5 Best Precious Metals To Invest In 2024

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If you want to find a great asset to invest in, you can almost never go wrong with precious metals like gold and silver. These have always been used as a form of currency and as a material for a variety of products. As a result, investors stock up on as many different precious metals as possible — in the hopes of making lucrative profits. 

In this time of record-breaking inflation and supply chain disruption, precious metals are more precious than ever before. This is even more true with banks starting to fail in 2024 due to the Fed, stock market, housing market crash, and many other factors.

Precious Metals Profits

Precious metals are being used to incentivize certain scenarios. Some precious metals companies are also giving a free silver bonus when you sign up in 2024. That could come in quite handy in the event of an actual silver squeeze, which is becoming slightly more probable due to increased inflation and political unrest worldwide.

Investors enjoy having assets that they can hold in their hands. Precious metals also have real value not tied to the increasing inflation of printed money, and even have industrial value. They are tangible investments unlike mass-printed paper money, electronic fiat currency, and ethereal cryptocurrencies. And we have all seen what has happened to the crypto market this year compared to the precious metals market.

What Are The Best Precious Metals To Invest In For 2024? 

It is good to have a variety of precious metals purchased to profit from, but some are more valuable than others. You always know that you have to have an abundance of the best precious metals to "diversify your portfolio" along with stocks, bonds, mutual funds, real estate, etc. 

Title loans can also be a great financial resource to utilize when you need some start up cash for your investments. And you could also always invest in fossil fuels and lithium as well, which are just as popular and scarce as precious metals in 2024.

But what are the advantages of the different top precious metals over other investments? 

This guide will help you decide the top precious metals to invest in this coming year. 

These Are The Top Precious Metals To Invest In 

The first thing to do is to find a great retailer to purchase your precious metals. Online retailers have become great sources for buying high-quality precious metals and having them shipped to your home. Investor crate is a top choice for first-time and seasoned investors purchasing precious metals like gold and silver. 

You also need to know how to care for your precious metals. Don't expect to sell them immediately — you will have to hold onto them for some time. Invest in a great cleaner for your precious metals and keep them secure in a safe. 

When you are choosing your top precious metals to invest in, consider scarcity and industrial applications as well. The more scare a precious metal is, or the more use it has in industrial applications, the more valuable and less volatile it can become.

Now let's look at the best precious metals to invest in for profits and financial security: 

Top 5 Best Precious Metals For Investors In 2024

1. Gold 

Gold has a variety of great uses and is the go-to precious metal for beginners and veteran investors. One of its uses is as a form of currency, so you can count on using it if there's ever a cash shortage, hyperinflation, or other financial crisis. 

As a result, during times of crisis investors and laymen flock to gold investments. At any given time, you can expect the price of gold to be high (per ounce). If you predict an upcoming financial crisis, you want to consider stocking up on as many gold coins and gold bars as you can. While there is no such thing as a "gold squeeze" and the United States isn't getting back on the gold standard anytime soon, the price of gold is going up right now due to inflation and geopolitical turmoil. 

This top precious metal is truly the gold standard for investors looking to hedge their bet against inflation in 2024!

2. Silver 

Silver is often thought of as a lesser metal to gold metals, as it's usually significantly cheaper. However, one should never underestimate this precious metal as it has many great uses and is more versatile than gold. This is loved by both beginner and seasoned investors due to its monetary, industrial, and investment applications. 

There is no particular time to buy silver metals aside from inflation. But as it has versatile uses, it's always in need — more than any other precious metal on this list, you should buy it whenever you can. Consider stocking up on as many silver coins and silver bars as possible for a smart investment. 

3. Platinum 

This is another great precious metal that is also traded on global markets. Platinum has a variety of uses, but it is particularly used in the automotive industry. 

However, since this is an industrial metal you would need to hold an abundance of platinum for it to be worthwhile to buyers. You should also be aware of the fact that the only major platinum mines are in Russia and South Africa. They have the platinum market pretty much cornered.

All of these factors make platinum a volatile and risky investment. It is better suited for seasoned precious metals investors. If you have a diverse portfolio of other precious metals, then you can consider adding platinum to the mix. 

4. Copper 

You may not think of copper as a precious metal, but it is more valuable than one would think. Copper is used in manufacturing, industrial, and medical services. 

If you want to get an idea of Copper's value as a precious metal, just know that people have gone through the trouble of melting down pennies or stealing copper pipes from homes or jobsites just to make some money. It also plays a large role in metal recycling and junk removal service motivation.

The fact that copper is overlooked as a precious metal is part of its advantage. It means that you can usually expect to find copper at an affordable price — whether you buy in ounces or pounds. 

If you can, you want to do your research on buyers who are interested in purchasing copper metals. Based on their estimated prices, you can decide how much copper you wish to stock up on. 

5. Palladium 

This precious metal is very similar to platinum and is used in the same industries. When you look at the prices for these two metals, they are often head-to-head and similar. 

A platinum investor likes to stock up on some palladium as well to be on the safe side. If you find that you are unable to sell platinum to a buyer, you might succeed if you offer palladium instead as a precious metal. 

Now let's look at some tips for investing regardless of the precious metals you choose. 

Investing In Bars 

As a general rule, investing in bars trumps investing in coins. These carry more weight (literally) and are higher in value. If you have the budget for a lot of precious metals, you want to consider keeping them in bars. 

Gold bars can start with 1 gram and silver bars start with 1 ounce. You can also buy precious metals bars in much higher weights — which is great for rapidly increasing the value of your portfolio. 

Larger buyers and organizations from major industries will always be on the lookout for bars. If you want to attract them, you should invest in bars. 

Investing In Coins 

Investing in precious metals coins also has tremendous benefits. These are loved by beginners and seasoned investors. These are easier to carry and to store. These gold and silver coins are often easier to liquidate. 

Unlike gold and silver bars, these are also great for collectors. If you want to sell to collectors, museums, galleries, etc. If you wish to sell to them, then you should consider investing in coins. There will also be precious metal exchanges that buy bars and coins but have a less strenuous process for purchasing coins. 

Diversify Your Precious Metals Investing 

Finally, let's return to diversifying your precious metals portfolio. A smart investor in precious metals will want to choose at least two metals from this list to invest in. 

Each precious metal has its place and you want to consider what is best for you. For example, you might want to stock up on gold coins to use as currency if you predict a financial crisis. Simultaneously, you might want to stock up on bars of silver and copper to sell to industries so that you can make a profit before and during a financial crisis. 

You could even invest in stocks and other securities that mine or manufacture precious metals, or purchase the commodities directly on an exchange.

Buy Profitable Precious Metals Today 

Now that you know what precious metals to invest in for the coming year, you are ready to start building your portfolio. Always speak to a financial advisor to guide you through the process of investing in precious metals. Make sure to share this content with other curious investors and coin collectors. This is your golden opportunity to get rich and hedge against inflation in 2024!

Read more about investing, gold, silver, and precious metals on our website. We publish a variety of helpful articles on precious metals to invest in and ways to start a valuable collection.

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