Buy Gold Bullion | At MoneyNews: Selecting a <b>Gold Bullion</b> Retailer : Edmund C. Moy | News2Gold |
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- A Guide To <b>Buying Gold Bullion</b> Bars In The UK | Buy Gold
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| At MoneyNews: Selecting a <b>Gold Bullion</b> Retailer : Edmund C. Moy Posted: 09 May 2014 09:36 AM PDT  With more than 4,000 dealers and other retailers selling gold bullion, how do you select which one is right for you? As director of the U.S. Mint, I saw firsthand the incredible growth of this market segment. The Mint produced new supply to supplement the existing market, and sales grew from 198,000 ounces in 2007 to 1.435 million ounces in 2009. Thousands of new companies entered the market during this boom period. An investor cannot buy a gold bullion coin directly from the U.S. Mint. When the program was first set up in 1986, the gold bullion market was in its infancy in the United States, and Congress wanted to make sure there was a two-way market. It was possible for the Mint to sell them directly to consumers, but the Mint did not have the ability to buy them from owners who wanted to sell. As a result, the Mint sold the coins in bulk to Authorized Purchasers, who in turn sell them directly to dealers and other retailers, and direct to consumers. Authorized Purchasers are contractually committed to buy gold bullions from sellers at fair-market value. I use five criteria when I decide to buy gold bullion coins: reputation, experience, volume, selection and pricing. Look for a firm that has a reputation for being transparent, fair and honest. If they are not, complaints are usually a telltale sign. The Federal Trade Commission and your state's attorney general's office are government websites to start your research. The Better Business Bureau is an objective third-party reviewer that has a robust accreditation process for listing a company and compiles ratings and lists complaints. I prefer a business that is experienced. It takes a long time to build a reputation, but it can disappear in a moment. If they have thrived through a boom and bust, they will likely have the wisdom to handle the twists and turns of this current market. Look closely at the management team, because many times the reputation lies with the individual and not the firm. A long history of repeat clients is a good sign. What is the sales volume of the dealer you are considering buying from? It is easier to maintain a good reputation if there are only a few transactions per year. But to move millions or even hundreds of millions of gold bullion a year requires excellent people, time-tested processes and outstanding customer service. Usually the greater the volume, the better the price. Product selection is also important. There are many popular gold bullion coins produced by quality mints around the world, and each bullion coin has its pros and cons. I have a bias toward gold bullion coins made by the U.S. Mint because of my confidence in their quality, my patriotic pride in their unique American designs and their popularity worldwide (which translates into liquidity). Pricing is where the rubber meets the road. The U.S. Mint sells gold bullion coins to Authorized Purchasers for the spot price of gold plus the cost of manufacturing (around 3 percent) the coin plus a 2 percent surcharge that gets put in a reserve fund to offset any potential losses (so that taxpayers never have to subsidize buyers of the coins). An Authorized purchaser then puts a mark-up on the coin when it is sold to a dealer or other retailer, who then adds a mark-up when they sell to an individual. Most pricing for a specific type of gold bullion coin will be competitive within a tight range. Occasionally, there might be a low-cost dealer, but you may have to make a commitment to buy a specific volume or they may not have the coin in stock and you will have to wait until gold prices match the price you bought at for the dealer to buy and deliver your coin. While higher pricing may not be best for most buyers, it does not necessarily mean that the dealer is trying to take advantage of the buyer. Sometimes it goes to pay for a higher level of customer service, premium shipping and expertise (which benefits first-time buyers). Other times it may be due to the dealer's inventory and what price it was purchased at. Coins in inventory means it can be delivered immediately. Most of the problems I have seen have to do with dealers who deliver your coins to a "secured facility" but not to you (gold IRAs being the exception). Those coins might not be the quality described or they may not exist. Beware of scam artists who significantly overprice their coins, use hard-sell tactics to intimidate you into buying or pass bullion coins off as rare coins (professionally graded coins being the exception). Some private mints and illegal mints have issued fake bullion coins with little or no precious metal content. If you apply the five criteria of reputation, experience, volume, selection and pricing, you will significantly reduce your risk when investing in gold bullion coins. Originally published at MoneyNews.com. Tags: Gold Categorised in: News  |
| A Guide To <b>Buying Gold Bullion</b> Bars In The UK | Buy Gold Posted: 27 Jun 2014 08:05 AM PDT  It has never been easier or cheaper to invest in gold, with a range of investment options available to gold buyers. The downside to variety is that making a choice can become a daunting process. You want to get the most from your investment and you certainly don't want to find out you could have made a better choice further down the line. One of the best ways to start your bullion collection is to invest in gold bars. The best form is physical gold as it retains value from its precious metal content. Unlike jewellery or numismatic coins, there is no artistic value in bullion gold – you're investing in the precious metal and the value of gold itself. Where to buy bullion bars There are professional bullion markets in key cities around the globe, like Zurich and New York – but London remains the world's main physical gold bullion marketplace. These days you can invest in any amount of gold – from a single gram to a collection of large bars. You can buy small bullion bars online with little fuss and search for the best price – which also allows you to build your collection gradually to suit you. For larger bars and the most competitive prices you might consider talking to your local marketplaces that deal with the buying and selling of physical gold bars. The trouble with this option is the bars are normally much larger and more expensive. Price isn't the only issue here though, because large bullion bars are more difficult to store and you can only sell them complete if you find a buyer willing to invest the gold you own. Buying gold bullion online The main benefit to buying gold bullion bars online is that you can invest in the precious metal without the hassle of buying large bullion bars. Smaller are easier to store because you can split your collection and store your gold in a number of places – a much safer way to store gold. With smaller bars you can rely on safe delivery and grow your gold collection at a pace that suits your budget. You can also sell individual bars as you choose and store you collection more safely – giving you better control over your gold investment. Storage option for bullion gold Smaller bars are easier to store, but you still need to think seriously about how you plan to keep your gold safe. You can store small bars in a safe or collection of safes in secret locations to protect your investment in privacy. Alternatively, you might prefer to take a more official approach and use bank safe deposit boxes, but you should know that any wealth deposited into a bank becomes the property and responsibility of the bank. You can get around this by storing your gold as an allocated deposit, however you have to pay for the privilege of keeping your own gold. Another option available is to store your gold in safe deposit boxes, which means you keep your gold without the bank fees. Just be sure that, before you decide which storage option you take, you get to know the "chain of integrity" and how storage options can affect the value of your gold. SubscribeSubscribe to our e-mail newsletter to receive updates. |
| <b>Buy Gold Bullion</b> - News 2 Gold - Blogger Posted: 02 Jul 2014 12:22 AM PDT I was going through some old boxes in the garage the other day, when lo and behold, I came across a time capsule full of childhood memories: old action figures, Garbage Pail Kids, comic books and, of course, a hoard of thousands of old baseball cards. I'd long since come to grips – like every child of the '80s and '90s – with the reality that my stash of Jose Canseco Rated Rookie cards was not, after all, going to put my kids through college. Heck, my own kids barely showed a passing curiosity toward them. Somewhere around the turn of the century, people lost interest in baseball cards, and once that happened, they were worthless, junk, just scraps of paper. Well, I guess this is a market where the bubble burst, I thought. At least I had a lot of fun memories to show for it. Funny thing – the fate of baseball cards is also what a lot of the naysayers are predicting will happen to Bitcoin one day, and "intrinsic value," or the lack thereof, is the centerpiece in that argument. I remember an article in a hobby magazine from the late 1980s, in which a card dealer marveled at the precarious success of his own profession:
His words are paraphrased through a 25-year lens, but the dealer's revelation about the baseball-card bubble was essentially the same as what people are claiming about Bitcoin today: Without tangible assets to back it up, an arbitrary value that we affix to something only remains for as long as people stay interested in it. That assertion is true whether we're talking about baseball cards, Cabbage Patch Kids, Bitcoins, or anything else whose worth is not attached to its practical value. What's interesting, though, is that detractors of baseball cards and Bitcoin both use precious metals as a counterpoint – gold and silver are examples of things that do makes sense as tokens of value, because they possess intrinsic worth. If the baseball-card dealer from the late'80s had listened to his own advice and put his money into precious metals, he could have earned 10 times his money in silver, or quadrupled it in gold, instead of ending up with nothing. But there's a more important question lurking here: WHY is gold a good store of value? As a metal, it has its niche purposes, but other metals like iron, copper and aluminum are far more useful. It's widely used as a decoration, but its appearance is simple to copy. When it comes down to it, the only reason why gold has any intrinsic value is that we all agree on it as a standard. That tells us two things about Bitcoin. First, it's not destined for failure, because gold, and for that matter, most national currencies, have already proven that something need not have "intrinsic" value in order to be valuable. The most important thing is that it's agreed upon. This is not to say that Bitcoin is necessarily destined for success either – baseball cards (among countless other examples) show us just how easy it is for tokens to lose their value when times change. The second important message that gold tells us is that, where permanently successful stores of value are concerned, inertia is a powerful force. The U.S. dollar has been used as such a value store for centuries; precious metals and gems have been around since the beginning of recorded history, and that's about it as far as truly standard tokens of value go in this country. Other alternatives have succeeded in spots, but if we're talking about the goal of becoming a long-term, universally accepted measure of worth, that's so far been a once-in-a-lifetime thing, if that. Not that it never happens: When Magellan set out on his famous circumnavigation of the globe, risking hundreds of lives, what was his practical motivation? Pepper and cloves, which used to be their own sort of "precious metals," but which you can find today at the local dollar store. It's not that things never change, it's just that it's a big deal when they do. So the question we should be asking is not, "Will Bitcoin fail because it has no