When looking for places to buy gold from, be that in bullion form or via coins, finding them for a good deal isn’t exactly easy. Precious metals are precious for a reason, after all, and it’s hardly a secret that they tend to be a bit expensive. However, don’t let that dissuade you or turn you away from this style of investing.
You see, despite the fact that they can be a bit pricey in some circumstances, there are ways to get premiums on gold coins if you know where to look. A lot of it does come down to the seller that you work with, so make sure to take that into account before you dive right in. Something that might help is to look at historical prices for gold, although sometimes all of the different figures provided can get difficult to unpack.
The trick is to find a broker that you enjoy working with and that you know you can trust. If you want to know how you can do that, and thus get premiums on stuff like gold coins, this is the article for you.
Buying Coins and Bullion – How it Works
Depending on where you live, you may have seen shops around that let you buy gold or collectibles. They’ve started to crop up a lot again, thankfully, so chances are there’s somewhere local. Additionally, though, there are a ton on the internet if you’d prefer to look there. That’ll be up to your own preference, of course.
Some of the retailers that you can find online don’t actually sell their products digitally, though, so that’s something to keep in mind. Instead, their sites are more of a hub for potential and current customers to peruse to get an idea of what’s coming next and the values of their company. There’s an example in this report on Fisher Precious Metals, where you can see an explanation of a practice similar to what’s been described.
Obviously, though, the need to call to place an order really isn’t that unreasonable. For the socially anxious amongst us, though, it can feel like a real hassle. Sometimes, there are trade-offs like this in the investing world, though, so it’ll be up to each individual investor to pick and choose the lesser of two evils.
Pricing Concerns
At face value, it feels like each retailer should have the same prices for their goods, right? The thing is, depending on their suppliers and certain other fees and upcharges that each seller adds onto the products, you’ll find a wide variety of pricing out there. Some have better ones to offer than others, which is where the idea of premiums comes from in the first place.
Unfortunately, it’s not always that easy to compare the pricing options between retailers. That’s where looking at different reports and reviews can come in handy, though, especially for anyone that doesn’t really want to do all of their own research. That sort of thing can be quite tedious, so if we can make it faster, that’s certainly a plus.
As you can see here, https://www.sciencedirect.com/science/article/abs/pii/S026499931400385X, the prices of gold fluctuate a lot on a day-to-day basis. However, when you look at it on a wider scale, you’ll notice that they remain pretty constant in the long term. That’s probably why we see so much variety in terms of the pricing of models at different sellers, though – some of them are basing it off of the short-term changes.
Sadly, this tends to be worse for the customer, so it’s certainly something to watch out for. Really, it’s a good idea to approach any retailers with a certain amount of caution. Again, it doesn’t hurt to look at reviews from other customers to see what folks have to say. This can give you a gauge on whether they offer those premiums or if they’re up charging.
Is Gold Investing Worth it?
The last concern that a lot of people seem to have is whether or not gold investing is worth it in the first place. Honestly, the answer here is generally going to be “yes,” purely because of how this style of asset has stood the test of time for decades, centuries even. There’s not a time in human history since we discovered it that people haven’t wanted to get their hands on gold.
You can get an idea of what that’s looked like on this page, if you’re curious. Big takeaway, though, is that it’s not exactly likely that gold or the other types of precious metals will lose their worth any time soon. That means that for investors, it’s a safe bet to put at least some of your net worth into it.
In fact, if you store your wealth in precious metals (be that bullion, coins, or something else), it can serve as a way to protect your money from inflation. Often, it’s called a “hedge.” The idea is that because gold doesn’t lose value in the same way that paper currency does, you’ll end up not losing any money in your retirement or savings account this way.
Really, though, the main draw is that you aren’t likely to lose anything in general when you decide to invest in precious metals. For that reason alone, it’s not hard to see why most financial experts agree that it’s well worth your time and energy.
