Many people are starting to get interested in how to buy gold. For those that are new to buying gold it can be confusing on the best way to own gold. Buying gold is an important decision and finding an experienced gold brokerage firm can be a good idea to get your questions answered.
The true benefit of owning gold comes from owning physical gold which is different than gold funds, gold mining share, and other gold accounts which leave you vulnerable to downward trends in price.
For greater understanding which is the best way to buy gold for yourself you have to understand the two basic types which are gold bullion and numismatic gold coins.
There are many different forms of gold bullion coins or bars which are issued by countries around the world. The most popular gold bullion coin is the American Gold Eagle. Others forms of gold bullion include Canadian Maple Leaf, Austrian Philharmonic, and the South African Krugerrand.
The price of gold bullion is determined by the spot price of gold plus a small premium for the purchase of the physical gold. Gold bullion can be purchased in 1/20, 1/10, 1/4, 1/2 and 1 ounce sizes.
Numismatic gold coins which are also called rare gold coins have a few advantages over gold bullion coins which adds to their value. Numismatic gold coins are not minted any more unlike gold bullion coins which are minted every year. The scarcity of rare gold coins adds an intrinsic value beyond the just the gold content. Numismatic gold coins are what is called a private position in gold which allows sale of these coins without a 1099-b IRS reporting.
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