That means you’re probably targeting gold items that are at least 91%, if not 99%, pure. Ensure any gold you purchase as an investment has the purity level to help it stand the test of time. Purity: The gold content in the coin, bar or piece of jewelry has a big impact on its value and worth as an investment tool. When buying gold, look for respected producers like Credit Suisse, the Perth Mint and the Royal Canadian Mint. Manufacturer: Because you’re making an investment, you’ll want to make sure you’re buying from reputable sources that will help your purchase’s value grow over time. And even if you don’t keep your gold at home, you’ll want to check in on your storage provider’s insurance policy to determine how it’s protecting your investment. This can add to the cost of your homeowners or renters insurance. Insurance: If you decide to store your gold at home, you should insure your gold to protect yourself against theft or natural disaster.Make sure you research secure options for storing your gold before you buy it, and keep in mind that safe storage adds costs to your gold investment. While you can certainly keep your gold at home, many investors prefer a custodian. Storage: Physical gold requires a secure storage location.If you decide to buy physical gold, you’ll want to keep a few things in mind: Factors To Consider When Buying Physical Gold It’s recommended you do due diligence on any source from which you’re purchasing physical gold. Of course, you’ll still want to make sure the source is trustworthy and that the gold is pure enough to be worth the value you’re paying.Īnother option for buying gold is to purchase it in the form of jewelry from a jeweler. You can also buy physical gold from pawnshops or individuals. However, you’ll want to make sure the dealer you’ve chosen is reputable. Where To Buy GoldĪny gold dealer-either in-person or online-can assist you in the purchase of physical gold. You’ll want to make sure you have as much documentation as possible so you’re able to attest to the quality of your gold when you resell it. You might start with jewelers who are members of the Jewelers of America and have signed a code of professional conduct requiring them to be honest and forthcoming about the nature of their pieces. Make sure the person you purchase your jewelry from is reputable. Here’s how gold quality (measured in karats) correlates with purity.Īs with coins, you’ll want to be extra careful when buying gold jewelry. Manufacturers use alloys that combine gold with other metals to make their pieces more durable or adjust their color. In addition, keep in mind that not all that glitters is gold. But like gold coins, you’ll probably be paying extra for the amount of gold you’re actually getting-a premium that could be anywhere from 20% to 300%, depending on the manufacturer. Jewelry, especially antique pieces, can provide another avenue for buying gold. Whether you buy your gold coins in-person or online, you don’t want to waste money on forgeries or gold that’s less pure than you’re led to believe. If you choose to buy your gold coins online, make sure to go through a dealer listed in the U.S. You can buy gold coins through dealers, pawnshops and individual sellers that you trust. In fact, the coin weighs 1.1 ounces, approximately one ounce of which is pure gold the rest of the weight is silver and copper. A one-ounce American Eagle coin, for instance, is only 91.67% gold. This means you’ll probably pay a premium over what you would for the same amount of gold in the form of bullion.Ĭoins typically have lower gold content than gold bars. Gold coins, like the American Gold Eagle or Canadian Maple Leaf, are popular collectables. And keep in mind that you may be on the hook for delivery fees-plus insurance-to assure the safe transport of your bullion. You can buy gold bars from dealers, individuals or online from sites like JMBullion, the American Precious Metals Exchange (APMEX) or SD Bullion. This is especially critical if you’re hoping to store bars in a gold IRA less pure gold, unless it’s a specifically pre-approved gold coin, cannot be held in an IRA. Purity is very important when buying gold: Investment-quality gold bars must be at least 99.5% pure gold. Bullion is typically sold by gram or ounce, and the purity, manufacturer and weight should be stamped on the face of the bar. Gold bars-more commonly known as bullion-are a popular choice for people looking to buy gold. However, due to difficulties in storing and insuring physical gold, some investors choose to get exposure to gold through indirect methods such as gold futures contracts, exchange-traded funds (ETFs) and stocks tied to the price of gold itself. That is to buy and store it in the form of gold bars, gold coins or jewelry. There’s only one way to buy physical gold.
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