interfering constantly. Gold is a risk-free investment and a hedge against inflation. The smartest investment is gold because at any given time you need money, you can go to any fair marketplace and get it.
Alex Mitchell, an employee at Memphis Gold and Diamond Buyers in Memphis, Tennessee primarily handles liquidation. Buyers are more comfortable with buying gold online and sending it to their house, so the field is becoming smaller and consolidated.
Mitchell said, “The main thing about buying gold would be it is still a tier-one asset at any bank and anybody and everywhere will know what an ounce of gold is especially overseas. It is still considered money where cash isn’t a tier-one asset like treasures and gold.”
Having gold is like a savings account with complete control. Cash is king in many scenarios.
Mitchell said, “You want to be diversified, and holding cash doesn’t make you any money. Cash is becoming less valuable every day. The truth is, the more you buy gold now, the less money you have to spend in the short term.”
Having gold benefits the buyer and keeps the government honest. Every country recognizes gold and worries about pricing. Having an ounce of gold can be traded for something useful which could come in handy. When you have gold, then you’re the bank. Every nation recognizes gold in value which makes it a good investment.
Sam Tuck, a recent buyer, always had an interest in gold since he was little and collected coins as a kid. Gold and silver won’t lose their value over time like a tradable commodity and it’s a good fallback.
Tuck said, “Only about 20% of my portfolio has gold and silver in it just to fall back in case the dollar goes into the tank, then I’ll have something to barter or trade with.”
Gold and silver are safe investments because of the no risk factor. Precious metals are going to hold value. Tuck encourages people to buy gold and silver to trade as a currency.
Investors see gold and silver security as stock markets become turbulent. Article may or may not reflect the views of KLEK 102.5 FM or The Voice of Arkansas Minority Advocacy Council