What Are the Different Ways to Invest in Gold?

Gold has been used as a store of value since ancient times. Today, a single ounce of this precious metal surpasses $1,500. It represents one of the safest investment options  as it’s immune against drops in currency value, effects on inflation, and fluctuations in the global economy.

There are numerous ways to invest in gold, not all of which make sense to the average person. In this blog, we’ll take a look at and explain a couple of ways you can invest in gold.

Purchasing Gold Bars as Long-Term Investments

If you’re interested in investing a significant amount of money in gold, it’s better to purchase gold bars rather than coins. This type of purchase is straightforward, easier to keep track of, and easier to store. The downside to buying gold bars is illiquidity, which makes capitalizing on other investment opportunities much more difficult.

Buying Gold Coins or Bullions

If you don’t want to invest a large amount of capital into gold and instead only want to spend a few thousand dollars, then gold coins or bullions is the way to go. These coins are easier to sell when you wish to liquidate your investment.

One thing to remember is to always buy gold coins that are widely accepted and circulated instead of rare ones which prove difficult to resell or evaluate. Examples include the American Eagle and the Canadian Maple Leaf.

Store the Gold in Your Home or a Safe Deposit Box

Once physical gold is in your possession, you’ll need to store it safely to protect your investment from theft or loss. The most common storage options include banks or at home, within a safety deposit box. While storing in a bank is definitely safer, at times, external factors might make it difficult to withdraw your assets.

Storing your gold at home eliminates this risk but results in higher insurance premiums. The third and perhaps the best option is to contact a reliable precious metal storage company and avail their storage services.

We recommend purchasing gold coins. Not only are they cheaper than gold bars, they’re also highly liquidable. Orion Metal Exchange is a Professional Coin Grading Service authorized dealer that sells gold and silver coins and also offers precious metal storage and gold IRA services. Contact us today for more information.

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