It’s a good idea to invest in gold in an IRA. This will help you hedge against inflation, while also making a profit. As long as the stock market remains volatile and the economy is not stable, more investors are turning their attention to precious metals and gold. Furthermore, gold and other valuable metals tends against the market trend for the long-term.
Investing in gold may be more difficult than most people think. These are some helpful tips to help you avoid getting sold anything or falling for a slick salesman.
Buy Bullion for Investing, and Numismatic coins For Hobby
Some gold salesmen and companies have a reputation for being less than scrupulous. They will sell you what is called numismatic or “number” coins to fill their pockets. These coins can be considered collectible and are made of palladium or gold, as well as platinum and silver. These coins can be expensive and more costly than their weight in precious materials.
If you wish to invest heavily in gold or silver, it is best to stick with bullion and coins. When you hear that these coins aren’t subject to confiscation by the government, or that sales of them won’t trigger a report to the government, stay away from numismatics coins. To be honest, I advise you to run the opposite direction whenever you get used to scare tactics by government officials to get you to spend money on things you don’t need or want.
Buy First Silver Then Go Gold
Silver is a solid investment at this moment. It is very undervalued, as it has been for a while. A lot of small silver coins are available at extremely low prices, which is called junk. It is easier to sell smaller amounts of silver than to sell large quantities of gold and silver.
It is important to have gold in your portfolio. But, if this is your first time buying precious metals, then you should buy silver and then as small pieces of gold you can afford. An investment advisor from a company that specializes in gold is a great idea. They will help you balance out your precious metals portfolio if it is larger or if the money you invest is going to be used to purchase gold or silver.