Looking out for the right company when on route to investing any precious metal such as gold, is a significant aspect to consider before jumping in and buying anything, no matter how experienced you are in investing. It is a good idea to first do thorough research before signing up with any investment company and knowing the best company to deal with is a good starting point.
A little know-how on investing in gold is recommended and will help you make an accurate decision on where to put your money.
Investing in Physical Gold
For numerous decades, the precious metal, gold has been seen as a default household investment by many cultures and individuals. According to various professionals within this industry, the advice is to diversify your portfolio by adding this precious metal so the rate of return is higher than only putting your money in one place.
Two ways you can do this is by purchasing either digital gold or physical gold. To do this you should be looking at a few things:
The availability of gold in the markets
This is often echoed by the availability in Jewellery stores and merchants, including banks and financial institutions.
Maintenance and Tax
Storing gold is one thing, but giving it to a company that will help you invest it so you can acquire a rate of return is better. Opting for a safety deposit locker in a bank involves a few costs such as the rental of the space. Instead of having to dish out extra costs and not make anything back, placing it in the hands of a reputable company like Acre Gold may be a better option as they have the expertise to advise you on the best way forward.
When it comes to taxes, depending on the country you are located in, you may need to pay a certain percentage of GST or Goods and Services Tax. This is a value-added tax placed on typical items including precious metals and anything for domestic consumption such as consumer goods: https://www.investopedia.com/terms/g/gst.asp
The Cost
Of course, the price of gold at present will matter more than anything else. It may be true that with this commodity similarly to stocks and shares, that you should buy when the price is low. However, you would not sell it when the price increases, and instead keep it for as long as possible, even till the age of retirement.
The Credibility of The Gold and Company
When choosing the right company to buy your gold from, credibility comes first, as well as the purity of the metal. Companies such as Acre Gold have reviews on their website that you can check out, from customers who have invested with them, the Acre Gold review page can give you the information you are looking for and further information to help you decide on the right one to go for.
As one of the newest investment companies to look out for, this establishment provides an opportunity to lower-income investors to put their money into it. With businesses both in Boise as well as Santa Monica, they appeal to those looking for a safe and straightforward means of capitalizing on future gold purchases.
This is especially beneficial for those seeking to invest in precious metals such as Gold when it hits the threshold of 2.5 grams.
Coins Versus Bars
There are two options to choose from when purchasing the asset – Gold coins or bullion bars. The bottom line is that gold, in any format, is still gold. Gold bars are formed of pure gold and refined to create bars of certain weight and purity, these two aspects will create its value.
Coins are also similar to these but generally have an extra premium to them, because they can be used as “legal tender” i.e. you can use it to purchase something else or pay off a debt, as a means of currency.
If you’re not sure which one to buy, the simplest answer is, you can buy the bars if you are not too sentimental about the personal value and want to keep the premium minimized. Coins do contain almost the same amount of gold as the bars. However, if you want to buy a significant amount then the bars will offer you a better ROI (Return of Investment) because they are available in large sizes and one can purchase them in bulk.
If however, you are a first-time investor, the coins may be a better option. Also, an additional reason is that with coins, certain types don’t get taxed, for example, a Gold Britannia for instance.
To save yourself the trouble of decision making, let the experts do it for you. Companies such as Acre gold, which are designed by tech entrepreneurs, have created a means by which to make buying gold easy for the masses, and one great way is by their subscription service. If you are looking for something different then this may be the best option for you.
