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Crisis & Precious Metals

The COVID crisis we are experiencing is unprecedented in modern times. Aside from the human toll in fatalities, it has affected nearly every aspect of life as we know it. From government mandated lock-downs to economic disruption on a global scale, it has exposed the true frailty of the engines that power our world. The prosperity of a functioning society is not simply defined by a monetary equation. Fluctuations and elasticity are an inherent part of such a system and typically weathered in stride. But when the life fabric of life is stretched beyond the breaking point, it’s wise to prepare for a potentially unfavorable outcome.

Prepping for the Unknown

Prepping is a concept that has grown popular in recent years, even making it to mainstream television with shows like “Doomsday Preppers”, “Survivorman” and others. These illustrate the various preparations people undertake for a myriad of potentially cataclysmic scenarios, ranging from economic collapse to natural disasters to pandemics or terrorist events. While some of these narratives might seem unduly apocalyptic, such as alien invasions or asteroid impacts, recent world events have placed a far more sobering light on such endeavors.

Precious Metals in 2020

Looking at the past year, we continue to see appreciation of precious metals across the board. Within the past 12 months, gold went from a low of $1270 per ounce to $1574 per ounce currently. Silver experienced its lowest price of the past year at $14.34 per ounce to its highest of $19.57 per ounce. Platinum soared from around $785 per ounce in January of 2019 to around $1015 per ounce in January of 2020.

Precious Metals and World Crisis

The world is far from a peaceful, stable place. Geopolitical tensions seem to increase, and then subside, but most every storm has been weathered to some extent or another. Those that believe this to be as cyclical as the weather will allude to the fact that every generation has faced its own set of crises, many of which may have been worse than current events, only to have prevailed and come out stronger as a result. And although this is true, if one examines the broader story arc of where things are going, the big picture does raise some concern.

Precious Metals in 2019

Precious metals can be found in a great many forms. Gold, silver and platinum are used extensively in jewelry and also in coins from all over the world, past and present. These metals are also efficient conductors of electricity and are used in many electronic applications ranging from computers to medical equipment. Even artwork and ornamentation is no stranger to precious metals. The scarcity of these metals makes them valuable, and this value has always increased over time relative to other commodities.

Coin Collecting

Coin collecting is a hobby enjoyed by many people, young and old alike. Some focus on old coins, some on the newly minted. Others enjoy the variety of amassing coins from around the world, or a particular country of interest. Collectors range from the casual aficionado to the hardcore experts who will pay top dollar for what they seek. It can be a hobby that is easy on the checkbook or one that takes a fair level of financial investment. One thing is certain, if coins appeal to you, there is something to fit any and every budget or level of interest.

Checking In on Precious Metals

Precious metals are always on the radar at Metro Pawn & Gun. We buy, sell, pawn and provide loans for all manner of precious metals, ranging from jewelry to coins to bullion. Investors buy physical gold, silver, platinum, and other precious metals as an alternative asset and to protect against inflation and financial turmoil. Owning precious metals is a great way to diversify an investment portfolio because of its historical value and viability as compared to other less tangible assets.

Buying and Selling Coins

Coin collecting is both a fun hobby and one that can be quite lucrative if you know what you’re doing. Some people may be avid collectors while others may have just inherited a coin collection from a relative. Perhaps you are getting your kids interested in coin collecting, or maybe you have just such a collection from when you were a kid. Whatever the case, these coins may be worth some money. If you are interested in pawning or selling your coins, or if you are looking for rare coins to add to your portfolio, Metro Pawn & Gun is a terrific place to visit.

Gold As An Investment

For those of you who follow the gold market, remember back to January of 2000? The price of gold was a mere $288 per ounce! If you happened to be investing in gold at that point in time, looking at your portfolio in October of this year will be a delightful experience. Currently at $1280 per ounce, the value of your investment has over quadrupled in 17 years! There aren’t many other investments that can compare.

What’s HOT and what’s NOT….

Some things in the ‘general market of everything’ hold greater value and appeal than others. Technologies change, fads come and go, and styles evolve to reflect the consumers they target. There are also certain ‘fixed points’ in these markets – goods that are equally desirable, if not more so, at any given time.

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