Buying Gold - What to Look For

Gold is a physical, tangible asset that is one of the oldest and most enduring forms of legal tender. Gold has long been considered a measure of true wealth, both currently and historically. Among the features and benefits to consider when acquiring gold are the following:

1. Divisibility

Gold products come in a variety of sizes ranging from one gram bars to one kilo bars. Many people prefer coins which are smaller than the traditional one ounce coin due to its size as well as the ease of liquidating in increments of less than one ounce.

2. Privacy

Privacy is among a buyer’s top concerns, especially with the rise of identity theft. Certain gold coins can be liquidated with a minimum of personal information. Unlike many financial assets, buyers should not be required to provide a Social Security number when they sell certain coins. Consumers are advised to be careful about sharing their social security number with others. You should consult with your tax advisor regarding the proper reporting and taxability for all coins, precious metals, and rare currency.

3. Potential

Protection from Confiscation Based upon precedent, gold bullion and bullion coins can be confiscated by even the USA government in times of national emergency. When the US government last confiscated gold from its citizens via Presidential decree in 1933, gold coins with “a recognized special value to collectors” were exempt from confiscation. Owners of these select coins were able to retain these assets throughout the entire 20th Century, even during the several decades where gold ownership by Americans was outlawed.

It is recommended that you acquire a sound understanding of precious metals, coins, and their markets. Perform your due diligence, review your risk and let reason and common sense be your guide.

Source by Dave Lovett

Buying Gold - What to Look For