Buy gold, so do it right!
You decided to hedge your fortune with gold? Here are the 10 most important tips on how to safely and cheaply buy gold gold ira reviews. 1. Buy gold! If you do not have gold yet, act immediately. Buy gold now, regardless of whether the current gold price is considered high or low. As you saw in late 2008 and in May 2010, the run on gold coins and bullions can start very quickly and then it can be expensive (high surcharges) and even impossible (supply shortage) to buy gold. Motto: If gold reveals its true value, then it does not matter if you bought at $ 1,000 or $ 2,000. It is important then just to own it. 2. Buy the right gold Buy only real, so physical precious metal. Buy globally recognized bullion coins (Krugerrand, Maple Leaf, and Philharmonic) and bullion from well-known LBMA certified vendors (Umicore, Heraeus, Degussa) with the highest weight of at least 999/1000. In this way, you get the most gold for the money and find buyers at any time, should you want to sell the gold. 3. Buy gold bars or gold coins? Depending on personal financial resources, but preferably both. Smaller fortunes are best hedged step by step by buying gold coins (and silver coins, see below). Smallest gold bars can be bought from a weight of 0.5 grams. For larger savings, it pays to buy large bars (up to 1 kilogram). Because the smaller the amount of gold, the more you pay in relation to the current price of gold on the spot market. Simply put, two 50-gram ingots always cost more than a 100-gram ingot. 4. Where to buy gold? Gold bullion and gold coins should be purchased from specialist dealers, not from commercial banks. Specialized Gold Traders will give you more choices and lower prices. You can easily order online. If you want to remain completely anonymous, then swap cash for gold at a local stationary retailer. Up to an amount of 9,999.99 euros you can buy without giving personal information gold. A selection of reliable gold traders can be found on this page in the column to the right. 5. Do not speculate As with investing in other asset classes, you should not put everything on a card, even with gold. You should only buy as many gold bars or gold coins as you can afford. That is, you should never be forced to sell precious metals unless there is a real financial crisis. Gold serves as a long-term asset security. In the gold market there are short-term strong price fluctuations again and again. See also point 6. 6. Reasonably weight It is currently recommended to invest at least 10 to 20 percent of the savings in physical precious metals. With this percentage, you can compensate for the losses that will, for example, give you the expected inflation. Depending on how the current crisis develops, you can gradually adjust the proportion. However, you should never touch the 10 percent share. 7. Also buy silver! Silver is often referred to as the gold of the poor man, because you can go with even lower amounts in the system. Silver should not be missing in her private precious metals deposit. Silver is considered to be significantly undervalued over gold, as the price of silver is out of proportion to the price of gold when you consider the amount of ore in the earth's crust alone. In addition, in the event of a real systemic crisis (paper money is no longer accepted) silver coins can serve as a means of payment to cover the daily needs of food and household goods. 8. Buy gold regularly The gold price is subject to strong fluctuations in the short term. Of this one must not be made nervous as a long-term oriented investor (asset protection). Advice: For example, if you buy a little gold or silver every month (say, 10% of what you normally repay), you will permanently secure your assets and reduce the average price of your gold investment as gold prices fall. If you cannot afford to spend more than 100 to 200 euros per month, then just buy every two or three months. Otherwise, you buy the gold too expensive (see point 3). 9. Beware of collector coins On shopping channels on television, there are gold coins on offer, although officially also meet the criteria of a bullion (gold content / awareness of the motive) due to their nature but clearly attributable to collector coins. Due to the limited edition, embossing quality, various special motifs, extraneous metal applications, surcharges are sometimes charged that have nothing at all to do with the material value. If you want to sell such coins in a serious crisis, then in case of doubt no one will reward these qualities. Only the pure material value is recognized. 10. Check prices and compare Use the Internet to compare the prices of different retailers. The offers are sometimes very different. Some retailers adjust the prices of gold coins and bullion in real time to the current gold price. Other traders let the prices stand longer. In both cases you can end up with a better price for your gold purchases. Always check the total weight of the coin / ingot and its gold content. Always ask yourself the following question: How much fine gold do I receive (fine gold content) at the purchase price and what is it worth at the current gold price?
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