We Americans tend to think of the ounce as the smallest practical unit of measuring weight — which is why some of us goggle at the price of gold, and pronounce it forever out of our reach.
Even the popular fractional bullion weights (one-half ounce, one-quarter ounce, and one-tenth ounce) can seem to be too expensive for casual gold investment. But don’t limit yourself that way, folks! Just because we love the ounce, don’t assume that everyone measures gold the same way.
We tend to forget that most countries use the gram, rather than the ounce, as their smallest day-to-day unit of weight. A gram is about the weight of a raisin or a paper clip, according to the classic Schoolhouse Rock song.
But it can also be the weight of a teeny, tiny gold bar.
Why investing gram by gram makes sense…
Now, before you sneer at the idea of buying a gram of gold, consider this: it’ll only cost about $40-$45 at the current spot price, though you’ll have to pay a small premium to the dealer (they have to make a profit). And get this: there are just 31.1 grams to the troy ounce.
Big deal? Yeah, it is.
Even if you can’t afford to buy gold by the ounce, given that it’s up there around $1,235, most of us can afford $40 a week. That’s about the cost of dinner out for the average family.
If you buy a gram of gold a week, that’s 52 grams a year — 1.7 ounces. Not bad, really.
Of course, you’ve got the option of saving up your money until you’ve got enough to buy an ounce, however long that takes. Meanwhile, gold’s probably going to be going up in value, while your savings account…well, let’s just put it this way: most savings accounts pay you bupkis.
I was recently shocked to realize that my own bank had lowered the interest rate on my account to 0.01% annual percentage yield. That’s one-one hundredth of a percent per year, folks. A penny per $100. Wow.
Meanwhile, gold has gone up about $70 in the past month. That’s over 5% in one month. No guarantees, of course, but what would you rather do: pile up the money in a savings account, or incrementally buy something that accrues 500 times more value than a savings account in one month?
That’s not 500%, mind you. That would be an increase of just six times, which is still substantial. I’m talking 100 times more than that, which comes to an intriguing 50,000% difference.
Now, that’s worth an honest Wow. See why I think buying gold by the gram is worth the effort?
How to Get Your Free Gram of Gold
And to help you get started, I’d like to recommend a company that will give you a free gram of gold just for signing up. It’s primarily a gold depository, so you don’t get the gram sent to you — they store it for you.
I like this company a lot and personally use them for part of my gold investing. Their commissions are ridiculously low, with a 0.8% maximum. They do have a charge for storage (0.01% per month with a $4 minimum, including insurance), but even factoring in this storage, it’s way less than most other dealers’ commissions alone.
Anyway, I recommend you check them out and sign up for a free account to get your free gram of gold. You can do it here:
OK, so now you see you CAN start investing in gold. I recommend that regardless of how much you have to invest, you spread your investments out over time. After all, Murphy’s Law says that the price of gold will go down right AFTER you buy your gold. Don’t worry about it — it’s just a law of nature.
Let me know what you think by commenting below… and especially if you taken ACTION. Have you signed up for your free gram of gold? Have you started investing in gold? I want to hear from you…