When people come to buy gold at the Doylestown Gold Exchange, owner Greg Glemser offers them a history lesson.
Until 1964, quarters had silver in them. Fifty years ago, a quarter would have been worth, well, a quarter of a paper dollar.
But because of the silver in the coins, quarters from that era have grown in value. A dollar will buy you half a gallon of gas these days. The money from a silver quarter will fetch you nearly twice that amount.
Still, Glemser cautions people who visit him for a precious metal investment consultation that they shouldn’t buy gold or silver with the expectation that they’ll make money.
“It’s basically what’s called preserving your wealth,” he says. It’s the idea that “I want my $100 today to be worth $100 next year. You’re not really investing to make money, you’re investing to preserve the money you have.”
Glemser says as people research gold buying, they learn that it’s not that uncommon.
“They start to realize this is something that’s done by a lot of people around the world, it’s done by governments,” he says. “India, China, Japan…they’re buying gold as fast as we can produce it.”
Glemser says potential buyers can find out the price of gold and other precious metals at basically any given time. Doylestown Gold Exchange keeps a real-time tracker on the home page of its website.
“Silver and gold, you know the price of it 24/7, 7 days a week, 365 days a year,” he says. “With a watch or a ring, it’s worth whatever people want to pay.”
And once you buy, Glemser suggests putting your gold away in a safe.
“Don’t watch the market every day. You buy it and it’s your last resort,” he says.
For more than 20 years, Doylestown Gold Exchange has offered honest, trustworthy service to Bucks County gold buyers. Contact us today to learn more about how to invest using gold.