It has occurred to me that we don’t often explain how to purchase gold or silver. When I say “how” I am talking about the logistics. I guess that is because we know how simple the process is. We just always skip over it and go to the “why” of why you should purchase.
Once you’ve decided that there is merit in precious metals ownership the next step is to decide whether it should be gold, silver, a mixture or even some platinum mixed in. I have written many times before on this topic, suffice it to say that I am a firm believer that you should start with silver for several reasons. First and foremost, if the system does seize up and collapse, silver will “spend.” There is also the fact that silver is currently trading at very large discounts on a ratio basis to gold which should help it outperform in the future as the ratio works its way back to normalcy.
Your next step is to decide what form of gold or silver you should acquire. Coins or bars? I have always been an advocate of coins because these are more easily recognizable. This “recognizability” will make it easier to sell or barter with and there is no need to for an “assay” or papers verifying pureness with a coin versus a bar.
OK, so you have arrived at the point in time that you know what it is that you’d like to purchase. You know how much you would like to move into “alternative savings” (out of the system). This is the easiest part! The process will take less than 10 minutes and you can do it from a chair if you’d like. Your broker will ask you where you would like the metal delivered. Your home? A storage facility? Possibly your office, if you trust your co-workers to sign. The final question is “what and how much?”
Your broker will then send you an invoice confirmation with details of what you purchased and payment instructions. New clients may pay via personal check or bank wire.
Please keep in mind that it takes 7-10 business days for your check to clear. The clearing time for a bank wire is 1-2 business days. Once the payment has cleared, then the delivery process will begin. Depending upon availability, your metal could arrive within the next week. Currently there is a 2-3 week wait on some silver products which means that it will not even reach Miles Franklin for 2-3 weeks. Once your payment has cleared and the metal is available, we will ship via UPS or US Mail.
All of our shipments must be signed for by an adult. It must be signed for because until you have it in hand and have signed for it, it is fully insured. ALL deliveries are sent insured and not your responsibility until it is signed for. This makes no difference to you as it is the responsibility of Miles Franklin up and until it is signed for. I would like to add that Miles Franklin has NEVER “lost” a shipment in 23 years.
Several of the brokers have told me that “silver is a problem for older people” because it is “so heavy.” Let’s use a junk bag of silver as an example. This is approximately the size of a bowling ball bag and weighs 49 1/2 pounds. Of course a 75 year old may not be able to haul this thing around… so have your order sent in 2, 3, or even 4 shipments. Yes the shipping will cost more but the bottom line is that we’ll do what we have to do to get the metal to you in quantities that you can handle or carry. Please let us know any limitations that you might have and we will do our best to work with you.
As an aside, since silver is so bulky there is a good chance that your UPS guy will say something like, “Geez, this is so heavy. What the heck is in here?” to which you will have an answer. No, the answer is not, “None of your business.” I would suggest something like “brake parts for my old clunker” or better yet, “rounds of ammunition” which tells him yes, you do have guns in the house.
I hope this was helpful to you if you had hesitated in the past because you didn’t know what the logistics of making a purchase were. Now you do and now you know just how easy it is to protect yourself financially. If you have any other questions then please feel free to contact Miles Franklin at 800-822-8080 or visit our website www.milesfranklin.com and we will connect you with one of our experienced brokers.