Buying gold online is as safe as any other transaction you make over the Internet, as long as you know that you are trading with a reputable company. The best resellers use SSL encryption and are PCI compliant. In addition, all your shipments are insured for their full value. Buying online is just as safe as buying in a physical store, if not more secure.
However, it is important to be aware of potential Gold IRA scam schemes that could put your investments at risk. Whether you're interested in buying gold ingots or coins, you can buy gold online and be safe whenever you deal with a reputable gold company, such as International Precious Metals. IPM's industry affiliations with the American Numismatic Association (ANA), Professional Coin Grading Service (PCGS), Numismatic Guaranty Corporation (NGC), Certified Acceptance Corporation (CAC), Better Business Bureau (BBB) and the Tangible Assets Industry Council (ICTA) reflect the retailer's commitment to fair and honest business practices that are consistent with the standards of each of these organizations. You may be using an unsupported or outdated browser. For the best possible experience, use the latest version of Chrome, Firefox, Safari or Microsoft Edge to view this website.
If you want to buy gold, you don't have to turn your dressing room into a small Fort Knox. In fact, the only storage you may need is an investment account. Gold bars, more commonly known as ingots, are a popular choice for people looking to buy gold. Bars are generally sold by the gram or ounce, and the purity, manufacturer and weight must be stamped on the side of the ingot.
You can buy gold bars from merchants, individuals or online at sites such as JMBullion, the American Precious Metals Exchange (APMEX) or SD Bullion. And keep in mind that you may have to pay shipping costs and insurance to ensure the safe transportation of your ingots. Gold coins, such as the American Gold Eagle or the Canadian Maple Leaf, are popular collectibles. This means that you'll likely pay a higher premium than you would for the same amount of gold in the form of ingots.
Coins usually have a lower gold content than gold bars. A one-ounce American Eagle coin, for example, has only 91.67% gold. In fact, the coin weighs 1.1 ounces, of which approximately one ounce is pure gold; the rest of the weight is silver and copper. You can buy gold coins through dealers, pawn shops, and individual sellers you trust.
If you decide to buy your gold coins online, be sure to go to a dealer that is listed in the U.S. UU. Whether you buy your gold coins in person or online, you don't want to spend money on counterfeits or on less pure gold than you're led to believe. Jewelry, especially antique pieces, can provide another way to buy gold.
But as with gold coins, you're likely to pay more for the amount of gold you receive, a premium that can range from 20 to 300%, depending on the manufacturer. Also, keep in mind that not all that glitters is gold. Manufacturers use alloys that combine gold with other metals to make their parts more durable or adjust their color. This is how the quality of gold (measured in carats) correlates with purity.
As with coins, you'll need to be very careful when buying gold jewelry. Make sure that the person you buy your jewelry from has a good reputation. You can start with jewelers who are members of Jewelers of America and who have signed a professional code of conduct that requires them to be honest and communicative about the nature of their pieces. You should ensure that you have as much documentation as possible in order to attest to the quality of the gold when you resell it.
If that all seems too complicated, but you still want to have a bit of splashing in your investment portfolio, consider investing in stocks, mutual funds and ETFs related to the gold industry. Instead of investing in physical gold, you can buy shares in companies that extract and refine gold. Major gold mining companies include Barrick Gold (GOLD) and Newmont Mining Corporation (NMC). While your stock prices may not fully match the trajectory of the price of physical gold, they are likely to be correlated.
This allows you to expose yourself to gold as an investment without the risk or headache of dealing with physical gold. Instead of investing in a single gold-linked company, you invest in a basket of gold-related securities through gold mutual funds or ETFs. Gold funds can track the price of gold, include the shares of several gold mines and refineries, or offer exposure to gold futures and options. For investors willing to take more risks, futures and options may be attractive.
If none of those words already mean anything to you, you should probably avoid these gold investments for now, as they are highly speculative. Under a gold options contract, you have an agreement with the option to buy or sell gold if it reaches a certain price on a predetermined date. Successfully buying gold futures or options requires a brokerage account and a great deal of industry knowledge. You'll need to closely monitor your account and the price of gold to make sure you don't miss an opportunity to activate your options.
It can also end up magnifying any losses you incur in the future, and options generally involve taking leverage or using borrowed money to buy securities. If you're looking to get rich with the modern gold rush, you're probably in the wrong place. Over the past five years, the price of gold increased by approximately 36%, while the price of 26 pence 500 rose 104% during that same period. .
In fact, you can easily create a well-diversified investment portfolio without gold entirely. But if you want some of that golden glitter in your investment account, try to make it take up only a small percentage of your investment dollars. Kat Tretina is a freelance writer living in Orlando, Florida. He specializes in helping people finance their education and managing their debts.
You will receive your purchase immediately, instead of having to wait for shipment. You know exactly where you got the ingots and who sold them to you, so if there are any problems, you know exactly where to go. Some people assume that this gives them more protection against fake or overpriced products. While vaults like this exist, gold bars are much more accessible than the average gold owner can imagine.
We interviewed Don Durrett, a longtime investor and author of the book “How to Invest in Gold and Silver,” to help answer the five most common questions about buying gold. Investing in mining stocks is riskier than buying physical gold bars or coins, but the benefits can be more significant and include dividends you won't get when you buy a piece of gold. That said, gold prices can be very volatile, meaning that gold is not a totally safe investment (or even primarily). However, many renowned precious metals companies across the country sell genuine government-issued gold coins and genuine gold bars, even online.
It's good to have gold or silver right away, but waiting a few days to get it can save you a lot of money. Since gold tends to perform well when the economy is in recession, most people buy it as a type of financial insurance policy to hedge their bets against the value of the dollar in the market. In general, avoid buying gold online through deal sites; you can end up in a bidding war and paying more for a gold coin than it's worth. In addition, gold merchants who offer free storage or delivery delays may not be legitimate, Consumer Affairs reports, and you may never end up seeing the gold you paid for.
In his book How to Buy and Sell Gold and Silver Privately, Internet marketing expert and business coach Doyle Shuler explains many of the complexities surrounding taxes and buying gold. .