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How Can I Buy Gold—Five Practical Tips

By Gary Ledger Subscribe to RSS | February 24th 2012 | Views:

If you’re pestered with the question, how can I buy gold, you’ve come to the right place. Reading this will help you in making a wise choice in a gold investment and getting fair deal with your money.

Remember . . .

• Common gold bullion coins like the South African Krugerrand and American Gold Eagle sell for their base gold value (approximately).

• Rare gold coins or numismatic coins sell at more than the market value of gold or at a premium price. Sometimes, this price can be very high. But, you must be familiar with evaluation and grading of rare coins. Beginners should stay away from rare coins.

• The standard gold coin weight is one troy ounce. If you buy gold bullion weighing less than this standard value, you may find it difficult to trade. Also, you may have to pay a higher premium when buying and may not get the desired profit while selling.

Five Tips on How Can I Buy Gold

• Before buying gold, determine a safe place to store it. You can choose the safe in your house or a deposit box in a bank or maybe a safekeeping program provided by certain dealers. If you plan to sell your gold soon, it’s good to keep it handy.

• Avoid jumping at the first gold offer. Research and compare. Learn about reputable gold dealers online that promise you a fair deal. Certain websites even buy the gold back.

• Want to buy from the U.S. government? You can do this online. The advantage is that coins from the government come with reliability in gold content, purity, and weight. If you plan to buy from private dealers, make sure they have been in this business for a long time.

• Update yourself with the market value of gold. Buy gold when the price is right.

• Update yourself with the dollar value too. An inverse relationship exists between the value of gold and the value of a dollar.

In short, you must be aware of what’s happening in the market and what’s in demand to become a smart gold shopper.

Sell Gold

Sell your gold when the price is high. You need to act fast because, once the market value plummets, chances are slim for you to make a profit. If somehow you miss selling at this time, be patient and wait for the right time. Gold transactions are not done in haste. You may want to listen to your intuition, but avoid impulsive decisions. It’s simple: Buy when the price is low, and sell when the price is high.

Whether you’re buying or selling gold, know the market and then make the move. We hope this page answers your question of how can I buy gold.

Gary Ledger - About Author: deals in buying gold bullion coins, buying gold bars and others. If you wish to sell your gold at the current market value and in full, visit the site for more details.

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