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.
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 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.
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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