Another school year is about to begin. And because we are thinking about education, we would like to ask this question . . .
What is the best way to educate young people about investing in precious metals?
It is a question worth asking. After all, parents and other concerned elders spend a lot of time thinking about how they can get young people interested in stocks, mutual funds, bonds, real estate, and other investments. Those concerned elders are establishing and funding IRA accounts for young people, giving them shares of stock to get them started, and taking other steps to help young people build a strong financial future.
But are those same older folks actively encouraging young people to build bright futures by investing in gold, silver, platinum and other precious metals? Not nearly enough, we don’t think.
Here are some ways you can encourage the young people you know to start investing in precious metals.
Suggestion One: Give a Young Person a Coin or Bullion Bar
Let’s face it. Coins and bullion are very appealing investments. They are bright, shiny, beautiful, attractively packaged, and easy to store in a safety deposit box. Their value can be easily tracked, simply by following the trading prices on the London Fix that we update daily on the Specialty Metals Smelters and Refiners site.
When you give a young person a beautiful coin or bullion bar to follow as an investment, you are taking a good step to turn that young person into someone who can profit from precious metal investing for a lifetime.
Suggestion Two: Assign Ownership of Some of Your Precious Metals to a Young Person
You can say, for example, “Among my investments I own a ton of old welding scrap and I am giving you 200 pounds of it. Whatever money that brings in when I recycle it, is yours.” It’s a great way to get that young person involved in speculating on precious metals.
Suggestion Three: Give a Gift of Precious Metal Scrap
You don’t need to physically deliver the scrap to your gift recipient. Instead, you can say, “I am giving you 50 pounds of scrap that I bought from a defunct jewelry factory. I’m going to have it tested at Specialty Metals Smelters and Refiners and whatever it is worth, is yours.”
Again, this is a way to get a young person interested – and excited – about getting started as a precious metal investor.
Suggestion Four: Set Up and Fund a Specialty Metals Smelters and Refiners Pool Account for the Young Person
Call Specialty Metals Smelters and Refiners at 800-426-2344 to learn more. Our Pool Account offers significant benefits to you and the young person you are supporting, especially the ability to sell the metals he or she owns for the highest prices in the future.
How does a Specialty Metals Smelters and Refiners pool account work?
You send us recyclable precious metals and materials. We establish your account. You can set it up with a mixed bag of different items that you have, including quantities of old gold-filled eyeglass frames, even photographic or x-ray film that contains silver.
We immediately process the materials that you send us and send you a full report that shows the content of your scrap or other recyclables.
You can contribute additional materials to the account in the future.
When you tell us to, we will sell your metals at the then-current trading/market prices and pay you the value of your Pool Account. You can also take advantage of future price increases by having us liquidate your metals only when prices reach a point that you specify.
You control the value of your holdings, and can sell them quickly, anytime you wish.
You can stop paying to store and insure your holdings.
Want to Know More?
To learn more about the strategies discussed in today’s post, call Specialty Metals Smelters and Refiners at 800-426-2344. Our consultants can answer all your questions about how you and the young people you care about can profit by making smart investments in precious metals.