I am often asked how to buy gold, and if buying gold online is a good move for the smart investor. In answer- there are many places you can buy gold, both online and in-person. However, gold-buying is fraught with pitfalls, for even a seasoned investor like myself and with the financial market in dire straights over the last decade, it pays to spend wisely.
By far the best place to buy gold bullion is Regal Assets, not only for new investors but also for those who are experienced with precious metals. I have turned to them time and again for many years- Regal Assets have earned my loyalty by outperforming the competition in several key areas. In recent years, an increasing volume of the buying and selling of precious metals- gold, silver, platinum, palladium, and others, has taken place online, as the internet is a truly global community that allows dealers to sell without regard to distance.
Lets look at the options you have when buying online:
Hobbyists buying gold online often turn to Ebay or Amazon, and are often shocked at how low the prices are for everything from gold coins to silver bars. The problem here lies with quality- pieces bought in this arena tend to be marketed specifically for the general public, and rarely appreciate significantly in value. You also run the risk of buying counterfeit gold and silver, or even stolen pieces- though this is rare, it is still a concern.
Your best choice is to turn to an independent dealer in precious metals. You’ll ideally be able to choose from a range of products, make a bulk investment and of course you’ll recieve proper documentation of your investment.
A quick google search will turn up various dealers- using Regal Assets as a comparison, here’s what you need to know about how to buy gold using an online gold trader.
TRUST – What are people saying about them? Any trusted online gold dealer will have a loyal following. Is your choice of dealer well-known? Do any respected names in finance endorse them? Do they simply sell gold, or are they knowledgeable and able to answer any questions you may have about your intended purchase? Regal Assets offer a free information package- as do several other gold sellers. It’s well worth requesting one of these if you haven’t already.
CHOICES – Can you buy coins? Is this the best place to buy gold bullion in different increments or are there other dealers offering a better selection? Can you buy proof coins? Ideally, you’ll want to spend your money with a company that demonstrates success in selling a diverse range of precious metal options. A one-trick pony should send up a mental red flag! Specializing in one or two items might work well in the short-term but a good gold investment company should have a range to suit every pocket and taste. Choices denote long-term gold investment success. Gold and silver bullion makes an attractive and sound intrinsic investment, whilst coins have added aesthetic value. I have seen coins bought from Regal Assets appreciate in value above and beyond the market price, simply because collectors are desperate to get their hands on them.
COMMUNICATION – Can I talk to a human? Can we keep this simple? Buying gold online should be simple, safe and straightforward. Good communication is key- look for knowledgeable customer service representatives. Don’t be afraid to ask questions. Is the site current? This is vital- an online dealer should demonstrate that they are up-to-date with gold prices, and prices of any other precious metal they sell. Politics and world events can affect your investment. Does the site demonstrate it’s understanding of financial markets beyond the domestic market? All good dealers should value communication; indeed Regal Assets offer LIVE, expert support 24/7.
It really is that simple- Trust, choose, communicate! That’s all you need to know about how to buy gold online safely and wisely. Next, I’ll take a look at the specifics of buying coins.