How to make money for kids

How to make money for Kids. Are you trying to save money? What the banks won’t tell you.

How to make money for kids – when your kids earn their money, teach them how to invest. And for us older kids as well who want to get a foot in the door, this is a fun and exciting option that could be of benefit for the rest of your lives. Do you want to save money for a deposit for a house, or maybe put a bit extra away for a rainy day?
Lets have a look at an option for you that can grab your imagination and also can benefit the whole family or the generations to come.One of the hardest things to do today is to save money to buy a house. So for a cheap house you could be looking at a deposit of AUD$40,000 which can buy you a house for about $400,000. This is a lot of money that you need to have lying around or in a savings account.
For our American readers, you will need to find out what regulations you have for the region you live in, but at the end of the day, you will need to get your hands on a substantial amount of cash before the banks will even look at you. For some people, we might get a helping hand from family members, or some kind of financial windfall.
But for the rest of us, the daunting task of trying to save this kind of money seems to be out of reach for a lot of people. Now is the opportunity to teach your kids about smart saving and safe investing. Let’s set ourselves up for the near future, or start setting up our kids’ future right now.
Let me give you a life hack that will bring value to your money and a saving strategy for the rest of your life. I wish I knew about this earlier in my life, but with a lot of things, saving money was not at the top of my list. What I have to share with you is easy, simple and safe.

Buy Gold and Silver

After you become frugal with 100 and 1 ways on how to save money in your lifestyle, or when it’s time to allocate your kids’ pocket money for the week/month, the question is, what is the best way to save that cash money?
To answer that question, first you have to understand a little about cash money. The thing with cash money

or money in the bank, is that it devalues over time – it is affected by inflation. Inflation affects everything in our daily lives – we call it the rising cost of living. What this does, is it devalues cash money, so if you have money sitting in the bank as savings, you will see this erode your savings over time.
If you are looking at a savings plan of ten years to save a deposit for a house, this may have a significant impact on your hard earned money. The best advice I can give you, and the banks don’t like it …… is buy gold/silver.

Buying Gold is too Hard and it’s not for me!

In todays current circumstances, many Gold and precious metal dealers all have online shopping sites, and have been set up in such a way , that it is very simple to use. It is just as easy as using EBay and online banking. And knowing what to buy and when to buy is simple; if you have some money set aside for savings, use that money to buy precious metals-Gold or Silver. Easy.

What is the advantage of buying gold?

Gold does not devalue in the way that cash money devalues. This means that if you buy gold, it is relatively secure against devaluation over time. So the money spent on buying gold will remain – and here is the kicker, on the most part the price of gold rises over time.
So when you buy-in today, and you start a savings plan, you will find that you have an investment that is

working for you, and you will be gaining money instead of losing money over time.If you can stick to a savings plan, you will find that you will be able to achieve your goals quicker by buying gold, because it will on the most part increase in value over time.
This kind of accumulating wealth is also considered safer, with many fears in the marketplace about how our financial institutions operate, and the real security of our money in the bank. Many people were hurt in the GFC when a number of banks and institutions collapsed, and along with it, the life savings, retirement funds and hopes and dreams of many.
Today, as I write this article, the whole world is holding their breath as we see the “Brexit” vote win. There have been massive losses on the stock market and the British pound has taken a massive dive. And the real impact is yet to be seen for the everyday people like you and me. Is the day coming for us when our currency will collapse and we are all left bewildered at our financial losses?
With the growth of India and China and the prospect that they will become the up and coming world leaders within the next generation, all precious metals are anticipated to increase in value over the long term as they place an ever increasing demand on all our resources. And on the hit list is copper, so keep that in mind if one of your dealers has copper on offer – you may want to consider buying some copper bullion while it is cheap.
I may talk about copper in another article – this is possibly something that will be long term.

