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How To Buy Gold And Silver

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How to Buy Gold and Silver

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Our investing reporters and editors focus on the points consumers care about most how to get started, the best brokers, types of investment accounts, how to choose investments and more so you can feel confident when investing your money.

Investing disclosure:

The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal.

Places To Buy Gold Or Silver

The two most common places where you can purchase precious metals are from an online dealer, such as JM Bullion, or a local coin shop. Local coin shops have been around almost as long as money has. They evolved from pawn shop establishments into a more specialized form of resale stores. Local coin shops offer customers a place where they can view their items in person prior to making purchases. Online dealers, on the other hand, are obviously more of a recent development. They serve as a virtual storefront for precious metals companies and enable customers to make their purchases online.

Gold British Lunar Series

The Gold British Lunar Series is struck by the Royal Mint from 1/4 oz. of .9999 pure gold. Since 2014 the UKs Royal Mint has produced a series of gold coins known as the Shengxiao Collection, or Lunar Series. These stunning coins feature designs based on the Chinese zodiac, with each year highlighting one of the 12 animals that make up the Chinese zodiac.

  • Producer: Royal Mint

Gold bars offer investors another alternative to invest in gold, and come in various sizes.

  • Producer: Various

Silver bars offer investors another alternative to investing in silver.

  • Producer: Various

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Frequently Asked Questions About How To Buy Gold

  • How do I store my gold?

    Once youve purchased your gold, youll also need to find a safe place to store it. There are several options to consider, including the following:

  • Bullion dealers. Many gold dealers will also offer a storage service where you can keep your gold bars or coins for a fee, so ask about the storage options available when you make your purchase.
  • Safety deposit boxes. You can rent a safety deposit box at a bank to securely store your gold bullion.
  • Secure vault storage. For high-level security, you may want to research vault storage companies near you and the storage options they offer.
  • At home. You can also choose to store your gold at home. This obviously may not be as secure as some other options, so you may want to get a home safe installed. Youll also need to update your home and contents insurance to make sure your precious metal is covered by your policy .
  • Do banks sell gold?

    Some banks do sell gold to customers, but many do not. Canadas Big 5 banks TD Canada Trust, CIBC, BMO, RBC and Scotiabank all sell gold and other precious metals. If youre interested in buying from a bank, talk a local bank representative to find out what your options are, and make sure your investment comes with a secure way of storing your precious metals. Youre also more likely to get a better price if you are a customer of the bank youre buying gold from.

  • Disclaimer:

    Question : What Type Of Gold Should You Buy

    How Smart Investors Buy Silver and Gold

    Bullion coins and ingots are a relatively safe way to buy gold, though some investors prefer to invest in gold funds, such as mutual funds or exchange-traded funds . One benefit of investing in stocks over physical gold is that it’s easier to sell. When you have physical gold, you need to find a physical buyer, which can be difficult and time-consuming, especially when the market starts to go south. In contrast, selling stocks is as easy as a few keystrokes.

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    Local Coin Shops And Pawnshops

    LCS and Pawnshops have a huge varying degree of trustworthiness and fairness in terms of what products they sell and what type of premium they charge. This would take some scouting, learning, and talking to folks and getting an estimate of what they are charging. In my personal experience with local places in my area, these businesses are largely overpriced. Though, there is a difference between being overpriced and nefariously price-gouging customers.Keep in mind that owning an inventory of Precious Metals as a small business is extremely costly, subject to market loss, needs to be insured, has extremely small margins to work with, on top of security and building leases. So again, there is a difference between fair pricing and nefarious pricing but dont forget to consider these things before you give them a 1-star review online! Some folks enjoy the experience of going in, browsing, picking out what they want, and supporting small business and if that comes with 50 cents or a dollar premium over spot, that is OK!

    How Do I Buy Gold And Silver

    By Greg Hunters

    I often get many questions about how to buy gold and silver:

    • How do you buy gold and silver?
    • Why should I buy gold and silver?
    • What kind of gold and silver should I buy?
    • What is the difference between numismatic and bullion coins?
    • Which of these should I buy?
    • Where can I buy gold and silver?

    Including the following important questions:

    • Will the government confiscate my gold and silver?
    • Can the government make owning gold illegal?
    • How do I know if my gold and silver dealer is reputable?
    • Do buyers get some kind of confirmation that what they are buying from these shops is real and certified?

    These are just some of the questions I will try to answer in this post.

