Buy gold, so do it right!
You have decided to protect your assets with gold? Here are the 10 most important tips on how to safely and cheaply buy gold ira rollover guide.
If you do not already own gold, act immediately. Buy gold now, regardless of whether the current gold price is considered high or low. As you can see 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, it does not matter if you bought at $ 1,000 or $ 2,000. It is important then just to own it.
Buy the right gold
Buy only real, so physical precious metal. Buy globally recognized bullion coins (Krugerrand, Maple Leaf, and Philharmonic) and bullions from well-known LBMA certified suppliers (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.
Buy gold bullion or gold coins?
Depending on personal financial resources, but preferably both. Smaller fortunes are best hedged gradually 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.
Important: When buying gold, think of the sale. In other words, they must be able to resell the gold piece by piece, if necessary, without having to saw it. Because that reduces the market value.
Where to buy gold?
Gold bullion and gold coins should be bought 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 absolutely anonymous, then swap cash for gold at a local stationary store.
Up to an amount of 9,999.99 euros you can buy gold without giving personal information. A selection of reliable gold traders can be found on this page in the column to the right.
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.
It is currently advisable 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.
Also buy silver!
Silver is often referred to as the gold of the poor man, because you can go with even smaller amounts in the system. Silver should not be missing in her private precious metals deposit. Silver is considered to be significantly undervalued against gold, as the price of silver is out of all 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 commodities.
Buy gold regularly
The gold price is subject to strong fluctuations in the short term. Of this one must not let oneself be made nervous as a long-term orientated gold investor (asset protection). Advice: For example, if you buy a small amount of gold or silver every month (eg 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 cover more than 100 to 200 euros per month, then just buy every two or three months.
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 subject) due to their nature but clearly attributable to the collector coins. Due to the limited edition, embossing quality, various special motifs, foreign 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 nobody will reward these qualities. Only the pure material value is recognized.
Check prices and compare
Use the Internet to compare the prices of different dealers. 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. In any case, always check: total weight of the coin / ingot and its / their 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?