Added bonus to buying gold

When you buy gold, you are now creating a “wall” between you and your money. So at those times when you need to get fast cash for an unexpected bill or that awesome party on the weekend, you now have a barrier in front of you before you can get your hands on your savings. This will help you in the long run, so for now you will need to get more creative with your budgeting. You will start making other allowances for getting that bit of extra cash to pay for the electricity bill.
You will be able to achieve your goals quicker this way, and it will help you to be more diligent and disciplined when it comes to saving. It may be a hassle when you can’t get your hands on your money quickly, but that’s the whole idea. It will pay off when you go to buy your house with the money you have saved.With that being said, you will always be in control of your assets.
You will be able to sell your gold at any time to access cash money if you really need to, however this will involve a process ”wall” between you and your money. So, if you do need cash for an emergency, you can get access – but it may take a few days.

Do I need to study the Market?

No you don’t. All you have to do is recognise that Gold is inherently valuable. We can keep this as simple as you like. If your plan is to save money, then the best way to protect it is to buy gold. The market will shift and change everyday, but when you look at gold, it has a trend of increasing in value over time.
If you can get your head around this, then you will find that this is enough to understand that investing in gold is a solid and safe choice for beginners.Now there have been times when the value of gold has dropped, and there have been losses on investments of gold.
But when you look at the bigger picture and the complete history of the value of gold, you will see significant increases over time. Just today, I saw gold increase by AUD$68/oz, because of the “Brexit”. That is a huge jump in price, so I would expect that in the next month or so the price will come down a little.
So there will always be fluctuations in the market that you may need to be mindful of when you eventually want to cash-in, but by no means do you need to be an expert or have inside knowledge of trading. Unlike other investment options, gold has an actual value. Gold is Gold, it is not numbers on paper nor does it disappear because a bank has collapsed.

I don’t have a lot of money – how can I buy gold?

Most of us are everyday people earning an everyday income, so by the time we pay our way through life for the week, there is not a lot left over to save. But when it comes to buying gold as a savings strategy, you can start with as little as AUD$70.00. This is currently the price of a 1g bar of gold. So if you can currently save or have more than one hundred dollars that you’re willing to save every week or fortnight, you can implement this strategy today.
This strategy becomes even more affordable when you look at Silver. Silver is known as poor man’s gold. Although it is a lot cheaper than gold, it still holds its own value and behaves in the marketplace in the same way as gold – a safe option.
We will look at some gold/silver dealers and you will see that they are very affordable options when it comes to buying gold or silver. You can buy silver coins and bars for as little as AUD$60 – very affordable.

If I buy gold, how do I keep it safe?

When you buy gold online, you will have a couple of options. One of the options is to have the gold delivered to your door. This means you will be able to physically hold on to your gold or silver. However, you will be more out of pocket this way as you will usually have to pay a delivery fee.
Some dealers will offer free delivery if you buy large enough quantities – for example one dealer will

include free delivery if you buy more than $400 for one purchase.
This may work for you, if you have this much to outlay every time. If you decide to physically hold onto your gold, this can be an advantage as it now becomes harder for you to spend/access your savings, because now you have added an extra step into turning your gold into cash.
Now you can fall in love with that wonderful gold bar in your hand and be amazed that you now own gold in it’s purest form. You will then also be able to show your kids that gold or silver in it’s purest form is valuable and that it has an allure to it that is better than holding onto cash.
There are also many options to buying gold and silver which we will talk about later in this article.Once you have received delivery of the gold, you will also need to figure out how you are going to store it in your house and keep it safe. This is up to you. How many people are going to know you have gold in the house? Do you want to use a safe? Do you have a safety deposit box? Are you going to be sneaky and put it in a cereal box in the back of the pantry? Only you know your house and what is going to be appropriate for your situation.
Another option when buying gold is to “Buy and Store”, which means that for a small fee the Bullion dealers will transfer your physical gold to their vault for safe storage. It will be protected with their state of the art technology, security guards, walls, razor wire and insurance. Although you may never see your gold, it will still be a physical investment, which means that it will always be there, and upon request can be sent to you.
Because the gold is physical and not numbers on a computer or piece of paper, you have now protected your savings from a crash, collapse and/or inflation. The best part is, it will increase in value along with inflation.

How do I start buying gold?

