It has been over 2,000 years since the first gold coin, made by King Croesus of Lydia, was traded in exchange for goods. Since then, gold’s value as a form of money has continued to rise and be sought after by novice and experienced investors alike. And of course, with the internet you now have the option to buy physical gold online, which because of the convenience many feel is the best way to buy gold. Some will hold the gold bars for you, while others will deliver your purchase to your address.
The rise of online gold and silver brokers and suppliers makes buying gold as an investmenCredit: Flickr: digitalmoneyworldt feasible for those just learning how to invest in gold and not just pro investors. Online gold brokers give you the ability to test how gold investments would work for you by allowing you to purchase small amounts of gold over time. You don't have to have thousands of dollars to start buying and investing in this precious metal. If you are just learning how to invest in gold, consider buying small amounts of gold at a time to get a feel for the market and the online gold buying website.
Find a reputable online gold dealer. The World Gold Council website has a directory of where you can purchase gold, which can be sorted by online platforms. These companies must go through an approval process before being listed with the World Gold Council. Also, check with the Better Business Bureau to evaluate any complaints that may have been lodged against the company.
Open an account with the online precious metal supplier of your choice. To do this you will need to create a user name and supply your email address. Some sites will require that you verify your identity. Rules and regulations will vary depending on which country you live in and the country in which the website operates.
Deposit money into your account. Each online gold supplier has several options such as direct transfer from a bank account to fund your account or using your credit card. Some methods may have a wait time while your bank confirms that the transaction was made by you, the account owner.
Purchase gold online by following the website’s process for buying gold. You can enter how much you want to spend and choose to store the gold or have it sent to you directly. There may be fees for storage and restrictions for delivery depending on the website’s terms and conditions.
As with any investment, you should recognize when you buy physical gold online, it does come with risks. Although in the last several years, the price of gold has gone up, reaching $1600 to $1700 an ounce in early 2013 (up from $35 in 1970 and about $1100 in 2010), gold prices can also go down. By investing in this precious metal, you may earn a great deal of money over time, but you can also lose money on your investment.