Diversifying your wealth into precious metals is one of the most important financial decisions you can make. It’s also important to carefully consider what types of precious metals to own amidst the array of options.
Many are familiar with the option of keeping precious metals in an IRA. Those who understandably refuse to take the penalty for cashing out in order to take full personal possession now have the next best option and a way to get control of their metal.
Estate taxes can eat up the value of everything you've worked hard to accumulate, leaving your heirs with less than you anticipated. This is particularly true in the case of precious metal because taxes are higher than on stocks or equities.
The fact is that all the gold is gone from backing all the currencies - and even from the Olympic medals - and that people think gold colored plastic credit cards are actually something with which to impress.
Since the Federal Reserve's creation in 1913 the dollar has lost more than 96% of its value. The greatest achievement of the Fed has been to transform America from being the world's foremost creditor nation to the world's largest debtor nation.
What does Ron Paul own? Other than real estate and some cash, the majority of his holdings are in gold and silver mining stocks. Sixtyfour percent of his portfolio is in mining stocks and 5% of the total is in Canadian based junior mining stocks.