If you want to purchase physical gold, there are multiple options available to you. Online dealers or local pawn shops tend to be less costly alternatives to mints or banks when purchasing physical gold; however, there may still be associated storage and insurance fees.
Gold ETF shares are another method for investing in gold without actually owning physical metal. They trade on stock exchanges like traditional stocks, making this an easy and cost-efficient investment strategy.
Online dealers
Online gold dealers provide access to an expansive selection of precious metals and can assist in making an informed decision. Furthermore, their competitive pricing stemming from lower overhead costs makes their services very cost-effective for investors looking for physical gold investment solutions; some also provide services like storage and financial advice while some specialize in helping investors incorporate precious metals such as gold into an individual retirement account (IRA).
As well as selling physical bullion, some online gold dealers sell minted coins. These newly issued government-sanctioned bullion coins often have prices which are several percentage points below that of gold’s spot price, making them easier to purchase at major banks, coin dealers, brokerage firms or precious metal dealers.
When purchasing gold, look for sellers that are upfront about prices and outline any risks associated with their product. Your preferred payment method should also be accepted; many online sellers accept credit cards, wire transfers, PayPal and Bitcoin as options for paying.
Bullion dealers
Bullion dealers sell physical gold in the form of bullion coins and bars at a premium above its spot price due to dealer fees and manufacturing costs. You can find these dealers in stores that specialize in numismatics, pawn shops and some jewelry stores – purchasing gold from these sources may prove more costly due to storage, sales tax charges and insurance fees.
Buy gold in bulk to reduce its unit cost and protect yourself from theft or loss, while simultaneously saving on storage fees by taking advantage of commercial storage facilities with additional security. However, this method requires paying additional insurance against theft or natural disasters and the expense associated with these.
An alternative way of purchasing gold is investing in mining stocks or ETFs, which are more liquid investments that you can sell quickly if necessary. Still, these investments can still be volatile so it would be wise to research gold prices extensively before making your decision.
Pre-owned gold
There are various ways of purchasing gold, from physical coins and bars from a bullion dealer, investing in ETFs or holding stocks of companies mining it, or holding ETNs that own this precious metal – but none offer quite the same satisfaction as owning physical gold itself.
Physical gold purchases carry with them the risk of theft if not stored safely. Storing it properly may be costly as well, since storing requires purchasing either a safe or safety deposit box from a bank as well as paying insurance premiums which could add up to hundreds of dollars annually.
Alternative investments that offer lower cost yet provide the same security are gold futures, which are financial contracts representing the right (but not obligation) to buy or sell an asset at a specified price within a specific time period. Although investing in gold futures provides less costly speculation on its value than owning physical gold does.
Best value gold
Gold has long been seen as an investment of choice when economic uncertainties are present, thanks to its track record of holding its value over time and ease of purchase and sale. While gold prices can be volatile, finding good value by purchasing during dips may still be possible; alternatively investing in ETFs – which trade like stocks but typically feature lower management fees than individual mining companies – might also provide suitable investments options.
One effective strategy for finding the best value gold is purchasing multiple units at once. Doing this may reduce overall premium costs as larger bars tend to be cheaper per ounce than their smaller counterparts; you also save on shipping costs when purchasing several pieces simultaneously. Furthermore, diversifying your physical gold portfolio with both bars and coins increases liquidity and provides access to part of your investments if required.