Let’s dive into the dazzling world of precious metal, my friends. These rare gems are like the cool kids of commodities – they’re unique and valuable, and they don’t care where they come from.
Now, you’ve probably heard of commodities like grain, pork bellies, and sugar, right? Well, Precious Metal plays in a different league. Unlike those everyday goods, you can’t just plant more gold or silver in the ground. They’re like the MVPs of non-renewable commodities.
So, what are we talking about here? We’re shining the spotlight on the fab four – gold, silver, platinum, and palladium.
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CMI Gold Silver Inc: Your Precious Metals Partners Since the 70s
Back in the early ’70s, Arizona was flexing its muscles as the fifth-largest silver producer in the entire nation. But there was a problem – the supply of silver was shrinking faster than ice cream on a scorching day. That’s when the brilliant minds behind CMI decided it was time to step in. In 1973, they formed CMI to dive headfirst into the world of silver trading.
But hold on, 1974 was a game-changer. That was the year when Americans regained their right to own gold bullion. And guess what came with that shiny new right? The ability to buy precious metals and sell gold and silver bars for investment purposes. CMI, already well-versed in the silver game, wasted no time jumping into the gold bullion trading scene.
From the get-go, CMI Gold and Silver had a mission – to provide honest, no-nonsense, and professional service to guide their clients through the precious metal maze. They’re not just about pushing metals; they want you to be fully aware of the ups and downs, the glimmers, and the potential pitfalls of precious metals investments.
Now, here’s where they shine – experience. With over 50 years in the business, CMI has seen it all when it comes to buying and selling the big four precious metals: gold, silver, platinum, and palladium. That’s a whole lot of wisdom under their belts.
Meet the Haynes family – the heart and soul of CMI Gold and Silver. President Bill Haynes has been at the helm since 1973, steering the ship through decades of precious metals trading. And it’s a family company; his two sons have joined the management crew, making sure CMI’s legacy continues to sparkle.
Gold Confiscation History: Know Your Precious Metals Past
The gold confiscation history started in 1933 when President Roosevelt made a bold move by signing an executive order. This order had a clear message: “No more hoarding of gold coin, gold bullion, and gold certificates within the continental United States!” Why, you ask? Well, there’s a backstory to this shiny tale.
Hoarding gold had become a bit of a problem. People were squirreling away gold like it was going out of style. But this presented a big issue. You see, the amount of gold in the U.S. reserves was limited, and that was cramping the Federal Reserve’s style. They needed more gold to pump up the money supply, a crucial tool for getting the economy back on its feet during the Great Depression.
This whole gold-hoarding situation was linked to something called the “gold standard” for U.S. currency. But here’s the twist – President Roosevelt’s executive order effectively threw the gold standard out the window. It was a bold move indeed.
In 1974, that’s when the winds of change blew through the world of precious metals. The restrictions on private gold ownership in the United States were finally lifted. People could once again hold gold without fear of legal repercussions.
Even though those restrictions were gone, any sneaky gold and silver dealer, especially those pesky telemarketers, started playing on people’s fears. They spun tales of impending restrictions on private gold ownership, trying to stir up worries and manipulate precious metals and silver prices. Sneaky, right?
Knowing your history is essential, especially when it comes to precious metals. While the days of gold confiscation are firmly in the past, it pays to be cautious of modern-day con artists who might try to play tricks with your gold investments.
Investing in Precious Metals? Here’s Your CMI Buyer’s Guide
Whether you’re looking to diversify your portfolio or simply shine bright with some shiny assets, investing in gold and silver can be a brilliant move.
Indirect vs. Direct Investment
First things first, you’ve got a couple of investment paths to explore. You can take an indirect route, like gold certificates, special mutual funds, or mining company stocks. But if you want to get up close and personal with your precious metals, you’ll want to go direct. That’s where silver CMI gold shines, offering physical ownership of gold and silver.
