Buying Gold Bars for the First Time? Here’s What You Need to Know

How to Choose the Right Gold Bars for You

• Select the Right Size

  Gold bars can be as thin as one gram and as hefty as 400 ounces. The thinnest ones are called gold
  wafers while the heaviest are usually ideal for central banks, ETFs and exchanges. Usually, the cost of
  producing a heavier bar would be less than the thinnest one. But that doesn’t mean you should buy
  gold bars worth a few hundred ounces. In fact, you should buy smaller bars so that you can sell them
  off in batches and not all at once. Also, finding buyers of small bars is easier than finding buyers of
  heavy ones. Smaller bars also don’t need assays and have a lower risk of counterfeiting.

• Assure Quality

  When you want to purchase a gold bar for investment purpose, you don’t want to end up buying a
  fake bar that cannot be sold when there is an emergency. So, you should look for stamping and
  hallmark to ensure that the gold bar you are buying is worth it. If a seller is not offering gold bars
  with a recognized hallmark or proper stamping, it means that they are trying to deceive you by
  selling a fake or low-quality gold bar. Always buy from a seller who sells gold bars that have purity,
  weight, refiner and a registration number stamped to ensure you are not cheated.

• Ask the Right Questions

  In case you have decided to buy gold bars from a reputed provider, make sure that you ask them
  about their products, the processes they use to manufacture or acquire the bars and the reselling
  options you will have. If possible, read reviews of previous buyers or talk to them directly to know
  that you are getting quality products.
  You should also know that the reputation of the hallmark also matters a lot. If the brand of the manufacturer or refiner is well-recognized, you will be able to sell it with ease any time in the future.

Final Words

All in all, it can be said that if you are buying gold bars for the first time, you should remember these criteria to ensure that you don’t get ripped off. As an alternative, you can also trust the NY Gold Company to buy the purest gold bars quickly and at the right prices.