Can I Buy Gold On The Internet
Despite being the oldest monetary medium, dating back millennia, buying and selling gold is now heavily done over the internet.
Should the buyer prefer to buy gold through a more traditional route, such as over the telephone or even on the vendors premises, the internet is probably the best research tool in terms of comparing dealing charges, services and other factors.
Want To Buy Gold Heres What You Should Know
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What do Scrooge McDuck and King Midas have in common? Hint: Its not a well-diversified portfolio. While owning gold sounds cool, and may even be considered responsible during a stock market downturn, investing in gold comes with some unique challenges and doesnt always pan out the way you might expect.
Can I Buy Gold Bars At A Bank
For most investors in North America, the answer is no.
If you live in the US, it is a common misconception that you can buy gold at a bank. Many people expect a bank to issue gold, harkening back to days when gold backed the currency, but today most physical gold is purchased from non-bank distributors. Even the US Mint requires retail customers go through an authorized purchaser .
But if youre in Europe or Asia, check with your bank. Some banks may offer gold products to retail customers. I know several people that have done this very thing in Switzerland, for example.
To find out if a bank offers gold bars for sale, just give them a call . One caution: make sure you compare premiums, so that youre not overpaying. Also, inquire if they offer lower rates to their existing bank customers.
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What Is An Online Gold Dealer
The top online gold dealers are trusted vendors offering everything from investment-grade bullion, coins, collectible gold pieces, and more. Customers can easily compare prices across multiple sellers and make a buying decision based on price and shipping speed. The top dealers offer options to take physical delivery of the gold or store it in a secured vault. Customers also have the option of selling their gold back to the dealer.
Invest In Gold Right Now
Gold is a timeless investment to protect your wealth. A time capsule from any century is sure to include gold coins or bullion. Discover the security and pride in ownership for yourself. Pool your resources and make an important decision about your financial future. Talk to a knowledgeable professional at Money Metals Exchange by calling 1-800-800-1865 today to learn how to buy gold bullion for greater financial security. We take pride in offering outstanding service, great pricing, and fast delivery times to everyone from novice buyers to sophisticated investors.
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Buy Gold Bars The Most Affordable Gold Option
Unlike other precious metal dealers, SchiffGold works with our customers on a one on one basis to make sure youre getting the service you deserve.
SchiffGold also offers some of the lowest pricing in the entire industry!
If youre ready to buy or simply have questions you can reach out to us via:
1. Is gold a good investment for me?
The classic example: one ounce of gold would buy you a nice suit of clothes 100 years ago. Today, an ounce of gold will still buy you a nice suit of clothes. Dollars, on the other hand We all know that a dollar cant buy the same things it did when we were kids, let alone a century ago.
So if youre socking away funds for retirement, why save in dollars? The US dollar is consistently losing purchasing power. Plus, in todays banking environment it can actually cost money to keep your savings in a bank account. Gold is one of the best ways to ensure the 100 dollars you have today will hold its purchasing power decades into the future.
SchiffGold and Peter Schiff generally recommend keeping 10-15% of your savings portfolio in gold and silver. You dont have to be extravagantly wealthy to buy gold anyone who has started a nest egg can allocate a portion of it towards the yellow metal.
For more information about why people invest in gold:
2. What kind of gold should I purchase?
Question : When Should You Buy Gold
As with all investments, the general rule of buy low, sell high applies to gold, whether in coin, bullion or stock form. To know the right time to buy, research the type of gold you want to buy and keep your eye on the market.
Since gold tends to perform well when the economy is in a recession, most people buy gold as a type of financial insurance policy to hedge their bets against the value of the dollar in the market. As a hard asset, gold holds its value even during times of inflation. For instance, the early 1970s would have been a great year to buy gold its value increased from $35 per ounce in 1971 to $180 per ounce in 1974.
There are two main reasons people buy physical gold: as insurance and as an investment. People who are concerned about the recent economic crisis tend to view their ownership of precious metals as an insurance policy: As long as you have physical gold or silver to sell or trade, you will never be broke, even if the economy collapses. It is relatively easy to buy a gold bar, and once you purchase it, you dont need to do anything but store it.
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How Do I Store My Gold
The benefit of owning physical gold is that you have it to hand if you are genuinely concerned about complete financial or societal breakdown. We’ve always described gold as insurance, and if you think things could get to the point where all financial assets are essentially worthless, then having access to gold coins would be useful.
The key problem with taking physical delivery is that you have to look after it. You will need to store it securely. A safe is the most obvious option, or outside the home ina bank safe deposit box. If you do store the gold at home, and you want it to be covered by your home insurance, you will of course need to tell your insurer. Depending on how much gold you have, this could potentially bump up your premium.
Buying Gold Bullion Vs Mining Stocks
While many people prefer to have a tangible asset such as gold bullion or jewelry, investing in mining stocks can be a more lucrative investment opportunity that sometimes leads to greater wealth.
Investing in mining stocks is riskier than buying physical gold bullions or coins, but the payoffs can be more significant and include dividends you wont get when you buy a piece of gold. According to Durrett, Mining stocks are potentially the investment of a lifetime opportunity because of the cash flow.
Still, this option may not be for everyone. During our interview, Durrett described successful investors of mining stocks as contrarian and speculative. He further noted that a successful investor would pay attention to their particular mining stock’s daily and external factors, such as oil prices, geological events and natural disasters that can affect the price of gold.
You can have total control over it If something crazy happens in the world you still have your gold bullion.
Because of the risk involved, some investors recommend starting small: Investors really want to start out using money they can afford to lose until they get an understanding of how mining stocks work and what causes their prices to rise and fall, according to Durrett.
