As you very well know, investing in gold is big business. Every week millions of gold bullion coins are sold all over the world. This equals a big money making opportunity for those who distribute gold. But as the saying goes, everything that glitters isn’t gold. That’s why its important you know a few things before you invest in gold.
Here are 4 tips for those who wish to invest in gold:
Tip #1 – Stay Away From Rare Coins
While buying something rare is very appealing, if you aren’t an expert in rare coins there is a good chance you will end up getting ripped off. Unless you plan on hiring a professional grading service to help you investigate the rare coins, its best to stay away from them.
Tip #2 – Compare Dealer Prices
Just like you would shop around when buying a car or home, you should do that same when it comes to investing in gold. The good news is comparing gold prices is fairly simple. Once you know the spot price you can easily figure out the premium for which the gold is being sold. As a rule of thumb, never pay more than 5 percent for gold bullion coins. To find out the spot price of gold visit Monex.com or Kitco.com.
Tip #3 – Focus On North American Coins
The easiest coins to buy and sell are the American Eagle and the Canadian Maple Leaf. The interesting thing about the American Eagle is its gold content and purity is backed by the U.S. Mint. American Eagle coins can also be put into individual retirement accounts.
Tip #4 – Ask About Dealer Buyback Policies
When investing in gold, there will come a time when you will wish to sell it back. Find out if your dealer charges a fee to do so. Each dealer is different and will handle buybacks differently.
U.S. Money Reserve Can Help
U.S. Money Reserve is one of the largest and most respected distributors of U.S. government-issued coins in the United States. When you buy from them you can buy with the confidence of knowing you are getting access to some of the best coins on the market.
If you have any questions about investing in gold or any other precious metals, give U.S. Money Reserve a call at 1-866-MINT-GOLD. You can also visit them online at www.USmoneyreserve.com and request a free gold information kit.