How Much Gold Should You Own?
Gold can be an attractive asset in your portfolio, but should only be added sparingly and with due care. Physical gold ownership entails storage and insurance costs as well as transaction fees and markups that should be factored in.
Gold can also be difficult to sell at fair prices during times of financial instability.
How Much Can I Have?
Gold has long been recognized as an effective form of wealth protection, serving as a safe haven during volatile financial events. Furthermore, investing in gold provides a diverse portfolio that does not correlate with other assets.
Investors have the option of purchasing physical gold bars and coins or investing in exchange-traded funds that represent physical metal, both offering unique advantages over each other but lack the tangible security that comes with possessing precious metal in its original state.
Gold individual retirement accounts provide the ideal way to store physical gold. Similar to traditional IRAs, these accounts operate like any other, except they store precious metals instead of stocks. Request your free wealth protection kit now to learn how a gold IRA could help meet your investment goals; currently the maximum limit set by tax law depends on its source.
How Do I Know It’s Real?
Gold has incomparable chemical and physical properties that make it hard to replicate, so knowing how to test its purity is always recommended for protecting investments, avoiding scammers, and appraising possessions more accurately.
An easy and cost-effective DIY test for gold is submerging it in white vinegar to see if the color changes, a simple but cost-effective DIY test.
Check the density of gold by dividing its weight by the volume of water it displaces, then comparing this reading against an established measurement standard. If it matches up close, chances are high you are dealing with genuine metal; otherwise it could be fake metal and should be treated accordingly.
How Do I Store It?
Physical gold requires careful safeguarding. It takes up space and can easily become damaged; some owners store it in fake cookie jars or inside books carved-out to look like pages; however, an intelligent burglar would quickly spot these methods of storage and make an attempt at theft. Instead, consider hiding your bullion under carpet with some sort of wooden cover buried amidst carpet.
Other investors opt for bank safety deposit boxes as a storage solution, but this comes with its own set of drawbacks: bullion is not insured against bankruptcy and access is only possible during banking hours – creating potential delays.
GOLD AVENUE provides secure storage that’s free and fully-insured with instant resale at zero commission, offering peace of mind knowing your gold is safe from being stolen, lost or misplaced at any point in time.
How Do I Sell It?
Gold has long been an integral component of investment portfolios. But sometimes you may require liquidating some of it in order to meet an income goal like buying a house or college tuition fees for your child. No matter your investment inclination or what jewelry items have come into your possession over time, there are various avenues open to selling gold items.
When selling gold, always use current spot price and online calculators to estimate its worth. A scale and looking out for any number engraved onto an object known as its karat can also help determine how much pure gold content there is in an item.
Pack your items securely, and ship them off. Most merchants will offer a price within 24 hours after receiving your package and pay you via either check or an ACH transfer, depending on which method you select.
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