Why should the prudent investor buy gold bars? Where should highly refined gold bars be bought? How does one safely and reasonably store gold bars after purchase?
Why Buy Gold Bars?
Gold has a variable, but continuous value that cannot be matched by any other comparable, physical object. Gold bars can be bought and the price may go up or down, but will always be worth something. Its value is easily determined by common market variables and the weight of the gold. For relatively large amounts of gold the unit of measure is Troy ounces. A Troy ounce is 31.1034768 grams or one twelfth of a pound.
Other types of mineral wealth like oil or energy, cannot be stored or easily traded or sold as gold can be. Even if you are still a novice investor, you may want to buy gold bars as a way to diversify your metals investments. Many investors feel having cash on hand is a great way to keep a portion of your liquid wealth. Having gold bars on hand is not the same as cash, but the high demand for this most coveted metal makes it easy to convert to cash with any dealer.
Gold coins are common, but the markup for this is substantial and insurance premiums are higher. It can be more costly to store in a bank vault, and the premium you pay for the processed coins may not give them any additional value when it comes time for you to sell them. This is why you should buy gold bars as an alternative. They can be verified as pure gold just as easily, store much more efficiently and can be sold just as they are, with less haggling over numismatic value.
Where to Buy Gold Bars?
There are any ways to buy gold bars, but the easiest way if you are just starting is to find a reputable mint or dealer online and ask to speak with a dealer or talk to a investment broker. Online dealers have relatively low service or broker fees and most have several options for you. Kilo and one oz. sizes are very popular ways to directly invest in gold bars. To ensure weight and quality, your gold bars will be assayed, or checked by examining a small sample.
What to do with your Gold Bars?
A bank vault is strongly recommended for your gold as the bank can offer security and much cheaper insurance rate than you could get by yourself. If you feel you must keep your gold bars within reach at all times in your home or office invest equally in a top quality safe. Get insurance for the gold bars no matter where you store them. Tell only those who need to know about your gold reserves.