Brief History Of Gold
A fascination with gold can be traced back for thousands of years, and it has been referenced numerous times through many ancient documents, including the Bible. The United States adopted gold as the official standard of value in 1879, but in 1933, during the Great Depression and just 54 years after adoption, FDR abandoned the gold standard.
Some interesting, fun historic facts about gold are:
- Gold is element 79 and its symbol is Au.
- Originates from the Latin Aurum, meaning yellow or shining dawn
- ca 3,000 B.C.: Egyptians developed the first known currency exchange ratio.
- 1782: Gold first discovered in the United States
- 1799: First U.S. gold rush 12-year old Conrad Reed discovered a seventeen-pound gold nugget in Meadow Creek in Cabarrus County, North Carolina.
- 1816: Gold is Englands official standard of value and England mints the one pound gold coin, the sovereign.
- 1848 1855: California Gold Rush begun by James W. Marshall at Sutter’s Mill in Coloma, CA
- 1896 1899: Klondike Gold Rush in the Alaska and Yukon, Canada, territories
- 1912: Gold is money. Everything else is credit. J. P. Morgan
In contrast to political money, gold is honest money that survived the ages and will live on long after the political fiats of today have gone the way of all paper. Hans F. Sennholz.
Why Investors Like Gold
Gold has a proven track record for returns, liquidity, and low correlations, making it a highly effective diversifier, says Juan Carlos Artigas, director of investment research at the World Gold Council.
These qualities are especially important for investors:
- Returns: Gold has outperformed stocks and bonds over certain stretches, though it doesnt always beat them.
- Liquidity: If youre buying certain kinds of gold-based assets, you can readily convert them to cash.
- Low correlations: Gold often performs differently from stocks and bonds, meaning when they go up, gold may go down or vice versa.
In addition, gold offers other potential advantages:
- Diversification: Because gold is generally not highly correlated to other assets, it can help diversify portfolios, meaning the overall portfolio is less volatile.
- Defensive store of value: Investors often retreat to gold when they perceive threats to the economy, making it a defensive investment.
Those are a few of the major benefits of gold, but the investment like all investments is not without risks and drawbacks.
While gold performs well sometimes, its not always clear when to purchase it. Since gold by itself doesnt produce cash flow, its difficult to determine when its cheap. Thats not the case with stocks, where there are clearer signals based on the companys earnings.
Facts To Know About Buying And Trading Gold Bars
The US Mint sells gold in legal tender US Mint coins. A gold bullion bar should be purchased from a dealer with a solid reputation that stands behind what it sells. Storage is another factor to consider, especially for those who are buying large gold bars. If gold is stored in a bank safe deposit box, it is not insured by the Federal Deposit Insurance Corporation and may not always be accessible. Storing it in a safe at home can put buyers at somewhat greater risk for theft, although personal valuables insurance can be obtained at a reasonable cost. Storing your gold bars at a maximum security facility such as Money Metals Depository is a good option.
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Buy Your First Gold Bar
The advantages of buying gold bars are numerous. When youre ready, browse gold bars online and call 1-844-307-1589 to receive a free one-on-one consultation regarding your overall financial goals. Experienced Account Executives are standing by to answer your questions and help you choose the right gold bars and coins for your portfolio!
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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. Weve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
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.
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Buying Gold Bars From Jm Bullion
As you look to buy gold from JM Bullion, youll find that our customer service team is available to help you with any questions you might have about available products or purchasing. You can reach out to our customer service team at 800-276-6508, chat with us live online, or send us an email with your inquiries.
Direct Access To The Biggest Gold Bars
To retain Good Delivery status, the big 400-ounce bars of gold traded by refineries, central banks, wholesalers, bullion banks and professional dealers must remain inside secure, recognized gold bullion vaults.
Take these gold bars out of market-approved storage – even to store at your bank – and they break the chain of integrity that guarantees each bar’s gold to the next buyer.
It’s the integrity of Good Delivery gold bars that ensures maximum resale when you come to sell. But until recently, private investors couldn’t easily access this market unless they were able to buy a whole 400-oz bar. Nor could they arrange market-approved storage unless they owned five big bars or more.
At BullionVault, however, you can now buy gold in amounts as little as one gram at a time. Stored in market-approved gold bar facilities, your gold will retain its maximum resale value. Storage fees for owning a portion of these big gold bars run as low as 0.12% per year, with insurance included. Estimate your commission and storage fees using our cost calculator.
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Examples Of Popular Gram
It would be exhausting and tedious to detail all of the gold bar programs in which you could find Gram-Kilo Gold bars, but that doesnt mean there arent a few standouts that can be highlighted as some of the best-selling design collections in the world. Sticking with the list above, consider the following designs:
Gold Bar Storage In A 3rd Party Non
You can elect to deliver and enjoy third party gold bar storage safely and securely with Kitcos Allocated Storage Program.
