Dollar Cost Averaging with OWNx
OWNx is a great program to dollar cost average your silver purchases.
With OWNx, you can automatically save in silver for as little as $25 a week or $50 a month.
I like the dollar cost averaging approach of accumulating silver by investing equal monetary amounts regularly and periodically over specific time periods (such as $50 monthly). By doing so, more ounces of silver are purchased when prices are low and fewer ounces are purchased when prices are high. The point of this is to lower the total average cost per ounce of silver, giving you a lower overall cost for the silver purchased over time.
Once you have signed up for a FREE OWNx account, click “Start Saving” and you will be directed to the signup wizard. Fill in the required information. After you have selected a frequency and amount, you simply select the date you would like to begin saving.
You can now accumulate .999 pure physical silver at a ~7.8% premium over the OWNx Base Price after your instant rebate. Your effective premium could easily be reduced further with the OWNx Rewards Program where you can earn a rebate for sharing OWNx with others.
Your .999 pure physical silver is allocated and titled in your name, insured 100% and stored at First State Depository located in Delaware. Silver stored at the depository will be assessed a monthly storage cost of 0.05% (0.60%/year). This cost will be deducted from your OWNx account automatically each month.
After you have saved at least 20 ounces, you may choose to exchange them for various deliverable forms such as 1-oz. rounds, 10-oz. bars, 100-oz. bars or full 1000-oz. bars and have it delivered to you. An exchange cost is applied when taking delivery which includes fabrication, handling, shipping and insurance.
Protecting the purchasing power of your savings is important! Today, the purchasing power of all forms of paper wealth, including your money, is being threatened. The global financial crisis has exposed the flaws in the most dangerous monetary experiment ever undertaken.
Since 1971, when the United States cut its final tie to gold as a means to back our money, we have been living in a world dominated by paper money. The problem is paper money (also known as “fiat” money) derives its purchasing power by nothing more than confidence in the ability of each nation to maintain a “prudent fiscal policy,” i.e. refraining from the temptation to create too much money and credit.
Anybody that has not been living under a rock in recent years knows that the Federal Reserve has been debasing our currency at an alarming rate as it has printed more and more fiat money and expanded the credit of the U.S. to mind-boggling heights.
Time is running out for the U.S. economy and your should begin to protect your savings from this debasement. Never in the history of mankind has any economic system survived the kind of debasement governments around the world are doing now with our money.
