Today, as it has throughout history, gold fascinates investors and enthusiasts for its beauty, cultural significance and rarity (only 161,000 tons of gold have been mined in all of history — less than the capacity of two Olympic-sized swimming pools). Investors often turn to gold as a “safe haven asset” that provides a potential hedge against inflation and has intrinsic value. Once you have made the important decision to diversify your portfolio with gold, you must decide where to acquire gold. Here are some factors to consider:
1. Reputable Company
Be sure you can rely upon the company you work with. When conducting your company research, consider the following questions: How long has the company been in business? What are their annual sales? How are they rated by consumer groups like the Better Business Bureau and Trustpilot? Do they provide their policies in writing? Get the answers to these questions and be confident in a company before you purchase from them.
2. Broad Coin Selection
There are many types of gold coins and bars available, from rare or historic to modern, and even exclusive products. Different products may offer different features and benefits. You want to work with a company that offers a wide variety of products and can assist you in understanding them to make an informed decision.
3. Acquisition Options
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When you acquire physical gold, it can be shipped directly to you. Another option is to acquire precious metals as part of your retirement planning. Certain bullion and proof coins, along with certain precious metal bars, may be held in an Individual Retirement Account (see article below on precious metals IRAs).
Just as important as making the choice to invest in gold is ensuring you acquire your gold from the right company. Follow these key considerations and join savvy investors who have long recognized gold as an important part of a diversified portfolio.
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