Gold Bullion: Collectable or Numismatic Coins and Bars
Now, let’s talk about gold bullion. This is a popular choice among precious metal investors, and it comes in two shiny forms: bullion coins and bars. Gold coins hail from various government mints like the U.S. Mint, the Royal Canadian Mint, Australia’s Perth Mint, and the Austrian Mint. Meanwhile, gold bars strut their stuff from mints and refineries worldwide, with 1-oz. bars being the crowd-favorite.
Premiums and Ease of Sale
When it comes to investing in precious metals, you want to snag forms with small premiums. What are premiums? Well, they’re those extra bucks you pay over the metal’s intrinsic value. It’s essential to keep these premiums in check, and here’s why: the easier it is to sell, the better.
For instance, American Gold Eagles and Krugerrands are hot shots in the U.S., making them a breeze to sell. But don’t dismiss gold bars – they often come with smaller premiums than platinum coins.
Silver: Bigger Gains, Heavier Weight
Now, let’s talk silver. In a strong precious metals fair market, silver can strut its stuff with more substantial percentage gains than gold. But there’s a catch – silver packs more bulk and weight than gold, which can be a bit of a logistical challenge. So, if you’re going silver, think about the handling and storage aspect.
U.S. Mint’s 1-oz. Silver Eagles are the go-to government-issued silver coins. They might have a face value of just $1, but they sell for their silver content value plus a premium. Keep in mind; that these premiums tend to be higher than standard silver bullion bars.
Gold Investment Coins: Your Shield Against Currency Woes
Gold investment coins are your go-to hedges against currency woes. They’re not the same as those numismatic and collector coins that some brokers might try to pawn off on you at sky-high prices. Nope, gold investment coins keep it simple. They sell with small premiums over their actual gold value, making them smart choices for savvy investors.
Top Dogs: American Gold Eagles and Krugerrands
Now, when we talk gold investment coins, there are a couple of rockstars that deserve the spotlight. First up, we have the American Gold Eagles – these beauties are the best-selling gold investment bullion coins worldwide. They offer you that golden security without breaking the bank.
Then there’s the Krugerrand, a well-known name in the gold coin game. While they might not steal the show with ultra-small premiums, they still offer a solid investment option.
So, remember, when it comes to gold investment coins, think simplicity, think security and think smart. American Gold Eagles and Krugerrands can be your golden ticket to a more stable financial future.
Go for Gold Bars: A Simple Investment with Big Potential
Gold bars are like the champions of low premiums. That means you can get more bang for your buck when you invest in them compared to gold coins. It’s like paying for the good stuff without the extra frills.
Now, when it comes to gold bars, you’ve got options. You can choose from 1-ounce bars, 10-ounce bars, kilo bars (which weigh 1,000 grams – that’s some serious gold!), and even 100-gram bars. The best part? They’re all super pure, standing at a whopping 99.99% pure gold.
Big Investors, Meet Kilo Bars
Here’s a cool tidbit – in the past, it was mostly the 1-ounce and 10-ounce bars that took the spotlight. But today, large investors are showing some love to the kilo bars. These hefty gold bars are becoming a go-to choice for those who mean serious business in the gold game.
Size and Weight Matters
Now, here’s the thing. Smaller gold bars tend to have slightly larger mark-ups over the current gold price. It’s like paying a small extra fee for the convenience of holding a smaller bar. But in the grand scheme of things, it’s a pretty sweet deal.
So, whether you’re dipping your toes into gold investment or you’re a seasoned pro, don’t overlook the allure of gold bars. They offer you a simple and potentially rewarding way to join the golden club of investors.
CMIGS: Your Gateway to Gold and Silver Investing
CMIGS is all about trading in precious metals, which includes gold and silver, of course. But wait, there’s more – they also dabble in platinum and palladium. Now, here’s the thing, platinum and palladium aren’t typically seen as precious metals; they’re mainly used for industrial purposes. So, unless you’re a pro in the world of platinum and palladium, you might want to focus your attention on the golden and silver opportunities.
