Surprisingly, the value of gold during the Great Depression remained constant, about $20.60 per Troy ounce. It dipped only briefly, in 1931, to about $17, then want back up to over $20.
Interestingly, in 1933, thanks to the so-called gold confiscation act (actually, executive order #6102) it became illegal for a U.S. Citizen to have gold.
Predictably, not everyone complied. And unbelievably, until President Richard Nixon closed the “gold window” in 1971, foreigners could exchange paper dollars for gold. Four years later it became legal for Americans to own gold again. So much for gold confiscation.
Could this scenario happen again? Positively, but not very likely. Gold confiscation certainly isn’t enough of a possibility for you to avoid the benefits of investing in gold. Too many people in too many places have too much gold in too many forms to make such an act effective. And more and more investors are looking to gold, and other precious metals, for a solid, financial future.
The value of gold grew about 400% during the last 10 years, and the three other precious metals bought and sold by United Gold Direct, silver, platinum and palladium, and precious metal coins, have kept pace. We’ve come a long way from the days of gold confiscation.
So, lots of companies have become interested, too. The wholesale gold market is packed with firms, large and small, new and old, seeking your investment dollars. United Gold Direct is headed by a group of some of the best investment minds in the world. Each was picked for the same reason, that they could help your investments grow at a faster rate than the market. And that’s how everyone at United Gold Direct treats your investment dollars.
United Gold Direct’s official business philosophy puts it this way: “United Gold Direct is passionately committed to building relationships that build value for our clients.”
United Gold Direct sells and buys gold, silver, platinum and palladium, and precious metal coins. These are strong markets and these precious metals are vital to virtually all segments of industry. The catalytic converters in automobiles have platinum and palladium at their core.
The diversity United Gold Direct obtains within the realm of these four precious metals alone is impressive. They carry all U.S. Mint bullion products, as well as the Mint’s gold, silver and platinum American Eagle coins, and similar coinage from other nations.
A common balance of precious metals and more traditional investments is 10-20 percent of a person’s investments be in the precious metals market. Investments in gold, silver, platinum and/or palladium, and/or precious metal coins, serves as a barrier against economic uncertainty.
Much has happened in the investment markets since the days of gold confiscation nearly 80 years ago. And the next 80, should be just as exciting.