As the value of the dollar falls steadily each year, more and more investors are looking to hard assets like gold as protection against further devaluation of their savings.
In truth, gold has always been one of the most trusted investments in America and across the world, and it’s only going to become even more valuable as time goes on. If you haven’t yet acquired some precious metals, now is the time to start planning your acquisition! Below are 5 reasons why you should invest in gold now to protect your future wealth.
What Is Gold?
As an investor, you're always looking for ways to grow and protect your wealth. And one of the best ways to do that is by diversifying your portfolio with tangible assets.
Gold is a perfect example of a tangible asset that can help you reach your financial goals. While it may be best known as something people buy as jewelry or art, gold also has many practical uses as well--for instance, it's frequently used in industry because it doesn't corrode or tarnish. That means that gold bars stay shiny and new even after they've been buried in the ground for decades.
As an investment, gold offers a degree of stability in uncertain times--it holds its value over time and during downturns. What Should I Consider Before Buying?: If you're considering investing in gold as part of your portfolio, there are a few things to keep in mind before making your purchase.
Why Would I Invest In Gold?
Gold is a tangible asset that you can hold in your hand. It has been used as a form of currency, jewelry, and decoration for centuries. Gold is rare, durable, and has a low correlation with other asset classes, making it a good addition to any portfolio. In contrast to paper currencies which are being printed by the trillions of central banks around the world, gold doesn't deteriorate when in circulation. The oldest gold coin found was minted over 2,500 years ago and today's coins will be able to be traded thousands of years from now.
For example, many people buried treasures during World War II hoping they would still have value if someone ever dug them up again. Gold also has been recognized throughout history as valuable not only because of its intrinsic worth but also because governments could not take it away or print more without it decreasing its value (supply-side inflation).
When paper money lost its value during hyperinflation in Germany and Zimbabwe, their respective citizens switched to using U.S. dollars or gold coins instead.
When it comes to buying and selling gold, there are a few things you need to keep in mind.
First, the spot price of gold is the current market price.
Second, you'll want to find a reputable dealer that you can trust.
Third, be sure to understand the different types of gold before making a purchase.
Fourth, remember that gold is a long-term investment, so don't expect to see immediate results.
Fifth, while this may not seem like an important point at first glance, always have your receipts on hand when you buy or sell gold.
Sixth, avoid scams by only dealing with established dealers who have been around for a while.
Seventh, make sure the dealer isn't just trying to get your jewelry off your hands for pennies on the dollar; they should be able to give you more than what it's worth if they're an honest businessperson.
Finally, eighth, never send any money through Western Union or wire transfer; those methods of payment are too risky. If you take these steps into consideration, then you'll have a much better experience buying and selling gold!
Where To Store Your Gold (And Tips On How To Keep It Safe)
There are a few schools of thought when it comes to storing gold. Some people believe that you should keep it in a safe deposit box at your bank. Others believe that you should keep it at home in a safe. And still, others believe that you should invest in a gold storage facility. No matter where you store your gold, the most important thing is to make sure that it is properly insured.
A reputable insurance company will insure all items in your safety deposit box and provide theft and fire coverage for any items kept in your home. For those who choose to invest in a gold storage facility, you can insure the holdings by purchasing precious metals insurance which covers up to $25 million worth of bullion (or coins). In addition, some of these facilities offer round-the-clock security with their own state-of-the-art vaulting systems.
These systems are controlled remotely so they cannot be compromised from the outside like some traditional vaults can be compromised from the inside. But beware! These gold storage facilities often charge significant fees - sometimes as high as 20% per year or more - for this protection service so this option may not be cost-effective for investors who don't plan on holding onto their assets for a long period of time.
How To Buy And Sell Gold?
Investing in gold can be a great way to diversify your portfolio and protect your wealth. But before you start buying, it's important to understand how gold is priced and how to buy and sell it. When investing in physical gold (not exchange-traded funds), there are two ways to go about it: purchasing coins or bars or having the metal stored at a secure facility.
Precious metals dealers will often give customers the option of storing their metals with them. If that's not an option for you, make sure that whoever stores your metal has insurance and audits conducted regularly. Otherwise, have it held by one of the top-rated precious metals vault providers such as Brinks or JPMorgan Chase Bank. Once you've made your purchase, store your gold somewhere safe like a safety deposit box, safe in your home, or with a trusted friend.
And lastly, if you plan on selling any precious metals holdings in the future, do so before making any purchases - otherwise, you'll have to pay taxes on both transactions.
Costs And Fees Of Working With A Company
When you're looking for a gold company to work with, it's important to keep in mind the costs and fees associated with doing business. Otherwise, you could end up paying more than you need to. For example, if you don't choose wisely when buying gold bullion coins, you could be charged high commissions or fees. The following are three popular ways to invest in gold bullion coins: bars, rounds, and coins.
Coins are generally not as expensive as bars or rounds because they have less weight (i.e., less metal) per coin than rounds or bars do. However, this isn't always the case; for instance, an American Eagle Coin can cost $30-$35 each depending on where you buy them from. Rounds and bars tend to cost about $10-15 each. Additionally, there is no distinction between different denominations of coins; however, rounds can come in one-ounce increments all the way up to ten ounces.
Bars also come in 1-ounce increments but also can come in fractional sizes that weigh 1⁄2 oz or 1⁄4 oz. Bars will usually be slightly cheaper than rounds of the same weight due to how bars are made. It is possible for both coins and bars to be made out of silver instead of gold, which would make them much cheaper.
To determine whether or not a company offers these options, ask what form their products come in so you know what you'll get. You should also find out how many dealers there are within your geographical area and see if any of them offer better prices. Finally, find out what guarantees the company offers so you know that your investment is safe2 Blog Series!
Discover More Here!
Join a world-class marketer for an inside look at how your friends are starting their own gold & silver businesses - just like Four Percent Family - and making up to $7,000 per week helping others do the same!
Be Protected - Here's how this free webinar will provide everything needed to start buying gold & silver from dealer-direct pricing at no minimums, no middleman, and no fees!
Grow Your Business - Learn how thousands of people are using this easy way to save their fiat currency in physical gold or silver every month on autopilot - even if they're on a budget!