Wednesday, December 1, 2010

I want to buy a few golden bullions

Reading about inflation, devaluation of fiat currencies and the instability around the world makes buying little golden nuggets more and more tempting. Now before anyone who read this blog thinks that it's time to burglarise my place and make off with my little golden nuggets - I haven't bought any yet and when I do, it will be left at the mint vault. I won't be stupid enough to be storing them in the cookie jars in the pantry.

A few years ago a few friends and I were having dinner and we were joking about buying a few chunks of gold. Too bad we were only joking around! Gold has gone up in price and gold is looking more tempting as Greece, Ireland, Spain, the UK and the US battle their deficit demons. With the US printing money like crazy, the central banks are getting twitchy holding USD (US Dollars) as a reserve currency. A lot of central banks hold gold bullions in their vault as well. Afterall, gold was previously traded prior to nations having their own fiat currencies.
Oh well. No regrets. It's not like we've gone and blown the lot on discretionary expenditures and consumer junk. Most of us either have shares or properties or both, or a mixture of everything. And earning dividend + rental income can beat holding gold which doesn't pay an income in any shape or form.
As always, Perth Mint is quick on the uptake and has opened up a site specifically for those wishing to indulge in buying golden coins or bullions. I'd prefer bullions but any investor who has a numismatic bent, may prefer to buy the gold coins instead. I've previously written about how you can value your gold jewelleries to sell them for cash but why go flogging off the family jewels when you can wear them and over time, they go up in value as well.
I've always wanted to buy a few golden bullions in my portfolio so when I do that, I'll be sure to outline my bullion buying adventure for anyone who's interested. 2011 is the year to bling up my portfolio with some yellow metal.

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