Friday, August 12, 2022

How To Buy Physical Gold

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How to Buy Physical Gold [Step-by-Step]

Considered to be the start of Diwali, Dhanteras is a celebration of wealth and prosperity. For decades, Indians have been visiting their local jewellers on this day to buy gold. It is considered the most auspicious day of the year to buy gold, which is why you will see huge crowds of women thronging jewellery stores, with men not far behind.

However, times are changing. There are multiple ways to buy gold these days, especially if you are looking at it from an investment perspective. So here are three non-traditional ways to buy gold this Dhanteras, which will prove profitable for you in future:

Gold coins and bars

Traditionally, people have always preferred buying gold jewellery over any other valuables. However, gold used in jewellery is never 100% pure and also involves making charges. It may not be profitable if you decide to sell your jewellery in an emergency.

Investing in gold coins and bars may not be a completely non-traditional way to buy gold as it is still physical gold. But it is definitely a better option as the purity levels are 99.5% or higher and these coins and bars come with a BIS hallmark.

Gold ETFs

Gold Exchange Traded Funds are open-ended mutual funds that depend on the changing prices of gold. Investing in them gives you dual benefits as you are not only investing in gold but also getting the flexibility of trading in stocks.

Gold bonds

This Dhanteras, grab this golden deal!

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What Are The Fees And Commissions When I Buy Store Or Sell On Gold Avenue

Like any precious metals reseller, we charge a premium on each product, it’s the part of the price that covers our costs and margin. The premium is already included in the prices you see in our shop. To better understand how the price of a product works, simply click on it to see a detailed breakdown.

Any product you store with us is fully insured against loss, theft, and damage, for free. Storage is also free for up to CHF10,000 in storage value, and if you want to store larger quantities, you only pay a fixed fee of CHF8/month up to CHF100,000 in storage value.

And thats it. Thats the only fees we will charge on GOLD AVENUE.

At resale, we do not take any fee or commission and offer instant buyback, at spot price for all the products you store with us. This means that we will pay you the full market price for your product, whenever you want to sell.

You can read more about this on our storage solution page.

How To Buy Gold & Silver

Our Simple 4-step process makes physical gold and silver buying easy.

Q & AOne of our dedicated specialists will work with you to answer any questions you have. We will provide you with factual information about all available products. The length of this conversation is down to you and is an opportunity to ask us as many questions as possible. Please note we are not permitted to provide any financial advice. If you require advice, we suggest you speak to a financial advisor.

PURCHASE ORDER When you feel confident that youve had all your questions answered, you will be asked to complete a purchase order, which is your instruction to purchase metals.

PAYMENTIn order to lock in the price and complete your order, you must then make a payment, via bank transfer or personal cheque. We no longer accept any payments over the phone / card payments.

STORAGE AND DELIVERYWe can either deliver your gold directly to you, via our insured delivery service, or you can choose to have your gold safely stored, in a London Bullion Market Association vault, where your physical metals are allocated in your name and with full insurance provided.

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Decide What Type Of Gold You Want To Buy

If youre buying gold for financial reasons, then you mostly shouldnt care what form it comes in. Leave the rare, ancient civilization coins to the coin collectors and speculators.

Instead, your #1 goal is to buy gold as close to the spot price as possible.

This can be harder than it sounds, since most dealers charge around 5-10% extra over the spot price, depending on what youre buying.

The most common types of gold include:

Etfs That Own Mining Stocks

How to Buy Physical Gold Instantly

Dont want to dig much into individual gold companies? Then buying an ETF could make a lot of sense. Gold miner ETFs will give you exposure to the biggest gold miners in the market. Since these funds are diversified across the sector, you wont be hurt much from the underperformance of any single miner.

The larger funds in this sector include VanEck Vectors Gold Miners ETF , VanEck Vectors Junior Gold Miners ETF and iShares MSCI Global Gold Miners ETF . The expense ratios on those funds are 0.51 percent, 0.52 percent and 0.39 percent, respectively, as of July 2021. These funds offer the advantages of owning individual miners with the safety of diversification.

Risks: While the diversified ETF protects you against any one company doing poorly, it wont protect you against something that affects the whole industry, such as sustained low gold prices. And be careful when youre selecting your fund: not all funds are created equal. Some funds have established miners, while others have junior miners, which are more risky.

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About The Pure Gold Company

The Pure Gold Company was established in 2012 and is a proud member of the British Chamber of Commerce, The Royal Numismatic Society and the British Numismatic Society. As you will see from the various pieces of press coverage that feature The Pure Gold Company are considered thought leaders on gold investment. We sell Investment Grade gold at 22 karats or higher and all gold bars purchased within a pension are 99.99% pure gold.

What Is Gold Avenue Pay

GOLD AVENUE Pay is our instant payment and withdrawal solution. It is a free and secure way to manage your funds on GOLD AVENUE. Before an order, top it up with a simple wire transfer and use it as a secure payment method. When you sell a stored product on GOLD AVENUE, your funds will be directly added to your GOLD AVENUE Pay. You can then use your funds to place a new order or send them back to your personal bank account.

