Posts Tagged ‘gold bullion’

Jim Sinclair – Gold and the Death of Capitalism

by IRA Rollover in Gold Advisors with Comments Off on Jim Sinclair – Gold and the Death of Capitalism

There is no shortage of articles and education telling you how to invest in gold, especially gold bullion bars and coins. Spokespersons abound, ranging from radio talk show hosts to former treasury employees, from ex-presidents to presidents of gold exploration and production companies. Jim Sinclair belongs to the latter group. As chairman of Tanzanian Royalty Exploration, he is so knowledgeable and his advice so respected that he has earned the nickname “Mr. Gold”.

Who is Jim Sinclair?

jim sinclair gold investing ira rollover

If you have any questions about precious metals, commodities, or foreign currencies Jim Sinclair is an acknowledged expert on such things. In 1977 he founded The Sinclair Group, a full service brokerage firm with branches in the United States, Canada, Switzerland, and England. From 1981 to 1984 he was an advisor to Hunt Oil. He’s been associated with two New York Stock Exchange firms and served as president of his own commodity clearing firm, Sinclair Global Clearing Corporation as well as Global Arbitrage. Since 2002 Mr. Sinclair has been chairman of Tanzanian Royalty Exploration, a company that explores for and produces precious metals. He became Executive Chairman of Singapore Precious Metals Exchange in 2013. Sinclair is also the author of dozens of widely published articles as well as three books on investments, precious metals, global events, trading strategies, and how all those aspects affect the world economy.

Jim Sinclair has an impressive background in precious metals and is an astute observer of economic cycles. When he publishes his opinions about how to invest in gold, silver, gold bullion, and other precious metals the investment world generally listens carefully. 

What is Jim Sinclair’s Theory about the Economy?

In 2006 Jim developed an economic formula that explains the cycles of want and prosperity:

  • Interest rates rise, stimulating the housing and motor vehicle industry.
  • Other industries respond and rise or fall and jobs also respond. There are no plateaus or prosperity in economy, it is always moving up or down.
  • Once economic activity starts to slow, the market rises until major companies announce earnings that make the market fall quickly.
  • Profits are curtailed and that means the treasury doesn’t take in as much revenue in taxes.
  • The federal budget sees an increase in the deficit at spending increases each year but tax collections don’t keep pace.
  • Investment in the United States suffers from growing caution about the economy and the deficit.       More dollars are going abroad than are being taken in and the shortfall must be financed somehow.
  • Interest rates rise, especially long term rates, and business activity slows in response. The economy continues its downward spiral. The government sees that it has to adjust interest rates to stimulate the housing and motor vehicle market to get the economy going again and the entire cycle repeats.

This is not a very optimistic view of the economy but it is realistic. If a wise investor pays attention and pinpoints when each phase begins and ends, the cycle can be quite profitable. It can help you schedule best how to invest in gold by timing your purchases to get the most from your dollar. Looking at the economic cycles realistically allows you to time your purchases of investments so that you get optimum value for your retirement account.

What Will the Future be Like for Retirees?

Mr. Sinclair believes that unless you look at the present and future economy realistically you won’t have the retirement you want or deserve no matter how you invest. He believes that between the markets and the government, capitalism no longer exists and a new financial system is on its way in, slowly but surely. Jim also believes that OTCs, not the housing markets and other economic factors, were the main cause of the Great Recession that spread around the world.

OTC (over the counter) derivatives (OTCD) are the main culprit in the death of capitalism and the ruin of the world economy. OTCD are unregulated trades that don’t involve a formal exchange such as the New York Stock Exchange or American Stock Exchange. They include debt securities traded through a dealer network that is unregulated with very few rules. Stocks on OTC networks are typically those that can’t meet the listing requirements of the legitimate stock market exchanges. According to Jim Sinclair, OTCD are in large part responsible for the economic meltdown of the world economy.

facts of economy future

So what is the future now that the economy is having such a hard time restarting? Currencies are falling and are no longer valuable in the long term. Capitalism has largely been crushed as government has taken over markets and largely regulated free enterprise out of existence.

That leaves gold bullion and other precious metals as the only reliable source of wealth in the new economy that is developing.

How in the World Can a Retiree Spend Gold?

It’s all well and good to learn how to invest in gold and other precious metals but how do you spend it when you retire? Do you cut off chunk to buy food or pay utilities? Do you buy in varying weights that you will use in place of a worthless dollar?

Such scenarios can only happen in the fictional world of movies. In reality, there will be a currency system in place by the time you’re ready to use your IRA to fund your retirement. Just like our current system, you can buy currency with your gold and other precious metals that you can use to spend on necessities and luxuries.

