In case you are buying gold directly, then make sure that you do your homework properly so that you can cut the best deal with your dealer.
Follow these tips if you want to buy gold.
- Shop around for getting good price
Try to visit a number of offline and online shops and decide to buy who will offer you the best price. Usually, online dealers can be one of the best sources from where you can get gold at a good rate.
- Check their policies
Usually, gold dealers are quite trustworthy to buy or sell gold, but still as a buyer you need to be alert. Particularly, if you have bought gold from certain dealer then if you decide to sell then go to the same dealer.
Few gold dealers may charge a premium amount for gold buyback while many may not and you must therefore clarify this before you sell your gold. By paying premium you can sell your gold to any dealer.
- Check with mint
Visit the U.S. Mint who will be great resource and credible gold dealers to consider. You can also check the web page of dealer of U.S. Mint gold.
- Warning signs
Try to avoid purchasing gold from the following sources:
- Pawn shops
- Few dealers online who offer huge discount
- TV hucksters who also promise lowest price
- Dealer who will charge certain price for storing gold.
How to purchase gold in the form of investment?
If you are concerned with the risks associated for either getting scammed or end up dealing with any unscrupulous gold dealer who may ask for a price to even store your gold then you can choose certain other forms of investment in gold.
There are few other avenues available for investing in gold.
- Gold stocks
There are gold stocks or shares available from certain reputed companies from where you may buy shares of stocks.
Here you can avoid paying any premium that you may end up paying if you had purchased gold directly from a dealer. The share value can also easily rise over a period of time.
- Gold mutual funds
Nowadays even mutual funds are also coming up with their new funds who are buying gold shares from a number of companies especially that are exchange-traded funds and exchange-traded notes.
This can be much safer and productive way to get involved with gold investment. Fees for such investments are quite low and plenty of liquidity is available with gold funds, hence you may easily sell your mutual fund whenever you want.