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How To Buy Gold Bullion Coins
Gold bullion coin price is based on the weight of the precious metal and the scarcity of the coin itself. The scarcity arises from the fact that once a mintage of a coin is done for a specific year there will never be another coin of that year produced. Minted coins also offer the guarantee that comes from a reputable mint like the U.S. Mint. Gold bullion coins are generally legal tender in the country that the coin was minted.
Factors To Consider When Buying Physical Gold
If you decide to buy physical gold, youll want to keep a few things in mind:
- Storage: Physical gold requires a secure storage location. While you can certainly keep your gold at home, many investors prefer a custodian. 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.
- Insurance: If you decide to store your gold at home, you should insure your gold to protect yourself against theft or natural disaster. This can add to the cost of your homeowners or renters insurance. And even if you dont keep your gold at home, youll want to check in on your storage providers insurance policy to determine how its protecting your investment.
- Manufacturer: Because youre making an investment, youll want to make sure youre buying from reputable sources that will help your purchases value grow over time. When buying gold, look for respected producers like Credit Suisse, the Perth Mint and the Royal Canadian Mint.
- 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. Ensure any gold you purchase as an investment has the purity level to help it stand the test of time. That means youre probably targeting gold items that are at least 91%, if not 99%, pure.
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Should You Buy Coins Or Bars
You can buy bullion in two main forms: coins or ingots . The advantage of gold coins over gold barsis that they allow you to be more flexible. After all, it’s easier to sell 20% of your gold if you ownten gold coins rather than if your whole investment is in one gold bar. By the same token, given this flexibility, you’ll probably find that coins are that bit more liquid than big bars. That said, if you want to buy a sizeable amount of gold, then bars might make more sense from a practical point of view.
Lady Liberty Gold Round
One of the most affordable ways to get gold is the Lady Liberty round, made of .9999 pure gold in one-tenth troy ounce. They are not legal tender and the goal is to provide the buyer with more gold for the money versus fractional coin bullion. Lady Liberty is featured on the obverse with the image of a descending bald eagle on the reverse.
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The Best Way To Buy Gold
By Bryan Borzykowski on October 22, 2012
Most investors should have some exposure to the yellow metal, but how much should you own?
About a year ago at this time it was impossible to turn on the TV or pick up a newspaper without encountering something on gold. The assets price was soaring, hitting $1,900 an ounce in September 2011 and gold bugs were predicting that the yellow metal would continue to climb. Today, it seems as though much of the rhetoric has died down, probably because the price has moved sideways for the last 12 months. Today, gold is selling for around $1,750.
Just because it may not be breaking new price records doesnt mean you shouldnt own any gold. Historically, gold has been a great hedge against both inflation and poor economic performance. With continued deficit problems in Europe and the U.S. and a threat of a Chinese slowdown, its possible gold will rise again, says Stephen Lingard managing director of Franklin Templeton Multi-Asset Strategies. Gold is a great hedge in this environment and thats why weve seen such strong performance over the last few years, he says.
Gold is not a good investment on a standalone basis, he says. Equities make far more sense on a long-term basis. What gold does is provide a little bit of insurance and it helps with overall diversification.
He adds that people shouldnt worry about how high the price will go. Gold isnt moving, he says. Currencies are declining.
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An Introduction To How To Buy Physical Gold In Canada
Do You Know How to Buy Physical Gold in Canada? What About Silver?
Learning how to buy physical gold in Canada, and even silver can save you money and time in building a smart portfolio.
Sold on the idea of purchasing gold in Canada? Unsure about the best process for getting your hands on some? This article will help you understand how to buy physical gold in Canada. First, there are a few options for buying gold generally that could be suitable for you. Below, I will walk through the best methods of how to buy physical gold in Canada.
The best choice for you may not be the same as for me because of our unique financial objectives and individual lifestyle choices. While just about nobody will complain about getting gold as a gift, preferences for the style vary. Second, among the various ways of buying physical gold, some are generally more cost-effective in certain time frames. I will explain why owing fine gold bulliongo here for a quick breakdown of what is bullionfor instance, is generally preferable compared to semi-fine gold.
What Are The Basic Steps To Buy Physical Gold in Canada?
A Primer on Different Types of Gold
There are various advantages to buying coins over bars, and vice-versa. You will need to educate yourself on the best options available. There is no real right or wrong answer on which you buy. It just depends on what you really prefer.
Equipment You Need To Buy And Sell Gold
Before you begin buying and selling gold, the following are some of the steps you should follow so your venture would run smoothly. They include
Test Kit for Gold
In this business, a necessary purchase is a gold testing kit. This is not an expensive purchase. The kit is used to double check the gold carat that a customer wants you to buy. The different acids necessary to test 10k, 14k, 18k, and 22k will come along with the kit.
A Professional Jewellery Scale
Having a professional jewellery scale is absolutely essential. The cost might be high at the point of purchase, but in the long run the service it provides is worth it. Using a kitchen scale is illegal in terms of trade. Apart from the kitchen scale not being legal, it makes you and your business seem highly unprofessional.
Ensure that your scale is accurate by taking readings daily. Have records that show the accuracy of your scale in the event that you are asked about it. The questions can be from either an official body or a customer.
Buy a Magnet and File
In the gold industry, having a magnet at hand is always of tremendous benefit, so it is better to buy a quality one. A metal file that is used to scrape the outer layer of jewellery is equally needed. The file and magnet are inexpensive and will last for a long period of time.
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Question : Do You Have To Pay Taxes When You Buy Gold
In his book “How to Buy and Sell Gold and Silver Privately,” internet marketer and business coach Doyle Shuler explains many of the complexities surrounding taxation and buying gold. Some states apply sales tax for gold bullion, and others do not.
Some gold buyers are critical of the U.S. government and therefore do not want their gold purchase to be noted by the IRS. According to Shuler, simply paying cash isnt enough to keep you off the grid.