The advantage to investing in precious metals is that it will be worth something no matter what currency is on the market. A dollar’s worth of gold will still be worth a dollar and a Euro’s worth of gold will still be worth a Euro. In any currency present or future, gold will hold its worth. Real estate, precious and semi-precious gems, collectible coins, art, and other investments can lose value but gold and precious metals are always viable and valuable no matter what kind of economy you are living in.

In the future, just as in the present, you will be able to exchange your gold and other precious metals for the currency being traded. No matter what country you are in or the form of currency they are using or how it is backed, gold will provide you a comfortable lifestyle.

Prepare Yourself for a Great Retirement!

gold ira rollover

With the relatively recent economic collapses, the global recessions, and gloom and doom predictions you might think that a comfortable retirement is beyond your reach. Nothing could be further from the truth!

Gold is a great way to insure that your retirement years are the best of your life. Remember that the key to wealth and security is diversity; it’s wise to have a mixture of precious metals, stocks and bonds, mutual funds, and other financial products. Experienced investor and gold expert Jim Sinclair advises that you start learning all you can about how to invest in gold then slowly build up your retirement account with gold bullion and other precious metals.

We suggest you to follow the below three steps:

Investing in gold or any other precious metals should be a well thought through decision.  We advice you to do your research and be comfortable with whichever company you decide to invest with:

Step 1:

Visit our  Top Gold IRA Companies review page

Step 2:

Visit our recommended company Regal Assets

Step 3:

Call this Regal number and get all your questions answered – Free of Cost – 1-877-721-2659

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If you are a conservative you’ve probably heard at least one commercial featuring Glenn Back promoting the sale of gold bullion at the very best gold prices available. Since 2008, his radio and television shows as well as his internet endeavors have been sponsored by Goldline, LLC, a company he enthusiastically endorses. But do they really have the best gold prices on gold bullion?

Things Aren’t Always What They Seem

Most large companies maintain a publicity department to project a favorable image and counteract any negative feedback or news regarding their operations. In most cases the public can be persuaded to believe the best about anyone or anything if there is a good PR firm involved. However, once legal action is taken it’s hard to put a positive spin on it. This is what happened to Goldline.

In November of 2011, California prosecutors charged Goldline with using a bait-and-switch tactic to lure customers into buying antique coins as investments. A total of 19 counts of theft and fraud were included in the indictment. The complaint alleged that Goldline lured customers with gold bullion then persuaded them to invest in overpriced coins “using false and misleading claims”. There were also complaints from customers who received different products than what they ordered. Goldline had to pay to have a federal prosecutor monitor their operations for five years in order to make sure they are operating honestly and not misleading consumers.  

Sales personnel at Goldline were trained to offer gold bullion but switch to overpriced antique coins that were marked up as much as 50%. In order to lure customers seeking gold bullion and the best gold prices Goldline hired high visibility spokespersons such as John Mercanti, a retired engraver for the U.S. mint. Other prominent endorsers include radio personality Mark Levin, Mike Huckabee, actor and politician Fred Thompson, and Laura Ingraham. 

Don’t Believe Everything You Hear

Celebrity endorsements do not mean a product is good; it means that the celebrity is being paid to get you to buy the product. A popular actor or politician brings in sales because people trust their perception of the kind of person they are. They don’t realize that those personalities are not actually the people they portray on the screen or impersonate on the campaign trail. A product should be purchased on its own merits, not by what a popular actor or public figure says about it.

When a spokesperson claims that they are a customer of a company like Goldline it is probably true. Companies hand out products to their endorsers at no charge or minimal cost so that they can make the claim that they buy the product.

invest in precious metals ira

What’s So Wrong About Buying Antique Coins? 

There is nothing wrong with buying antique coins as investments as long as you know that their value is fluid depending on the market. Numismatic coins are a fascinating hobby and can be quite profitable but their value depends on supply and demand. Buying a gold collectible/antique coin will often cost you more than the value of the gold it contains and if there is no demand for it you can lose up to 90% of what you paid for it.  

If you are buying antique coins because you love to collect and sell/trade them, that’s a valid reason. If you are buying them in order to invest in gold, you may be making a costly mistake. Selling these coins to buyers who know nothing or very little about the market for collectible coins is very profitable to the seller but quite costly for the buyer. Remember that it is their business is to get you to buy those coins and they’ll do anything to get your money. 