Now, when it comes to fees, CMIGS keeps things pretty standard. The fees for your gold and silver trades might vary depending on what you’re trading and the specifics of the transaction. But don’t worry, these fees are right in line with what you’d expect in the industry. No surprises here!
Golden IRA Opportunities
CMIGS isn’t just about buying and selling precious metals; they’ve got a little something called Gold and Silver IRAs up their sleeve. These special retirement savings accounts let you stash your wealth in gold, silver, and other precious metals. And guess what? CMIGS makes it easy.
When you opt for a Gold IRA, you’ll have to deal with a few fees like an annual administrative fee, an annual storage fee, a setup fee, and a transaction fee minimum. These fees are pretty competitive, meaning they’re right on par with what others in the industry charge.
CMIGS offers a whole world of opportunities when it comes to precious gems. Whether you’re after gold, silver, platinum, or palladium, they’ve got you covered with fees that won’t break the bank.
Investing Your Way: The Self-Directed IRA by CMIGS
Back in 1974, Congress rolled out the Individual Retirement Arrangement (IRA) law. It’s like a financial superhero, allowing your savings to grow tax-free. For “Traditional IRAs,” you can often deduct your contributions from your taxes, and your earnings stay untaxed until you decide to make withdrawals, usually in your retirement years when tax rates tend to be lower.
As of today, the annual contribution limit for IRAs is $6,000. But here’s a cool perk – if you’re 50 and a half years old or older, you can toss in an extra $1,000. It’s a little reward for getting wiser with age.
Traditional IRAs: Letting Custodians Call the Shots
With Traditional IRAs, you usually let the IRA custodian handle all the investment decisions, as long as they stick to low-risk options. Custodians often prefer this because it keeps things simple.
But guess what? The law doesn’t demand custodians to take charge of the investment decisions. Sometimes, you might have a better grip on your investment goals and plans for your IRA. So, the Self-Directed IRA came into the picture. Here’s where things get exciting.
Self-Directed IRA: Taking Control
With a Self-Directed IRA, you’re not just along for the ride – you’re the captain of your financial ship! You get to decide where your IRA funds go. This opens doors to investments that traditional custodians might hesitate to venture into.
So, if you’ve got a clear vision for your IRA and you want to call the shots, a Self-Directed IRA is your ticket to financial empowerment.
Golden Opportunity: Investing in Gold IRAs
IRAs, or Individual Retirement Arrangements, have been around for a while, and they’ve seen their fair share of changes over the years. One significant development was the birth of the Self-Directed IRA, allowing investors more control over their retirement funds.
Now, when it comes to IRAs, the law has always insisted that a third-party custodian holds the assets. This custodian acts like a financial guardian, making sure your investments play it safe – usually sticking to bonds, stocks, and money market accounts. It’s all about keeping things low-risk.
1997: A Game-Changing Year
The law decided to shake things up and allow certain IRAs to venture into the exciting world of precious metals. Initially, it was all about US gold and silver coins. But soon enough, the doors swung open for gold, silver, platinum, and palladium bullion.
These special IRAs go by the name “Gold IRAs,” and they’re set up as self-directed IRAs. This means you get to call the shots when it comes to investing in precious metals for your retirement.
In conclusion, CMI Gold and Silver stands as one of the pioneers in the precious metals industry, with a rich history dating back to the 1970s. Their commitment to honest, straightforward service and their extensive gold buying experience in dealing with gold, silver, platinum, and palladium make them a trustworthy choice for investors.
This CMI Gold Silver review concludes that whether you’re a seasoned investor or new to the world of precious metals, CMI Gold and Silver provides a reliable platform to safeguard your wealth and explore the opportunities that come with investing in these timeless assets. With CMI, you can confidently navigate the exciting world of precious metals and secure your financial future with confidence.
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