So you want to start investing in precious metals like gold and silver?

Great idea. I still remember when I began learning about commodities. It was back in 1972 during my second tour of duty in Vietnam. I received some very discerning news from my rich dad that read, "President Nixon took the dollar off the gold standard. Watch out, the world is about to change."

Because we thought we were smart, a fellow pilot named Ted joined me to cross 25 miles of sea into enemy territory in search of scoring gold from some naive locals.

We tried to bargain with an old woman in a tiny village. We began our trading salvo at $40 an ounce. Little did we know that spot was significantly higher at $55. The shrewd woman simple smirked and probably thought we were idiots. She wasn't wrong. She quickly educated us that the spot price of gold is the same across the world.

We were able to get back to base without any enemy detection. Unfortunately, we didn't achieve our mission of scoring some gold. However, we did get a real education on money.

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