Saturday, November 12, 2011

Why Not Give WEALTH This Holiday, Rather Than Plastic Crap from China?

After years of listening to her son and grandson attempt to convince her to convert her substantial financial portfolio of bonds managed by Charles Schwab to precious metals and related shares managed by her son and grandson, The Doc's grandmother finally made the plunge in early 2010.
After watching gold rally from $1100 to nearly $2000, and silver from $16 to nearly $50, she has finally been fully converted. How do I know?
Grandma recently informed us that this year for Christmas, most of the family members would be getting a roll and a half of fresh silver eagles rather than the standard crisp Benjamans or needed appliance.
This has The Doc thinking- why don't more (or all) of precious metals investors give gold or silver bullion when giving a substantial gift to a loved one or family member for the holidays, birthdays, or a wedding?

While gold and silver eagle sales are always strong in December (especially the double-priced proofs), culturally, by and large, even most PM bugs are more likely to unwrap a Wii, digital camera, or 3-D HDTV than they are to find a new shiny gold buffalo or roll of silver Maples (or 1/10th oz gold eagle or Mercury dime for those with lower gift budgets) when opening a gift from a loved one. 
BullRun was The Doc's best man at his wedding in 2009 and he gave The Doc silver eagles as a wedding present- but that was from the man who knows The Doc better than anyone. Everything else was gift cards for plastic crap from China via Bed Bath & Beyond. The #1 and #2 wedding gifts in the US must be Bed Bath & Beyond gift cards and cold hard federal reserve debt notes. What happened to giving real WEALTH to the bride and groom??
And ff ANY gold and silver are to be unwrapped by most Americans on Christmas morning, more than likely its a new necklace or earnings for the Mrs, costing 2-3x the spot price of the metal.
In China and especially India, this is not the case. For weddings, the bride's parents give the lucky couple as much 24k gold as they can afford. Literally. It is reportedly not uncommon for an Indian bride to receive over 50 ounces of physical gold as wedding gifts. 
Here is one such fine example of a lucky Indian bride on her wedding day: (it looks like she literally could have worn her gold jewelry and nothing else and been more modestly dressed than the average American high school girl)

Rather than give out Bed Bath & Beyond gift cards for weddings, and plastic Chinese crap from Best Buy for the holidays, why don't SD readers consider giving physical precious metals as gifts for friends and family for birthdays, weddings, holidays, and special occasions?  In 3 years the stainless steel silverware from BB&B will be rusted, and the laptop from Best Buy that you got in line for at 10am on Thanksgiving Day will take half an hour to load Zerohedge.  Why not give a gift of WEALTH to your loved ones rather than consumerism trinkets pumped by the advertising industry? 
In 10 years your friend, loved one, or family member will thank you- trust us.