Various Ways to Buy Gold
For generations, gold is seen as the best way of investment, it is also known as the symbol of wealth. People buy gold jewelry, gold bars and coins for personal use, investment and also for gifting. Even today gold is considered the safest haven by the investors and it is considered as the best asset to add in your portfolio. Gold works well with the new virtual currencies and experts advice to add both the gold and one of these virtual currencies to balance your holdings. Gold transactions are the easiest one always, but with new trading robots like Crypto Code, it has become easy to trade the digital currencies as well. Continue reading about it here. These are the various ways one can buy gold either for personal use or as an investment.
1) Coins: The newly minted gold coins are usually 90-99% gold. These coins are minted by legally approved institutions and its purity is usually guaranteed by the governments. Investors can buy these coins in various shapes and sizes according to their needs. There are many well-known coins in the market such as the South African Krugerrand, Canadian Maple Leaf, and American Eagle. People buy these coins as collectibles, gifts or even as an investment.
2) Bullion or Bars: Many people think Bullion is a large gold bar, but bullion actually is a fineness and stamped weight of gold. Bullion can be in any form, bar, coin or any shape that can be traded. These bars also come in various weights. Large investors often choose to buy heavy bars as they can keep them in secured facilities easily.
3) Exchange traded funds and gold stocks: The biggest advantage of owning a gold stock or exchange-traded fund is that you don’t have to worry about storing the gold. The ETF’s do that for you and you can earn some dividend without handling the gold.
4) Jewelry: It is the most ancient form of using gold. For generations, people have used gold ornaments for wearing. These ornaments are often mixed with other precious metals like copper and silver in order to mold them in various shapes and sizes. Often precious gems and stones are added to these ornaments to make them look valuable and beautiful. These ornaments are even passed from one generation to other as an heirloom adding a sentimental value to it. Jewelry is not the best option for investment as the gold is often mixed with other metals to achieve the desired shape and also the meltdown value may not be equal to the price you bought it, still, it can be helpful to have some gold in this form too.