To start buying gold, the first thing you need to do is find a trusted gold dealer. Through my investigations and research, I have found a few dealers that I like, and depending on where you live and what you are comfortable with you can choose where you would like to start. I like these dealers because they are trusted in the marketplace and they are safe to deal with.
I also like the variety of products that they sell. I find that having options on what I buy can keep me interested in buying gold and silver, especially if I am holding it at home instead of keeping it in storage at the mint. Below is a selection of dealers that will benefit you, and depending on where you live, I suggest the dealer that is in your country would be the easiest and will give you a better piece of mind

giving you something that is close at hand and also knowing your own countries rules and regulations about your particular rights as a customer.
However if you are a little more savvy, and have decided that you like one dealer over another, you can go right ahead and set up a dealer in another country. You may find advantages in setting up an account in Singapore for tax reasons or prefer the Perth Mint because of it’s solid foundation and security as well as it being guaranteed by the WA government.
There are a few things you will need to set up an account. You will need the standard forms of identification along with a passport and maybe a bank statement. So far I have found the BullionStar the easiest to set up an account with.

My recommendation for American readers:

Silver Gold Bull – Your Trusted Bullion DealerSilver & Gold, Buy Now!

My recommendation for Australian readers:

The Perth Mint is going to be your best choice. They offer a wonderful range of products and flexibility of transferring and storing your gold. They have one of the best storage facilities in the world – it is secure and as it is also guaranteed by the WA government, this will offer you more confidence that your investment is safe.
The Perth Mint also welcomes American investors/customers. They are a global player in precious metals trading and are widely trusted among other dealers. The Perth Mint is a multi-faceted precious metals business with a long history and excellent reputation for innovation, quality and service. They offer “Buy and Deliver”, “Buy and Store” and you can also walk in off the street, buy and walk out if you choose.

For the adventurous investor;

Lets look at Singapore – the I love the service and products that they have to offer. If you want to start a collection with a variety of options to choose from, this is the place to shop. It is hard to find a dealer that has as many gold and silver products available than these guys.
This is a one-stop shop for all things gold and silver. You need to check out the range of gold bars and coins that are available, and some of them are stunning, like the Heraeus Kinebar Gold Bar.
They also boast Tax-Free. There is no tax for bullion whatsoever in Singapore, ie. no GST/VAT/Sales tax and no capital gains tax. Did you get that?? NO capital gains tax – wow!
For some of you, that may be a real benefit if you need to save for the next ten years for a house deposit, or if you want to start a savings fund for your children. Singapore is politically secure with solid “property ownership rights protection”.Which means that what you buy, belongs to you, there are no funny Laws that will circumvent your investment in this Country. They have set up Political and Business Laws to encourage outside investors to use Singapore as a safe place to invest. click for BullionStar

Singapore always ranks at the top of the list for conducting business globally, measuring how easy and straight forward it is to do business with other countries. While governments in the EU and the USA try to curb investments into precious metals by introducing legislation that makes
it difficult to purchase them, the government of Singapore is dedicated to transform Singapore into a trading hub for precious metals.
It has bee
n said “Singapore is simply the best country in the world to buy and store bullion.”
Although this may be true, this option may not be appealing or suit your needs.


Should I Buy Bullion or Coins?

This choice comes down to a number of different factors. Ultimately you will decide for yourself what will be the best option for you and your savings plan. As for me, this is what I am doing – I have bought a number of small pieces of gold and silver bullion and coins that I have in my home – they are really just token gestures of what I really want to own.
But I get to look at them, hold them, and show them to my friends and family. Occasionally I may want to buy a new coin for my collection because I like it, and at some stage I will be buying the Heraeus Kinebar Gold Bar because it is simply outstanding.
However, for my “Buy and Store” option (ie. my serious account), I am buying gold/silver cast bars. The cast bars are cheaper than the gold coins and minted bullion – this is because it has a lower production cost. So if you are going to buy and store, buying cast bars is the best way to leverage your money. This will give you the best result for your savings at the end of the day.To put it simply, buy the minted gold/silver coins and bars to store at home, and buy the cast bars for the buy and store option.
I find that if you have something around the house, you can share the experience with your kids, and you then have an opportunity to teach them a bit about basic investment and saving. You may also want to implement a reward/saving strategy with your kids by letting them have and hold some gold/silver products.
However, if you are the kind of person that wants to hang onto your entire collection, then of course that

