Making purchases in gold has always seen raised eyebrows and hushed discussions. In some countries there is a tendency to judge a person by the amount of gold he or she has amassed in life, making such countries the largest gold consumers amongst the nations across the globe. Gold is a secure investment for most people because it retains its intrinsic value. Gold coins are a convenient way of investing in gold.
Gold coins are known to be the easiest means to accumulate gold. Purchasing gold in the form of coins is a sensible option of investing in the precious metal. Buying gold coins is a good option as compared to choosing intricate jewelry designs that reduce the value of the gold you buy. With buying jewelry there are monetary losses in the charges the jeweler bills you for making the jewels, in addition to the gold that is lost in the crafting of the jewelry as well.
If you are looking at buying gold coins, here are some of the basic rules you need to abide by.
Determine your budget and quantity.
Most often one tends to go overboard with budgets. Treat this purchase like any other purchase and you’ll find it easier to adhere to the price range.
Don’t simply splurge.
Do a little research about what is available in the market, before going ahead with your plans.
Ensure authenticity.
Ensure that the gold coin that you buy is from a reputable dealer and is certified.
Purchase coins over pieces of jewellery.
Instead of purchasing jewellery, it would be better to invest in coins or gold bars or biscuits. Purchasing a piece of jewellery may leave you bewildered about the value for money as you choose from a variety of designs. You generally cannot go wrong with a gold coin.
Once you’ve bought the gold coin, insist on a receipt and ensure that you get the certificate. Today, large numbers of people find it convenient to invest in gold coins as they are an easy option. It is safer to purchase your coins from banks or from brands that give you the authenticity certificate, as they provide you a guarantee of 99.9% purity, although their prices may be higher than the gold prices in the market; but then authenticity always comes with a price tag!
Advantages
When you buy gold coins, make sure that they are bought from gold mints, dealers, shops and eBay. Once you’ve bought gold in the retail segment, you can also buy it in the wholesale market. The advantages are that coins can be bought easily, stored and transported. Besides, you can sell them wherever you choose to. Gold coins are generally easier to sell than gold bars. Gold coins are just the thing if you enjoy collecting them or if you travel a lot – when you might use them for easy conversion as you need!
The best thing about gold coins is that you can buy them with a much smaller investment than what is needed to buy gold bars.
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