5 Tips for Investing In Gold Bars
Those who invest in gold coins will no doubt know about gold bars. The main reason some choose to buy gold bars instead is that it is less bulky. They also tend to be less pricey than the gold coins. Everything typically remains the same.
Here are 5 Ways to Invest in Gold Bars More Fruitfully
1) Stick with the North American bars. Bars like Canadian Maple Leaf and American Eagle are your better options. These are going to be easier to buy and sell later on. The gold content is between 22-24 karat U.S. Mint.
2) Every buyer needs to compare and contrast the prices before they buy. Do not just take the first seller who comes along with an offer. There is always going to be someone who offers a better deal. Buyers need to make sure the seller is not trying to gauge them on a gold bar offer. Gold bars are a rare commodity. There are many people interested in buying them up, especially in today’s economy.
See if you can talk the person into a deal. You will get some sellers of gold bars who do not waiver on their items. Their asking price remains the same. Get a feeling for the seller first. Once your instincts kick in, you will know what to do. Here’s a good rule of thumb to follow. You should never pay more than 5% premium on your gold or gold bars.
3) Buyers should avoid getting into the rare gold bars. Some of you may have a professional to look them over. This is okay. Those of you who do not have a professional in your back pocket, you should avoid the rare ones.
4) Find out the buyback policy from the person before you buy your gold bars. Some dealers will have a good buyback policy. Some will not. You do not want to get stuck in bad situation. Once a deal is done, it is done. This does not work out well for those of you who bought a fake gold bar. Make sure the dealer is on the up-and-up before you invest the money.
5) There are scams going around with gold bars. I suggest doing your own research before you buy something. You need to know what a real gold bar looks like versus a fake one. Some dealers will try to pass off a fake one as a real one. These are the ones you want to avoid.
Some dealers will try to pressure you into buying. Do not allow yourself to be pressured in any way. 9 times out of ten, these people are selling knockoffs of real gold bars. Know what real gold bars are, how much they are worth and what you should be paying before you buy.