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This past week it was discovered that one of the senators from New Jersey was indicted on bribery charges, but what was interesting about this was that part of the bribery was paid in gold bars. As the pictures made the rounds, there were many reactions to this– none so funny as the line delivered by US House Representative Matt Gaetz, as both a comment about Menendez and about the state of the economy under the Biden administration.
As inflation increases, the cost of precious metals does rise, and it’s never the wrong time to diversify your assets into something that holds value. Personally, I invest in silver– it looks nice, it has a lower cost of entry and in those ways, I find it more practical. But I have to admit that, with the way things are going, gold is starting to be more attractive.
Now, any time you purchase something that has a worth– be it a precious metal, land, or baseball cards, don’t assume that the value you see on the screen is what you have. You only have that money if you can sell it, and precious metal and baseball cards aren’t out there earning you interest or are being a profitable asset.
If you are looking to get into buying gold, your local Cosco might just be the place to find it. They have 1-ounce gold bars for sale, but they say that they disappear within hours of it showing up at the store and that there’s a limit of two per customer. There are other places online you can look for it. Let me know what you think of diversifying into precious metals!
