Buying and investing in physical gold requires you to make more than a few decision. The answers to these questions depend upon your financial and personal goals and reasons for buying gold. What kind of gold should you buy? Where can you buy physical gold and get the best price? How can you safely have gold delivered to your home and keep it safe?
Investing in precious metals such as gold and silver can be thought of as a long term investment that both protects your investment dollars with something real and tangible but also as an investment that is often used to hedge inflation. One aspect of becoming a gold owner that not too many serious investors talk about is the shear thrill of owning some of these valuable metals. Try not to discount the awe factor that you will experience the first time you hold an ingot of gold in your hand or a shiny American Eagle. Human beings have always been attracted to these precious metals and this is one aspect of why they are so valuable to us. Owning even a couple of piece of gold is something on almost every serious investor's bucket list so don't be shy about your desire to own gold.
The type or form of gold that you will buy will depend upon a few factors. You should think about the future and what you might possibly do with your gold. Will you hold onto it and cash out when the economy gets better or are you hoping to use it as an investment that you will draw from over time? Your options are to buy either coins, of where there are many different types, or bullion or ingots. All different types of gold and ingot or bars of gold are readily available to you but you will wind up paying more for gold coins than you will for ingots, typically. The minting process and the collectible value often dictates a higher price than gold bars. You might consider a combination of both coins and bars to diversify your portfolio of precious metals as well as look into different metals to capitalize on the price fluctuations and growth potential of each kind of metal. Owning various weights or values of coins or bars is also recommended. This allows you some flexibility in the future if you decide to sell some of your gold.
As an example, imagine that your dollar is your investment. You might want 2 quarters, three dimes, three nickels and five pennies instead of simply having a dollar in your hand. If you were to buy one large gold ingot you are stuck with having to liquidate the entire piece of gold if you want to extract a small portion of your investment in the future. While gold is often looked at as a long term investment, events occur in life where you might want to cash in only a portion of your investment for an emergency, retirement or to invest in something different in the future. Keep this in mind before you invest in gold.
Gold can be bought in many different places across the country. Finding the right gold company for you should be done very carefully to ensure that you get the best price as well as that you're dealing with a reputable company. You will find that the price point for buying gold from a reputable company might be a little high if you only want to buy a few coins or smaller pieces of bullion. Try not to be offended. It is necessary for these companies to make a profit and smaller sales simply are not profitable enough for them.
If you have a smaller investment that you want to put into gold then you can look for a local store that sells gold. The price that you're going to pay might be higher per ounce but it's a good way to begin investing in gold. Alternately, you can search auction sites for certified gold. Be careful and do your homework, though. Investing in gold can be thrilling but avoid the temptation to buy something that looks too good to be true when dealing with faceless names or companies that are unknown.
Storing your gold once you've purchased it leaves you with a few options. Depending upon how much gold you buy, you can choose to store your gold in your house, in a safe-deposit box at your local bank or with the gold company that you purchased your gold from. If you are buying gold and other precious metals in the form of an IRA, the gold is held by the gold company and you are charged a low yearly fee for this service. Look for a company that charges a low flat fee and you will save a lot of money over the lifetime of your retirement account. There are companies out there that offer this service so be wise and look for this option.
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.
Investing in gold might sound a little complicated at first but learning about investing in gold and precious metals is interesting. You might find that as your knowledge grows you wish to learn more about the precious metals market. Owning such metals is a unique experience and one that every investor should experience. Whether you're hoping to make a profit from investing in gold or you simply wish to hold an investment that you can feel with your hands and see with your eyes, gold is the perfect investment vehicle. Experience what it's like to own gold and you will never look at investing the same again.
Investing in precious metals such as gold and silver can be thought of as a long term investment that both protects your investment dollars with something real and tangible but also as an investment that is often used to hedge inflation. One aspect of becoming a gold owner that not too many serious investors talk about is the shear thrill of owning some of these valuable metals. Try not to discount the awe factor that you will experience the first time you hold an ingot of gold in your hand or a shiny American Eagle. Human beings have always been attracted to these precious metals and this is one aspect of why they are so valuable to us. Owning even a couple of piece of gold is something on almost every serious investor's bucket list so don't be shy about your desire to own gold.
The type or form of gold that you will buy will depend upon a few factors. You should think about the future and what you might possibly do with your gold. Will you hold onto it and cash out when the economy gets better or are you hoping to use it as an investment that you will draw from over time? Your options are to buy either coins, of where there are many different types, or bullion or ingots. All different types of gold and ingot or bars of gold are readily available to you but you will wind up paying more for gold coins than you will for ingots, typically. The minting process and the collectible value often dictates a higher price than gold bars. You might consider a combination of both coins and bars to diversify your portfolio of precious metals as well as look into different metals to capitalize on the price fluctuations and growth potential of each kind of metal. Owning various weights or values of coins or bars is also recommended. This allows you some flexibility in the future if you decide to sell some of your gold.
As an example, imagine that your dollar is your investment. You might want 2 quarters, three dimes, three nickels and five pennies instead of simply having a dollar in your hand. If you were to buy one large gold ingot you are stuck with having to liquidate the entire piece of gold if you want to extract a small portion of your investment in the future. While gold is often looked at as a long term investment, events occur in life where you might want to cash in only a portion of your investment for an emergency, retirement or to invest in something different in the future. Keep this in mind before you invest in gold.
Gold can be bought in many different places across the country. Finding the right gold company for you should be done very carefully to ensure that you get the best price as well as that you're dealing with a reputable company. You will find that the price point for buying gold from a reputable company might be a little high if you only want to buy a few coins or smaller pieces of bullion. Try not to be offended. It is necessary for these companies to make a profit and smaller sales simply are not profitable enough for them.
If you have a smaller investment that you want to put into gold then you can look for a local store that sells gold. The price that you're going to pay might be higher per ounce but it's a good way to begin investing in gold. Alternately, you can search auction sites for certified gold. Be careful and do your homework, though. Investing in gold can be thrilling but avoid the temptation to buy something that looks too good to be true when dealing with faceless names or companies that are unknown.
Storing your gold once you've purchased it leaves you with a few options. Depending upon how much gold you buy, you can choose to store your gold in your house, in a safe-deposit box at your local bank or with the gold company that you purchased your gold from. If you are buying gold and other precious metals in the form of an IRA, the gold is held by the gold company and you are charged a low yearly fee for this service. Look for a company that charges a low flat fee and you will save a lot of money over the lifetime of your retirement account. There are companies out there that offer this service so be wise and look for this option.
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.
Investing in gold might sound a little complicated at first but learning about investing in gold and precious metals is interesting. You might find that as your knowledge grows you wish to learn more about the precious metals market. Owning such metals is a unique experience and one that every investor should experience. Whether you're hoping to make a profit from investing in gold or you simply wish to hold an investment that you can feel with your hands and see with your eyes, gold is the perfect investment vehicle. Experience what it's like to own gold and you will never look at investing the same again.
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