How to Buy Gold Bars

IMG Auteur
From the Archives : Originally published July 20th, 2012
560 words - Reading time : 1 - 2 minutes
( 4 votes, 4.8/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Gold University

 

 

 

 

There are a few factors to consider when researching and understanding how to buy gold bars.





Before you start buying gold bars, you should consider:

1. Different sizes of gold bars.

2. Where to buy gold bars.

3. The ease of liquidity and hallmark recognition.


I.                  Different Sizes of Gold Bars


Gold bars come in different sizes or weights. They are sold as small as per gram, per ounce, per kilo, or even per 400 oz gold bar.

Determining which size gold bar to buy depends on various factors like your budget, your premium and per ounce targets, your liquidity objectives, bar hallmark brand recognition, etc.

Generally speaking the bigger the gold bar, the less premium you will have to pay per ounce of gold. This is due to the fact that it is less costly and labor intensive to produce a large gold kilo bar per ounce compared to a small 1 oz gold bar.

Another general rule to keep in mind when buying gold bars is that the larger the gold bar, the smaller the pool of potential buyers or investors who can afford it. In other words, not many people in this world can buy a 400 oz gold bar while many more people can afford for instance a 10 oz gold bar.


II.               Where to Buy Gold Bars


Gold bars can be bought in numerous ways, including but not limited to buying on online auction websites like eBay or through bullion dealerships like our very own GoldSilver.com. Some investors buy gold bars locally at coin shops, while in some countries investors can even buy physical gold bullion bars directly from banks.

Almost every gold retail outlet has more than one payment option: bank wire transfer, credit card, cash, postal money orders, checks, and PayPal are all but a few payment methods being used within the gold industry.

Always consider any differentiators that some gold dealers may have over others. The gold dealer with the lowest price doesn’t necessarily mean it is the best choice.


III.           The Ease of Liquidity and Hallmark Recognition


Liquidity is an important factor with any investment and when dealing with gold bars, being able to liquidate a position in gold should be quick and easy to do.

As a gold investor, you will want to acquire gold bars minted from trusted, established, well-known suppliers. If you buy highly recognized hallmarks ( gold bar brands ) like those offered through GoldSilver.com, you will be able to easily sell your gold bars virtually anywhere in the world at a fair price.

Do not buy gold bars from suppliers that are not well known or established. Doing so invites the risk of not being able to sell your gold bar at a fair price or worse yet, receiving a counterfeit bar.




Don't Get Ripped Off


Investors should perform proper due diligence to understand all the costs involved when buying gold bars. Extraneous expenses can quickly add up. You will want to know if there are any hidden commissions, shipping costs, insurance fees, or extra charges for using credit cards, bank wire transfers, etc.

Regardless of the gold dealer you decide to use, make sure you verify a company's reputation and credibility through resources like RipOffReport.com and the Better Business Bureau. You only want to do business with trusted, reputable gold dealers with positive customer reviews.

 

 

<< Previous article
Rate : Average note :4.8 (4 votes)
>> Next article
Since 2005, Mike Maloney has been the precious metals investment advisor to Robert Kiyosaki, author of the most successful financial book in history, Rich Dad, Poor Dad. Mike founded GoldSilver.com, an online precious metals dealership featuring concierge services, physical delivery of gold and silver to customer doorsteps around the world, as well as providing international 3rd Party Vault Storage options for customers' precious metal holdings
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Another One Bites the Dust
23 NovDoom
Shallow it may be, but it's frickin' hilarious to laugh at all the hypocritical jerks who gave Trump ("I'm no angel") endless grief for his "when y...
Brexit, Gold and Harold Wilson's 'Pound in Your Pocket', 50 Years On
20 NovThemis
Good points, however Brexit is not entirely about the value of the pound or the cost of living. Many of those who voted in favour of leaving the U...
Another One Bites the Dust
20 NovThe Recusant0
Seems rather shallow to fault Franken for a tasteless comedic prank after electing the "grab them by the p*ssy" adulterer to the presidency.
Another One Bites the Dust
18 Novdennyc1
I happened to read one of Franken's book about all of the hypocrites in office, business,etc. his sanctimonious air notwithstanding I thought the g...
Brexit, Gold and Harold Wilson's 'Pound in Your Pocket', 50 Years On
18 Novkevthorne
A well informed article, giving the insight into what Brexit will really mean for the UK.
What Now?
14 NovThemis
Kunstler has a talent for summarizing complex situations in a pithy and entertaining way. The Middle East is being reduced to a drawn out proxy wa...
Spanking the Monkey
14 Novprljr
They wonder why Russia Today has such a big following. Real news is much more interesting than the MSM circus. Especially when you question more.
Spanking the Monkey
12 NovGypsy
James, I've been wondering about the Hollywood Spank the Monkey thing ever since the advertising firms came out with their "Can't Wait to Get Their...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS