To purchase gold safely is the number one worry behind every conversation I had along with gold buyers as a gold agent. After years of buying and selling gold, You need to know that it is much more difficult than the business would have you believe.
In order to buy gold safely, you need to find someone you trust, someone who will put your requirements first and sell you gold securely. The problem is whenever you discuss investing and safety… it becomes a discussion of views more than facts. In my experiences, this is even truer in gold trading than broadly traded stock or even other more mainstream investments.
Therefore then, how do you buy gold properly?
In an one sentence answer — you do all your research on the precious metal you want to buy before you make any kind of calls to gold brokers.
In my experience as a gold broker – the people who bought the gold that no industry insider would ever own, were those who decided they will thought they should buy gold, then called a broker and discussed exactly what that should be and for what price. This may sound silly to some of you, but this was more true compared to not in the many conversations I had with people who had already purchased gold or another precious metal. All precious metal dealers and gold brokers have specific kinds of precious metals they tend to specialize in. They know these products properly. They have ready markets where each goes to buy and sell these gold coins and other precious metals. If you do your homework very first, then screen the gold dealers and gold brokers based on whether or not they sell what you are looking for, you will restrict your risk when buying gold considerably.
To do that, start by gold classification. Are you interested in gold coins? If so, are you interested in precious metal bullion coins or the many coins in the collectible’s market called numismatics? I will give you some advice immediately. If you are new or unsure associated with what the differences are, get informed. Find credible, objective sources of information (almost always from someone who does not sell gold or whatever these people suggest), from industry veterans, after that learn!
As a general rule, if you have not bought gold before, or have very little, I might stay in the gold bullion marketplaces. These gold coins have the smallest mark-ups, or premiums, and their prices are quoted online from several sources. I offer a few first of all on my website. Pick a couple of widely traded coins and store their prices. Get comfortable and buy a few.
Numismatic or collectible gold coins are rare coins with additional premiums over their weight in gold for the condition as well as the general lack of circulation (rarity). These types of coins are a lot like treasured art. They are worth only exactly what another buyer is willing to pay money for them. There are a lot of buyers so this just isn’t usually a problem but the prices vary by coin and many conditions including the collectible coins ‘market’ conditions. You really need to know what you are doing here. So , a person either have to get very educated or perhaps you need to have an honest, knowledgeable (lots associated with gold brokers do not know this aspect of the business very well – therefore just because they sell gold, doesn’t necessarily qualify them as experts), that you can trust to do this for you. Lots of money can be produced in this sector of the gold coin market. But again, if you want to buy precious metal safely, then this is not where I would start.
Finally, if your goal is to buy gold safely, you need to specify safely. Why are you buying gold? For more on Gold kaufen Kassel stop by our page.
If you are buying gold to turn a quick profit, then your definition of safely would be to buy gold that will increase in worth. Everyone wants this to happen, but if it really is your number one goal… it does recommend certain kinds of gold. With more than 45 mints around the world, and a large number of variations… defining this in more detail is beyond our scope here. If however , you are buying precious metal as an asset to hopefully shift and spread risk out of the equities market, then how much of your invest-able assets are you putting into precious metal and how long are you comfortable with it sitting there – regardless of short-term gold price increases or declines.
I don’t think I would get a lot argument that the equities market has not been a very forgiving place over the last few years for most investors. The precious metals marketplace is not very forgiving either. To be able to buy gold safely, you cannot prevent doing your homework if you want to minimize danger. There is no lazy mans path to riches. Today I would add, there is no lazy mans path to wealth preservation either.