breaking news The ultimate video guide to investing in gold: How to buy and store gold like a pro
Video: How to invest in gold by buying real gold coins
If you are considering buying gold as an investment, there are some things you need to know beforehand. This excellent video covers everything you need to know about buying gold or silver without making costly mistakes.
To begin with, when buying gold, you must focus on the most popular type of gold – government backed bullion coins. Because these investment-grade coins have no numismatic or collectible value, you pay for the gold content plus a modest premium above the current price of gold.
The American Gold Eagle, available in four sizes, is the most popular gold coin in the United States.. We recommend first time gold buyers to start with a one ounce coin. This coin has a face value of $50 and contains one full ounce of gold. Another popular alternative is the American Buffalo, but since it is a 24-karat gold coin, it should be handled with care.
When buying gold coins, you need to consider the spot price of gold, premium and sales tax. A quick internet search will yield the current spot price, which will change. For one ounce gold coins, the premium is normally around 5% and sales tax is rarely applicable.
Gold coins can be purchased safely from local coin shops or internet bullion dealers. Local coin shops usually offer the highest prices, but their range is limited and coins can be an aftermarket. Internet resellers are normally more expensive, but you can shop around and compare before making a purchase.
When it comes to gold storage, store your coins in capsules or tubes and keep them in a personal safe or safe. Handle gold with care as it is easily damaged and dented.
In conclusion, when buying gold as an investment, stick to the most popular government-backed bullion coins, keep spot price, premium, and sales tax in mind, and consider to store your gold in a safe place. With these guidelines in mind, you can buy gold with confidence and maybe even have fun with it.