First of all, do you have gold around the house that you want to turn in for cash? When it comes to this question, it goes without saying that you want to buy from the most trusted sources only. These are relatively easy to find, and typically have a strong online presence and the backing of a lot of positive reviews and credibility. In this regard, it is very important to do your own due diligence prior to buying to make sure that the dealer you are using is completely legitimate. The very first thing you need to be extremely clear on is the current spot price of gold, and avoid any dealers who seem either too good to be true, or have added huge premiums to the current spot price.
Are there some reasons to be afraid? Yes. That’s been driving the gold market for the last 10 years. Gold has done very well during that time. But it hasn’t done very well because gold has intrinsic value. It’s done very well because people are afraid.
Gold coins with historical value are not only based on their weight, carat, and market. The year that they were formed, their rarity, and the number of pieces left are taken into account. There are many reasons to buy gold coins. However, if you are a collector, you will certainly not sell any of them. On the other hand, if you are a trader, then you would do your best to know when the best time to sell gold coins is.
Precious metals have earned respect as a form of money for more than 5,000 years. You might see people in India and other countries wearing gold a lot in publicâ€”and that’s more than just a fashion statement. Traditionally, many cultures store value in gold and silver as an ancient and enduring asset.
5. ETF’s – GLD is a exchange traded fund. Essentially, GLD is traded like a mutual fund on the market. You don’t actually own the gold, but you have exposure to the price of gold similar to a derivative. This could be a good route if you aren’t looking to own the physical bullion.