One of the biggest stumbling blocks that people run into regarding Investing in silver and gold is how to begin. It is this one unknown that gets in the way of people actually investing in physical metals. I can speak for myself when I say that it’s very intimidating and easier to put it off rather than to take action. The 3 main concerns that were getting in the way were:
1) Where to buy it
2) What to buy
3)How to make sure you’re not being sold fake gold
Let’s address the where to buy it question first.
You can go on the computer and Google local bullion dealers to find out if there are any shops near you. Assuming there are, you can call them and make an appointment to go in and see them. If they ask you what you were looking to buy, simply tell them that you’re not sure but you were looking to spend “X” number of dollars. (Every state has different rules about the sale of gold and silver with respect to sales tax. Check your local laws to find out if there has been any changes.)
Next, we will address what to buy.
I strongly recommend that you begin by purchasing easily identifiable bullion or coins. For example, US gold or silver Eagles, Canadian Mapleleaf’s or Junk Silver. If you are just beginning down your path of investing in the metals, I recommend you start out buying junk silver. This has a very low entry point and is easily recognizable.(Junk Silver refers to coins minted in the US in 1964 and before.)
Finally, we will address how to make certain that you are getting real gold.
While you are there, you can ask the dealer if he has Fisch testers. These are testers for commonly purchased gold bullion. (For example, gold Eagles, gold Krugerrand’s, gold Maples etc.) This is how you can make certain that the gold you’re buying is genuine and why you want to buy commonly recognized forms of bullion.
If you don’t have a local bullion dealer, then I recommend you buy your gold and silver from a reputable online bullion dealer.
Some reputable online bullion dealers are:
Bay precious metals
MCM (modern coin mart)
These three online bullion dealers tend to have the best prices. Do yourself a favor and shop around.
I hope this information allows for you to take action and get into the world of investing in physical silver and gold instead of sitting on the sidelines watching.