The best investors have been aware of the importance of gold. It ranks as one of the most important investment options and a strong way to preserve wealth against factors such as recession or a banking crisis. Owning gold means having a valuable asset to protect wealth and purchasing power for years to come. It is a better, more stable form of money.
Why & How You Should Buy Gold
Some of the most successful individuls and financial firms around the world invest in gold. It has been considered as one of the most valued commoditis for centuries, providing value and benefits to savers as well as investors.
Gold and gold bullion have various forms. An investor can buy bars, coins, and rounds in almost any size and quantity. Buyers often get a discount for buying in large quantities or bulk. The yellow metal is produced by mints in various sizes, shapes, and weights. It can be purchased from a local merchant or you can order online from a reputable dealer like Money Metals Exchange. Most buyers opt for the security, convenience, and safety of buying from respected online dealers because they frequently have the best prices and usually are not required to charge sales taxes.
Factors to Consider Before Buying Gold
1. Premium over Spot
Premium over gold spot price refers to how much more a product is worth over the melt value of gold present in the gold bullion coin, round, or bar. Factors such as their minting source, age, rarity, and collector demand play a critical role when valuing a gold product outside its melt value.
2. Purity
Though most bars, coins, and rounds manufactured across the world, be it in Austria, USA, or China, contain 99.9% pure gold, a few mints like the Royal Canadian Mint surpass the typical purity levels by using 99.99% pure gold in their products.
3. Susceptibility to Counterfeit
Precious metals investments have always been the target of counterfitters looking to make a quick buck.
4. Stackability
Storing gold bullion products can take up considerable space. As secure storage space is a limited resource, products must be chosen with care. Stackability of the products purchased will affect the amount/value you can store in a given area of the limited secure storage at your disposal.
5. Brand/Series
Famous coin series and coins from respected mints are easily liquefiable due to constant demand for products.
The Cheapest Way to Buy Gold
There are many ways to buy and own gold. Coins and bars offer a popular but costly way of doing so. The coin’s price is only one element of its total cost. Think about how much money you will get back when you sell. Also add the cost of shipping and insuring bullion bars or coins kept at home.