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How to Buy Physical Gold - Simple Guide for the New Investor

By Edited Sep 5, 2016 0 0

Gold prices continue to be in demand ever since a number of investors and hedge-fund managers had purchased these precious metals as a substitute when the dollar devaluates. Most investors may buy gold to protect them against currency devaluations, inflation or deflation. These investors could treat gold as their only real money when they feel that the global economy is not showing signs of improvement. 

This precious yellow metal is easy to own because buying gold these days is an easy thing to do. With the declining US currency probably because of bankruptcy, people are buying gold. The economic financial crisis could take several years to solve so if you want to plan to invest in gold then this could be the right time for you to buy this precious yellow metal.

Difficulty:
 
Moderate

Instructions

things you'll need:

  • Money
  • Computer
  • Internet Connection
  • Home or cell phone
  • Time to research
  • Necessary documents
    • 1

      Get your big yellow book so that you can check those pages that have listings about gold as well as coin dealers. There are many addresses and telephone numbers that you may see and give them a call so that you can inquire first about their services before doing any transaction with them. 

      Physical gold bars can be bought from gold bullion dealers generally located in larger cities. Some gold bullion dealers may also do the selling simply by mail, phone including online. Their customers will just request the amount of gold that they want to purchase and take their gold or have it sent to their home address.

      You may find several coin dealers especially if you live in a big city that sell gold and silver coins to the general public. If you want to compare their prices so that you can save then you can go from coin shop to another. By the time that you can decide where to buy the precious metal then you can get your check to pay for the gold that you wanted to buy and go home with your yellow precious metal.

    • 2

      Order physical gold through a well-established companies that deal with these precious yellow metals. You can also order gold over the telephone but you need to research and study them first prior deciding in buying them in bulk. 

      If you will buy gold through a reputable website then you need to enter your order on a form within the website itself, then type your credit card number over an encrypted secure box as part of the application and click the submit button. Depending on the delivery service that you had chosen, your gold will soon arrive on your door step inside a sealed package on the day that you expected it to arrive.

    • 3

      Buy these yellow metals either in bars or coins like bullion. Bullion means gold still in its the pure form, usually in bars. It could be expensive but you can buy gold this way as well. 

      Many small coin shops deal in gold coins and larger coin shops will usually sell those physical gold bars although any of these shops (small or large) could order gold bars for their customers. Do your own research because there are some coin shops that will charge you a higher markup price on these gold bars.

      There are national and international gold dealers that advertise online but be sure to look for the official mint websites with lots of good reviews from other buyers before purchasing these gold bars or coins. You may also sell them anywhere in the world when the value of gold will reach high. You could also visit other countries to buy gold. 

      Take note that most gold dealers abroad have certain rules and policies when foreign investors or people buy gold from them so be sure to check this out first before conducting any transaction to these business merchants or wholesalers. Since you will be dealing with foreign gold dealers, you also need to be much more careful since you are familiar with the place.

    • 4

      You can also buy these precious metals through exclusive web sites that directly cater to mining professionals as well as people who really want to become gold investors. It could be more economical to directly own shares in gold from mining companies who want to sell them. 

      Take note that most companies, merchants and coin dealers may give you a free gold investor's kit to guide you step-by-step before you'll invest your time and money for these precious yellow metals.

Tips & Warnings

  • Look for gold coins that are rare or restricted in circulation because these are the ones that could increase in value in the future if you'll decide to sell them. 

    There are also other gold bullion coins popular from other countries that are increasingly being bought by key investors and business-minded families as a way of protecting and preserving their money in times of difficult financial situations. Some people are tempted to purchase these precious yellow metals to safeguard and diversify their assets.

  • If ever you decide to sell your gold then you can just visit any local coin dealer. Most of these dealers are friendly and they will just write you a check for your gold. 

    Another way of selling your precious yellow metal is to send it fully-insured to a well-established company with a good website that has any or all of the valid safety protection or privacy seals like BBB which means Better Business Bureau, VeriSign which secures your private information or TrustE which ensures safety and privacy when you're using the internet for important transactions. 

    Some of these companies will just mail a cheque addressed to you by the time that they can receive your gold. Selling gold is as quick and easy as buying them so it's worth a try.

  • Prepare an extra amount of money for sales tax when you want to buy foreign gold. There are other countries that have strict policies and restrictions on export while some have high transport and insurance costs. 

    Aside from saving an extra amount of funds, you also need to convince and provide necessary legal documents of where you got your funds especially when you want to buy those valuable and precious gold bullion bars or coins.

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