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The treasury
I enjoy playing with money. Or, to put it more simply, I enjoy playing with assets that have the potential to increase in value.
For the majority of my life I have always had the desire to own one asset in particular and that asset was gold. All that glitters has, for as long as I can remember, always fascinated me. Put simply, gold was quite possibly the primary source of inspiration that was responsible for me becoming interested in assets in the first place. Even as a child I understood the unbelievable value of gold and gold coins. From what I have now come to understand, everyone loves gold and I am yet to meet a person who would refuse a gold coin, even if it was a faith based fiat one. More on fiat currency in an future post. So, a question remains. How does a child come to understand what value is or better yet what wealth is? These ideas must of come from somewhere. For me, it was Indiana Jones and afternoon cartoons. Films such as Indiana Jones probably played a large part in developing this unfettered interest in assets and treasures. But Duck Tales which aired after school at 4.00 pm each week day definitely played a larger part. Cartoon images of a wealthy Scrooge McDuck always held my attention. But looking back on it today I have come to realise that it wasn’t the money that Scrooge had that really interested me, it was the appearance of freedom that Scrooge and his pals had that truely captivated me. Some of the images have stayed with me for life. Especially the images from the episodes where Scrooge would decide to take a swim in his now famous money bin. Although completely unbelievable and almost certainly suicidal, jumping into a bin filled with gold coins is where I envisioned myself to be in the years to come. This simply turned out to not be true. Shortly after graduating from school my dreams of a money bin quickly faded. The costs of raising a family at the age of nineteen, on one minimum wage proved to be far too expensive. At the best of times I was lucky just to break even and more often than not I simply found myself going deeper into debt. Any chances of obtaining savings was swiftly swept from within my grasp. Over the next ten years I would often get unwanted advice from my friends and siblings that I should be saving my money so I could buy a house. Problem was by the time the weekly bills were paid there was rarely anything left to save. As this was the case buying assets was not something I did immediately and buying a house was certainly out of the question. In fact, up until only the last few years, I wouldn’t have even had a clue as to how to obtain these elusive assets. Having now finally learnt how to purchase various assets on my own I have finally decided to share some of my new found knowledge. So, this is for you. Yes you, the one who is still reading or listening to this article. If you have ever wondered how to obtain these elusive assets for yourself, without the need to actually dig them from the ground with your bare hands than hold in there, this article will reveal some of knowledge required to obtain them. This article in particular has been written article in the hope that it takes out some of the unknowns from purchasing assets such as gold and silver. In fact, this article will reveal to you how to buy and sell gold and silver right now from your smart phone. It is best to keep in mind that this article has been written with express focus on the Australian gold and silver market, because that’s where I live and that’s the market that I learnt. But before giving some pointers on the where to buy and sell gold and silver a short over view of how I learnt about the precious metal classes should be mentioned. In 2018 I was working shade nets. Yep, each day I would find myself bored senseless with too much time to think. Shade netting involved heaps of hands on work but very little mental energy. This gave me an opportunity to do a deep dive into how I too could too obtain all that glitters. Using the power of my iPhone I unlocked the world of precious metals. YouTube proved to be one of the biggest assets in regards to finding knowledge on the subject. It was on YouTube that I discovered the likes of Mike Moloney and Rich Dad Poor Dad author Robert Kiyosaki. I would recommend reading their books to any one seriously interested in purchasing assets. With these two as my guide I was finally ushered into world of assets, especially the ancient world Gold and Silver. After having soaked up the knowledge shared by both Moloney and Kiyosaki I was more confident in making my first purchase of gold and silver for myself. A quick search on Google revealed a company in Australia called ABC Bullion. After completing a quick online application form and providing my identification and bank details I had created my first Gold and Silver account. Once verification was completed I was finally ready to make my first purchase. With ABC billion there are three different options for purchasing precious metal assets. A quick note on what an actual asset is. An asset is considered an item of value that is likely to increase in value in the future. A liability is the complete opposite. For example, buying Gold is considered an asset because generally the price goes up over time. Buying a car on the other hand goes down in value as soon as you drive it off the lot. It also costs you money to maintain it. So with that it must be first be understood that gold is indeed an asset. In fact it is considered an ancient asset. After all the conquest of Mexico may have happened under the disguise of converting native Americans into Christian’s but what it actually was is a raid on the gold supplies of the Aztecs. God had nothing to do with it while Gold on the other hand had everything to do with it. Now, as I mentioned earlier, ABC Bullion had three different ways of purchasing precious metal assets. The first way is to browse their online catalogue to buy coins and bars of various dimensions and weights. Once purchased you the buyer can choose whether to have the items shipped directly to your door or the second option you have as the purchaser is the option to store your purchases in the vaults that ABC billion has at their disposal. Keep in mind that this will incur a storage fee that is generated over time. Personally, I decided to have it shipped directly to my door. Having gold in the hand is a different experience to never seeing it. More in this in a future article as well. The third option is to buy into ABC bullions gold saver account. It is here that you can buy and sell gold and silver at your own pace. The purchases are paper purchases. Once a purchase has been made you simply wait three days for the funds to clear and than the value purchased is reflected into your account. I have also decided to purchase gold and silver in this fashion as well. As I mentioned earlier, having gold in the hand is a complete different experience to having gold in your account. After all, if there is panic selling in the market it is harder for you to trade on emotions with physical metals than it is to trade paper metals. Now, for clarification purposes, paper metals are simply precious metals that you own on paper only, this is basically the Gold Saver account that I am speaking of. With ABC Bullion the paper metals can be converted into physical metals and than for a fee they can be transported to your door but keep in mind that each step of this process will attract fees. On the other hand Physical metals actually require you to go to a gold buyer and actually hand over something of weight and size where as simply clicking a button in your gold saver account to sell your paper metals is far easier and far more prone to panic selling. Because it is easier, panic selling is something you will often find in the paper markets of the gold world but rarely in the physical markets. So there you have it. One of the easiest ways to buy gold in Australia is to open an account with ABC Bullion. Personally I have purchased both physical metals and paper metals, but this choice is completely yours. And keep in mind, this is not finacial advice, it is simply a guide as to where such purchases can be made. All trading of commodities should be carried out at your own discretion. Understanding the market before going into it helps you to understand what is happening when the price falls and when the price goes up. There is so much to learn. I believe that playing in the market of Gold and Silver has taught me many new aspects of interest about all markets in general that I may not have ever learnt otherwise. Supply and demand is the key to understanding price dynamics of any market. Once you can grasp this concept than the world is your oyster and all you need to do is kick it.
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Micheal Farmer“Once upon a time ancient and medieval kingdoms had treasuries full of treasure. Where’s yours?” - ArchivesCategories |