Kitco offers multiple non-bank gold vault options all of which are fully insured, segregated, and would have your allocated gold bars recorded as your direct property at all times.
Our top-tier gold vault network includes some of the most secure gold storage facilities located in Canada, Hong Kong, the United States , and the Cayman Islands .
Keep your physical gold bullion bar purchases safe outside of the banking and financial systems with our Gold Storage Solutions.
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The Advantages Of Buying Gold Bars
Tip: Youll get more ounces for your money with bars than coins.
The primary reason investors choose a gold bar is that its less expensive than a gold coin. Premiums are lower because coins have a more intricate design and thus greater labor and machining costs. Coins may be prettier, but youll pay extra for that appeal. The other advantage of gold bars is that theyre easier to store. A gold bar takes up less space than the same number of ounces of coins. In fact, bars were originally designed specifically for ease of storage.
Buying gold bars doesnt compromise any of the core advantages of gold: theyre portable, private, liquid, and will last forever.
How To Store Gold Bars
Part of buying gold bars is where youll store them. While keeping some at or near home can be useful, you dont want all your physical wealth vulnerable to one act of misfortune.
The ideal solution is to keep what you think you might need in an emergency close byand then get the rest of your holdings out of the house, and yet still have it easily accessible at any time.
That option is available. Private, non-bank, fully allocated, fully-insured class-3 vaults offer the highest level of security and are the best way to keep bullion safe during times of financial and social crises.
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How & Where To Buy Gold Bars
Jeff Clark, Senior Analyst, GoldSilver
If youre looking to invest in physical gold at the lowest possible price per ounce, theres no better choice than gold bars. Coins may be more attractive, but all that manufacturing and packaging comes at a price. Gold bars, on the other hand, are the stalwart of the industry, what everyone from average investors to central banks buy and store. In other words, you cant go wrong buying gold barsprovided you follow four tips including where to buy gold bars.
In this gold bar buyers guide, well cover:
- Why buy gold bars?
- How to buy gold bars?
- Where to buy gold bars
- Which gold bars to buy
Gold Bars: Government Gold Mints Vs Private Gold Mints
One of the most frequently asked questions is, “What gold bar should I buy?”. Gold bars are mostly traded based on their .999 fine gold content. Thus, the most important factor influencing gold bar prices remains the purity and the weight of the gold bar. However, it is also true that the more regarded and renowned the gold bar’s mint is, the higher the price the product will fetch. For instance, a sovereign national mint, such as theRoyal Canadian Mint , is easily recognizable by investors worldwide. Their products are known to contain top-notch quality. Therefore, it’s possible that a gold bar from the RCM, much like a gold coin, will be easier to sell back to a gold bullion dealer and get a better price than less known mints.
The same goes for highly praised private mints, such as PAMP Suisse or Valcambi. Investors will recognize their logo and fame all around the world so they should obtain slightly better prices as well.
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Where Is Gold Found Today
The average human body contains about 0.2 milligrams of gold, some of it in our hair but most of it is in our blood. There are approximately 190,000 tons of gold above ground worth more than US $7.6 trillion. Mine production adds approximately 2,900 tons per year, equivalent to an annual 1.6% increase, but there are still approximately 52,000 tons of minable gold in the ground worth US $2 trillion.
Buying 10 Oz Gold Bars From Jm Bullion
We encourage JM Bullion customers to reach out to us with questions at 800-276-6508. Our team is also available to you online through our live chat and email address features. If you have questions about Payment Methods, you may find our FAQ page on this subject helpful in determining what methods of payment are accepted and what minimums, if any, apply to your purchase.
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What To Expect In Gold Bullion Bars
Beyond the size, shape, and style of the gold bars available to you from JM Bullion, you can expect a few commonalities among the bars offered. The vast majority of gold bars today are refined with .9999 pure gold content regardless of weight or type . Minted ingots are originally available in most cases housed inside of tamper-evident protective packaging and come with an assay card that verifies the weight, purity, and metal content of the product as judged by a certified assayer. In most cases, gold bars also have a unique serial number issued by the refiner. When bars are available with a serial number and assay card, that card will also reflect the individual serial number as engraved onto the surface of the bar.
Buy Gold Bullion Online
There is no precious metal in the world coveted more than gold. The famous yellow metal has been a standard by which wealth is measured for centuries, and as civilizations took the first steps out of the Dark Ages and into international trade in the Middle Ages and beyond, gold was there as the standard unit of commerce used by nations and people who spoke different languages. Despite language and cultural barriers, everyone understands the value of gold. Today, gold bullion remains a primary vehicle for private investment and the protection of wealth. The JM Bullion catalog contains a wide array of gold bullion products, some of which you can learn more about below.
