By: Joshua Gamen
Silver and gold investing is catching on quick, because the dollar is rapidly crashing and thus skyrocketing the price of commodities. This week, I received an email from someone who read one of my comments on Rich Dad Blog. She asked a very good question, “where do I start with investing in silver?”
I am sure there are many other people out there asking the same question about investing in silver and gold, especially since silver and gold are sky-rocketing!!! So I decided I would write a blog post and share the email conversation with you. Enjoy! 🙂
PS: Be sure to check out the videos at the bottom of this page!
I happened to see ur email @ rich dad’ blog.
Im a beginner been following rich dad’ blog and books for couple of weeks. Hopefully can get contact with the investors out there for my learning path.
Btw, how do u invest in silver? Where and how to start?
Hi Ivy :),
I’m glad you reached out to me! I love meeting new people and networking with like-minded individuals and teams!!
You said you are new to Rich Dad’s blog and books. Are you also new to investing?
Personally, I invest in silver by purchasing it at my local coin shop here in Scottsdale, Arizona. I found a local shop which is small and privately owned, and I started talking to the owner. The more I talk to him, the more I learn. I know he is fair to me because I always pay right at “spot price” for my silver, or just slightly over(depending on the coin – IE: silver eagles are usually $1-2 over spot price). What confirms to me that he treats me fairly is that I can always go back to him and sell my silver back to him for the same price I bought it for(in relation to spot price).
I hope that makes sense. If not, let me know. But basically the best place to start would be to read one of Rich Dad’s books titled “guide to investing in gold and silver” by Mike Maloney. Mike is Rich Dad’s gold/silver advisor and reading his book is where I started. I agree with Mike’s advice on where to start: Find a local shop in which you trust, and start to build a relationship with them.
Keep at it!!!
March 2, 2011:
November 8, 2010:
One of the best things you can do for your financial education(in addition to reading this blog 🙂 ), is to read Robert Kiyosaki’s Rich Dad books. If you have never read one before, start with “Rich Dad Poor Dad.” Rich Dad Robert Kiyosaki also writes a blog titled “Rich Dad Blog” (http://www.richdad.com/Richdad/RDBlog/RDBlog.aspx?TopicID=54) Rich Dad invests in silver and recommends that everyone do the same, at least at some level.