choice is up to you. If you are going to hold onto all of your purchases, there are some factors to consider.The best value for money is buying the large cast bar, but if you need money quickly, it will be a bit tricky to turn that large bar into cash.
When you do cash in the bar, you are back to having a large sum of cash, and there will be an overall cost to you in turning that bar back into cash and then the excess cash back into gold.So your buying strategy will be different if you want to keep your collection at home.
You may want to consider keeping smaller weights of gold, as they are easier to sell off, while keeping the rest of your stack secure. You may even get to the point, that when you are secure in enough smaller pieces, then transition into the larger bars and coins. And even the cast bar, if you don’t mind having the ugly duckling kicking around.

Gold vs Silver- what’s better?

Well, that’s a tough one – when you look at the history of silver prices over the past 50 years, it hasn’t been a pretty one. Silver had an all time high in 1980, at $107/ounce, and then it took a dive for the next 23 years, and ended up at $5.74/ounce.
Now that is a serious hit. It is now sitting at around $18/ounce (27 June 2016). There was an apparent over-supply of silver in 1980, and investors simply stopped buying. And for the next 20 years they went through a market correction.
But today we live in a completely different world. There are thousands of industrial uses for silver and there is an increasing number of patents being processed that require silver to be used in the heart of each product’s construction.
Almost all electronics are configured with silver. It is a very efficient metal, m

eaning that in many of it’s electronic applications, it is used in only small amounts.Because it is used in such tiny quantities, it is not important to ever recycle any of this silver.
Because silver costs so little, it is not cost effective to recycle at this stage. We simply throw it away. So this silver is being used up in tiny amounts, but in millions and millions of user products, over a span of decades.Now in an ever-increasing world of consumerism, we are throwing away more and more silver. Also, bubbling away in the background is China and India, and as they become more and more hungry for this world’s resources, you can only assume that this will put pressure on all commodities such as gold and silver.
There are many people in the market place now speculating that silver will make a grand come back, and be a stock market brut just like gold. But my position on this is, I just don’t know – but with all the research I have done, I will speculate that silver will do well. There is enough pressure from different market factors, and when it is said and done, and the world keeps turning, I believe that silver will be a good friend to us.
So, to answer the Question, Buy both……. if you can afford Gold , buy Gold and Silver, but if your budget for now can only afford Silver, buy Silver. Both Metals are trending very similar in the Market, and you will do well

The best part about Silver

It’s cheap. It’s cheap today. It’s cheap today and possibly tomorrow. Silver is known as the poor man’s gold. So this is exciting news for us, because we have an opportunity to jump on board and grab some silver. You will have an opportunity to really get your older kids involved with dealing in silver, buying it, bringing it home to hold in your hands, play with it and get attached to its endless allure that it has had on the generations before us.
Now more than ever you have an open door in front of you to buy silver as an investment/savings and watch it grow.The price of silver today is not expensive, so to see it crash

over the next 20 years is very unlikely. Where is it going to crash to – its already low.
We are now seeing a lot of people starting to invest in silver for their personal collection. This is usually in addition to their gold collection. So go ahead and diversify your savings account between gold and silver.I like to have a minted gold bar that I leave in its protective case and then have a silver bar that I can handle and play with.
The same can be done with most minted coins – you can buy the gold coin, and then buy the same coin in silver at a fraction of the cost. So that way you can have your kids play with the silver coin, touch it, play with it, and even bury it in the backyard. It won’t matter that much today because it is cheap today.
BUT, we are all waiting for tomorrow, or will it be the day after when something happens, eg. the market gets nervous, another country leaves the EU, another banking scandal, another country goes bankrupt, or a natural disaster that does something to shake the whole world we live in.
I don’t know what’s going to happen, but this I know, something is going to happen. And when it does, you want to be in a position to benefit from it, secure yourself and your family’s savings from whatever is around the corner.
Don’t get me wrong – I am not a doomsday preacher, but this is the kind of world we live in, and it has always been a little volatile. So now is your chance to get ahead of the game, join the minority of the wealth creators and prepare yourself.

