If you want to get started in the gold buying market, you’re not alone. In fact, many people across the country are beginning to see the value of this investment—and how it has the potential to grow in future years. However, getting started isn’t always easy, especially if you’ve never purchased gold or silver coins before.
Investing in Coins? Follow These 5 Gold Buying Tips
1. Physical Gold
Purchasing gold provides insurance if the current monetary system were to crash. However, buying it on paper won’t help you if that happens. Instead, you should always purchase physical gold, such as bars, numbers, and hallmarks.
2. Direct Ownership
Similarly, you should have direct ownership of your gold. If you purchase small amounts, such as in the form of gold coins, keep it in a safe place nearby. If, however, you choose a storage company, make sure you remain the owner of the gold.
If you want to purchase gold, never do so with credit. Instead, save up enough money and purchase your preferred amount. This is because the market is unpredictable and you may have to pay back the debt before the price of gold rises.
As you accumulate your savings, you may choose to purchase more gold than it would be advisable to keep with you. In this scenario, it should be stored with a storage company in a safe jurisdiction, such as Switzerland.
Finally, you should ensure you invest the right amount of gold. As a rule of thumb, only invest money you won’t need for the next five years. This gives the gold a better chance to rise in price before you need it.
If you’re interested in gold buying, turn to the professionals at American Coins & Gold. With six locations throughout New York and New Jersey, this rare coin dealer will help you get started. Contact a friendly team member today at (908) 575-9400 to learn more about their services, or follow them on Twitter for news and updates.