Things to Know Before You Add Gold Bars and Gold Coins to Your Portfolio

gold coin prices

As the investment options are increasing with time, people get confused about which investment option is the right one for them. This confusion often leads to abandoning the new investment options and turning to tried and tested investment options. One such option is gold bullion that includes gold coins and bars that are provided by the top mints and refineries in the world. However, before you check gold bar or gold coin prices, you need to remember a few important things mentioned below.

Gold Bars are Cheaper

When compared to gold coins, gold bars are a much cheaper option. This is because gold bars can be produced in large quantities and have smaller premiums as compared to gold coins. Investors who want more value for money products and are focused on adding more ounces of gold to their portfolio should consider gold bars over coins. Of course, you can also choose both.

Purity is Important

If you are planning to buy gold bars or coins, pick the options that have .9995 purity or more than that. It is categorized as investment-grade gold. You can buy gold products that a 999.9 percent pure within the IRA account also. Talk to your tax professional for expert advice on that. Also, talk about how buying gold can help you get some tax exemptions if you are in the US.

Weights Differ

When looking for gold coins and bars, you will come across products with different weights. You can pick gold bars that weigh 1 gram, 2.5 grams, 5 grams, 10 grams, 20 grams, or even 1 kilo. The maximum weight available is 400 ounces of gold bar.

Storage Needs to Be Considered

Storage is important when it comes to preserving gold assets. If you are buying several gold assets, you would be smart to store them elsewhere. Do not store it at your home or office as it might be equivalent to risking theft. Also, make sure that you keep the packaging intact so that the gold products don’t become vulnerable to dirt, dust, pollution, or even fingerprint marks.

Look for An Assay Card

If you are buying gold for the first time, you need to remember to look for an assay card also. It will not just be a protective covering around the gold assets, it will also be a proof of certificate for the gold products. In addition, this assay card will come in handy if you want to sell gold in the future to earn a profit from your investment.

Check the Markings

It would help if you also read about the gold products you are going to purchase and familiarize yourself with the markings of the gold product you have shortlisted. Then, compare the markings with the product description to see that you are not being duped or conned.

Choose the Right Seller

Lastly, it would help if you chose to buy gold products from the right seller. Sellers like The New York Gold Company not only provide you with a variety of products, but they also let you check gold coin prices or gold bar prices in New York on the website. With three decades of experience and an A+ rating from the Better Business Bureau. The New York Gold Company is a gold dealer you can trust. Call now!

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