I heard that Gold is a bad investment!

I have heard and read articles that gold is a bad investment. Now, when you read an article like this, you have to understand, that most of these people are “market” analysts, and they have an agenda and an outlook that would favour another stock on the market.
I am not a stock market analyst, and I want to keep my life simple, plus I just don’t have time to try and understand what the best shares are to buy today. All I know is, that for centuries and even before Christ, that the history and value of gold has increased and is a stable and precious metal. I am well aware that if you had the smarts, you could do better in the shares market.
But let’s be real here – the share market is a volatile place and it can be made up of shifting sands. If you don’t know what you are doing, you will get swallowed up and buried. There still seems to be some dodgy work going on down there at Wall Street, and it seems the bull is still not ready to be tamed.

There are some naysayers in the market right now, claiming that gold is in a price bubble and it will burst, leaving all gold holders/investors to lose on there investment.
But on the very same website, another analyst writes how gold is going to be stockpiled by investors because it is going to have some lasting growth and is a solid investment in this volatile market.

To add to that, there is an increase of chatter about the rise of India and China, and their demand on all precious metals.So at the end of the day, I am not an expert and I don’t have a crystal ball, but what I do know is this, Gold is Gold, and somebody somewhere wants it. And yes, the price of gold can go up and down, but on the most part, the trend is up, and it’s always up.
The worst-case scenario is, the price of gold goes down and you might have to sit on it for a while longer to get your money back. With that in mind, the chances are you will still do better with gold or silver than if you were holding cash.

Can I buy gold on Ebay?

Ebay is a wonderful platform to buy and trade. I am sure that most of us have had positive purchases from Ebay, but I am sure that a lot of our purchases were for things that didn’t require security or the absolute necessity for authenticity.
There are people trading Gold and Silver on EBay, and the sharks are circling around them. We are seeing some countries that are masters at counterfeiting – they are producing all sorts of counterfeit products. Everything from sports clothing, watches, jewelry, handbags, medication, auto parts and also gold-like products.
They have been very clever with their copies and they have been able to fool some major collectors and dealers in the market place.The thing with buying gold is that you want to leave it in it’s protective case. So unless you want to drill a hole in the middle of your gold bar, you may never know that you bought a fake until you go to sell it.
The best advice is to buy from a trusted dealer, and yes, you may pay a little extra, but you will be getting what you paid for and your investment will be protected.

I have seen silver coins for sale on TV.

The worst investment you can make is buying mint coins or commemorative coins from the TV shopping advertisements. These coins have very little value to them at all, and you will be disappointed when you try to cash them in, that there is no real value there.
Sure, they look nice and are presented in fancy packaging, but don’t be fooled buy the TV spruikers – they are selling coins at a premium cost. If you shop around, you could find the same coin at a fraction of the cost. It has been noted that the Uncirculated Morgan dollars seen on some TV shopping networks are being sold for $300 each, when they can be purchased from a normal coin dealer for $40.
Never buy coins from TV shopping shows! I understand that we can all get tantalized by what some people are selling, but I would like to make a smart decision and look at real gold and silver dealers, and that way you are going to get what you pay for and your future investment will be secure.
Another promoter you need to look out for is a dealer that makes them self to look like a National Mint. However, they are actually a private company using misleading techniques and poor products to make huge profits.
The U.S. Mint has issued warnings about this company’s misleading advertisements in the past. They have a tendency to overstate or simply mislead you into thinking that their coins have a meaningful amount of precious metals in them, when they do not.
The U.S Mint has tried to distance itself with the National Collector’s Mint, and has no affiliation with it. Their coins have little or no value at all for its precious metal or collection value. I also had a look at their prices, and they are very expensive. Whereas, with your genuine dealers, they tend to sell just over the actual market price.

How do I get my kids involved?

  1. There are number of methods you can implement to get your kids involved with savings.
    Pocket (physical) money
    Some of you may have plans for your kids to work for their pocket money and that in my opinion is a good thing, as we need to learn that receiving an income is our reward for time spent being helpful and productive.

