Buying gold bars is a great way to invest for the future or for the times that you will be in need of extra cash. But, there are many things about buying gold that you should aware of. It can be a hard decision if you should buy gold or not. Here are some important things that you should know before you decide to buy gold.
The purity, weight, and price of gold
Before you are buying gold bars or gold coins, you should be aware that there are different kinds of gold that you can buy. There are different purities of gold. There is 100% pure gold and then there is gold that has been mixed with other materials. If you are wanting to buy pure gold, you need to make sure that the gold you are looking to buy is really gold and the price of the gold is in line with the type of gold.
There are some people that sell gold by telling you that it is pure gold. You pay the price of pure gold, but in the end you realize that it wasn’t real gold to start with. You need to know everything about gold, the purity the weight and the price of gold. This is so that no one can scam you in buying something that is not even pure gold. Read more stories about gold.
Locating a trusted and experienced seller
Don’t ever, ever buy gold from someone you don’t know, or from someone that is not known in the gold world. To be sure that you are buying real gold, or buying stolen gold, you need to do your homework before you buy gold bars from anyone.
If you are searching for a seller online and you find no information about him, stay away. You can also ask other people in the gold world if this person is well known. They will tell you very quickly if he is reliable or not. Also, trust your instincts. Don’t buy any gold from someone that your instincts believe is a thief. Most of the times your gut feeling is right.
Storing your gold
Another thing that you should be aware of if you are going to buy gold bars is where you are going to store your gold. You can’t just put your gold in the closet underneath your clothes, or worse, under your bed in a shoebox. See latest from http://www.fool.ca/2015/05/13/is-barrick-gold-corp-or-goldcorp-inc-a-better-bet-today/
It is very important to have your gold store in a safe place like a bank. Not any bank, but a bank that has storage space that will be protected and where you can insure your storage. This is the only way of making sure that your gold stays safe.
There are many things that you should know before you can start buying gold as investments. Buying gold isn’t just about finding gold and buying it. You need to be very careful where you buy gold bars or gold coins and where you are going to store your gold.