The best way to protect yourself and your loved ones from the turbulent economy is to have a diverse financial portfolio that includes tangible assets. There’s no room for gambling in today’s financial climate, which is why the demand for gold is growing rapidly, driving the price increasingly higher.
While many who invested in gold even just one year ago have already reaped a substantial return, there is still time left to enjoy this exciting opportunity. Gold prices have been consistently rising for over a decade, and experts agree that this will not be changing any time soon. In fact, some believe that the price of gold per ounce could easily surpass $5,000 in under five years. Gold is currently $1,713 per ounce, so even buying just one ounce of gold has enormous potential in a relatively short time.
Knowing how to invest in gold is the first step towards a brighter future. There are plenty of options, which is why it is so important to learn about different investing methods and strategies before you spend your money.
Bullion bars and ingots are an ideal investing vehicle for those who plan on purchasing large quantities of gold. As with most investments, if you purchase in bulk, you can avoid paying premiums. You can even buy bars that weigh 100 or more troy ounces. This is not ideal if you plan on selling off small amounts to make profit, but they are an excellent choice if you are converting a portion of your savings into recession-proof gold.
Coins are the most popular and widely utilized vehicles for gold investing. They are convenient because they can be sold individually, as needed. They can also be purchased in increments that fit comfortably into the investor’s budget. Coins like the U.S. Gold Eagles and Buffaloes, the South African Krugerrand, Canadian Maple Leafs, and Austrian Philharmonics are minted by various countries to allow citizens to invest in gold bullion without a collector’s premium.
If you are interested in coins, you should consider whether you want to own pieces with numismatic value or just intrinsic precious metal value. For instance, an 1879 $20 Liberty gold coin that is minted in Philadelphia costs only a small percentage more than its gold worth, due to the fact that it is relatively common. That same coin from New Orleans can be worth well over $23,000, due to its scarcity.
Rare coins can be an excellent investment opportunity in their own right, but it is important to remember that they will almost always cost significantly more. This can have its own merit, as they will usually increase in worth much more rapidly than a standard bullion coin.
It is highly recommended that you avoid investing in gold jewelry and collectables, as these will usually carry a significant premium due to the artisan’s work involved. These don’t generally carry the same resale value as standardized coins or bars.
Regardless of your approach, the most important aspect of gold investment strategies to consider is the source. Buying from a trusted dealer like Monex can certainly help ensure that your investment will pay off. Monex has been in the gold bullion and coin business for over 40 years and continues to remain at the forefront of the industry.