8Tips On How To Buy Gold Bullion
Gold increases in price when the economy is down
, and family investors tend to hand gold down from generation to generation to increase value. Immigrants may bring gold bullion in from other countries to hold as a hedge against hard times. Investing in gold bullion can be extremely rewarding; however, there are a few rules and warnings to learn before you invest in gold bullion.
*Investment grade gold bullion can be in the form of coins or bars. The amount of gold in the coin or bar is the measure that determines the price. Jewelry generally is not considered gold bullion; however a recent immigrant from South Africa wears her bullion as a necklace.
*One ounce gold coins are the most popular form of gold bullion. These coins are easy to buy and sell since every dealer is familiar with coins. Gold coins are issued by government mints with the most popular gold coins being the American Eagle, the South African Krugerrand, and the Austrian Philharmonic.
*Check for the finest quality of gold coins. The face value is increased by the quality of the coin. The less a coin is worn, the more it is valued. Gold coins come in protective coverings and there should be no fingerprints or scratches on the surface. Never clean a coin. This will reduce its value and cause damage.
*Many unscrupulous dealers assign a grade to a coin and enclose the coin in plastic. They will then sell the coin at an inflated price. Watch out for this practice. As long as a gold coin is flawless to the naked eye, it will be retain its value.
*Gold prices change daily and dealers base their prices on the daily rate. Know your rates and be aware that gold prices are listed as dollars per ounce.
*Search for shops that specialize in precious metals. Find a dealer with a long history who is not afraid to list the buying and selling prices publically. Coin dealers may also sell gold bullion, but be careful to check the inventory.
*You will often find that in some states there is no sales tax on gold transactions of more than $1000 and you may get a price break if you purchase specific amounts. Free shipping and insurance can be negotiated. Get the buyback prices in writing and establish good rapport with your dealer. This will ensure that you always get the best selling and purchasing prices.
*In today's down economy, there are many gold bullion dealers who will try to take advantage of you. Be informed about pricing and quality, so you do not lose your investment. Deal with reputable gold dealers, do your research, check backgrounds and have fun.
by: Adrian Getty
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