There’s an old Chinese proverb, “The best time to plant a tree was 20 years ago. The second best time is now.” The message has less to do with agriculture and more to do with the fact that it’s never too late to achieve great things, so long as you stop second-guessing yourself and take action. This is especially true when it comes to investing in gold. If you’ve been dreaming about diversifying your investment portfolio with gold bullion bars and coins, these tips will give you the confidence to buy your first ounce of gold and continue on as a savvy gold investor.
Buy Gold When You Need It
First and foremost, it’s important to understand that you can’t approach gold the same way you would approach stock or real estate investments. The goal of precious metal investing is to provide long-term wealth insurance, not to make quick gains on the market as gold prices go up and down. That being said, the best time to buy gold is when you need it, not when the market dictates you should buy gold.
Stick With One-Ounce Bullion Coins
This is not a hard and fast rule, but rather a recommendation to help you maximize the profitability of your investments. Although gold bullion coins are issued in four denominations (one-ounce, half-ounce, one-quarter ounce, and one-tenth ounce), fractional coins carry higher premiums above spot prices than one-ounce gold coins. And while we’re on the subject of gold coins, avoid rare gold coins at first since the value (and cost) of numismatic coins is determined by additional factors other than precious metal content.
GoldDealer.com can help you get started as a gold investor right now. In addition to our great national pricing on gold bullion coins and bars, our website is also full of resources such as investment guides, gold analyst articles, and gold prospectuses. Visit our website to browse our gold coins and bars for sale, or call us at (800) 225-7531 to speak directly with one of our gold dealers.