Whether you’re a seasoned investor or someone looking to jump into the world of precious metals for the first time, getting a gold bar is a good place to get started. Gold offers many benefits to investors that are conducive to helping their portfolios grow over time. If you’ve ever considered getting a gold bar or have been on the fence about it for a while, then check out this guide to buying and selling gold bars in today’s world. Here’s what you need to know about gold bars.
Is Gold a Good Investment?
The age-old question of is gold a good investment probably has entered your mind at some point during your investing journey. Deciding to invest in precious metals isn’t always an easy thing to do. There are plenty of other metals such as palladium, platinum, copper, and silver that one can choose over or in addition to gold as investment options. Each one has its own pros and cons for your portfolio. Back to the larger question of gold being a good investment, it definitely can be at times. Gold typically retains its value during times of market and stability/volatility and is often used as an inflation hedge. Diversifying portfolio with precious metals is also a solid investment strategy being employed by many investors worldwide.
Types of Gold Investments
If there’s one thing you can say about gold — other than its intrinsic value and importance to human history — it’s bad there are a lot of different ways in which to invest in the precious metal. There are several types of gold investments, including:
- Gold stocks
- Gold certificates
- Gold bonds
- Gold futures
- Gold ETFs
- Physical gold, such as coins, bullion, or jewelry
Most physical gold comes in bar form or coin form and is typically weighed in troy ounces, while its purity is measured in carats. When you’re deciding on a type of gold in which to invest, it’s always prudent to speak with your financial advisor before making any major decisions. Weigh the long-term risks, understand returns, consider storage/security, and learn taxes work for your own gains. Doing so will supply plenty of peace of mind as you explore the exciting world of gold investment opportunities.
Defining a Troy Ounce
When you go to purchase gold bars, you may come across the phrase “troy ounce.” A troy ounce is a unit of measurement unique to precious metals. It’s actually been around since the Middle ages and is pretty easy to define. A single Troy ounce is simply the equivalent of 31.1034768 grams. It’s still in prevalent use today to help maintain gold purity standards and reinforce consistency for trading precious metals.
Where To Buy Gold
So, the next question is where do you buy gold? For any of the non-physical types, your brokerage firm or financial institution can very likely help you with that. When it comes to physical gold, however, there are numerous options. First you’ll need to find a reputable dealer. Physical gold can be counterfeit, bootlegged, and susceptible to scams, so having a reputable vendor is critical. Finding a reputable vendor means doing some research. Find some of the bigger names associated with gold Investments and begin your search there. Reputable dealers like the Scottsdale Mint out of Arizona are a great place to start. Consider starting your investments off with the purchase of an elegant Scottsdale Mint Gold Bar and treat yourself to the finest quality in physical gold on today’s market. Once you find what you like, you’ll be comfortable in the knowledge that you’re safely investing in real gold without worrying about scams or counterfeit precious metals.
How To Sell Them
So you’ve held onto your gold investments for some time and now you’re ready to part with them. Is selling as easy as buying? Of course it is! If you’re planning to sell your gold bars, you can sell it in any market, to a reputable gold dealer / buyer, or even back to the mint if they offer such a program. Just like any other investment, selling can be part of your overall strategy. All you need to do is find the right buyers at the right prices to maximize your ROI throughout your gold investments.
