Buying gold and investing in precious metals may leave you pondering more than a few questions. Making the decision to invest in gold, silver, platinum or palladium is a good idea but how you invest can sometimes leave new investors confused and frustrated. Where is the best place to buy gold and where will you get the best price when purchasing precious metals? Should you buy gold coins or should you choose gold ingot or bullion? Where should you keep your gold and what is involved with storing your investment?
Investing in gold or buying some gold has many benefits. Other than the financial benefit of being a good investment in a tangible asset that you can hold in your hand, buying gold is a good way to circumvent inflation. One of the most overlooked reasons why you might want to buy gold is simply for the experience. Owning gold and holding it in your hands is an experience that most of us have on our bucket list. This shiny gold metal will make you smile and many of us experience a feeling of wealth and security thanks to owning just a small amount of this precious metal.
Of course, the kind of gold you buy will depend upon your goals and the amount of gold you want to buy. Both gold coins and gold bullion are easily found, traded and sold around the world. Both forms of gold can be bought easily and are available in many different price ranges but you will often pay more for gold coins because of the minting process or the process of turning that metal into a collectible coin. Owning a mixture of both bullion, or bars, and coins is a good idea. Either way, having different weights and values of gold is important if you hope to liquidate a portion of you investment at a later date.
An easy way to look at this would be to imagine that your investment is a ten dollar bills. While having ten dollars is great, imagine that if you wanted to buy something you would need exact change or else pay someone to break that ten dollars into change. As a forward thinking investor you might ask for a five dollar bill, a two dollar bill, two singles, two quarters, three dimes, three nickels and twenty pennies or some combination such as this. Your initial investment might be a little more expensive because you're buying several different assets but in the long run, if you are planning on selling some of your gold it will be easier. On the other hand, if you have no plans of selling until the time is right and then liquidating your entire stock of gold then buying larger bars will be more economical.
You can buy physical gold in many different places in the country. You can talk to someone at your local bank or a local store that sells gold but if you are a serious investor you will want to talk to a gold investment company. They will often be able to give you the most competitive price as well as help you to make the right decisions based upon your investment needs and strategy. Many of these gold investment companies will only sell gold to you if you meet their minimum threshold for a sale. This might seem unfair but they offer competitive prices only because their profit margin is smaller so they have to make it up by selling higher quantities. Try not to get upset. It's nothing personal and they will be happy to do business with you at a later date.
If you only want to buy a few coins or smaller pieces of bullion, you might be able to find a smaller local coin dealer or you can search auctions for gold sales. The price isn't going to be competitive but it might be a way for you to begin accumulating some gold and experience what it is like to own gold. It really is an experience that will bring out the child in you and put a smile on your face.
Where to store your gold is something that you should think of before placing your order. After all, it's a good idea to know where your gold should be shipped as well as have a plan in place to secure your investment once it arrives. Small quantities of gold stored in your home is always an option but the risk becomes higher with larger quantities. Many people choose to store their gold at their local bank in a safe-deposit box. It is secure there and readily available during bank hours. If you want, the gold company that you bought your gold from can store it for you if you choose to open an IRA or retirement account with them. With gold companies becoming more competitive, it is possible to find one that offers a reasonable, flat fee instead of a percentage of the value of your investment dollars. Do your research and you can find some good deals out there on IRA accounts that include segregated storage also.
If you want your gold to be near and dear to your heart, you can choose to store your gold in your house. You should consider talking to your insurance agent about getting your gold investment insured and they can tell you how much that will cost as well as any requirements. Gold stored in a bank safe-deposit box doesn't require insurance and if you merely want to keep a couple of gold piece around the house, insurance might be optional for you but it is always recommended for larger amounts.
There really isn't anything quite as thrilling when it comes to investing as investing in precious metals. While stock and bonds and other forms of investments can be fun to research and make money from, owning gold satisfies an instinctual desire to be wealthy. Buying gold can be serious business but don't forget to enjoy the process. Buy a few pieces of gold and keep them around just for the thrill of it and enjoy learning more about investing in precious metals. It is a fascinating form of investing and one that every human being should experience at least once in their life.
