Learn How can I Purchase Gold Online?
Learn How can I Purchase Gold Online?
Did you know that most of the people on the TV or in the shopping mall are ripping you off? Seriously. They're paying you 50% less than what your gold is worth. Some of these scam artists will do the same thing if you go to buy gold in person or online. You've got to know a few things before you buy.
We've entered a worldwide crisis and in a crisis gold and silver do very well; they hold their purchasing power when paper money fails, so it pays to learn as much as possible about gold and silver investing. Let me rephrase that; you should have learned about it 10 years ago, now you have to learn about it immediately because paper money is going to zero.
Gold in your hand, physical gold could be 24k, .9999, bullion, or pure gold, but it may not be. It could be a coin that is only .9 or it could be jewellery which is only 18k or a foreign gold coin with brass or copper in it that's only .750.
24k is .999 or higher
22k is .916
21k is .875
20k is .833
18k is .750
15k is .625
14k is .585
10k is .417
9k is .375
8k is .333
1k is .042
You're probably wondering what the heck this all means, right? It relates to jewellery and scrap gold and, if you deal in buying and selling jewellery and scrap gold, you are entering a much more advanced game than a beginner should at least if they want to save and make money!
Buy and sell .9999 gold coins and you will have much less hassle. Bars can be a problem when prices get very high, because buyers may not trust that the bar is pure.
Bullion coins like U.S. Buffalos and Canadian Maples are .9999 and recognized around the world; you could reasonably buy or sell anywhere and the premium' is low. What's premium? Premium is the percentage the dealer charges. Gold dealers charge premium every time they buy or sell. This is how they earn money. If they smell a chance to crank up the premium and rip you off, some will. The people buying jewellery on the T.V. and at the shopping mall are ripping you off as much as anyone can.
So who can I trust? Me, I've bought and sold to dealers in many places and I have experienced most rip-offs at the smallest level. I don't deal with small operators much anymore, unless I've known them for a while. I deal with Kitco.com and Goldmoney.com and I buy online. Why? I do it, because they charge the lowest premium. Basically, you can expect to pay very close to the international spot price. A small-timer may tell you some kind of story about fees' that he is incurring at the mint or that there is a shortage, and use these stories to add 5-15% premium. They're just lying, straight up.
Goldmoney.com displays the exact price for which they are buying or selling gold and silver, at any given moment, 24/7. So does Kitco.com.
Shopping online is sensible to begin with, if you value privacy. Purchase Gold Online is a no-brainer, it's very prudent.
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