A fairly large and somewhat revealing survey was conducted in 2020 to determine with greater certainty just how many Americans own gold and silver. Since this is the question we’re looking to answer today, now is the perfect time to dive into the results. We also offer some quick tips on what to keep in mind if you’re looking to invest in gold or silver and you haven’t done so yet.
If you decide to include silver and gold in your holdings, make sure to work with a reputable precious metals dealer, such as First National Bullion. Carlsbad residents need to be able to consult professionals with specific expertise when they’re ready to invest in gold, silver, and other precious metals.
More Americans Own Silver than Gold
Gold IRA Guide conducted a survey that included 1,500 respondents ranging in age from 18 to 65 and older. The primary purpose was to learn more about gold and silver ownership in the United States. Among those questioned who said they owned one or both of these precious metals, more said they owned silver. In total, 11.6 percent of respondents said they owned silver. For gold, it was 10.8 percent. As for why silver is a bit more popular among Americans, price is one of the main reasons. Silver is generally more affordable than gold in physical form.
Gold Is More Popular with Younger Americans
If you compare results from a similar 2019 survey, the findings from the most recent assessment of gold and silver ownership in the U.S. indicate a clear preference among younger Americans. This becomes evident when demographic and age-specific filters are added. Among the younger age groups questioned, there was more likely to be a preference for gold ownership, especially among millennials. Part of the reason for this trend may be the tendency to gravitate toward gold during uncertain times. Maybe not so coincidentally, this survey took place the same year the pandemic began.
Most Americans Actually Don’t Own Either One
The survey included one other very important response option: “I don’t own either,” which made the results a bit more revealing. Overall, nearly 85 percent of respondents said they didn’t own gold or silver. This means the actual number of Americans actually owning either of these precious metals is on the low side.
Becoming a Gold or Silver Owner
If you’re on the fence about gold or silver ownership, there are some ways you can get started in a way that makes sense for you. Start by determining what works for your budget. For many people, it’s easier to buy physical gold or silver because there’s more certainty about what’s being purchased. Plus, you’ll be able to possess what you purchase or arrange to store it. Reputable sellers also typically provide documentation further attesting to quality, purity, and value. Also with gold and silver purchases, remember:
• You can start small with lower-priced purchases and gradually buy more later on
• An investment professional can provide advice more specific to your situation
• Gold and silver can be profitable if you strategically buy and sell
• At the very least, you’ll have physical assets with clear long-term value
When they’re looking for the best place to purchase gold and silver bullion, Carlsbad investors reach out to the trustworthy professionals at First National Bullion. We can answer all your questions and help you find all the information you need on how gold and silver can figure into your investment planning decisions. Give one of our experienced dealers a call today at (760) 253-8072.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.