Building Your First Bullion Portfolio: 2020 Edition
Buying precious metals for the first time may seem like a challenge, largely due to the availability of many options and precious metal dealers out there.
The continually changing rates and values of gold, silver, and other precious metal bullions can get overwhelming too. In fact, even experienced investors have to conduct in-depth analyses before making additions or subtractions to their precious metal investment portfolios.
Bullion coins and bars can be excellent investments. That being said, this is only true when you invest in them with a solid strategy.
To help you get started, we’ve rounded up some tips that will help you build your very first bullion portfolio.
Start With Gold Bullions
Though it’s always best to have a diversified portfolio, with physical bullions and a precious metals IRA, we recommend beginning with investing in gold bullion.
Gold bullion has remained popular throughout modern history. Here are some of the many reasons why investing in gold bullion makes for a smart investment move:
- Gold holds its value, which is why it’s accepted across the globe
- Gold bullion can be easily stored in vaults or safe home storage
- At any point in time, if you want to sell gold bullion, you won’t have difficulty finding a buyer.
- Gold prices generally always move up
Know What You Want
If you’ve decided to set up your precious metals portfolio with gold bullion coins, choose the type of bullion you want to include. Some of the best gold bullion coins are American Gold Eagle, American Gold Buffalo, Canadian Maple Leaf, British Britannia, and South African Krugerrand.
If you’re going for gold bullion bars, they’ll be great for investing in an Individual Retirement Account (IRA).
Just like gold, silver bullion bars and coins are also available in a variety of weights (from 1 troy ounce coins to 1-kilogram bars), dimensions, and purity levels, and are manufactured by different brands.
Pick a Suitable Storage Option
There are several options available for storing bullion coins and bars, whether we are talking about gold or silver.
You can choose to save your bullion holdings in vault storage if you don’t want to keep them in a bank deposit, or you can keep them in a secure safe in your home.
However, home safe storage is only a viable option if your holding consists of gold or silver coins in a small amount because there’s always a risk of theft. You can also store them in a self-controlled IRA, held by a precious metals IRA custodian.
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