Investment checklist tools may greatly benefits those purchasing gold bars and coins. But, not always can you find the right information you need. So, here we share the five checklist points when purchasing gold bars and bullion –
- Meets the intention of your purchase
- Meets your Investment Goals
- Meets Investment-Quality and is acceptable internationally
- You have the storage plan mapped down.
- You are buying it from the right Source.
The Intention of Your Purchase
Some buys gold bars as a form of investment. On the other hand, some buy it for consumption like thoughtful gold bar gifts.
If you are buying it for consumption, you can do well with a 22K gold. But from an investment perspective, you must focus on the gold content and purity rather than features as attractive designs and lustrousness.
Meets The Standard Investment Quality
Long-term gold investors follow one trading strategy: to take advantage of the location and bank rates globally. The gold bar must maintain the International Good Delivery Standard so that it is acceptable internationally. And to be accepted globally, you must pay attention to its quality.
What is an investment-quality gold bar? – It must have the precise gold content in it to maintain quality status. In short, the minimum purity for an investment-quality bar must at least be 99.5% gold. [Source]
Good Value for The Money
When purchasing bullions, gold bars, and even coins – it is important to feel satisfied with the money that you pay for it.
Several factors play a role. But three influencing factors affect the buying satisfaction both from the investor’s or a consumer’s perspective.
- The storage cost: The gold bar’s storage cost influences both a consumer or an investor’s satisfaction with the purchase variously.
- The premiums: Gold Bar Manufacturers sell the bar at a premium price. This premium price depends on the time of the sale and the size of it. The Larger the size of it, the less premium you have to pay for it.
- The size of the bar: For small or novice investors, smaller size of gold bars such as that 10 ounces or even 1-kilo bars may be favorable, although it comes with the premium amount. On the other hand, long-term investors prefer buying larger-sized bars or, in bulk, so to speak.
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Having The Right Storage Plan
Investors often get stuck in choosing the right storage facility. On the other hand, small-scale gold bar buyers struggle in finding an emotionally satisfying way to own and store the gold bar.
Should you keep it yourself or buy a voltage facility?- You must weigh your options carefully and have the right storage plan before purchasing.
Buying It From The Right Source
For the first time, several central banks of Turkey, Russia, and Uzbekistan are selling gold virtually [Source]. At a time like the recent economic crisis, consumers are cashing in gold bars and coins at high prices. Domestic sources are taking the greatest advantage of it.
So what can we learn from this?- As an investor purchasing gold bars, you must focus on where you are buying and choose the time wisely. Purchasing gold bars from the central bank is perhaps the best option in terms of authenticity, quality, and value for your money.
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