TRANSVESTIA

they would not know its value and would not therefore be able to accept it at a fair price. But gold can always be sold to banks, coin exchanges, jewelry manufacturing firms, etc., and they do know the going prices. You can buy gold coins from coin shops, but, once again, become ac- quainted with the going prices by checking other stores or ads in news- papers or the Wall Street Journal. If you do not have enough money at one time to get into the bags of silver coins but you can put aside a sum of money each month, I would suggest that every time you accumulate enough to buy an Austrian Corona or a Mexican 50-peso piece, you do so. Put it in the safe deposit box or some other completely safe place - where it would not be found even if a burglar went through the place. When you have accumulated enough to put it into silver you can sell gold, buy silver and have your value in a spendable form.

15. As I've tried to make clear in the foregoing, the problem today is to conserve assets rather than make profits. Of course, profits are always nice to make, but if you buy gold or silver and it goes up and you sell it to make a profit, what are you going to do with the proceeds of your sale? I have already indicated in the beginning why there is no other invest- ment better than gold or silver in these times, so you'd have to put it right back in again; but you would have paid sales commissions going in, out and back in again-brokers have to eat too. A good rule to remember (which I made up myself) is "You Don't Have to Take a Profit to Make a Profit." That means if you own something and it goes up, you don't have to sell it (convert it into paper dollars) to have a profit. You can leave it there and the potential dollar profit rests with it. Say you buy 3 gold Coronas for $165 each-you pay out $495. After a couple of weeks gold begins to climb and the Coronas become worth $170... $190... $210.... (They have already been as high as $205 and I bought some there.) If you sell at $210 you receive $630, or a profit of $135. Pretty good, you say. But if your object is to save your assets, what are you going to do with your $630? If you just continued to hold the coins and the price stood still at $210, let alone continuing to rise, you still have your "profit." You have made it but you didn't take it. Okay?

16. Another good thing about saving in gold to buy the silver (unless, of course, you want to invest in gold for its own sake) is that while you are waiting to accumulate enough value, the probability is that inflation will push the value (in dollars) of your gold up so that you more or less stay even with inflation. If you hold them in a bank account while wait- ing you are losing twice what you are earning, as explained earlier. Gold is a commodity which has intrinsic value. Paper dollars do not have