Facing an uncertain economic future due to COVID-19, many are turning to precious metals like gold bullion and silver. While rare, their value remains unaffected by inflation, they are a safe investment, and they can bolster IRA plans. Whether it is to supplement your portfolio or to have a source of wealth set aside for an emergency, precious metals can provide the peace of mind you need.

What Are the Advantages of Investing in Precious Metals?

1. Increased Protection

Silver and gold bullion is not used as a form of currency anymore, but they are a form of physical wealth. In times of inflation, the value of currency decreases, but the purchasing power of precious metals remain stable. 

Economic downturns and geopolitical unrest will affect the value of investments, along with your quality of life. Investing in gold bullion and precious metals provide a defense. Out of fear in the devaluing of currency during these events, people seek the stability of gold. Given its scarcity, the increased demand causes the price and value of the precious metal to rise substantially. Having a personal supply will allow investors to maintain or even increase their economic standing during a crisis. 

The metals are also a tangible asset, not digital. Digital currency can be lost by accident or taken intentionally by cybercriminals. Precious metals can be stored in secure depository storage without worrying.   

2. Intrinsic Value

Governments can print all the paper currency they want, causing economic instability. A dollar will not get you as far as it may have the year before, depending on events.

However, precious metals are different. They have an inherent value that is based on their scarcity and industrial uses. Gold’s intrinsic value stems from its applications as jewelry and in the manufacturing of electronics. Silver is also used in the production of electronics and circuitry because it is a powerful conductor. 

3. IRA Eligibility

Precious metals can be used in an Individual Retirement Account (IRA). First, set up a self-directed IRA. You will choose the investments purchased with precious metals with the help of a third-party custodian. 

The government accepts precious metals with purity levels of 99.5% for gold and 99.9% for silver. Once the self-directed IRA and the purity ratings are established, a trustee must take physical custody of the precious metals. After that, the Internal Revenue Service (IRS) will allow silver and gold bullion to be added to the IRA. 

The right investment can provide you with financial security and a cushion if you ever need to sell it. For nearly 50 years, and with over 100 years of combined sales experience, Coins Plus has a stock of gold bullion and precious metals that most dealers lack. One of their staff members contributes to Redbook and Bluebook, which are leading pricing guides. They use this insight to provide the fairest rates to their customers throughout Cincinnati, OH. Visit them online to view some of their collection. To speak with them directly, call (513) 621-1996.