Blog Business, Economy and Finance in Canada
There is a consistency in history regarding the economy and gold, which is this: when economies tend to struggle, gold tends to hold its value and prosper. Investing into gold can be approached in a number of ways, the way we are going to address in this article is going to be gold coins.
Gold coins are a safe investment on account of them having high gold purity and are commonly traded through metal dealers.
Gold coins often times will hold the value based around gold weight itself, which makes it convenient to keep track of and know exactly what you have. Between the years of 2005 and 2011 there was a 400% increase in value around the gold market, and yes, that number has come down.
The point being made here is that while gold price may fluctuate, it rarely ever reaches a point of losing its value. It’s a safe investment. If it’s something that you are interested in, the following are a few tips to keep in mind to make wise investing decisions:
One key factor that is fairly universal is the fact that gold coins aren’t an item meant for the use of trading. A rule of thumb appears to be that you should not hold onto gold coins for more than a period of three years.
Also be aware that when purchasing gold that dealers will be looking for cash, a bank wire, or a cashier’s check as acceptable payment.
There are specific coins that are easiest to buy and sell, the most popular happen to be:
There are other options available, but if you are just getting into purchasing gold it’s a safe choice to stick with what sells.
Also, it’s suggested to stick around the 1-ounce margin when purchasing coins. Other coins that are considered fractional in weight tend to carry higher premiums.
Don’t forget to compare the prices of dealer around you.
This sounds like common sense, but let me explain. There is an option to purchase coins from a dealer and have them hold onto them for you, however, unless it’s your uncle’s personal business, this isn’t really encouraged.
It’s often suggested that when storing coins you purchase that they are best kept inside of a safety deposit box or a personal safe at your residence.
Unless you are someone with endless wealth it’s best to avoid rare coins. While they might be cool to have, when it comes to their actual value, it’s very hard to determine.
Outside of having professional grading services involved to consider the weight and authenticity of a coin it leaves many factors up in the air, one of them being the overall value of the coin.
Rare coins are considered better avoided unless you are simply buying them as a means of being a collector.
Gold investment can be a profitable and fun experience, just make sure you take the time to educate yourself about it. To learn more information, please visit the Pinto Gold Cash for Gold for their additional online resources.