To buy gold safely is the number one concern behind every conversation I had with gold buyers as a gold broker. After years of buying and selling gold, I can tell you that it is much more difficult than the industry would have you believe.
In order to buy gold safely, you need to find someone you trust, someone who will put your needs first and sell you gold safely. The problem is whenever you discuss investing and safety…it becomes a discussion of opinions more than facts. In my experiences, this is even truer in gold investing than broadly traded stock or other more mainstream investments.
Furthermore, if your goal is to buy gold safely, you need to define safely. Why are you buying gold? If you are buying gold to turn a quick profit, then your definition of safely would be to buy gold that will increase in value. Everyone wants this to happen, but if it is your number one goal. It does suggest certain kinds of gold. With over 45 mints around the world, and thousands of variations. This defines this in more detail is beyond our scope here. If however, you are buying gold as an asset to hopefully diversify and spread risk out of the equities market, then how much of your invest-able assets are you putting into gold 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 much argument that the equities market has not been a very forgiving place over the last few years for most investors. The precious metals market is not very forgiving either. In order to buy gold safely, you cannot avoid doing your homework if you want to minimize risk. There is no lazy mans path to riches. Today I would add, there is no lazy mans path to wealth preservation either. I have spent the last few years putting together the information I believe will help you do just that. If not me, find someone to teach you and do it soon.
To do that, start by gold category. Are you interested in gold coins? If so, are you interested in gold bullion coins or the many coins in the collectible’s market called numismatics? I will give you some advice right away. If you are new or unsure of what the differences are, get educated. Find credible, objective sources of information (almost always from someone who does not sell gold or whatever they suggest), from industry veterans, then learn!
As a general rule, if you have not bought gold before, or have very little, I would stay in the gold bullion markets. These gold coins have the smallest mark-ups, or premiums, and their prices are quoted online from many sources. I offer a few for starters on my website. Pick a few widely traded coins and shop their prices. Get comfortable and then buy a few.
People who are investing in gold now are people who are just trying to diversify their portfolio. To buy gold safely is the number one concern behind every conversation I had with gold buyers as a gold broker. Download Gold Bullion Online When a high-quality stock reaches a certain level in price, it will split.