Investing in gold or buying some gold has many benefits. Other than the financial benefit of being a good investment in a tangible asset that you can hold in your hand, buying gold is a good way to circumvent inflation. One of the most overlooked reasons why you might want to buy gold is simply for the experience. Owning gold and holding it in your hands is an experience that most of us have on our bucket list. This shiny gold metal will make you smile and many of us experience a feeling of wealth and security thanks to owning just a small amount of this precious metal.
Of course, the kind of gold you buy will depend upon your goals and the amount of gold you want to buy. Both gold coins and gold bullion are easily found, traded and sold around the world. Both forms of gold can be bought easily and are available in many different price ranges but you will often pay more for gold coins because of the minting process or the process of turning that metal into a collectible coin. Owning a mixture of both bullion, or bars, and coins is a good idea. Either way, having different weights and values of gold is important if you hope to liquidate a portion of you investment at a later date.
An easy way to look at this would be to imagine that your investment is a ten dollar bills. While having ten dollars is great, imagine that if you wanted to buy something you would need exact change or else pay someone to break that ten dollars into change. As a forward thinking investor you might ask for a five dollar bill, a two dollar bill, two singles, two quarters, three dimes, three nickels and twenty pennies or some combination such as this. Your initial investment might be a little more expensive because you're buying several different assets but in the long run, if you are planning on selling some of your gold it will be easier. On the other hand, if you have no plans of selling until the time is right and then liquidating your entire stock of gold then buying larger bars will be more economical.
You can buy physical gold in many different places in the country. You can talk to someone at your local bank or a local store that sells gold but if you are a serious investor you will want to talk to a gold investment company. They will often be able to give you the most competitive price as well as help you to make the right decisions based upon your investment needs and strategy. Many of these gold investment companies will only sell gold to you if you meet their minimum threshold for a sale. This might seem unfair but they offer competitive prices only because their profit margin is smaller so they have to make it up by selling higher quantities. Try not to get upset. It's nothing personal and they will be happy to do business with you at a later date.
If you only want to buy a few coins or smaller pieces of bullion, you might be able to find a smaller local coin dealer or you can search auctions for gold sales. The price isn't going to be competitive but it might be a way for you to begin accumulating some gold and experience what it is like to own gold. It really is an experience that will bring out the child in you and put a smile on your face.
Where to store your gold is something that you should think of before placing your order. After all, it's a good idea to know where your gold should be shipped as well as have a plan in place to secure your investment once it arrives. Small quantities of gold stored in your home is always an option but the risk becomes higher with larger quantities. Many people choose to store their gold at their local bank in a safe-deposit box. It is secure there and readily available during bank hours. If you want, the gold company that you bought your gold from can store it for you if you choose to open an IRA or retirement account with them. With gold companies becoming more competitive, it is possible to find one that offers a reasonable, flat fee instead of a percentage of the value of your investment dollars. Do your research and you can find some good deals out there on IRA accounts that include segregated storage also.
If you want your gold to be near and dear to your heart, you can choose to store your gold in your house. You should consider talking to your insurance agent about getting your gold investment insured and they can tell you how much that will cost as well as any requirements. Gold stored in a bank safe-deposit box doesn't require insurance and if you merely want to keep a couple of gold piece around the house, insurance might be optional for you but it is always recommended for larger amounts.
There really isn't anything quite as thrilling when it comes to investing as investing in precious metals. While stock and bonds and other forms of investments can be fun to research and make money from, owning gold satisfies an instinctual desire to be wealthy. Buying gold can be serious business but don't forget to enjoy the process. Buy a few pieces of gold and keep them around just for the thrill of it and enjoy learning more about investing in precious metals. It is a fascinating form of investing and one that every human being should experience at least once in their life.
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