Gold @ $1150 Per Troy Ounce

Gold continues its impressive climb, today surpassing $1150 before dropping back a bit. Is investing in gold out of your reach at these prices? Don't forget the "Poor Man's Gold". I am talking about silver which is at $18.54 as I write this.

When someone mentions investing in silver, many people think of Silver American Eagles. The U.S. Mint has struck 25,006,500 year-to-date (as of yesterday) just to give you an idea how popular they are. Premiums over the spot price are up too. But don't forget pre-1965 U.S. Silver coins which are 90 percent silver.

Circulated U.S. silver dollars contain .7650 troy ounces of silver, half-dollars contain .3575 ounces of silver, quarters contain .1788 ounces of silver and dimes contain .0715 ounces of silver (14 dimes equal about one ounce of silver). This information should help you determine reasonable prices to pay for these coins when you know the current spot price of silver.

Gold Moving Toward $1000 Again

In case you haven't tracked the price of gold lately, it has been moving up nicely and is closing in on $1000 per ounce again. Last week, gold had some great sessions due in no small part to problems with a weakening dollar and troubles with U.S. Treasury bonds.

In the last 30 days, gold has gained almost $100 per ounce ($96.80 to be exact). When you consider that gold was priced at $255 per ounce in February of 2001, that is quite a run with almost a quadruple in price. A very recent article stated one expert's predication of $1400 per ounce in the next six months.

If investing in gold is getting a little too pricey for you, don't forget the "poor man's gold" - silver coins and bars. Silver has been having a heyday too lately and is knocking on the door of $16.00 per ounce. If you have yet to start investing in precious metals, seriously consider taking that first step now. Several experts say this ballgame isn't even in the middle innings yet.

Happy investing!