Exchanging with Gold and Silver

Something that could become a reality in the near future due to the dollar losing it’s value is going to the store and purchasing a gallon of milk with 1/10th ounce of silver, or a pre- 1965 dime. Kind of hard to imagine but some states are actually trying to make this happen in an advance of any type of dollar collapse. In the past people used gold and silver as money, in fact between 1795 and 1933, gold, silver and paper dollars were used concurrently for spending. Quarters and dimes were composed of silver until 1965. When President Nixon removed the backing of the dollar with gold in … [Read more...]

Spot Price of Gold

Gold is considered a universal trading commodity which is likened to timeless money. It can be traded in various manners such as cash payment through bank wires as well as cashier’s check with an immediate delivery. These transactions happen frequently everyday where the agreed price benchmarked is known as gold’s “spot” price or “cash” price as commonly called. Many traders of gold insist on a minimal ounce per transaction at any spot price. A common mistake made by new or novice investors trading gold is referring to the futures price of gold rather than the spot price. The … [Read more...]