    Why You Should Own Gold and SilverFirst off, why should you own precious metals? Read this:

    Who do you think this was written by? If you guessed former Fed Chief Alan Greenspan, you would be correct. It is titled Gold and Economic Freedom, and it was originally published in 1966. After reading this, it is hard to believe he was the Chairman of the Federal Reserve for nearly 20 years. Gold is the antithesis of the Federal Reserve Note.

    Greenspans article is the time tested reason for owning gold. For more current reasons, look no further than The Seven Ds of the Developing Disaster, written by gold expert Alf Field. In short:

    • Deficits
    • Derivatives
    • Devolution

    The above are the reasons why Field says gold and silver are bound to rise over the long term.

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    Where To Buy Silver Bars

    Silver bars can be bought in numerous places

    Online dealers like Auction sites like eBay Coin or bullion shops near you

    The best strategy here is to buy your silver bars from a reputable dealer. A trustworthy dealer provides sound education, helps you avoid pitfalls, and most importantly, sells high-quality products.

    How do you know if youre dealing with a reputable bullion seller? Look for these things

    If youre new, try comparing three dealers. Be sure to compare total costcommission, credit card or bank wire fees, and shipping and insurance. And keep in mind that cost isnt the only factor when buying silver bars: ease of ordering, delivery promptness, customer service, and buyback policies are all important to consider in where you shop.

    One effective method for first-timers is to buy from two different dealers, so you can compare service, delivery, and cost. It also provides you with two vetted sources for future purchases.

    Buy And Store Gold & Silver Bullion Online With Guardian Gold

    You Can Get Rich Buying Gold and Silver

    As precious metals, gold and silver are some of the most historically enduring forms of currencies in the world. Bullion coins struck from these rare materials have long been used as practical ways for investors to store value, and in todays digital age, where tangible commerce is diminishing, opting to buy gold and silver bullion online is an excellent way to diversify your investment portfolios and obtain some security.

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    How To Invest At The Perth Mint

    The Perth Mint offers an outstanding range of gold and silver investment products, built on meeting investor requirements for more than 100 years.

    Other considerations include whether you want to buy gold or silver in person, by phone or online, with our digital offering evolving with advances in technology. View latest precious metals prices here.

    Best Place To Buy Silver

    If youre looking to buy silver, there are plenty of good options. Kitco, JM Bullion, and APMEX are all good online dealers that sell silver bullion. They offer a wide variety of products, including coins, rounds, and bars in a variety of sizes.

    One thing to keep in mind is that the price of silver can vary significantly from one dealer to another. So its important to shop around and compare prices before making a purchase.

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    How & Where To Buy Silver Bars

    Jeff Clark, Senior Analyst,

    Buying silver bars is a shrewd investment decision. Silver bars come with lower premiums than coins, are easier to store than coins, and will rise a greater percentage in price than gold bars.

    But what exactly should you buy? And where? This guide will answer all of your questions about the best ways to buy silver bars.

    Pick A Storage Option

    Better Buy: Silver Wheaton Corp vs. Royal Gold, Inc

    Once you have finalized your purchase, choosing a storage option for your precious metals is a crucial consideration.

    Many who purchase precious metals choose to store them in a safety deposit box. However, the contents of a safe deposit box are not insured. This is not the ideal place for your precious metal assets, whether it’s gold bullion coins, bars, or otherwise.

    You can save some money by storing your metals at home. This may mean placing your gold in a safe or any other secure location in your residence.

    View inside an empty vault.

    Yet the trade-off with home storage is that you are taking on all the liability of theft by yourself. You also cannot include any metals stored at home in a self-directed IRA.

    Keeping your metals in a vault is the most secure way to store them. You get the peace of mind that your metals are protected, fully insured, and kept offsite. The drawback here is vault storage comes with fees, which are usually about 0.5% of the total value of your precious metals.

    Storing your metals offsite also gives you the flexibility to sell your precious metals or withdraw them whenever you like. Otherwise, you can generally have your gold and silver shipped to your address or schedule to pick them up in person.

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    Difference #: Silver Is More Affordable Than Gold

    This looks like an obvious statement because this is one of the first things you will notice when you look at the silver price.

    Why silver is less expensive than gold?

    Silver is less expensive, mainly because of its bigger supply: nearly 1.74 million metric tons of silver have been mined throughout history, compared with around 198,000 metric tons of gold, the World Gold Council says.

    But silvers lower price actually comes with many of the same benefits you will get with a purchase of gold or other precious metals.

    Here are some of the benefits silver has in common with gold:

    • Just like gold, silver works as astore of value and is a hard asset that you can see and touch unlike some other forms of investment .
    • Silver also hasno counterparty risk, which means that you dont depend on any third parties to hold your physical silver.
    • Like gold, silver is money that cant be created out of thin air like many paper currencies. Oh, and by the way, history shows that silver has been used as money even more often than gold coins.
    • Finally, silver has never been defaulted on. So if you own physical silver, you have no default risk, which is not the case for almost any other investment you can make.

