Long gone are the industrial days; the world has evolved into the information age and while knowing is good, to know alone is not good enough. In today’s economy it’s imperative to educate yourself and exercise the education that you’ve learned in anything that you do. For the purposes of this discussion, you don’t need to be a savvy investor to get in the game of gold acquisition. And I’ll outline some simply, easy to understand “nuggets” (no pun intended) to help you make some educated gold buying decisions.
So, how do you know that you’re buying gold wisely?
Well, without question I believe that you should take physical possession of your gold. Paper assets will not do. Gold is your asset so why let others hold it for you? Now, I’m not referring to a storage company or safeguarding strategies. What I’m talking about is walking into the bank, for example, and purchasing an ounce of gold. If the bank instead hands you a certificate over your actual asset being the gold itself then I would suggest not doing business that way. Gold that is not in your hand is risky business. Do not practice accepting paper ‘as’ gold.
Secondly, not all gold was created equal. Verify that the refinery that produced your gold bars and ingots is an LBMA accredited refinery; this stands for London Bullion Market Association. You can Google them to learn more about their organization and the ways they help to protect consumers.
Gold accumulation can be done in many variations and if jewellery is your thing then that’s fine. And although it is possible to acquire gold in many ways and many types, I suggest that you acquire and accumulate “currency grade” gold; that is 24k, 999.5 to 999.9 fineness which is my third point.
When doing so, you should acquire your gold in a variation of sizes. There are a multitude of reasons for doing this, primarily for ease of exchange. Smaller gold bars would be ideal in trade for day-to-day transactions like buying groceries or paying for fuel. However, if you have a kilo of gold in one bar for example, that would be better suited for a down payment on a home or a comparable major purchase.
I would also recommend that you acquire your gold off shore. That way it’s a private sale and cannot be confiscated as FDR did to the American citizens in 1933. I would strongly recommend you Google that to learn about what happened. What you read may shock you!
These are just some of the basic ways to buy gold wisely. There are many benefits to owning physical gold and you can learn more about those benefits by clicking here.
Source by Ryan Forrester
Buying Gold Wisely - How Do You Know That You"re Buying Your Gold Wisely?
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