Gold is a precious commodity that’s unlike any other. For one, it doesn’t depend on economic factors or the value of other assets for its price. Two, it has always stood its ground even when fiat currency has dropped.
Thinking of investing in gold? Here’s a simple guide to get you started.
Invest in Gold ETFS and Funds
Gold-based ETFs, or exchange traded funds are good for those who want to invest in gold. They work just like stock exchanges where the funds can be sold or purchased via an IRA account or brokerage.
This method is easier compared to owning gold coins and bars directly, especially for those who are just starting out or don’t want to commit too much money.
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Try Gold Bullions
One of the most common ways to have direct gold ownership is by buying gold bullion. They’re not the same as the gold bars in Fort Knox. By definition, a gold bullion is anything that’s made of pure or nearly pure gold and has been certified for purity and weight.
Common examples of gold bullion are bars, coins and similar items. These will have serial numbers attached to them for identification and security purposes.
Gold Coins
Collectors and investors can invest in gold coins, which are usually bought in private dealers with a 1 to 5 percent increase on top of its underlying value.
Bullion coins are available on publication and minted in smaller sizes, thus making them beginner-friendly compared to gold bars. Furthermore, it’s relatively easy to search for reputable dealers of gold coins.
Older and rarer coins are often worth more than their weight in gold. Opt for widely circulated ones such as the US eagle, Canadian maple leaf or South African krugerrand.
