Buy/sell: gold & silver basics to get you started
Silver and gold are undoubtedly two of the most well-known precious metals on the planet. With a wide array of uses and reasons to place hefty value on them, they continue to hold the standards for collectors and investors alike. So, it’s not wonder so many consumers trade or buy/sell gold or other precious metals.
But how does someone get started in the art of numismatic practices, gold and silver investing or simple collecting safely? Here are the primary factors to consider when searching, investing, buying and selling gold and silver.
Target your precious metals based on intent
Are you a collector, proprietor of bullion regardless of the market prices? Perhaps, you’re an investor hoping to diversify your investment portfolio with something more tangible, like gold. Maybe, you’re a numismatist searching the world for rare finds and a curiosity for pieces of the past.
Regardless of your reason, understanding why you’re searching for valuable precious metals is the first step. For those hoping for a quality investment without the hefty price, try investing in tangible gold bullion. For those searching for a bit of variety and living history, try finding bullion gold and silver coins from various parts of the world.
Buy/sell gold & others with confidence
Knowing the basics is a great way for you to purchase with confidence. Along with finding a reputable dealer with a great track record for customer satisfaction, understanding the basics of your metals is the next step to purchasing without concern.
For example, gold is a soft metal that often needs to be combined with other harder metals, such as copper or even silver. The composition of this alloying is what gives you the fineness of the metal. Gold is often referred to on a .999 scale, along with silver. However, gold is also categorized by karats.
Enjoying your gold & silver – & other precious metals
Now that you’ve found one of the rare gold coins you were searching for, invested in your first bars or simply purchased a commemorative bullion coin, you’ll need to find a home for your precious metal piece.
Be sure to store commemorative pieces behind protective casings. If you’ve purchased an investment piece, a physical location with advanced security options may be a better fit. If you’re simply passing along a hobby or want the memories, try finding a book or easily moved display casing for your collectibles.
If you’ve purchased electronic assets based on the price of gold, be sure to watch the market and monitor your accounts frequently to ensure proper movement of those assets.\
If you sell your gold & silver
These tips also apply to selling gold, silver and other precious metal pieces. When selling, be sure the piece you have is a genuine article. If selling to a fellow collector, be sure to have a qualified third party available to avoid disputes in price and quality.
If you’re more interested in getting the best price, choose a reputable dealer who can give you a fair estimate and maybe even a bit of history or other knowledgeable facts about your piece.
Whether you trade, buy, sell – gold, silver and other precious metals are a great and fun investment to dig deeper into. Regardless of your commodity preference and reasoning, these tips are bound to help you get the best price, the highest quality pieces and keep the merriment going for years and generations to come.