    My strategy would be to set a standard for the pocket money they receive but also add in additional savings that you want to put away for your children. So if you were to give your child $5/week as pocket money, boost it up by another $15 and allocate the $15 to their savings account.
    Your child then receives the $5 as their hands on money. As you allocate them their physical money, show them that the larger portion of their pocket money is going into a savings plan, in which you will buy gold or silver.
    So get them involved in the process of putting money aside, and when there is enough to buy what you feel comfortable with, sit down and walk them through the process of buying and storing precious metals.
    Now, I understand that this process can be underwhelming for kids over time, as they have nothing in their hand but the small portion of pocket money left for them to spend. So I would plan at times to buy and get some of the gold/silver purchases delivered to you.
    So, for the younger ones I would be looking at silver coins, as they are cheaper and you can easily have a small collection of them at home. They then have a chance to hold them and treasure them at home; they will find a safe place for them and look after them.
    As they get older and are more responsible, you can transition into buying and holding gold. This is a lot more expensive, but the allure and attraction to gold is real, and along with it a greater responsibility to protect the asset.
    However, behind it all is the continued plan to Buy and Store in your chosen bullion account.

  2. Get an App
    Kids are plugged in. They are now more tech savvy than ever before, they understand today’s technology and they can grasp it quite easily, so using an app on their Ipad or tablet is an ideal way of introducing them into the world of responsibility and reward.

    This way you can get them involved with inputting data into a savings tracker and they can use their favorite device for something other than games. They will have access to look at their tracking whenever they want, and you can show them that their reward is growing over time.
    There are plenty of apps for all devices out there. Apple has an app called Numbers, and play store has a budget tracker app. You may need to spend a little time and find the one that is right for you and your child.
    But if you want, you can start off with a large colourful chart that can be put on their wall. This is a simple low-tech way of showing young children the process and progress of what is happening with their treasure.

  3. Give your kids a “Vision”,
    and set some goals during their life, starting as young as you like.
    Have open discussions about what is potentially important to them in the future, and then go on to explain that in order to achieve what they want for their future, they will need to start on the work and planning today.

    So, if your young child wants to have a bike, castle, pony, fire engine or whatever it is that is capturing their imagination for today, encourage them that their savings plan will help them achieve their goals for the future.
    As they get older, give them some rewards along the way. This will keep them engaged in the savings plan. And be wise enough to resist on them accessing their entire savings, as their vision for what is important to them will change, as their future goals will change as they mature.
    At this point, it is still vital to encourage your children that saving for their future is important, and discuss what goals and wants that they have for their savings.
    At some point you may want to start dropping hints for what the savings are really for – is it a car, deposit for a house, the horse they always wanted, overseas trip, wedding plans or a boat? Whatever it is, you have now spent a generation of saving and investing. And it was all affordable.

How do I sell my Gold collection?

When you are ready to cash in on your investment, or you need to access some cash for any reason, you can simply sell your gold back to the dealer that you bought it from.
This process is super simple and easy if you have the Buy and Store option with your dealer. They will buy back the gold and transfer it back into their vault, then fill your bank account with the cash value of the gold. This is the cheapest method of buying and selling precious metals, as there is no added freight cost or insurance.

However, if you have your gold in physical possession, then there are a few options available to you, and you will decide which one is best for you at the time.The quickest and easiest option is to take your collection or part of it to your local pawnbroker and make a sale, but be prepared to take a hit, as pawnbrokers like to make large margins of profit on their sales, and this generally comes from them trying to buy everything super cheap. So for this reason, it is always good to have part of your collection in small value pieces so it can be sold off for quick cash without affecting the majority of your collection.
You can find a local jeweler that can use and appreciate the true value of your collection, and you may be able to negotiate a better price than a pawnbroker.The best option and the best price, will be to sell back to your original dealer.
If you go with one of my preferred dealers, they tend to like buying back gold from people that they sell it to. So if you have an account with them, they know what they have sold you, and the chances that they are going to buy back the same product, eliminates some risk for them.
This creates a relationship between the supplier and buyer. This will attract some extra fees when it comes to shipping and insurance. But on the most part, you should have made some money along the way with your investment, so paying an additional cost in selling should only be a small margin of what you have made.