Making Money by Fomenting Panic 

Companies dealing in gold bullion and other precious metals aren’t the only ones that encourage a fear of economic and societal collapse to get you to buy their products. If you acted upon all the dire warnings you hear on television and radio your home would be full to the rafters of gold, silver, platinum, palladium, freeze-dried food, guns, ammunition, water filtration devices and various items of barter. Their reasoning is that if you feel as if your family is threatened you’re going to spend all you can afford on these things. Actually, the only ones that profit are the merchants you buy from. It total collapse really came to pass, none of those items would do you much good in the chaos that would result. 

Another tactic Goldline and other companies are fond of using is fear government confiscation of gold. The sales staff would tell prospective buyers that antique coins are the only type of gold that the government can’t legally confiscate. This is not true and there are no federal laws or Treasury regulations that back up that claim. It’s true that the federal government confiscated gold in 1933 but that is the only instance and federal law states that confiscating the gold of private citizens is legal only in a national emergency.  As a condition of their settlement with California, Goldline is no longer permitted to claim that the federal government can confiscate the gold of private citizens.

protect your family from failing economy

When is the Best Time to Buy Gold?

The best time to buy gold, quite frankly, is any time. There are scores of headlines about gold hitting bottom or being at its highest price in history, shouting at you from internet and print headlines as well as mass media. The truth is that whatever the price of gold is, it’s more valuable than our paper currency that is backed only by air and promises.

You’ll find that when stocks are at an all-time high, inflation is under control and the dollar is strong the price of gold is low. This doesn’t mean that gold is worth less, it just means that consumers and the government are confident in the economy and the demand for gold is not at its highest. When these conditions worsen, the price of gold is higher. Gold’s worth is not dictated by the economy, only its price. It is the most stable commodity you can buy and will be one of the few valuable media of trade if the currency collapses.

Make Your Gold Investment Wisely

It’s a good idea to diversify with silver and platinum when you are investing in precious metals. As well as having a variety of metals it is also wise to buy a number of sizes. Precious metals, including gold, are sold in weights as small as one gram (.03 ounces). This means that you can buy gold for as little as $40-50 and begin to build your security and wealth.

Glenn Beck and other celebrities and public figures will try to get you to buy gold from the companies that pay them. It’s up to you to thoroughly research the companies you are thinking of doing business with. Dealing with a company you can trust is just as important as getting the best gold prices on gold bullion and other precious metals when you are insuring a secure retirement.

We suggest you to follow the below three steps:

Investing your hard earned money should not be a quick decision – We advice you to do your research and be absolutely comfortable with whichever company you decide to invest with:

Step 1:

Visit our  Top Gold IRA Companies review page

Step 2:

Visit our recommended company Regal Assets

Step 3:

Call this Regal number and get all your questions answered – Free of Cost – 1-877-721-2659

regal assets

Don’t Let Future Market Bubbles Ruin Your Retirement

by Rebecca in Retirement with Comments Off on Don’t Let Future Market Bubbles Ruin Your Retirement

If you have a gold IRA in your retirement portfolio you are probably more aware of economic trends than most people. Your gold investment—whether it’s gold bullion, gold coins, or gold stocks—will protect you from the ravages of a bad economy. Still, you know it’s better to be prepared with an eye on the economic forecast.

There are a couple of disturbing trends right now that might or might not affect your gold investment planning. You may want to add to your gold IRA or just sit tight and see what happens. Either way, you’ll have the knowledge to make the right decision for your retirement portfolio.

Is a Housing Bubble Forming Again?

We all remember the chaos of 2007-2008 when the housing bubble burst. No one emerged unscathed except those few who saw it coming and compensated for it. There were a lot of warnings but few people were paying attention. Now it looks as if there might be another housing bubble forming.

A housing bubble happens when there is a precipitous increase in the price of housing. Investors think the prices of their properties will increase so demand for housing increases as more people look for good investments. This continues until eventually they price themselves out of the reach of most consumers. The bubble pops, prices plummet, and property becomes worth less than what the investor owes on it. Equity in one’s house becomes more valuable as the prices rise but when the bubble bursts the owners are often “upside down”, owing more than the house is worth.

What Precedes a Housing Bubble?

The housing bubble of 2007-2008 contributed significantly to the financial crises of that time and indeed, decreased consumer wealth by an astounding $7 trillion. This type of bubble generally happens every 13-15 years. Rental prices are one indicator that a bubble is expanding; houses and apartments get more costly to rent and the cost to income ratio increases until people begin relocating or downscaling drastically. The price of housing right now is 25%-60% higher than the economy can reasonably justify. Prices in many major cities are so high that over half the renting population can’t afford a basic 2-bedroom apartment.

What about the Mortgage Market?