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Do Bank Sell Gold Can You Sell Gold Coins/bars At A Bank
The first is to find a local bullion dealer, which may or may not be easy depending on your location and proximity to a large city. Bullion dealers offer a safe and cost-effective method to buy precious metals. The second local option is to buy physical bullion at the bank. You might have always assumed that your bank only worked with dollars and cents, but many banks also offer bullion services. You might ask yourself, does TD bank sell gold? Does Scotiabank sell gold? Yes, you can buy and sell gold coins and bars at the bank, including TD Bank and Scotiabank. TD Precious Metals and Scotiabank Precious Metals both offer convenient access to gold, silver, and platinum. Scotiabank is actually one of the worlds largest dealers in precious metals, and their history dates back over three centuries. They deal in bullion, coins, and Scotiabank bar products for personal investment or keepsake purposes and advertise that precious metals can be ordered through your local branch.
Why Prominent Manufacturers Matter
Savvy investors recognize the importance of buying a gold product from a prominent manufacturer to get top dollar when they are sold.
Savvy investors recognize the importance of buying a gold bullion product from a prominent manufacturer to get top dollar when they are sold.
Money Metals Exchange offers gold bars for sale from some of the leading mints in the industry, including:
Well-known options for investors looking to buy gold bars include:
- PAMP Suisse Lunar
- PAMP Suisse Multigram Portfolio
- Valcambi CombiBars
The Valcambi Combibars are innovative bars and are scored and designed to be easily separated into smaller segments such as 1 gram or 1/10th ounce. Each segment carries the Valcambi brand along with its weight and purity. They are an ideal way to get the versatility of small denomination coins at a lower price.
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What Are The Options For Buying Gold
When you want to buy gold, you have the option to buy gold bars, gold jewelry, gold rounds, or gold coins from sovereign mints and/or precious metal refineries.
Gold is extremely rare a miner is more likely to find a five carat diamond than a one-ounce nugget of gold. Even mining all of the oceans in the world would yield only 10 parts of gold per quadrillion though they are estimated to hold up to 15,000 tons of gold. Buying gold is a whole lot easier than finding gold.
There are three main considerations for gold product selection:
- premium cost
- country of origin
- sell-side tax
Generally, non-legal tender gold bars are cheaper than legal tender coins by a few dollars per ounce. Clients seeking to purchase gold for the least possible price favor gold bars. The larger the bar, the lower the premium per ounce. Gold bars issued from government mints are IRA eligible. The downside is that the IRS requires precious metals dealers to file a 1099-B form when repurchasing gold bars in increments exceeding 32 ounces per transaction.
Around half of all gold mined today is made into jewelry, which remains the single largest use for gold. For those who have decided to purchase gold bars, there are several factors to consider when making your purchase. For example, from which mint should you buy your gold?
Small Size And Easy To Store
Beginning investors, or those who simply do not have much room in their residence for the storage of precious metals, are drawn to 1 oz gold bars due to their small size. Every 1 oz gold bar we offer is able to fit comfortably in a pants pocket, a testament to how small these bars really are. Contrary to popular belief, you do not need some large vault or special room in order to store your gold bars seeing that even an investment of 50 1 oz gold bars will still be able to fit in an average desk drawer or something of comparable size.
Storage of their precious metals is something many investors neglect to take into consideration, though with 1 oz gold bars storing your metal is as easy as it can possibly be.
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Where To Buy And Sell Gold Bars
Finding the best gold bar prices isnt just about paying the lowest priceits also about getting the best quality and service for what youre paying. A gold bar is nothing if its not guaranteed to be what it is.
Gainesville Coins Inc. Showroom
And in this day and age, counterfeit gold bars are becoming ever more sophisticated and deceiving. Unfortunately, a great many of these fake gold bars are being hawked online by shady companies with no physical address or phone number. They are frequently sold via backdoor transactions in a parking lot. Such outfits may claim their low gold bar prices are due to paying no storefront overhead. In reality, theyre profiting by selling knock-off gold-plated bars filled with copper or tungsten.
Perhaps worse still? Even if the gold is real, such deals can often involve stolen goods that could land you in legal hot water for possessing them.
Sadly, many gold bar buyers who think that they’ve made a great deal by buying from these sort of people, find that their investment is worthless when they try to sell them.
Its safest for your pocketbook and peace of mind to buy gold bars from a trusted coin dealer or bullion firm. Follow the link to view gold bars for sale at Gainesville Coins.
Kilo PAMP Suisse gold bar