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BUY GOLD/SILVER LOCAL THIS CHRISTMAS SEASON

BUYING GOLD/SILVER, GOLD & SILVER, GOLD AND MONEY, SELLING GOLD/SILVER   No comments yet

This Christmas season is panning out to be a boon for online shopping.  Holiday season shopping numbers are showing yet another huge increase in online shopping year over year. E-commerce has created a perfect shopping situation all without leaving the comfort of home, but.  What might surprise you is even with this trend we don’t recommend strictly buying gold or silver online, especially if new to gold and silver.  Today we’ll look at a good reason to buy gold and silver locally.


Last month we ran a post how buying gold & silver will change in the year 2012 and beyond (read it here). We mentioned a worldwide trend of jewelry stores slowly transitioning from selling artistic creations of metal to bars, rounds, and coins of value.  Foreseeing this gold/silver trend is easy considering many jewelry stores today now offer cash for scrap gold.  Progressing to selling investment type gold and silver, low premium gold/silver, seems natural and resourceful to this writer.  This should be good news to most readers since online shopping for gold/silver does have its disadvantages (I personally use both online and brick & mortar).

IS YOUR NEXT BANK A COIN SHOP?

You don’t need me tell you the banking industry is slowly becoming another extension of government. For those shaking heads in disagreement, imagine how many of today’s banks still financially strong, even solvent, if unsupported by bailout or Federal Reserve Bank loans.  Boarded up banks would be as common as boarded up businesses if not for government help by way of more debt & deficits.  The strength of your bank is as strong as the one supporting it.  The one supporting it is doing so by using new borrowed money to pay interest on old debt.  Does this sound like strong economic principles for long-term prosperity to you?

We can disagree on gold or silver, rounds or bullion, but we must agree the old way of saving or storing money is in serious jeopardy. Gold is and silver is becoming a great source for saving but must convert to cash if we need to pay a bill or buy something.  Sure a growing trend is to barter gold to another asset but not all commerce will work this way anytime soon.  I’m not sure what my bank would say if I pulled a gold coin from one of their deposit boxes and asked to trade it for cash?  I’m guessing they would have no idea what it’s worth but my local coin shop sure does.

You need, we all need, local coin shops or brick & mortar stores to trade precious metal to cash. The only way for these businesses to develop and prosper is for those trading gold and silver trading local.  There is something to be said for a trading situation that allows a gold holder to walk out with cash/check in less than five minutes.  We truly believe coin shops and other brick and mortar stores will become financial institutions in and of themselves. We must continue to support local gold/silver trade especially in times like today.

WHAT ABOUT YOU?

The news is full of jobless recovery talk and unemployment. If this describes you please listen closely.  Your community will need a place to trade physical gold and silver if the precious metal trend continues.  The only way it won’t continue is if metal regulation or an economic correction hit the scene first (we doubt the later will happen anytime soon).  This leaves us asking if you’re a good candidate for running a gold/silver brick and mortar store.  Several things should be part of your decision long before.  Security, cash reserves, inventory, and local market, should all be considered.  Make no mistake about it, coin shops are prospering and we feel they will continue to do so.

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