    What does it mean for an investor?

    For these reasons then, buying silver offers several of golds key benefits but for a much lower and more affordable price.

    Silver is roughly 60 times cheaper than gold, which makes it way easier to buy 1 kg of silver than 1 kg of gold.

    Buying Silver & Gold Bullion Online

    Both silver and gold are and have been coveted stores of value far longer than any other competing money or currency.

    Governments and central banks diversify their savings and prepare for an uncertain future by buying gold bars and officially owning close to 1/5t of the worlds purported above ground gold supply .

    Silver and gold have the longest historic track record as dependable money without default. By their inherent natures these two monetary metals continue to be sought after and coveted by human beings all over the world.

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    Know The Difference Between Bars And Coins

    While all forms of pure gold have significant monetary value, not all investment-quality gold is equal. From an investment perspective, investors wanting to add the physical product that tracks the price of gold may wish to avoid gold coins. These coins often feature attractive designs, have historic value, and contain a lower quantity of gold, but still, cost more due to their numismatic value.

    In addition to costing more, gold coins sometimes skew the value of an investors portfolio. For example, the highly regarded American Eagle coin produced by the U.S. Mint contains 91.67% gold but costs more than plain gold bars because of its value as a collectors piece. Some investors may want collector’s items, while others may want plain gold bars, which typically are the easiest to hold long term and convert to cash.

    Final Thoughts On How To Buy Gold And Silver

    Buy and Sell Gold and Silver Bullion In Perth at The Perth Mint

    Now that you understand the benefits of investing in gold and silver, as well as how to buy it, give serious thought to adding a small position in these metals to your portfolio. No, they wont provide the steady returns that interest-bearing assets and stocks do. But they have real potential to perform well when those other investments arent.

    Just a small allocation5% to 10%could add a significant amount of protection to your portfolio if things get ugly in the financial markets.

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    Physical Gold And Silver Coins/bullion

    The oldest method for gold and silver investing is just to buy some physical coins or bars.

    The advantage to the physical approach is that its the safest, least complex way to invest in gold and silver. You buy some from a reputable vendor, and hold it in a safe place.

    However, it quickly starts to get more complex than that. Where do you store it, and how do you keep it safe?

    Personally, I think owning some gold coins tucked away in your home is a good idea. Physical bullion is a nice off-the-grid store of value.

    Weve all seen areas that are hit by devastation, either economic or weather-related, where its good to have some hard assets on hand. You cant always rely on banks or electronic payment networks to provide required funds during times of crisis.

    Im not talking about zombie apocalypses here just your average run-of-the-mill major economic problem or natural catastrophe.

    In 2015, during Greeces economic crisis, a run on banks resulted in withdraws being limited to 60 euros per day. Youd have to wait in long lines just to get a trivial amount of cash.

    In 2017, when Puerto Rico was devastated by a hurricane and the whole territory was without power, business couldnt accept credit cards and cash was needed for everything. But many banks were closed and others were limiting withdraws to $100/day. Again, there were massive lines at banks and the handful of working ATMs.

    The Gold Mining Market

    The mining market, which includes business that extract gold, can experience high volatility. When examining the reward performance of gold stocks, consider the companys performance in time in regard to returns. Variables such as the businesss background of paying dividends and also the sustainability of its returns payout proportion are 2 crucial elements to examine in the companys annual report and also other economic statements.

    A companys capacity to sustain healthy and balanced dividend payouts is considerably enhanced if it has consistently low financial debt levels and solid capital, as well as the historical pattern of the companys performance reveals steadily enhancing financial obligation as well as capital figures. Because any kind of company undergoes growth and growth cycles when it takes on even more financial obligation as well as has a reduced money available balance, its important to evaluate its lasting numbers rather than a much shorter monetary image duration.

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    Best Place To Buy Gold

    Buying gold online is a good idea if you do not have time to go from store to store looking for what you want. It also gives you the chance to look at several dealers and their products so that you can get the best price possible. Like we mentioned above, Kitco, Monex, and JM Bullion are all great online dealers to check out.

    When you are ready to buy gold, it is important to remember a few things. First, always make sure you are buying from a reputable dealer. Second, be sure to understand the product that you are buying. Gold can come in many different forms, so make sure you know what you are getting before you purchase. Finally, don’t buy more gold than you can afford. Gold is a valuable commodity and should be treated as such.

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