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Protect your savings – invest in precious metals

Money or currency is a mechanism that’s been created by the governments and accepted by the people as means with which it’s possible to transfer the value of goods and services into other types of goods and services, money is the middle man here, basically. This would be the main definition of money, more or less, and in theory this type of system works fine, you create one type of goods or services, you get paid for these goods and service with money, which you then use to purchase different types of goods and services, different from the ones you produce. If someone is producing apples, if they want pears, they’re gonna have to sell apples to get pears, or maybe not if both parties would be willing to participate in direct exchange.

I said in theory this type of system is good, because in reality there are a lot of ways of how things can go wrongs very bad, very bad when it comes to the fact that the government is in the control of printing the money, well more precisely central banks. Before the seventies, money was being backed by gold, which meant that at any given moment, you could have walked up into a bank and asked for your money to be exchanged for gold. Even though you could do the same thing now, in some banks at least, you are not exchanging money for gold, you’re buying it, and if you look at the prices of gold before the seventies when money was still being backed by gold, you’ll notice that the value of gold has gone up, it’s gone up quite a lot actually.

One of the reason why the value of gold has changed so dramatically would be because of the fact that money is no longer backed by gold, which is what changed during the president Nixon’s stay in the White House. Now money is backed by the total amount of goods and services which are being produced in a country. New money is being created basically when someone needs it, they then decide to take out a loan in the bank, and then the money will be created to suite that persons needs for it, because it’s thought that the person is gonna create new goods and services into the economy, or at the very least spend the money and bring profit to other shop and factory owners by buying their products.

In times of crisis and even generally when the economy is good, newly created money doesn’t have any kind of value backing it, because as you know the total number of goods and services not only that it is not increasing, but it’s actually going down. Factories are closing their door, and the service industry is also going under, because people don’t have money to spend like they did before on the count of them not having any jobs. So in essence not only that the total number of goods and service didn’t go up, it actually remained the same, and all that newly created money has no reason why it should exist.

During our last crisis, when the banks and the insurance companies went under, the situation was even worse, it was made worse by the fact that government bailed out the fallen institutions, and it bailed them out, you’ve guessed it, by printing more money which had no coverage. What happened at times like these is that the overall value of existing currency tanked, became there’s a lot more new dollar which are being created, whose value will have to be covered by the existing value of goods and service within the economy. Money will then be worth less, since there’s more of it covering the same or even decreasing values of goods and services. What this means is that the shop owners and those who are producing goods, they they will be forced to increase the prices to cover the dwindling value of the dollar.

Gold is a great choice in situations like these because gold will not be losing its value, the value of gold will change with the, because it has a very high demand as a commodity and also because its scarce. The same thing that applies for merchandise in the convenience store goes for gold, gold dealers will be increasing the prices to protect the value of gold against inflation, so if you own gold, the value of it is gonna change not only because of the laws of supply and demand, the relations between the produced amounts of gold and the amounts which are consumed, but also because of the inflation. This makes gold and all the other precious metals a very wise thing to invest in.

If you are only keeping money in your bank account or in your “stocking” at home, you are actually losing money, because over time, prices of everything are gonna be increasing and you are gonna end up being able to buy less with the money that’s in your possession, less than what you would be able to buy normally if the prices stayed the same, if there were no inflation.

For the same reasons, it’s very important that when you do decide to liquidate your precious metals, when you decide to sell them, you need to make sure that you do that at the right time, do not sell them and then wait for a long time to spend the money. If you wait for too long, a couple of years, inflation is gonna do its bidding and you are not gonna be able to buy the same amounts of the goods and services that you would normally been able to buy. Whatever it is that you decide to do, make sure that you have at least some of your assets entangled into some kind of precious metal, and by entangled we are referring to having it invested in gold, silver, palladium or platinum, because these metals are gonna hold their value through all the economic problems that we have or may face in the future.

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Learn history through coin collecting

Coin collecting and investing is a hobby that a lot of people partake, and if you are looking for reasons why you should also joins he’s one that’s gonna cause you to get off your couch and start collecting, even if its only those coins that aren’t very valuable. US mints its own coins, like practically every other country in the world, or if a country doesn’t mint them, they at least have their own coins, made by other countries mints for them, and collecting these coins is a great way of how you can learn about them but not only them.

