All throughout history people have always had a fascination with gold. The rich have surrounded themselves in it. The poor have yearned for it. Gold’s attraction, besides its appealing luster, has inevitably been its ability to maintain value even during the hardest economic times. Until recently, gold could only be bought in the form of coinage, jewelry, or from registered dealers. Times have changed. Today, anyone can purchase their own gold simply with a few clicks of the mouse if they so chose to. Let’s go over a few things to consider when purchasing gold.
First off, if you plan to invest in gold, plan ahead of time how much you intend to invest. If you don’t, it is easy to get carried away and over purchase gold online. This can sometimes leave you a little short in the pocket in short term situations. Once you have determined how much you plan to invest, then it is time to start doing your homework. It is important to realize the difference between bullion and numismatic gold. Bullion gold is often in the form of coins or bars and its value is approximately equal to the published spot price. Numismatic gold refers to rare coins whose value to collectors significantly exceeds the melt value of the metal. The coins can often be way more expensive then the value of the gold itself. Always make sure you understand what you are purchasing and never pay gold bullion prices for coins that have value lying in the rarity of the coin.
Your next step is to do your homework on the market price of gold. So far in 2011, gold prices are seeing a steady increase. There are many places on the internet that you can look up the current market value of gold per troy ounce. Familiarize yourself with gold trends (prices have rose steadily in the last 10 years) and determine if you still want to consider investing your predetermined amount. I would highly recommend using an established and reputable gold dealer if you chose to make this purchase online. Don’t use smaller websites that offer cheaper gold prices, unless you thoroughly research the dealer and make sure they are safe and guarantee your purchase. Pay particular close attention to the commodities for sale and their prices and the service agreement. Ask about insurance and shipping and handling fees and any applicable sales tax. These expenses generally are not included in the list price. Once you have done your research, simply follow the websites instruction to complete your online purchase and investment. If gold prices continue to rise as they have, you will be very happy with your gold investment in the future!