There are two basic reasons for buying gold and silver. The first reason is because you want to add it to your investment portfolio and the second reason is because you are concerned about a financial meltdown.
Both reasons are valid we will explore them individually.
Let’s take a look at the first reason, investing in gold and silver as an addition to your investment portfolio.
When buying as gold and/or silver an investment , there are 3 things to consider.
#1 is where to buy.
You want to be certain that you are buying from a reputable bullion dealer.
There are several highly reputable dealers such as a APMEX, Bay Precious Metals and Modern Coinmart. These companies have a great reputations and standby whatever they sell. The main differences between these companies is the fee that they charge over spot when you buy your bullion. There are companies out there that advertise the lowest cost over spot but they don’t have the same quality reputation. If you buy just on price alone, you could be sold fake gold and silver coins and have no viable recourse.
#2 is authentication. (You want to make certain you are getting real gold and silver.)
When buying gold coins, it is wise to buy easily recognizable coins such as US minted gold Eagles, gold Krugerrand’s from South Africa or gold Maple Leafs from Canada and get yourself a Fisch Gold tester for the coin or coins that you intend to purchase. Fisch gold testers are used worldwide to test weight, diameter and thickness for a variety of gold coins. I recommend buying a set and consider it an investment in your investment portfolio.
You can also buy an acid testing kit that test for both gold and silver. This will tell you if the coin you are evaluating is gold or silver but it has its limitations. The main limitations are that it will only tell you if the surface is real gold or silver but not the core of the coin. The other downside is that the acid will superficially stain the surface that you are testing.
#3 is if you want your purchases to be trackable or if you want to buy anonymously. Anytime you buy gold and silver from a dealer and use a credit card or a check you leave a trail. If you wish to buy anonymously you should find a local bullion dealer, buy less than $9999 at a time and give John Smith, 123 Main St., Anywhere USA for the receipt.