Silver and gold rounds sell in the millions every week. While not meant for trading, gold and silver make solid long-term investments. Store your silver and gold bullion in a safe place against emergencies that come up in life.
Keeping your eye on the prices to buy and sell your silver and gold rounds is only one piece of the puzzle when gold investing and silver investing. There is so much to consider when looking into the investment, where do you start? Well, read on for five things to consider before buying silver and gold rounds!
1. Don’t Buy With a Credit Card
You should only buy with cash since any dealer will need to mark up the costs to compensate for the credit card fees. Many reputable dealers won’t accept credit cards for gold and silver purchases. Paying with cash, means you are only paying for what the precious metals are worth.
2. Make Sure It’s Real Bullion
A sad fact is that there are scammers out there eager to sell you fake bullion. Any reliable seller will have a test on hand that can verify the purity of your gold bullion. Follow a guide for buying and never buy from a seller that won’t allow you to test!
To avoid being the victim of a scam in the first place, always go to a reputable seller. You should do a basic background check on the seller before buying. Places like the Better Business Bureau can tell you a company’s reputation.
3. Only Buy Widely Recognized Bullion
Your best bet is to buy bullion that is widely available and widely bought and sold. Solid examples of this are the Canadian Maple Leaf gold coin, the American Eagle gold coin, and the new American Gold Buffalo coin. Avoid coins that are popular only in limited areas if you want to maximize your value.
4. Keep It in a Safe Place
Don’t store your gold and silver with a dealer. It’s too easy to steal your investment, and having it in your possession is the best thing. The entire point of buying commodities such as gold and silver is security.
Keep your coins in a safety deposit box or a home safe. Always keep it a secret and in places you can control. The fewer people that know about your gold and silver, the safer it is!
5. Compare Prices
Whenever you are set to buy, always check prices from the various dealers for the best prices. Some dealers will sell for more premium prices than others. You should also buy local whenever possible.
Paying for packing and shipping costs will add more than you need to pay for your silver and gold rounds. You want to pay the lowest about you can, within reason. If the prices are too low, the dealer may be suspect.
Invest in Silver and Gold Rounds
Silver and gold rounds are sound investments for your future. The price fluctuates, but if you hold onto them for the recommended three years you are more likely to get a nice return on your investment. Gold investing and silver investing are a solid way to invest in your future!
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