subject: What To Bear In Mind When Buying Gold Bars? [print this page] Buying gold bars is a very safe financial investment that can pay rich dividends in the future. Gold is a truly unique form of investment, since it is steady and something that can be handed over from generation to generation. In many cultures all around the world, gold is handed over from parents to children, since it is an investment you can really trust, no matter what.
When it comes to actually buying gold bars, it is important to keep a few important points in mind. For instance, it is imperative that you purchase coins and bullion from a reputed dealer. There have been cases of shady dealers selling counterfeit bars, which had a solid gold coating, though contained tungsten or some other metal inside.
It is best to work with a dealer, who is listed in the Better Business Bureau and has a good rating. It is also advisable to buy gold from a national bullion broker. When buying gold and silver, it is very important to work with a reliable and trustworthy dealer. Once you have found a good dealer, you need to decide which kind of gold bars you want to buy.
Big or small?
Gold bars come in different sizes. Some of them are very small, no thicker than a wafer. These are usually the one ounce bars. The largest bars weigh one kilogram. When it comes to buying gold bars, it is generally better to buy larger amounts in bigger denominations, as this will mean lower premiums and lesser mark-up costs. While a one kilogram gold bar may be a better investment, there are other factors that need to be considered.
While buying gold, you also need to think about insurance and storage. Buying large gold bars means you will need to get insurance to protect your investment. You will also need to find a secure area to store your gold. Most banks have special vaults for keeping large gold bars. In contrast to this, the wafer-thin bars have minimal storage demands. They are very easy to hide, which means you can hide them at home. You can easily carry a number of these one-ounce bars in your pocket. Just because these are easy to hide and carry does not mean that you do not need to be careful with them.
No matter what size you finally decide on, make sure that you get documentation to prove that the bars are authentic. While buying gold bars, make a clear assessment of the kind of bars you can buy and ensure you have adequate storage options available. Most importantly, make sure you purchase your gold from a dealer who is reliable.
by: Mayerbetty
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