Have an Exit Plan

If you have decided that you will go with a long term savings plan (10+years), you will discover that you would have put aside a hefty sum of gold and silver. If you need the money to buy a house, start a business or take an extended holiday overseas.
You will want to have an Exit plan, and the plan will be quite simple, but takes a little

understanding on what is happening in the world around you.
As with all commodities, the buying/selling price will fluctuate according to the market, and the market is a volatile place which can also affected by world events. As I write this article, the world is holding it’s breath over the Brexit, and what that means to the EU and the world as a whole.
Now for most of us, it has no impact on our daily lives. But it has an impact on the stock market, and that will affect gold and silver prices.
Today is a great opportunity to sell. We have seen tremendous price increases on gold overnight. There are a number of factors driving this, including the crash of the British Pound. At some stage it will recover, and the price of gold will come back down.
If you become a consistent investor in gold as a savings plan, you will see on the websites you buy from, charts that show you very simply the price of gold in the market place and how it is trending. You can make a plan to sell when you see the price trending on the up. And if you see it trending low, you may need to consider waiting a month or two. Gold is a solid investment and if you remain calm and wait if it’s selling low at the time, it will bounce back and be a good friend to you.
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Past performance is not an indication of future potential values. Any opinions expressed here are just that, an opinion and they reflect my personal buying preferences for investing in gold and silver. These opinions are not meant to devalue any company’s fine offerings, but all comments are given to bring potential warning about unregulated dealers in the market place.

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Peter Dove

Good information here. I’ve been wanting to start buying gold for ages now. I just need to have more money to be able to invest in it!!!

What would you say would be the minimum that you would want to have saved to start investing? I mean is there any point buying it if you can’t buy a decent quantity (starting say with several thousands of dollars say) ?



    Hi Peter, you have a valid point , but lets say you sign up with one of my trusted dealers, you can start investing with as little as $70, in a “buy and Store” account , so you do not need large sums of money. Its an old mindset about gold being out of reach. Buy todays standard, buying gold is easy and for everyone. Thanks for your Question

Lauren V

I can’t believe how high gold has risen since December! My husband and I should have bought while it was low, but once the prices started jumping, we ended up settling for some silver bullion coins. I’m happy with my purchase and it’s nice to know part of our savings is backed by silver.

Do you recommend a certain percentage of savings to be in precious metals?


    The recommendation for how much you save, is entirely up to you and your goals. If you want something bad enough, you will save harder, and all of our circumstances are different. But saying that, if you can put away %10-%15 of your wages(before bills and tax), you are doing well.

Brian R

Loved the article. I have been thinking about getting into gold but I just don’t know how they are treated around tax time. As a US citizen, what are the tax implications of buying physical gold and silver? How are they treated when they rise and when they fall in value?


    i do not know the finer details about American tax laws around investing in gold, however you can easily set up an account in Singapore, there you will have No tax’s at all. Pretty sound investment right there. you will find more details in the chapter “How do i buy Gold” Thanks for your question.


Thank you for this information. It makes me wish that I had started my, now grown, children on buying gold and silver. It’s never too late though – my oldest is pregnant (yes, I am going to be a grandma!), due in December. I have forwarded this link to her and know what I will be getting for my new grandbaby on his or her birth-day. Although I have never been interested in commemorative coins I did buy some of the small bars directly from dealers when I was in the Middle East – I wonder if you can get a date stamped into them? Like a birth date? Would that devalue them? Or could I buy one from a dealer and have that done? I do intend on checking with your dealers and see what they will do but would be interested in what you have heard. Also, are the US sites good for Canadians?


    Hi Suze, yes you can get alterations done to your gold bar, get it engraved or stamped, that is if you have a “cast bar”, if it is a minted bar, you may want to leave it in mint condition. but at the end of the day it comes down to the weight of gold you have, so it can’t depreciate to much if you mark it.

Elizabeth Hanson

What a great article. I am homeschooling my kids and learning how to be financially independent is one of my major teaching goals for them. They are young so a piggy bank was exciting for them.

