Learn About Purchasing Gold and the Types of Gold to Buy
Gold has been the standard wealth has been measured by for centuries as the standard unit of commerce across the world. Regardless of language or cultural barriers, everyone understands the value of Gold. Gold is the most highly sought-after Precious Metal in the world and is a popular choice for investments. Investing in Gold involves decisions revolving around what best suits your investment portfolios and collections. To help with those initial decisions on purchasing Gold, here are a few questions to keep in mind.
How Much Should I Spend on Gold Bullion?
When researching the price of Gold, the current price is based on the Gold Spot Price. The spot price of Gold is the price a raw ounce of pure Gold can be bought and sold in the Precious Metals marketplace. The Gold price changes throughout the day based on worldwide market conditions, supply and demand and other geopolitical factors. Investors need to be aware of the market conditions because it affects both the buying and selling of Gold.
When looking at Gold for sale, being aware of the current Gold spot price is important to develop any purchasing strategies. APMEX has live and historical Gold spot price charts so customers can see the most current price as well as learn about past trends in the market. Learning and understanding the Gold spot price chart and occasional trends will help a new investor make their purchasing decisions.
What Type of Gold Should I Purchase?
Common options when researching Gold for sale are coins, rounds and bars. Each options comes with its own benefits to better fit your personal investment strategies and portfolio.
Gold bullion coins have a denomination, or a face value, depending on the amount determined by the sovereign mint. Typically, Gold coins are more valuable when used as investments because their Gold content value is higher than their face value. Gold coins often have unique and detailed designs making them perfect for display as well as investments.
Often confused with coins due to their similar shape, rounds have just as high of Gold content with no denominational value. The value of Gold rounds is based solely on their pure Gold content, with that price being determined by the Gold spot price. Premium rates on rounds tend to be lower than Gold coins, depending on the size of the round, which should be kept in mind when deciding what Gold bullion products will better fit your budget or purchasing strategies.
Gold bullion bars are pressed into a rectangular shape, perfectly suited for stacking and storing. Bars are a popular choice among investors due to lower premiums, similar to rounds, which makes it much more affordable to buy Gold bars in bulk.
What Payment Methods Can Be Used to Buy Gold?
After deciding on your Gold bullion, you must decide which payment method you prefer. There are several options for payment methods, with the most common being Credit/Debit Cards, PayPal, Paper Checks and Bank Wires. Customers are encouraged to verify their dealer’s accepted payment options and any policies regarding these options as well.
Each payment method has its own advantages depending on which is best for you. If you prefer quicker payments and turnaround times, credit/debit cards or PayPal will be your best option. Payment options such as paper checks or bank wires have longer processing times and will result in a long time period between your purchase and receiving your product.
A comprehensive list of APMEX’s accepted payment methods includes:
- Credit/Debit Cards (excluding prepaid cards)
- Paper Check
- Bank Wire
- Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE) and 5 USD-Pegged Stablecoins (GUSD, USDC, PAX, DAI and BUSD).
How Should I Store My Gold Bullion?
After buying and receiving your Gold, now you have to decide how you will safely store your new Gold bullion. The two major priorities to keep in mind while deciding on storage is both safety and how often you are wanting to access your Gold. For most customers searching for storage options after buying Gold, their decisions revolve primarily around storing at home or at a third-party facility.
Home storage is a great option if your priority is easy accessibility and convenience. Storing your Gold at home comes with both its own advantages and disadvantages. You can store your Gold secretly around your home – this is the easiest and cheapest option with the quickest access. While secret storage may be the most convenient, it does leave your investments open to harm such as water damage, natural disasters or theft. A second prominent option is purchasing a safe for your home. Safes may be pricey, but it does provide more protection for your Gold than simply hiding it in your home.
APMEX offers products to customers who are interested in home storage to help further protect their Gold investments. We recommend anything from bar/coin storage boxes to safes for the most secure storage possible in your home.
Home storage may hold too many risks for some investors, leaving their investments too vulnerable. For those who would prefer to store their Gold in a separate location, third-party storage is the ideal choice. Third-party storage institutions have higher levels of security and provide the optimal storage environments to protect your Gold. While third-party storage does cost more than storing Gold at home, these facilities offer better protection for your investments.
One choice for third-party storage can be found with Citadel Global Depository Services, a subsidiary of APMEX. Citadel secures your Gold by protecting against theft, physical damage or loss of property. Along with the storage capabilities, Citadel provides your own web page detailing the items you have in storage.
Should I Buy My Gold Locally or Online?
Local coin shops developed from pawn shops to provide customers with a more specialized store for them to view their items in person before making a purchase. Online dealers are more recent a practice providing a virtual store to enable customers to shop from the comfort of their homes or on the go. Whether you buy from a local coin shop or from an online dealer, both options have various pros and cons specific to their venues that relate to your overall shopping experience. Depending on your priorities and time availabilities, one locale may work better for you than another.
Gold for Sale From a Coin Shop
Shopping Gold for sale at local coin shops brings the satisfaction of holding your new Gold product that same day, but it does include some disadvantages as well. Local coin shops are relegated to operate within their business hours and are limited to the selection they have on-site. Local coin shop selections are generally based on the size constraints of the store and the preferences of their usual customers, which tends to limit the Gold for sale.
Another issue to keep in mind while shopping at local coin shops is the authenticity of Gold content, price fairness and any product guarantees before and after purchasing. There is no way to be sure in a local coin shop of the Gold’s quality before leaving the store – often times with no option to return.
The Best Way to Buy Gold for Sale is Online
Purchasing Gold for sale online allows you to access numerous benefits not available with local coin shops. Arguably the most important benefit is the ease of access; online retailers’ websites are available 24 hours a day on any computer or mobile device. The convenience accompanying online access to Gold for sale means customers can shop at any time, regardless of the business hour or location limitations.
Online retailers also provide a larger selection of products while shopping for Gold bullion. Without space restrictions and small audience bases, online retailers can keep a wider variety of products to fit any customer’s needs. The extensive selections often result from working directly with private and sovereign mints to guarantee customers a certain quality and authenticity of the Gold product they are about to purchase.
Also at APMEX, we are committed to helping our customers get the most out of their investments. To aid customers, we offer the option to purchase Gold for sale in bulk quantities at discounted prices – which offers various benefits. Purchasing Gold for sale in bulks allows investors to take advantage of wholesale prices to maximize their buying power. APMEX offers free shipping on orders over a pre-determined amount viewable upon check-out as well.
Buying Gold Bullion Online With APMEX
Buy Gold for sale online with APMEX or over the phone with our customer service associates promises a safe delivery of high-quality products. If you experience any issues while placing your order on Gold bullion with APMEX, we are happy to help. Our team of highly trained customer service representatives can answer any questions by email or telephone. Our APMEX teamed can be reached at (800) 375-9006 or service@APMEX.com.
Expand your collection today and shop our assortment of Gold products.
Gold bullion makes for a great investment opportunity; for any questions regarding the eligibility of any specific Gold products in your investment portfolios, please consult your financial advisor.