Interview with David Ganz, author of The Essential Guide to Investing in Precious Metals

We recently had a chance to sit down David Ganz, author of The Essential Guide to Investing in Precious Metals to learn more about his book. David is managing partner and principal litigator in the law firm of Ganz & Hollinger, P.C. in New York City, and Ganz & Sivin, L.L.P. in Fair Lawn, N.J., has a practice that is focused on litigation, guardianship, land use and real estate, general corporate and municipal work. He is also an award-winning writer on a variety of topics, and is both the elected 29th Mayor of Fair Lawn, New Jersey, the 4th largest municipality in Bergen County, N.J. , and a Freeholder (County legislator) elected at-large in the 890,000 population County of Bergen, New Jersey’s most populous.

In his spare time, he is a coin collector. A life fellow (one of 200 voting members) of the American Numismatic Society, he was appointed by President Nixon to the 1974 Annual Assay Commission, the oldest continually functioning committee in the federal government (dating to the founding of the Mint in 1792). He served from 1985-1995 as an elected member of the Board of Governors of the American Numismatic Association, the largest, educational non-profit organization of collectors in the world. He became the organization’s 48th president in July, 1993, serving until August, 1995.

He has served as a consultant to the Canadian Olympic Coin Program (1973-76), the Moscow Olympic Coin Program (1976-80), for Occidental Petroleum and Lazard Freres in their 1981-2 Olympic Coin program effort, the 1985-6 Statue of Liberty Centennial Celebration, and many others. His legislative expertise has been tapped by Olin Brass, Memorial Mission Hospital (Asheville, N.C.), The Platinum Guild, the Dutch Mint, the Portuguese State Mint, and others, on coin and related matters over the course of the past 20 years.

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Tell us about your book and why someone should read it.

I have been involved with coins and Precious Metals for more than 50 years and I have been writing about it since 1965. This book takes the excitement of the Precious Metals market, applies it to coins and bullion items, and gives investors as well as collectors new tools work with. People collect coins because of an overwhelming interest in history, politics, government, economics, and intellectual stimulation. People invest in Gold, Silver, Platinum, and Palladium because they can sense the excitement that each of these Metals emanates and because of their long financial history that suggests future success.

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How did you get started investing in Precious Metals?

I started investing in Precious Metal as an almost ancillary role to collecting coins. That started in 1960, when I received an Indian head cent in pocket change and found out that my one cent investment was worth 25 cents . You had the ability back then to go to a bank, slide a dollar bill over the counter, and ask for a real Silver dollar in change. I did that and by the mid-1960s I was amazed to find that as the price of Silver began to walk the worth of the Silver dollars increased as well. I followed the Gold boom firsthand as the right to own Gold was gradually restored to Americans. I began to buy Gold coins where there was a significant value in the Gold but also a numismatic component that backed it up.

What advice do you have for someone just getting started with buying Precious Metals?

This is the right time to be in the market. The future holds endless possibilities for those who have enough liquidity to buy Gold, Silver, Platinum and Palladium with a long-term strategy in mind. I started making purchases as a kid but never thought that in my lifetime I would see such an opportunity for growth. I would hit the board, don’t stretch, and be sure to consider the numismatic component

What are your top Silver & Gold products?

My favorite product right now is the 5 ounce America the Beautiful “25 cent” legal tender coin — 3 inch diameter. Low mintage, high Silver content, and virtually limitless potential. For Gold, I like graded MS 61 and 62 Saints which have just a small premium over their Gold content but good numismatic value

Is now a good time to start buying Precious Metals or is it too late?

There’s never been a wrong time or a bad time to plunge into Precious Metals. Markets go up, markets go down, and sideways. But understand I’m not a trader: I hold my coins and Precious Metals for a long period of time. A number of years ago, I took a heavy position (for me) in Silver eagles which I bought for my IRA. I stayed in it for about a year and then traded them to the equities market, in retrospect a mistake. I probably bought in March 1977 for about $4.80 an ounce. It would’ve been a lot smarter of me to sit with the asset and hold it! Right now, I’m buying America the beautiful 5 ounce Silver coins I’m going to use them to plan my rare coin retirement.

“There’s never been a wrong time or a bad time to plunge into Precious Metals.” David Ganz – Click to Tweet

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