As you no doubt already know, each coin depicts something from the history of the country where it was created. The same thing is true for the United States coins, and if you decide to invest in them, in collecting coins, you’re gonna be learning a lot about our culture and the history that revolves around a certain precious metal coin. Precious metal coins are not the only ones which you can rely on for having historical value, because when it comes to numismatic, which coin collecting definitely is, a coin doesn’t have to be made out of precious metals in order to be considered a valuable and important.

Base metal coins will actually teach you the most, because there’s a lot more of them made, which makes errors during minting even more common. Mints have been known to make errors on coins in which a tiny flaw on a coin gives it a specific look and it makes it a lot more valuable. Usually there’s a funny story behind that mishap of minting a problematic coin, and it’s practically always connected to a certain historic event. This especially goes for coins which were specifically minted for occasions like the Independence day or in celebration of other important events of a certain country. In either case you can learn a lot by collecting these types of coins. Every coin has a story to tell, and if you collect them, you’re gonna learn about not only the coins themselves, but also about the country that stands behind the coins. Try it and see how fun it is.

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Where to Sell Gold?

There are many places where one can convert gold bullion and jewelry into cold hard cash. Below are a few ideas:

  • Pawn shop
  • Jewelry Store
  • Gold Exchange
  • Private gold buyer
  • Collector
  • Friends and Family
  • Banks (some banks do provide gold to fiat exchanges)
  • Cash For Gold Shops
  • Gold Dealers
  • Online cash-for-gold websites
  • Direct Gold Refiner
  • Casinos (some may have a set-up to exchange gold with cash)
  • Precious Metals Recovery Companies

To get the most cash for your gold, it’s best to choose a business that has a public store front. Online cash-for-gold websites are notorious for miscalculating your gold’s worth, as cashing their payout checks mean 100% acceptance. Thus, it’s in your best interest to sell the bullion or jewelry to a buyer that is willing to show you the test result. That dealer should also weight the precious metal in your presence. If there’s any discrepancies, you would have a chance to accept or reject their offer.

Keep in mind that bullion is very easy to convert to cash. You should have no problem getting instant cash when selling your gold or silver bar or coins. Jewelries may be a little more difficult to exchange as they require proper testing. Your necklace, ring, bracelet, pendant, etc. a usually recycled back into pure 24K gold; as such, there would be a refinery cost to be factored into the transaction. If you have a large quantity of this type of gold, it’s best to offload them to a refiner. Most gold buyers are middlemen so they must be given a cut of your payout, to be fair.

DragonCoin is a gold, silver, and platinum dealer / refiner. There is no middleman. Thus, you would be paid the highest when selling your bullion & jewelry to us. We pay the highest, guaranteed!

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How to Spot Fake United States Dollars

  1. Run your index finger through the bill. Feel the raised ink in certain areas such as the “20″ or “100″. Those numbers should never be solid but rather spattered. Another feature is that they should change colors when shifted to different angles.
  2. Raise the bill up to see through the “ghost image” of the president.
  3. Check to see if it has the “vertical strip” embedded inside the bill.
  4. Compare it with another bill that you know is genuine.
  5. Inspect the print quality. Real money has very sharp images.
  6. Look for tiny red and blue colored strands being randomly imbedded on the paper. Those should not look as if they’re printed on, but rather pressed on.
  7. Put the bill into “black light.” Authentic dollars will glow: $100 will be red, $50 will be yellow, $20 will be green, $10 will be orange, $5 will be blue, $1 … haven’t tested that.
  8. Lay the bill flat on a table, and run your finger nails from one end to the other. Real US currency will feel as if it has “ridges”.
  9. Use a 5X to 20X magnifying glass to check for “micro-printing.” $100 bills will say “United States of America” as a circle around President Benjamin. $20 bills will say “twenty bucks,” or something to that effect.
  10. The new dollar bills will have Federal Reserve indicators and unique eleven-digit serials that act as codes to check against the printed money database. Cops and Banks can enter these numbers into a computer to go ‘voila’ if the bill is ‘funny.’