If the funds on your GOLD AVENUE Pay dont cover the full price of an order, you can simply use your saved credit cards during checkout to pay the remainder!

Read more about the payment methods available on GOLD AVENUE on our pricing page.

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Why Invest In Physical Gold

  • Pandemic uncertainty: the volatility of tightening and loosening restrictions continues to beset economies around the world and is unlikely to entirely disappear for the foreseeable future as new variants emerge and the virus spreads virulently again.
  • The UKs national debt passed passed its peacetime record in March 2021 at £303 billion.
  • Inflation is over 4% and expected to exceed 5% in 2022.
  • Savings accounts: interest rates are at an all-time low of 0.1%, offering very little return on any savings.
  • The counterparty risk from banks and financial institutions, due to instability.
  • Finite supply: unlike cash or equities gold cannot be simply created.
  • Tax advantages: certain types of physical gold coins are exempt from taxes, depending on individual circumstances, similar to an ISA but with none of the restrictions.
  • Secure your retirement volatility in the markets is threatening the values of many pensions. As gold retains its value in the long term its a viable alternative for a pension or SIPP.

How To Buy Gold Uk

How to Buy Physical Gold and Silver

Buying gold in the UK may seem like a daunting process for first-time buyers but adding some gold to your portfolio is as easy as doing your regular online shopping. Because of our market credibility and purchasing power, were able to secure gold for you directly at a great price and, if required, store it for you as well.

This is particularly the case when you buy in bulk. And our BNTA accreditation means you dont need to worry about the quality of our gold . We trade investment-grade gold only and even provide you with a certificate to prove it! And because we value our clients, you can always call us if you need that extra bit of guidance when you purchase physical gold.

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Buying Gold For An Investment

There are several options to buying gold as an investment. If you are seeking to actively trade the gold market, then spread betting is one option. Buying a Gold ETF provides online access and economic spreads to buy and sell regularly. If stock markets are attractive, then the Blackrock Gold fund is popular, or if you are prepared for higher risk, investing in gold mining stocks is an option. For those motivated by safety and protection, buying physical gold coins and bars is the best investment choice.

Ultimately, most investors will invest in gold to make profits. Gold is a stable asset class that rises steadily and provides you with the opportunity to buy at a certain price point and wait for a few years for the price to reach the level you desire. Gold always delivers better returns over the long term.

When you decide how to buy gold, you will be faced with the option of investing in bars or coins. Both of these investment avenues have different sets of dynamics. If you choose to invest in gold coins, two important factors can impact your profits. These are increases in the spot price of gold and the percentage rise in the level of premiums that you can achieve when selling your coins.

Buying Gold: Securities Funds And Notes

To begin with, you could buy what is known as virtual gold. This includes buying gold securities, buying gold funds, and buying gold notes. Virtual gold is traded on various stock exchanges and its important to note that besides added taxes and fees, these products come with potential additional risks due to possible market fluctuation.

Going straight to the source, you could buy into a gold mine itself. However, be aware that the price of shares in a gold mine does not necessarily parallel the price of gold itself.

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Your Choices Include Gold Coins And Bars

Gold coins weigh about an ounce or less. Those popular among collectors and investors include the American Eagle made by the U.S. Mint, the Canadian Gold Maple Leaf and the Krugerrand. Not interested in coins? Gold bars weighing in at one kilogram or less are often marketed to the average investor, but bars as large as 100 ounces are also available, according to the gold industry group, the World Gold Council.

Institutional buyers such as financial institutions, central banks and exchange-traded funds are in the business of buying even larger bars. The standard for over-the-counter gold bar trades is the London Good Delivery bar, which ranges in size from 350 fine troy ounces to 430 troy ounces , according to the London Bullion Market Association. At current prices, a single such bar would cost roughly $478,000.

Though individual investors may also be eligible to purchase London Good Delivery bars , they might have trouble complying with the strict regulations in place regarding the bars, which must be kept in LGD-accredited vaults or transferred through a chain of custody that meets LGD standards.

What Is The Difference Between An Allocated And Unallocated Gold Account

Buy Physical Gold

The main difference is about the ownership of the gold and who is responsible for the security and insurance of that gold.

When you buy gold on an allocated basis this means you have the title for this gold and are the legal owner. This means you are also responsible for its safe storage. As discussed, this also means you will have to consider security and insurance fees.

However, when investing in gold in an unallocated account from a bank or third party, you do not retain the legal ownership of the gold. Rather than buying the gold and you owning this asset, you will deposit funds to the bank. The bank in return would then repay your investment when requested at the appropriate value at the time.

The upside is that the bank is responsible for the security of the gold and the relevant insurance, but there is the risk that if the bank went bust then these gold reserves could be at risk and would not be protected under the Financial Services Compensation Scheme .

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What Our Customers Say

  • Discussion Forum

BUY & SELL GOLD FOR AS LITTLE AS 0.5%

The fee for trades is built into the real-time market price you see when you transact.

VAULT YOUR GOLD FOR ONLY 0.02% PER MONTH

Your allocated gold, insured by Brinks with Lloyds of London, is vaulted with Brinks Zurich, in Switzerland, one of the worlds most secure gold vaulting companies.

