Monsoon—or just a rainstorm?

Proactive purchases in gold and silver (that'll help you prepare for everyday challenges too)

“Control what you can control.” It’s a mantra all of us should adopt, especially as the stock market fluctuates and another presidential election year is in full swing (and who knows what will come with the sway). It’s true that buying gold and silver is a proactive measure that can serve us well, no matter what the economy is doing.

Let’s be honest: The kind of financial difficulty we face won’t likely be a catastrophe. There’s a better chance inflation will continue to cramp your style. You’ll realize you’re not quite prepared for retirement. Or you’ll find yourself without an emergency fund. These are the realist’s reasons for stacking precious metals now. 

Whether you buy gold and silver to prepare for a major or minor headaches, here are four smart assets to start stacking. 

1. Silver or gold bars and rounds. There’s a reason the phrase “the gold standard” has become a cliché. Gold is and has been recognized as the ultimate precious metal for centuries. While the entry point isn’t low—gold was trading at $2,510 per ounce in August—it will hang onto its value and can be traded in any country because it’s not a country-specific currency. In other words, gold is valuable everywhere.

Silver, on the other hand, is easier to build over time because it costs less. As of this printing, silver is trading at $29.89 per ounce. That makes it simple to start stocking up now, even if money is tight. Trade-in is also easy with virtually any dealer because silver simply has a sterling reputation. According to CBS News, “Silver bars and coins from reputable sovereign and private mints track very closely to the prevailing spot silver price, allowing efficient entry and exit points.” 

However, because silver is worth less, its trading value is more volatile than that of gold—you’re going to see a higher number of gains and losses over time—but keep in mind that buying silver as a commodity is a long game. According to Forbes advisor Benjamin Curry, “Silver is only an effective inflation hedge over extremely long periods of time, measured in decades or centuries.”

Whether you choose gold or silver, remember that buying bars gives you the greatest value since the price per gram is less than with coins. For a long-term investor, bars get you a bigger bang for your buck.

2. Fractional denomination coins. Tipping the scales at less than 1 oz, these coins have ultimate purchasing power should cash be low or banks go down. Tightening up your 72-hour kits? Add a pouch full of these because small gold and silver coins can buy what you need when paper money loses its value. 

The good news is that getting started with fractional denominations is simple using soundmoney. 7k members can purchase precious metals with any amount of money they want, all the way down to one dollar. With no minimums or maximums, soundmoney makes it easy to own what you like and in the fractional amounts you want. 

3. Silver and gold eagles. The most obvious reason for buying eagles is simple: All sovereign nations recognize their value. The American Gold Eagle coin is currently valued at $2,513. These coins are a straightforward way for a new collector to begin their precious-metals journey. Other reliable options include the American Silver Eagle, the U.S.A.’s official silver bullion coin, and Canada’s Silver Maple Leaf. These 1-oz coins are 99.9 percent pure silver.

4. MS70 perfect coins. “MS” stands for “mint state,” meaning one of the coin-grading organizations like NGC has found MS70 coins to be perfect—zero flaws and 100 percent precious metals. That perfection keeps demand up, which is ideal for selling down the road. And the selling process is made easier with Sound Money Wallet. 

With these forms of precious metals added to your stockpile, now’s the time to figure out what to do with them. Saving gold and silver in different places is a solid strategy. Don’t forget that 72-hour kit, but having coins or bars in a home safe is a great idea too; here, they won’t be easy to spend, but you’ll have access to them. A larger chunk in SoundMoney makes it easy to liquidate should an emergency arise. But in the end, the goal is to make precious metals work for you—no matter the size of the storm.

Coming soon! Vaultmax is being modified to provide a way to store graded collectibles. The 7k executive team announced this at convention, and the final touches are being installed now. More information ahead!