5 Myths About Gold
Dating as far back as the 16th century, gold has played a vital role in economies for thousands of years. The fiat currency that we all use now is only from recent history and may one day become obsolete as other forms of financial transactions gain popularity.
This is why even today, investing in gold is preferred by many people across the world. While some people invest in gold IRAs, others seek to build their portfolio with gold bars and coins. For many years, gold has remained a popular choice of investors and people looking to safeguard their hard-earned money.
But if you’re sceptical about investing in gold due to some of the myths that surround the subject, we’re here to put the matter to rest. In this blog below, we’ll debunk 5 myths about gold that will put your mind to ease, and you’ll be excited to become a gold investor.
Five Myths About Buying Gold
Here are the biggest myths about buying gold. Let’s debunk them one by one!
Gold is Only for the Wealthy
Some people have this notion that gold is only for the wealthy. The truth cannot be farther from that. In fact, gold is the only asset that can be bought by anyone, anywhere in the world. You can buy 1 oz. 1.5 oz. or even a gram of gold easily. This makes it possible for people to start investing in gold with as less as a $100.
Gold is a Risky Investment
While we won’t claim that gold is a zero-risk investment, it’s definitely not riskier than stocks or currency. This is because investors turn to gold during inflation or an economic crisis to find a hedge. This makes gold a highly lucrative and relatively stable investment for everyone.
Buying Gold Coins is Scam
Buying gold and silver coins should be done diligently. So while there are people scamming innocent individuals with poor-quality and fake gold bars, buying gold is not a scam. Buy from a reliable gold exchange to get value for your money.
Gold is Not Good for Long-Term Investment
Some people may tell you that gold is not meant for long-term investment. This is, again, just a myth that deserves to be busted. Gold is the most suitable option for people looking to invest in the long term. This is because gold has reported a growth trend for years and currently values more than in the past.
Gold Cannot be Stored Safely
Many people hesitate to buy gold for safety reasons. Once again, you have multiple safe options for keeping gold, including vaults and storage for gold offered by reputable companies. You can keep small quantities of gold coins at home or rely on a storage facility.
Buy Gold from Trusted Sellers
But like every investment, gold investors must be cautious too. If you’re looking to buy gold and silver coins for the first time, reach out to us at Orion Metal Exchange. We are a best gold ira companies and precious metals ira custodian offering gold bullions, coins, and storage vaults in the U.S.
