When it comes to investing in precious metals, in the old days you had to go to the nearest coin shop and hope that they have a good piece of gold bullion in stock and that they were not charging too much for it. However, thanks to the internet, those days are over because today you have many different ways to buy gold online.
One of the biggest downsides to buying gold in person is that people could see you make the purchase and know that you now have gold on you and in your house. This would make anyone a target for theft or worse. When you opt to purchase gold online, no one but the company you are buying from knows that you are buying the gold. The mail or postal carrier has no idea that they are carrying the precious metal and no one ever sees you getting it. It’s just a safer way to invest in gold.
At the same time, there is also the ability to make use of any online trading and investment company to trade in gold commodities online. More and more people are investing online these days as it is a much simpler way to take control over your own investments.
If you do not like the idea of purchasing a certificate that says you own gold and would rather physically own it, then you have many fine options to choose from. There are a wide variety of coins plates and bars that are available on the market today. These range in many different weights that can be as little as an ounce or as much as 400 ounces.
The gold bars that you see on television and in the movies are 400 ounce bars known in the industry as Good Delivery bars. At 25 pounds each, they are much heavier than the actors make them appear. They are also very expensive with a single bar costing you more than $680,000 in today’s spot prices; more than if you count in the handling fees of the agent and services which will transport the bar safely.
Most people tend to stick to smaller bullion sizes. You can buy small plates and coins that are only an ounce. You can get coins up to 5 and 10 ounces, but the plates and bars can get very large. At the same time, they can also come in many different purity contents. However, when it comes to investing, it is important to make sure that you are only getting 99.9% fine gold bullion.
While there are many fine and reputable online dealers and reseller’s of gold bullion, there are also many sites that are out to scam you. Make sure to do your research before hand to make sure others have purchased from the online vendor and have not had any issues.
Also make sure to ask questions regarding the dimensions and weight of the bullion. A reputable vendor will usually have this information readily available and advertised. With this information, you can verify whether or not the bullion is advertised properly.
There are 19.3 grams in every cubic centimeter of pure gold. If you know the dimensions in centimeters then you can determine the volume of the bullion as well as its expected weight with some basic math. Compare this number to the advertised weight and you will find that the advertised weight is just under the expected weight.
This slight reduction from the expected weight is caused as a result of the stamping and etching process which leaves voids in the volume. If the advertised weight is more than or significantly less than the expected weight, then you may want to go somewhere else to buy your gold.
Just remember to stay vigilant to ensure that no one takes advantage of you. It is perfectly safe to buy gold online as long as you take the time to research the dealer and make sure that others have had good experiences when purchasing from the vendor.
Investing in gold is an excellent idea. The value of gold never goes down. Over time, it will continue to increase and the longer you hold onto it, the more it will be worth. Keep in mind that while the average cost of gold increases by 2% annually, the average inflation rate increases by 3% which technically makes the gold worth less over time. However, you will never actually lose money when you finally sell it, but rather get back more than you initially bought it for.Dan Craig