By marrying the worlds oldest currency with 21st-century technology, Glints founders hope to get people using gold to buy goods and services, settle debts and send to their friends.

The worlds oldest currency is being brought into the digital age with launch of a debit card and app that will allow people to pay for goods in gold.

We have been featured in some of the world’s most prestigious media

Finding The Right Price & Dealer

Before you begin comparing the prices of different precious metals dealers, you need to make sure that the dealers you are researching are actually licensed to sell precious metals. Taking the time to verify their status will not only ensure that their merchandise has been lawfully obtained, but that they also understand the various policies regarding precious metals sales, such as taxation and reporting.

After you have confirmed their license statuses, it is time to compare the different dealers. When examining prices, be sure to take into account other expenses outside the premium rates such as shipping, insurance and taxation. You should also take note of their different policies regarding shipping and methods of payments to see if they can accommodate your needs.

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Types Of Physical Gold For Investment

The Pure Gold Company, like most bullion dealers, offers gold bullion for investment in the form of gold coins and gold bars, including legal tender and standard coins. Each of these types of gold has its own advantages and disadvantages for investment.

The Pure Gold Company offers consultation to each client to ensure that youre investing in the right kind of gold for your circumstances. For more information on the types of investment gold, see our buying guide pages below.

Investing In Gold Etfs Or Gold Unit Trusts

The Best Ways to Buy Physical Gold

A gold Exchange Traded Fund allows you to invest in gold, without having to buy the physical gold assets. It is a fund that holds a range of different gold-backed assets. Some gold ETFs simply track or mimic the price movements of physical gold, whereas others may include shares in gold miners, or various gold-backed derivatives. The underlying asset is what dictates the value of the ETF and will therefore be the determining factor for its performance.

Gold ETFs can be traded like stocks, making them liquid and easy to sell off as and when required. They are also oftentimes cheaper to own for new investors, as you do not have to purchase actual gold, albeit you should check with a qualified broker for the spot price. This allows you to include gold in your portfolio, with a smaller commitment of capital.

A gold unit trust is also a fund, which consists of gold-related assets and derivatives. Similar to gold ETFs, some gold UT invest directly in physical gold, while some gold-related UTs invest in stocks of gold miners, other precious metals and bulk commodities. The main difference is that the unit trust is more actively managed there are managers who handle the buying and selling of gold-related assets or derivatives in the fund. Ideally, the full-time professionals running the fund will be able to get better returns than an ETF, which simply mirrors gold price movements.

Gold ETFs and unit trusts can be conveniently purchased through a bank or licensed broker.

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Know The Current Price Of Gold

This is also known as the spot price. Since gold is traded in the financial markets as a commodity, its price fluctuates minute by minute, hour by hour no different than stocks, bonds, or any other publicly traded asset.

So then its logical that you can also find the current price of gold anywhere you can find the price of other stocks and bonds.

For example, Yahoo Finance includes a Gold chart along its top header, right next to the price of the S& P 500, Oil, and the Euro to USD conversion rate. You can find similar information on Google Finance, Morningstar.com, Bloomberg, etc. And if youre really looking for more info than you ever need, theres always websites like Goldprice.org which leave no question about their topic of choice.

For buying physical gold, its important to note that the market commonly quotes golds spot price in terms of one ounce* of gold. This information will be important when you start looking at physical coins and gold bars.

As of this writing, gold is near an all time high of about $1,900 an ounce.

*Note that its technically 1 troy ounce which is 31.1 grams versus 28.35 grams in a regular ounce.

Set Up Your Gold Silver Accumulator

  • Type of Silver Coins wanted :-*
  • Silver Britannia’s*
  • Silver Britannia’s*
  • Classic Sovereign: Victoria or King
  • Gold Sovereign’s
  • You Selected Other Coins. Please specify.
  • Please indicate your chosen Gold % / Silver % Split
  • * Please note that delivery of Silver coins incurs VAT
  • Set Your £ Monthly Direct Debit Amount:** Minimum spend £350 per month
  • Set Your $ Monthly Direct Debit Amount:** Minimum spend $450 per month
  • When would you like your Direct Debit?*
  • The completion of this instruction enables The Pure Gold Company to purchase precious metals on your behalf up to the retail value of the Investment Amount. Please note that as precious metals are a hard asset denominated in bars or coins, it may not be possible to purchase gold to the full value of the Investment Amount.

    DefinitionThe Pure Gold Company will purchase gold up to the nearest whole number of bars or coins and the monetary difference between the Investment amount and the actual amount purchased will be fully refunded.

    YOUR ACKNOWLEDGEMENTS & NOTICE OF DISCLAIMER

  • Gold and Silver should be considered a long-term investment of at least 3 years.
  • You should not borrow money to invest in gold.
  • You acknowledge that the market rate for Gold or Silver can go down as well as up.
  • Your purchase price is inclusive of the bid/ask spread.
  • If investing in Silver bars/Silver coins you acknowledge and agree as the Customer to pay any VAT charge incurred if and when you as the Customer have the items delivered to you.
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