Precious metals have been used to protect wealth for a very long time. In fact, gold and silver were wealth for thousands of years. Today, the world’s nations have moved to fiat currency – or money based on faith – but that doesn’t mean gold, silver and other precious metals aren’t valuable. They’re more valuable than ever. They just don’t back our currency any longer. They’re used to protect wealth against inflation and devaluation, and to build wealth through smart investment decisions. Buying precious metals in 2014 is an excellent option for those who need some added safeguards.

Gold in 2014

Buying precious metals means knowing your options. One of the most common options available is gold. It’s the “original” precious metal in many ways, and is what most people think of when they imagine treasure or wealth. Gold coins and gold bars are often depicted in movies and books. If you’re interested in adding gold to your portfolio, you can do so in a number of ways. You can invest through ETFs if you like, or you can buy gold coins, bars, rounds or even mining stocks. Coins and bars are the better options, as they’re available in both small and large sizes, ensuring that you can put your money into an investment that’s the right fit for your needs.

Silver in 2014

For a very long time, silver, not gold, was the backing for currency and before that it was used as currency itself. Silver’s value was almost equal to gold as well. It is only in recent years that silver has been deemed “second fiddle” to gold. Actually, the lower value of silver is good news for investors. You can purchase far more silver than gold for the same amount of currency. On top of that, silver is expected to see the most growth in terms of value per ounce of any precious metal in the coming year. Buying precious metals with silver investments is a sound idea, and you can take advantage of coins, bars, rounds, ETFs, mining stocks and more with this metal as well.

Palladium in 2014

Palladium is less well known than gold or silver, but it is an option that any investor should consider when buying precious metals. Palladium is part of the platinum metals group, but doesn’t have the same price as its more expensive cousin. It’s used extensively in the automotive industry, where it works in catalytic converters to reduce emissions. Palladium is expected to increase dramatically in price during the coming year, thanks to increased demand and ongoing supply problems. The UK predicts a shortfall of more than 700,000 ounces in meeting the 10 million ounce demand for the metal.

Platinum in 2014

Platinum is one of the lesser-known metals, and is primarily thought of as a component in jewelry making. However, it’s much more than this. Platinum is used in the automotive industry and in many other places as well. It’s one of the most expensive metals on the market, thanks to its small supply and high demand, and makes an excellent option for those seeking the most “bang for their buck” when buying precious metals.

In the end, you have several different options available to you in terms of precious metals for your portfolio. The key is to work with an expert financial advisor and a reputable precious metals broker to ensure that you’re making the right decisions and buying at the right price. A good broker will provide you with metals as close to the spot price as possible, maximizing your investment.