Video: How to invest in gold by buying real gold coins
If you're thinking about buying gold as an investment, there are a few things you should know beforehand. This great video covers all you need to know about buying gold or silver without making costly blunders.
To begin, while purchasing gold, you should concentrate on the most popular sort of gold - government-backed bullion coins. Because these investment-grade coins have no numismatic or collector value, you pay for the gold content plus a modest premium above the current price of gold.
The American Gold Eagle, which comes in four sizes, is the most popular gold coin in the United States. We recommend that first-time gold buyers start with a one-ounce piece. This coin has a face value of $50 and contains one full ounce of gold. Another popular alternative is the American Buffalo, but because it is a 24 carat gold coin, it must be handled with care.
When purchasing gold coins, you should consider the spot price of gold, the premium, and sales tax. A fast Internet search will yield the current spot price, which will change. For one-ounce gold coins, the premium is normally around 5%, and sales tax is rarely applicable.
Gold coins may be purchased safely from local coin shops or internet bullion dealers. Local coin stores usually provide the greatest pricing, but their range is restricted and the coins may be secondary market. Internet dealers are normally more expensive, but you will be able to shop and compare before making a buy.
When it comes to gold storage, store your coins in capsules or tubes and keep them in a personal safe or safe deposit box. Handle gold with caution since it is easily damaged and dented.
In conclusion, when purchasing gold as an investment, adhere to the most popular government-backed bullion coins, keep the spot price, premium, and sales tax in mind, and consider storing your gold in a secure location. With these guidelines in mind, you'll be able to buy gold with confidence and maybe even have some fun with it.