How to make money in Precious Metals (5 Steps)

The main four precious metals that you need to concern yourself with are Silver, Gold, Platinum and Palladium. When thinking of investing in these commodities. One needs to understand the industries that these metals are mostly used. Lets look at each one and identify their strengths and weakness pertaining to how the influence the market.
Silver has always been a solid investment. Staying relatively calm in the last 5 years, most experts agree that an investment in silver is one of the safest you can make. Silver has found its way into medical antimicrobial uses, making its future in the medical field very interesting.
Gold has always been the most sought-after precious metal in history. Over 161,000 tones of gold have been mined over the course of humankind. With this said we have seen gold jump to its highest price in history. Therefore, I would be hesitant to jump right in and invest a good amount of money in the gold market. Gold Fields Ltd and AngloGold Ashanti Ltd are the leading companies in gold mining. China has now become the top country in gold mining and is projected to drive down the price of gold in the up and coming years.
Platinum has been fairly commercialized over the past 10-15 year by celebrity jewelry designers. The fact is over 75% over the worlds Platinum is used in automobile emissions control. So when investing in Platinum do not think jewelry think auto industry. These are the forces really make the market move.
Palladium is a lesser-known precious metal but still worth the investment. Again, the main applications for Palladium is its use in catalytic converters. As the auto industry fluctuates so does the price of Palladium.
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How Do I Make Money Buying Silver Coins?

Educate yourself about coin collecting. Visit a bookstore or the library to look for guidebooks on building a valuable coin collection. Some examples are “Pocket Change or a Rare Coin Collection? How to Tell the Difference” by A Carter, “The Expert's Guide to Collecting & Investing in Rare Coins: Secrets Of Success” by Q. David Bowers, “Profitable Coin Collecting” by David L. Ganz, and “The World Encyclopedia of Coins & Coin Collecting” by James Mackay.
Study the coin grading system. Much of the value of silver coins lies in their condition. Sellers and buyers identify a coin’s condition with a grade that can range from 0, when you can hardly tell it is a coin, to 70, which means it is mint and uncirculated. Study the grading scale and learn to recognize the different grades of coins. For online information on grading, look at the Web sites of Silver Coins or the Numismatic Guaranty Corporation (see resources).
Learn the best places to shop for bargains. Virtual auctions, such as those on eBay, offer a wide selection of coins for sale at good prices. Also check out Internet coin dealers such as Golden Eagle Coins, which offers a wide selection of coins in many different grades. Before any purchase, do your research in coin guidebooks and be sure the coin you want to buy is worth more than you plan to pay for it.
Network with other collectors. Join a coin collectors’ club in order to learn from others with more experience buying and selling silver currency. The American Numismatic Association is a nationwide society that works to educate its members on the ins and outs of coin collecting. Coin shows are another good venue for finding and networking with other collectors. The Web site Festivals and Shows has a calendar of coin shows around the nation (see resources).
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