Besides being a great metal for timeless jewelry, gold is one of the best choices for investors. Investing in gold might be a wise idea, but you need to be careful, as well. Buying precious metals can be tricky, because all dealers are not always trustworthy, and you must make the right choices too. In this post, we will talk about how you can buy gold and other things you need to note.
- Go for coins. For small investors, gold coins are ideal tangible investments, and you will find many dealers who deal exclusively in such coins. You can choose a size/weight of your choice, and when you need money, you can always exchange coins for quick liquid cash. If you have more money to spend, bars are not bad either. Just avoid the pawn shops and stick to known and reliable dealers for getting real value for your money.
- Check for ETFs. Big investors are often interested in ETFs or gold exchange traded funds. Launched first in 2003, this kind of physically backed gold ETFs are great for those who want to spend their money considerably on gold and are not concerned or bothered by the tangibility of the assets.
- Go for gold accounts. A number of gold dealers and bullion banks also offer accounts for customers for gold deposits, which are very similar to currency accounts. When you place an order for gold in the weight of your choice, the bank will buy gold on your behalf and add the transaction to your account.
- Mutual funds and futures. If you wish to invest in gold and are not concerned about physical gold, mutual funds are your pick. Futures are also a great choice for sure, but do remember than future contracts are not for the casual investor. You need to have a broker and an account, and before you start, do consider the risks.
- Jewelry counts too. A lot of commoners don’t understand much about shares, funds, futures and other complicated terms, and for them, nothing works better than gold jewelry. Besides being a tangible asset, much like coins, you can also use them for your daily life. Just make sure that you go for 18 carat or 22 carat gold jewelry, which is likely to give better returns in the long run, if you need liquid cash that is.
Check online to find the best dealers now!