Does gold still represent a good investment? If so, should you buy gold coins or bars? These are some of the questions that were answered during a recent podcast with a former U.S. Mint Director, Philip Diehl.
Based on the interview with Mr. Diehl, the following conclusion can be reached: Gold was, is, and will be an attractive investment.
It’s been a storage of value since the rise of civilizations. It continues to be in limited supply, it’s easy to store, and is considered to be money. Despite short-term fluctuations, it’s been a hedge against inflation for centuries. Gold doesn’t spoil, it doesn’t depreciate, and can only be mined- it can’t be produced.
There are some other factors which make it attractive to buy gold right now. One is that its price is about 45% off from all-time high of few years ago. Yet, the governments around the world continue to print paper money, run tremendous budget deficits, while political and economic instability around the world rises.
What’s more, as Mr. Diehl expects, the dollar will eventually lose value, potentially spiking up the price of gold.
Many gold investors are not sure whether to buy gold coins or bars. According to Mr. Diehl, it’s better to buy US-government issued gold coins, such as the American Eagles, as these are guaranteed by the government when it comes to their purity. And these words come from a former Director at U.S. Mint.
In addition to running U.S. Mint, Philip Diehl had been involved with the U.S. Treasury and the Senate. While at U.S. Mint, the first-ever American government-backed platinum coin had been issued. He also created the 50 States Quarters program.
Presently, he runs U.S. Money Reserve, a top seller of gold, silver, and platinum coins around the world. The company has clients on all the continents- including buyers in Antarctica.
While under Mr. Diehl’s leadership, the company embarked on a six-year customer service improvement program, and now offers top quality services to the customers, including precious metals IRA accounts to the United States-based investor.