American Bullion is proud to announce the winner of the 2020 Annual Scholarship Essay Program! If you are considering entering or wondering how to win a scholarship of your own, read the essay below to learn more. Winners are selected from qualified entrants each year, and the entry of a winning student can help you learn how to get a scholarship of your own.
A college scholarship of $1,000 has been awarded. Well over 1000 applications were received in total and the talented student below was awarded a scholarship worth $1,000. Applicants were asked to write an essay answering the question, “Which will perform better in the next metals rally, gold or silver?” Participating students offered a wide range of viewpoints, each with its own approach and opinion. American Bullion is proud to award this scholarship to the deserving student below. The 2020 winner is:
Cassidy Kaylee Kohmann – Grove City College, Grove City, Pennsylvania
Nevtan Akcora, Co-Founder and President of American Bullion said, “I am very happy to see the number of applicants to our annual scholarship contest continue to increase each year. And I am very excited to see that so many millennials understand the importance and potential of alternative investments, such as gold and other physical precious metals. Again, I’d like to thank all of the participants for their submissions in this year’s competition and wish the best for all in their academic endeavors and beyond.”
Winners’ Thoughts & Essay
Cassidy Kaylee Kohmann
“I am majoring in accounting, finance, and Biblical Studies at Grove City College. I have played on the varsity volleyball team for two years, am the Accounting Society secretary, and the treasurer of my sorority. Additionally, I enjoy volunteering in a community mentorship program. Through my business classes and internship experiences, I have developed a passion for serving and helping others with financial literacy and planning. I am thankful to the American Bullion for this scholarship opportunity to further my education and ability to improve today’s business environment. “
“Which will perform better in the next metals rally, gold or silver?”
Since the discovery of gold, society has placed enormous value on it for its beauty, rarity, and association with wealth, and people used gold as currency because it always had value in every trade. After researching the history of gold and silver prices, gold will likely do better than silver at the next metals rally because of its historical increase in price, especially since 2005. The price of gold has tripled since the early 2000s, whereas silver spiked in 2011 but came back down to the previous price. Silver is volatile and not as reliable as gold over a long period of time.
As a company that helps people invest for retirement, gold would be a much better investment because it has proven to outperform silver over time. Additionally, silver is mined in much more volatile parts of the world where political unrest and economic markets are just emerging. Silver could become nonexistent for many investors, which could increase the prices of silver, but long term would cause silver to be extraneous. Silver would become much more difficult to mine. While increased demand increases the prices, silver would eventually become stagnant or disappear because people would not possess it. If people cannot continue to purchase or grow silver as an investment, it will plateau.
Because COVID-19 and political heat in the US have become such a focal point, people will tend to want to put their money in safer investments, and, therefore, gold will be more desirable, increasing its value. Premiums have been on the rise with silver price increases as of late, and that makes the overall price of silver worth much less. If premiums are high, people will be less likely to invest in silver.
In regard to inflation, gold increases much faster than cash and has the chance to grow exponentially in this recession because prices will begin going up with more money in the economy. Throughout time, gold has been able to ride out economic depressions, meaning gold has a high likelihood of doing well even in the world’s current economic state. While the stock market fluctuates daily gold stays somewhat consistent and will likely rise when the market begins to grow. Gold has done well through the pandemic.
Lastly, people have always considered gold valuable throughout history, making it valuable and dependable for retirement accounts and long-term safety. Gold is an extremely precious metal because it is chemically safe and has longevity, whereas silver tarnishes. Governments and individuals readily identify gold as valuable in all times, evidenced by sayings such as “the gold standard.” This term is often used as a metaphor to identify other things as high value. The emotional draw to gold continues across the world and causes many to want to own it for its beauty and for its worth during the worst economies and the best. Gold will always be deemed as more valuable and beautiful compared to silver in society.
While silver might see spikes as an investment, gold has much more consistency and long-term value. Gold adds diversification to an investment portfolio and provides liquidity during difficult market periods, where someone might not want to sell their stock investments when they are down. Gold provides a fall back even when US currency or world currencies’ values are dropping and rising.
The views and opinions expressed in the above essays are those of the authors and do not necessarily reflect the views of American Bullion, Inc., its affiliates, or its employees. American Bullion does not guarantee the information’s accuracy or completeness, and does not recommend that the information serve as the basis of any investment decision.
Although the information in this commentary has been obtained from sources believed to be reliable, American Bullion does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. American Bullion will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.
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