ASHEVILLE, NC / ACCESSWIRE / February 10, 2021 / Precious metals have a long history as investments or stores of wealth-including in recent years when many Self-Directed IRA investors employ precious metals in a retirement portfolio. A recent post at American IRA, a Self-Directed IRA administration firm based in Asheville, NC, recently highlighted both the recent and long-term history of precious metals as an investment.
In the post, American IRA highlighted the unique properties of precious metals that have made them effective as stores of wealth. For instance, metals like gold and silver are malleable enough to be easy to coin. They are also resistant to corrosion and rust, giving them durability that is effective as currencies.
But in recent years-particularly in the 1970s-precious metals have decoupled from the currencies of many nations. In 1971, U.S. President Richard Nixon suspended the convertibility of the U.S. dollar to gold. Since then, the dollar price of gold has moved up-to-the point that in 2020, it reached new historic highs.
This is not to say that investors should always expect precious metals to follow one track. After highs for gold around 2011, the precious metal did pull back for several years. But the post points to precious metals' track record as a "hedge" for many investors who want to avoid the ebbs and flows of the stock market and diversify assets in a retirement portfolio.
"Precious metals can be straight-forward," said Jim Hitt, CEO of American IRA. "But this post was an opportunity to clear the air about some misconceptions some people might have about their uses. It's important that investors understand what precious metals are and why investors seek them out."
According to Hitt, doing so helps empower investors to make the kinds of retirement decisions necessary when using a Self-Directed IRA. The post breaks down the history of precious metals in a way that puts these assets in context for the modern reader.
For more information about the post, visit www.AmericanIRA.com, which also includes a page dedicated to precious metal investing. For more about American IRA, dial the Self-Directed IRA administration firm by calling 866-7500-IRA.
About:
"American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals, and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents, or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties, or agreements made by any such person or entity and do not provide any recommendation on the quality, profitability, or reputability of any investment, individual, or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA."
SOURCE: American IRA, LLC