Now that Gold and Silver are rising, there have been questions about how us commoners can get in on the action. This is not an exhaustive list, but represents a few of my ideas (disclaimer : I may be invested in some of these) :-
I consider this to be a very well-respected organisation for investing in precious metals. Their exchange is transparent and they promise all metals are held in their vaults across the world.
For the inexperienced investor be careful when you buy, as illiquid exchanges outside of market opening times can have very large spreads and you get caught out.
To make it worthwhile, you must balance the % cost of the minimum monthly fee against your overall intended purchase and holding. It simply doesn’t pay off to maintain a small holding here.
An advantage here (given the forced confiscation of gold by governments that often occurs in a supposed crisis : think USA 1933, or even UK 1940) is that you can hold your gold and silver outside your home country. Switzerland, UK and Singapore being the most popular options.
Revolut
This online-only Lithuanian Bank, with full EU banking insurance, operates online only or via a very nice app that gives you access to Gold, Silver and Platinum exchanges with a very low bid-offer spread and a 2% commission on the free account version, reducing if you subscribe to a higher-level account. Bonuses here include that you can also set limit orders, so you can buy at a price you like. Downside is that when I read the T&Cs, it says “your precious metals are backed by a bank” – I have no idea which one, as it doesn’t say. No matter, I hope that as Revolut is an EU-approved bank we have some kind of banking insurance in play if it all goes wrong. at the very least we are on the same footing as if we bought one of the mainstream ETFs, where there are suspicions the metal isn’t as physical as we perhaps hoped.
As a bonus, even the free version of Revolut allows one free share investment a month, so consider investing in a gold, silver or commodities ETF (claimed physical holding, or mining) and remember that nothing I say here constitutes financial advice, I am merely echoing my own sentiments on cost-effective investing and my own sound investing ideas.
Revolut could also be a benefit to you in other ways – you get a free bank card for very cost-effective purchases abroad in foreign currencies and also, a “disposable credit card”, where the app will generate a one-off credit card number for online purchases, so no-one can hack and reuse your card. I personally find it ideal for travelling abroad.
Note however, that Revolut in the UK does not have a banking license, however it is still very popular there.
Your local coin dealer
In this world of virtuality, there could still be some benefit in keeping some coins or other such treasures close to hand in case of the ultimate crisis striking, where the money dies, as it did in 1923 for Germans, or the Machine Stops, as the internet easily could at some point. In fact, the WEF has luckily already warned us about such an occurrence, just as they did in 2019 with their pandemic preparedness.
In this case, it might also be worth picking up some silver coins.
Saxobank
Saxoinvest just started up a very nice-looking monthly savings account, where you autobuy shares in ETFs or funds based on the monthly amount in DKK you fund the account with. I note that the ishares Gold Producers ETF is on their free buy list, so could also be an option to consider as there is no buy commission.