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 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.
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.
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.
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.
Gold storage is another aspect of purchasing precious metals that you should think about before you buy. If you are buying a small amount and you feel comfortable with storing it in your house this is acceptable. If you decide to go with an IRA investment account with the gold company that you purchase your precious metals from, they will provide storage for a fee. There are a few companies that provide a low, flat yearly fee for this service. This is where doing your research on gold companies can really save you a lot of money in the long run.
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.
Buying gold can be exciting as well as profitable. If you have ever thought of investing in gold or if you have never experienced owning gold that you can hold then the experience comes highly recommended. Building wealth and investing for the future are often serious business but nothing compares to the thrill of owning some real gold. Have fun learning more about gold investing and investing in precious metals and you may find that you have a new hobby that pays a big dividend in the long run.
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.
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.
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.
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.
Gold storage is another aspect of purchasing precious metals that you should think about before you buy. If you are buying a small amount and you feel comfortable with storing it in your house this is acceptable. If you decide to go with an IRA investment account with the gold company that you purchase your precious metals from, they will provide storage for a fee. There are a few companies that provide a low, flat yearly fee for this service. This is where doing your research on gold companies can really save you a lot of money in the long run.
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.
Buying gold can be exciting as well as profitable. If you have ever thought of investing in gold or if you have never experienced owning gold that you can hold then the experience comes highly recommended. Building wealth and investing for the future are often serious business but nothing compares to the thrill of owning some real gold. Have fun learning more about gold investing and investing in precious metals and you may find that you have a new hobby that pays a big dividend in the long run.
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Read this Regal Assets review and find out more about gold investing companies. Learn what you should look for in a reputable gold investment company.
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