Did you know that ancient Egyptians mined over 7 tons of gold?
Gold continues to be the most valuable substance on earth, especially for its use in electronics. As such, investing in gold continues to be an excellent way to keep appreciating wealth. One of the best ways to collect gold is by investing in gold bars.
Why invest in gold bars? When you invest in gold bars or bullion, you have an inflation-proof physical asset that retains its value no matter what economic uncertainty.
Keep reading as we teach you how to invest in gold bars for the beginner.
Find a Reputable Dealer When Investing in Gold Bars
Investing in gold is not like investing in real estate or stocks. You will need to step out of these traditional investor circles and deal directly with gold suppliers. Since you are purchasing by the bar, you can expect to pay a considerable upfront cost.
Unfortunately, there are many scammers in this industry. These are companies that will claim to sell you gold and hold it for you. But when you attempt to claim your gold, they may use legal loopholes to avoid giving it to you.
Further, you may run into companies that sell fake gold. You should learn how to test your gold every time to avoid this.
Speak to experts and do your research. Finding a reputable gold seller is well worth taking the extra time to get their bona fides.
Get Insurance Options
A lot can happen between when your package is shipped and when it arrives. A package containing gold is something that every thief desires to steal.
Just in the past year, about 49 million Americans have reported losing at least one package, many worth far less than a gold bar.
Make sure only to deal with companies that insure your gold in transit. This way, you have protection in case anything goes wrong. Otherwise, you would have to foot the bill if your gold never arrives.
Take Extra Care When Storing Your Gold
You need a rock-solid method for storing your gold in the long term. This needs to be a solution that will survive pandemics, political upheavals, and even apocalypse. Your bank’s local security deposit box may not be enough.
Some businesses specialize in storing gold under high security. Or, you can invest in a big safe with the latest security features. Either way, you need to think carefully about how you’re going to store your gold for the long term.
Buy Gold Bullion With Only Gold
Investing in gold bars is a foolproof solution for surviving the ups and downs of economic turmoil. Gold is the one thing that never loses its value, especially in its refined form as bullion. Be careful who you buy gold from, make sure to ensure it, and store it with care.
Looking for the best gold bar to invest in? Only Gold can help. Start with our 1-ounce bars, and then make your way up from there.