Buying Physical Gold For Investing And For Fun

By Andrew Block

Investing in precious metals such as gold, platinum and silver may require that you make a few more decisions than you might find if you were to be buying stocks. Your goals and future investment strategy might dictate the type and quantities of gold that you will purchase. Other aspects of your purchase, such as storage, also should be decided upon before you buy any physical gold since you need to know where to safeguard your investment.

Investing in precious metals such as gold and silver can be thought of as a long term investment that both protects your investment dollars with something real and tangible but also as an investment that is often used to hedge inflation. One aspect of becoming a gold owner that not too many serious investors talk about is the shear thrill of owning some of these valuable metals. Try not to discount the awe factor that you will experience the first time you hold an ingot of gold in your hand or a shiny American Eagle. Human beings have always been attracted to these precious metals and this is one aspect of why they are so valuable to us. Owning even a couple of piece of gold is something on almost every serious investor's bucket list so don't be shy about your desire to own gold.

Of course, the kind of gold you buy will depend upon your goals and the amount of gold you want to buy. Both gold coins and gold bullion are easily found, traded and sold around the world. Both forms of gold can be bought easily and are available in many different price ranges but you will often pay more for gold coins because of the minting process or the process of turning that metal into a collectible coin. Owning a mixture of both bullion, or bars, and coins is a good idea. Either way, having different weights and values of gold is important if you hope to liquidate a portion of you investment at a later date.

For instance, let's say that you have a certain amount of money to invest. Buying one large bar of gold might save you some money during your initial purchase. If you hope to liquidate some of that investment to buy some stock or invest in a different precious metal such as silver or platinum, you will be wishing that you had split up your investment or bought a few smaller pieces for such an occasion.

There are many different places where you can buy gold these days. You can check with your local bank or seek out a local business that sells the kind of gold that you're looking for. You can also invest with a gold company that specializes in the sale of gold and precious metals. Try to find a reputable company that you can trust. Prices and the customer service that you will find from one company to the next can vary. You may find that some of these companies won't sell you gold if the amount that you're hoping to invest isn't high enough. This fact is nothing to be offended over. It is simply an economic fact that they must turn a profit and the more money you invest, the easier it is for them to make a profit and provide you with a competitive price.

If you have a smaller investment that you want to put into gold then you can look for a local store that sells gold. The price that you're going to pay might be higher per ounce but it's a good way to begin investing in gold. Alternately, you can search auction sites for certified gold. Be careful and do your homework, though. Investing in gold can be thrilling but avoid the temptation to buy something that looks too good to be true when dealing with faceless names or companies that are unknown.

Where to store your gold is something that you should think of before placing your order. After all, it's a good idea to know where your gold should be shipped as well as have a plan in place to secure your investment once it arrives. Small quantities of gold stored in your home is always an option but the risk becomes higher with larger quantities. Many people choose to store their gold at their local bank in a safe-deposit box. It is secure there and readily available during bank hours. If you want, the gold company that you bought your gold from can store it for you if you choose to open an IRA or retirement account with them. With gold companies becoming more competitive, it is possible to find one that offers a reasonable, flat fee instead of a percentage of the value of your investment dollars. Do your research and you can find some good deals out there on IRA accounts that include segregated storage also.

If you want your gold to be near and dear to your heart, you can choose to store your gold in your house. You should consider talking to your insurance agent about getting your gold investment insured and they can tell you how much that will cost as well as any requirements. Gold stored in a bank safe-deposit box doesn't require insurance and if you merely want to keep a couple of gold piece around the house, insurance might be optional for you but it is always recommended for larger amounts.

Buying gold can be exciting as well as profitable. If you have ever thought of investing in gold or if you have never experienced owning gold that you can hold then the experience comes highly recommended. Building wealth and investing for the future are often serious business but nothing compares to the thrill of owning some real gold. Have fun learning more about gold investing and investing in precious metals and you may find that you have a new hobby that pays a big dividend in the long run.

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Read this Regal Assets review and find out more about gold investing companies. Learn what you should look for in a reputable gold investment company.