One of the secrets to becoming a successful gold investor is to know all the best places to buy gold - the commodity. Additionally, you also need to know how to avoid the fake dealers. These are some of the things that you will learn in this post.
It is no secret that gold is one of the best and most secure investments. Since time in memorial, it is a commodity that has symbolized wealth and prestige. The market forces that often wreak havoc on the commodity and currency markets scarcely affect its value. It is one of those investments that one can be guaranteed will secure their portfolio for decades to come.
In addition to this, it is a great way of diversifying your investments and spreading the risk. This and other benefits associated with it are one of the reasons many potential investors keep asking themselves where the best places to buy gold are. If you are such a person, then this is an article you have to read.
1. Online Trader
In this modern age, the most obvious answer many people would give when asked ‘where can I buy gold coins?’Is, ‘online traders’? This is quite understandable as there are many retailers who offer different kinds of gold products. These include the gold coins, bars and jewelry. Regardless of which type of product you decide to invest in, it is essential to know how to deal with these online traders.
This is because there are just as many crooked dealers as the legitimate ones. There is nothing as frustrating and hurting as purchasing gold from an online dealer and discovering later that they are of a lower grade than you thought. Even worse, you could be fleeced of your money altogether. That is why you should steer clear of shady dealers.
However, it is not all gloomy as there are several legitimate dealers you can purchase the metal from. One such firm is Bullion Vault. The British retailer is one of the best-known dealers and you can be guaranteed that whichever item you purchase from them is of a high standard.
They specialize in bullions and you can have them stored for you in offshore vaults rather than storing them yourself. Another firm that offers the same deals is Gold Money. You can also visit their websites, purchase the quantity of gold you want, and choose locations in England, the UK, and Switzerland where they can be kept safe. Other traders from whom you can buy gold in any form include Apmex and JM Bullion.
2. Financial Institutions
There many companies selling gold such as gold IRA. Next to national governments, financial institutions hold some of the largest gold reserves in the world. This is because just like regular investors; they diversify their portfolios by investing in gold.
Furthermore, there are people who liquidate their gold assets by selling them to the banks. This is not all as they have been known to acquire the commodity from loan defaulters and other lenders who own gold but are unable to meet their financial obligations. It makes perfect sense why they are among the major sellers of gold. Whether you want the coins, rounds, or ingots, you can be guaranteed of getting them in one bank or another. They also specialize in the sale of gold as Exchange Traded Funds (ETFs) to those who prefer trading their gold just like stocks.
Depending on your country of residence or the financial institution you approach, the prices may vary even for the same quantity and quality of gold. The process of buying gold from these institutions is quite straight-forward and you can get the gold you desire in a short period of time. Firstly, research on the various institutions to find out the cheapest place to buy gold. After doing so, approach them and make your purchase. Finally, ensure that you get the original copy of a valid document certifying you are the actual owner of the gold. It should include the relevant details such as the amount of gold, its carat, the date bought, and of course- your name.
3. Independent Dealers
Not all gold sellers are entirely based on the internet and likewise, not all of them are affiliated with a financial institution. Independent dealers are responsible for a large percentage of the gold that is traded all over the world. They have access to all kinds of gold products apart from just the regular coins and bullions.
These are the same places that buy gold and hence if you want antique collectibles or finely done jewelry, then they are a feasible option. Just like the online traders, however, there are many imposters who are out to make a killing from you. That is why you have to be always aware of who you are dealing with.
There are those who may trade in stolen gold items thereby landing you in hot soup if you are caught with them. There are also others who might sell you impure gold in place of pure ones. Worry not, however, as there are several legitimate dealers who can be found in most cities around the world. Places such as Hong Kong and the Island of Jersey have some of the most reputable dealers in the world. Likewise, the US is home to many legitimate gold dealers that can be found in cities such as Las Vegas and New York.
You can compare prices from one dealer to another before settling on one for the best bargain. And don't forget to read our article on the best way to buy gold and other investment commodities,
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