We started to buy gold as well as we feel that the US dollar is going to have a major dip in value in the new future and we want to be prepared just in case.

Another thing we are doing is making sure that we buy small pieces of gold that have a small total dollar value. If something did happen you don’t want to have a $500 piece of gold that you can’t make change for.


    Wonderful, great start for your children. As for buying smaller pieces, that a great strategy to have, the draw back is that you do spend more in manufacturing cost. But if that suits you , thats fine. My advice is to buy some silver as well. 😉


I am so glad I read this article: I had no idea of fake gold on ebay, so that was a good tip. Gold in my mind always goes up and down in value, and I never really thought of it as a solid investment until reading this information. I am putting this strategy on the plan, I wish I had a savings plan like this when I was a kid.


    Thanks Ingrid, if gold is to dear, buy silver. Have fun


Kahlroch, this is a great article with a ton of information. I wish someone had told me about this when I was younger. I also wish I had this information before I sold my gold jewelry. If I would have known I would have saved it longer to get a better price. Thanks for the great information.


Hi! Wow, you have a lot of great information in this article! I do think that this is one of the most important things we can teach our kids. It’s something we’ve done with ours. All five of our kids saved and paid cash for their first cars. And they didn’t buy beaters, either!

We also started buying precious metals for them when they were babies to give to them when they became adults. It will always have value, no matter what happens to the economy. Fortunately my husband stays on top of all of this, and the rest of us reap the benefits!

George B

Thanks for the informative post. I didn’t realize I could start buying gold in $70 increments! Waiting for a large amount of savings has also held me back from investing further in gold and silver. Do you recommend a certain balance in owning gold vs. silver?


    Myself, i prefer Gold, however as the days roll by, Silver is looking like it might out perform Gold in the next ten years. So if you want to go long term, then i would start hedging my bets on Silver. Silver is cheap and very affordable, so you can’t go wrong,the only way is up for silver. But i love to have a few pieces of Gold around the house too. Thanks for your comment


Very interesting concept to saving money by buying silver. What a great idea to teach your children to save as well.


    Thanks for stopping by Linda.


Thanks – this is a strategy I have never thought of before, making the cogs in my brain turn!
I’ve visited Perth Mint, when we were in Australia, great watching them pouring the gold – loved it!


    Thanks Dawn, this is something that is not widely known, and there is an assumption that gold and silver is too expensive to start buying. This is simply not true. Im glad i got you thinking. Please go and check out my other articles on gold and silver


I do love gold! Yeah its a great idea for people to buy gold and silver it has maintains value for a long time and keeps going up. We have seen this for thousands of years and its why countries back up their money with gold. This is great and smart!

Thanks for the info cheers!


    Thanks Alexander, we are now moving into times where governments are no longer backing up there paper money with gold, plus all of the wealth in the stock market is not backed up with anything but speculation- Risk


Bookmarked this page. Ever since the dotcom bubble burst I’ve been ever so careful with investing in anything. Reading this it does make sense. Will come back to ponder. Thanks for including where not to go and not to buy and what to look out for. Perfect guide for a newbie like me.


    Awesome, enjoy the adventure


Can’t go wrong with precious metals as part of your portfolio. Thanks for the informative article. Hope you’ll have more like this.


    Thanks for dropping buy Quinn


Interesting how many say they buy gold and silver and what forms. In my research over the years every one says to not tell what you are doing! I am not sure I would tell what I am purchasing on here. Sorry just me! HOWEVER, this is a great website and your information is excellent! The Children’s savings plan is priceless and will always hold its value. You must like to have physical precious metals in your possession too. Do you deal with any companies that hold it for you in a special vault with other people’s? One can never go wrong with gold and watch silver for sure. It is so volatile but worth the risk with being so low the last year or so. You have a great website!!


    Thanks for your feedback Maria. All our gold dealers have a “buy and store” option.


You have a lot of great information in this article! I do think that this is one of the most important things we can teach our kids. It’s something we’ve done with ours. All five of our kids saved and paid cash for their first cars. And they didn’t buy beaters, either!

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