Where to Find Gold Bars – Guide for Beginners
“Where to find gold bars?” This is a common question asked by aspiring profit-makers who complicate the process of buying gold with their incomplete knowledge. The truth is: buying and selling gold is one of the simplest financial transactions in the world!
Here are some tips to increase your knowledge about trading in this precious metal. Hope this makes your gold-shopping experience pleasant and helps you become a good gold investor.
Know the Purpose
You must know why you want to buy gold. Is it just for the hobby of collecting vintage pieces? Or are you a serious investor who wishes to turn this metal into money when needed? Only when you’ve answered these questions can you ask – where to find gold bars?
Know How Much to Invest
According to an old adage, you must invest 10 percent of your money in this metal and make a wish that you never need it. Depending on your purchasing power, investing between 10 percent and 30 percent of your money is fine. Investing more than this on precious metal could be unwise.
Know the Right Dealer in Gold Bullions
Choose a reputable gold dealer. Almost everybody knows about the horror stories of how people get duped in the process of buying and selling gold. Always check with the Better Business Bureau (BBB) about the dealer’s credentials and business history.
BBB is a regulatory body that keeps track of businesses and their conduct. It can help you significantly in making the right choice of gold dealer. You can know the ranking of the gold firm, along with the number of complaints and how the firm dealt with them. It doesn’t matter if the firm ranks high. It can still have a record of consistent complaints, which can serve as a warning bell to you.
“Where to find gold bars” is a good question; but “where to find good gold bullions dealers” is a better one. Enter the “golden” market only when you’re sure.
Characteristics of a Good Gold Firm
• It’s in business for more than 10 or 15 years – the longer, the better.
• It answers your questions without hesitation or irritation.
• It keeps you informed about the gold market and other related details.
• It guides you genuinely in buying and selling gold so that you avoid mistakes or problems that usually occur because of ignorance or inexperience.
• It should have a sound business record at BBB.
It’s interesting to note that about 75 percent of the gold buyers in the physical gold market are safe-haven investors. Yet, because of their incomplete knowledge, they end up investing in leveraged gold position, ETF, or numismatic coins – investing in this is more like gambling with gold than making a safe investment.
The thrill of investing in gold lies in making the right moves. See that you don’t pay more than the real value while buying and don’t get less than the current value while selling. Also, before asking “where to find gold bars”; ask: “Do I really need gold bars or is it just a beautiful coin I wish to collect?”
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