How to buy gold is one of the most important questions prospective buyers often have on their minds before investing their money. This article won’t be about how to find a gold broker, because a simple Google search will clear that right up for you.
This article will be about how to choose the correct company to buy gold iras from.
There are a number of companies out there willing to take your money in exchange for what they claim to be a great investment (whether it’s actual gold, gold shares, jewelry or anything in between).
It’s often difficult to choose where to buy gold when faced with an almost endless number of places to purchase it.
It’s always wise to do your home work first, do your due diligence and know what you are doing before you get put in a difficult position.
Finding Reputable Companies
Do your research and due diligence on the internet first, before you do anything else. Know the facts and don’t allow yourself to get “sold.” Trust is everything. Find someone you trust. With either large or small companies, trust is key. And remember, big does not necessarily mean trustworthy. We think Regals Assets is a reputable company.
Be Sure Before Buying
Learn what your gold broker specializes in. All brokers have specific kinds of precious metals they tend to specialize in. Numismatic coin brokers can often be very, very different from bullion dealers. Their knowledge level and prices can vary widely depending on their core business.
Don’t be shy about asking questions. Some dealers charge you a fee to use a credit card. Some require you to money order to them. Some require a bank wire to transfer funds. Many dealers make huge profits on the shipping cost they charge you. Be sure to fine out all of the facts before you agree.
Get Educated or Get Scammed
You should be very educated and knowledgeable in choosing numismatic coin brokers. Just because someone calls themselves a numismatic coin broker, doesn’t mean they qualify as experts. It’s always important to get the best price when you are buying, but don’t forget to ask what spreads they charge when you sell your gold.
Some dealers offer you low up-front prices and then charge you an arm and a leg when you are selling it back to them, ie: cashing out. Others have high up-front prices and then offer great values when you go to sell your gold. Ask, ask, ask…don’t assume.
Finally, you need to define safety for yourself. Why are you buying gold? If you are buying gold to turn a quick profit, then your definition of safety would be to buy gold that is likely to quickly increase in value. Everyone wants this to happen, but if it is your number one goal…it does suggest certain kinds of gold that you should consider investing in.
You really can buy gold safely when you know the facts and do your homework. This article just scratches the surface. If you’d like to learn more, be sure to stay tuned to our blog for more posts on this topic.