DENSION, Texas (KXII) – Gold has risen from $35 per ounce in 1971, when the United States was on the gold standard, to about $4,300 per ounce as of last week. A coin worth $5 in 1908 would be worth $800 today if sold.
“This is the historical transfer of wealth, the likes of which we’ve never seen before,” said Tony Arterburn, CEO of Wise Wolf Gold, Silver, Bitcoin,.
Silver recently broke its all-time high after 45 years, surpassing $53 per ounce. The previous record of $52.50 was set in 1979.
“Silver broke its all-time high it took 45 years it’s the only commodity that I know of that I was born at the end of 1979 that’s when silver hit its last all-time high of $52.50,” Arterburn said. “And now we’re at a point where it broke $53 plus I think we’re just getting started.”
Factors contributing to silver’s rise include countries such as China and Russia purchasing the metal as a reserve for their currencies. Silver’s industrial applications also drive demand, as it is used in solar panels and electronic devices due to its thermal conductivity properties.
Arterburn said people invest in gold and silver not necessarily as investments, but as value protection against currency devaluation.
“Gold retains its value because gold is money. And when a country or an entity removes the currency that they have from or decouples from gold, it becomes a fiat currency, it’s not worth anything,” he said.
He compared purchasing power over time, noting that $100 worth of silver purchased five years ago would retain or exceed its original value, unlike cash.
“Is your $100 worth the same today as it was five years ago? Of course not,” said Arterburn. “But if I bought $100 in silver five years ago, I’ve retained my value as a matter of fact, I’m doing a little bit better, maybe in purchasing power. Same thing with gold.”
For those considering selling precious metals, Arterburn advised doing research and consulting trusted dealers.
“Have a trusted dealer look them over, and take your time,” said Arterburn.
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