Thinking about investing your money in gold? Before you join the gold rush, there are a few questions you should ask, like;
How do you buy gold?
Should you buy gold coins or gold bars?
Where is the best place to buy gold?
The answers to these questions are in this post. So read on! You’ll find out why doing your homework is so important before making any kind of investment decision.
Q: How do you buy gold?
A: You can buy gold either in paper form through ETF’s or physical bullion (gold coins and gold bars). Most people prefer to go with physical gold as they feel more secure with something tangible they can have for themselves.
Q: Should you buy gold coins or gold bars?
A: If you’re more interested in collectible items, then gold coins are what you should look into. They come in all sizes (ounce, half ounce, quarter ounce, etc…) and every mint has their own design (Canadian Maple, American Eagle, American Buffalo, South African Krugerrand…). Coins are pretty, but gold bars are just as valuable. Gold bars are cheaper basically because they do not come with fancy designs. However, gold is gold and come time to sell, you will get the same amount for a coin as you would a bar.
Q: Where is the best place to buy gold?
A: The best place to buy gold is in a major city like New York. By buying in a major city you are more likely to get your gold at a price closest to market value. You will also have a better selection of bullion dealers to choose from. Make sure you research bullion dealers before you decide to buy from them. You want to be sure the business you’re dealing with is reputable. And never buy gold online from a website like E-bay or Amazon. You have no idea who you are really going with, and have no way of knowing whether or not what they are selling is legit.
Before you buy anything valuable, make sure you know enough about it to make a smart purchase. This post should give you some good starting tips, but don’t stop here! Research, research and you will be on your way to becoming a savvy investor ?