inherent value?" – because inherent value isn't the point. A better question is: "What about the current situation favors it becoming agreed upon?" If I were to make a purchase today, what would make Bitcoin a more attractive form of payment than the U.S. dollar? The first answer typically given is privacy; since Bitcoin doesn't have your name on it, per se, it is more anonymous than other online payments. While true, this argument fails the test of creating a compelling reason for universal adoption, simply because for the great majority of transactions, anonymity doesn't matter. Sure, there is always a certain segment of the public that will go out of its way to stand up for privacy on principle, and another segment that may prefer to keep certain types of legal but somewhat dodgy transactions – for example, adult entertainment – a little more "private." But that's only ever going to be a relatively small percentage of transactions by a relatively small segment of the population. As for the rest: If I'm the average person and the FBI can find out that I bought a wheelbarrow or subscribe to Netflix, I probably don't care enough to use a virtual currency that I know little about, and about which I may have heard some nasty rumors concerning safety and black-market practices. In other words, for most of my purchases, the additional cost of using Bitcoins is the trouble it takes to obtain them, and the very real chance that the seller does not accept them; the benefit is anonymity that I don't need for an ordinary transaction. Maybe this changes over the next several years as online tracking and snooping become ever more pervasive, but for now, the regular dollar wins out there. The other major upside people see in Bitcoin is its potential as a sort of fluid border-free currency, and that's where the real promise lies in my mind. It would be nice not to worry about foreign exchange rates, extra fees and time spent, or in some cases, simply not being able to execute a foreign transaction at all. We've already seen steps taken to address this in areas where it was a problem (see: the European Union), so the proof-of-concept is there. Will there be a form of global currency some day? It's entirely possible. Will it be Bitcoin? It's too early to tell. The key, of course, will be the ability to easily exchange Bitcoins for real-world goods – a difference between real money and sort-of money that everyone involved with cryptocurrencies is well aware of. I personally mined a few thousand Dogecoins just for fun, knowing that for the time being, there was really nothing I could "buy" with them. With Bitcoin, that trend seems to be going in the right direction, but will it reach a critical mass? Who knows. A big retailer like eBay or Amazon could start accepting it (for a fee, of course) and change things overnight. Or, it could continue on its current course as a specialty form of payment – an occasional star, but a curiosity to most. And there's nothing wrong with that. A global currency just has to do its own job; it doesn't have to dominate all other forms of payment – a mistaken impression that a lot of people rooting both for and against Bitcoin seem to share. The idea of a world in which cryptocurrencies exist alongside the current system and make certain things easier is both pleasant and achievable. Talk of Bitcoin obsoleting the dollar and creating some chaotic, lawless new financial system just tends to alienate, or at least confuse, the average outsider. As it stands right now, Bitcoin is surviving, a notable achievement in itself. Because of the difficulties mentioned above, I don't think it's going to become a large-scale replacement for ordinary currency anytime soon, but then again, it doesn't need to. The door is wide open for it to fill a useful role in payments – and once we get past the boom-or-bust mentality that so many of us observers have, we'll start to get a real idea of what that role is. |
| <b>Gold Bullion Buying</b> and Investing 101 Basic Guideline When <b>...</b> Posted: 16 Apr 2014 10:07 AM PDT
If this will be your first time purchasing and investing on this precious metal, keep in mind the following basic guidelines on how to buy gold bullion. Learn about the Most Common Types of Gold Coins for Investment Purposes For many people, the easiest way to invest in gold is by purchasing coins. There are many different gold coins that are used either as investment means or for collection purposes, so make sure that you learn more about what they are best used for before spending money on them. Below is a list of some of the most common types of gold bullion coins regarded to be good investment assets.
Conduct a Research and Background Check on your Dealer Since you will be buying gold bullion from a dealer, it is essential that you know him/her well. It does not mean that you should know the dealer on a more personal level; what is important is that you can establish whether or not he/she is reputable. One of the best ways to check on the background of your dealer is to visit review sites and look for consumer forums. You should also check with various organizations involved in the gold coin industry. If these reputable orgs can vouch for the dealer, then it means that he/she can be trusted. If you wish to know more tips on how to buy gold bullion and other useful information, please visit this website now: www.focusontheuser.org/buy-gold-bullion/. |
In today's time and age, the number of people who have become interested in making investments in various assets continues to go up. Many of them opt for the paper-based investment vehicles, such as bonds and stocks. However, bonds and stocks, like all of the other paper-based investments, are easily affected by market factors, such as inflation. This is actually the main reason why a lot of financial experts consider gold bullion products being the safest asset to invest on. If you have become interested and you want to buy gold bullion, it is critical that you know what you are doing.| You are subscribed to email updates from Buy gold bullion - Google Blog Search To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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