Precious metals investing is a great way to diversify your portfolio, as well as protect against systemic risk. Trading in precious metals and mining stocks can be a great way to make (or lose) money. Personally I believe that precious metals, at least gold, should have at least a small place in everyone’s portfolio. The 16 books listed below will teach you about how to invest in precious metals and mining stocks, as well as about the history of precious metals in the monetary system.
1) The ABCs of Gold Investing: How to Protect and Build Your Wealth with Gold by Michael J. Kosares
The ABCs of Gold Investing, as the title suggests, is targeted at beginner precious metals investors. The book teaches about private gold ownership, the role of gold in portfolios as a hedge against both inflation and deflation, the history of gold since 1971, as well as the principles to use when choosing a gold firm.
2) Get the Skinny on Silver Investing by David Morgan
Get the Skinny on Silver Investing is a relatively short book (120 pages) that provides an introduction to investing in silver. David Morgan is a private economist, an precious metals internet radio host, a semi-frequent columnist in financial publications, as well as a silver bullion dealer. Some people believed the book reads too much like an advertisement, but it still has great information.
The Essential Guide to Investing in Precious Metals is exactly as it is billed to be, an introduction to the precious metals universe that includes gold and silver, as well as platinum and palladium. A great book for someone who is interested in understanding precious metals beyond simply gold and silver.
How to Invest in Gold & Silver: A Complete Guide with a Focus on Mining Stocks is one of best books on this list, and covers both the investment in gold and silver bullion as well as mining stocks. Don Durrett dives deep into the valuation of gold mining stocks and how to evaluate cash flow, the differences of resources and reserves, debt ratios, and the company’s capital structure.
5) The Case for Gold by Ron Paul
The Case for Gold is an analysis of gold as a monetary base (currency) in the banking system. This book is a reprint of the report of the 1971 US Gold Commission, in which Texas congressman and libertarian Ron Paul blamed the excesses in the monetary system (inflation) and banking system on the Federal Reserve and their money printing. An interesting book that is very different from mainstream consensus.
6) The New Case for Gold by James Rickards
The New Case for Gold is the most convincing contemporary book arguing for a return to a currency backed by gold, as well as the importance of gold for wealth preservation. James Rickards cuts through a lot of myths about gold, as well as presenting cohesive, eye opening arguments in favor of the yellow metal.
7) Gold Production from Beginning to End: What Gold Companies Do to Get the Shiny Metal into Our Hands by Mariusz Skonieczny
Gold Production from Beginning to End is an important book for anyone investing a large amount of their net worth in gold or investing in mining stocks. Mariusz Skonieczny manages to cover a wide range of topics ranging from the different types of gold deposits, mining methods, the processing of gold, as well gold purity standards and gold exchanges, and does all this in 108 pages.
8) The Platinum & Palladium Buyer’s Guide by Margaret Olsen
The Platinum & Palladium Buyer’s Guide is a top recommended book about platinum and palladium. This book is organized into three primary sections, the first is basic education about the metals and where to buy them, the second section provides a wide range of information on old and new coins as well as bars, and the third section is full of reference materials including historical prices, a glossary, and other reference information.
9) Palladium Investment: Your Step-by-Step Guide To Palladium Investment by Rafael Kennedy
As you can guess, Palladium Investment: Your Step-by-Step Guide To Palladium Investment is an introduction to palladium, its availability, and how to invest in it (both physically and nonphysically). This book is very accessible to beginners and more experienced precious metal investors.
10) Gold: The Once and Future Money by Nathan Lewis
Gold: The Once and Future Money is not a book about investing in gold per say, but it provides information that gold investors will find valuable. It is a history of gold as a monetary metal, and explains the value of using money that is backed by gold, and as the title suggests makes a case for returning to the gold standard.
11) The Power of Gold: The History of an Obsession by Peter L. Bernstein
The Power of Gold: The History of an Obsession is a book that should excite gold bulls and gold bugs. This book won’t make you money, but it is a history of gold written by one of the best financial historians and authors of the past century, Peter L Bernstein.
12) The Golden Constant: The English and American Experience 1560-2007 by Roy W. Jastram
The Gold Constant is one of the most unique books about gold, providing value to both the student of gold history and the investor. This book examines how the purchasing power in gold terms has fared since 1560 in England and since 1800 in the United States. The historical data in this book includes historical gold statistics (obviously), historic consumer and wholesale prices, as well as a calculation of the real price of gold.
Investing in Resources is an overview of investing in both precious metals and the wider commodities world. The sphere of natural resource investing is unique – it is extremely cyclical, with high capital requirements and many mergers and acquisitions. Highly recommended for readers without a strong understanding of commodity investing.
Junior Mining Investor is an exploration into the world of investing in junior mining stocks, including uranium, precious metals, and base metals. Investing in mining stocks (especially mining stocks) is often a higher risk, higher reward version of investing in precious metals themselves. Please consider the risks before investing in any junior mining stocks.
15) The Mining Valuation Handbook: Mining and Energy Valuation for Investors and Management by Dr. Victor Rudenno
The Mining Valuation Handbook is a complete textbook aimed at financial analysts and investors in the mining industry. At 624 pages, this book packs a punch but is a worthwhile purchase if you plan on making any substantial investments into precious metals mining companies.