In 2015-2016 saw more and more mortgages offered to people who may not be able to afford them. One company advertises that you can “blast off” with a mortgage with just the push of a button, presumably on the keypad of your phone as you negotiate with an automated mortgage line. Lending standards aren’t as low as they were prior to 2008 but they are more lax than they should be in order to maintain a healthy economy.

Buying a house should result in a debt to income ratio of no more than 43% but most mortgages being underwritten today result in a much higher and unhealthy ratio. For instance, if a person makes and annual income of $90,000 they can reasonably afford a house priced at around $300,000. In states like Florida, California, Arizona, and even Tennessee, the average mid-level house is priced at nearly twice that much. The middle class consumer is being priced out of the market in many areas. Not to mention the current U-6 unemployment rate of 9.2% that economists say is much more realistic than the reported rate of 4.7%. Circumstances just like these forewarned savvy investors of the inevitability of the last housing bubble bursting.

On the other hand some market watchers theorize that builders are simply facing challenging conditions such as lack of skilled labor and affordable land on which to build. Thus, demand for housing exceeds supply which drives up prices for new homes and supports higher prices for existing properties.

Whether or not a housing bubble is forming, now is a good time to focus investment strategy on tangible, solid assets like gold. Investing in gold in doubtful financial circumstances like the present is always a good plan. Many investors are backing off the real estate market and are buying more gold instead. Gold never loses value and is always a wise investment.

Then there’s the Auto Bubble…

Right now a housing bubble isn’t all we have to worry about. There is a new economic threat sometimes referred to as the “underwater car”. Just like the subprime mortgage debacle, there is now an overabundance of auto loans given to consumers with bad or shaky credit. You have probably heard the commercials—bad credit, no credit, just go to this dealer and drive off in the car of your choice. We’ll make you a deal even we can’t refuse!

The average car loan in 2016 is 68 months and subprime loans are as long as 8 years. 1/3 of all vehicles under lien have negative equity. While this is not unusual in the auto industry—a vehicle depreciates the moment it’s driven off the lot—the vehicle is as good as worthless halfway through the life of the loan. Borrowers are trading in their cars and trucks before they pay them off, rolling over the loan balance into the new vehicle’s financing. This is an endless cycle of debt that keeps growing.

One in five borrowers in the auto loan market are now 60 days or more behind on their payments. Delinquency rates are higher than they were in 2010.

What Happens if the Auto Bubble Pops?

While an auto bubble is a problem, it’s thankfully not enough to drastically affect the economy as much as the housing bubble in 2008. It’s still a sign of an economy headed for trouble, much like the tickle in your throat signals the onset of bronchitis or another illness. The lenders affected by this subprime loan bubble are going to be hurt and the fallout will not be pretty. Many financing establishments will fail as they’ll certainly deserve to. If there are any repercussions because of this particular bubble bursting, you’ll be happy that you have gold in your retirement portfolio.

Take Precautions Now

In both these economic bubbles the value of property goes down while the level debt stays the same. That is not good news for the economy but you can minimize its effect on your own finances and retirement plans. Your gold IRA will have just as much value as it had last year and the year before even if you don’t decide more gold investment is called for. Gold bullion and gold coins in your retirement portfolio will always keep their value no matter what the economy does.

Here is the #1 Rated Gold IRA Company

regal assets

Gold’s Role in a Cashless Economy

by Rebecca in Gold with Comments Off on Gold’s Role in a Cashless Economy

Most of us interested in gold coins, gold bullion, and gold rollovers have read some articles and heard rumors about a cashless society.  Any major change can be upsetting both personally and financially but there are other things to consider, too.  What about personal safety and liberties?  How does a person protect themselves from the consequences of going cashless?  Can gold and other precious metals protect you when currency has been made obsolete?

People who educate themselves are able to minimize the impact of important changes in their lives, whether those changes are personal or financial.  By finding all the available facts about the impending cashless society and dispelling baseless, sensationalist rumors you can protect yourself and your loved ones and even thrive in the economy of the future.

What is a Cashless Society?

It’s hard to imagine doing business or everyday errands without currency or coin but in the 21st century that’s what many of us do, for the most part.  It began with the checking account; people could write checks that represented money in order to pay bills or buy goods and services.  Banks encouraged check writing because it left a lot of room for error—those who did not keep track of their account balance often “bounced” checks and the banks could charge them a penalty for doing to.  Checking accounts are quickly falling out of favor now that banks issue debit cards, and electronic way to immediately access cash from a bank account.  Plus, if someone doesn’t have enough money in their account they can use a credit card.

A cashless society would depend on credit and debit cards for purchases.  No one would have coins or currency, only cards or access numbers.  There are already hand held key fobs that one can swipe rather than a card and some think that a human UPC code is not far behind.  These methods made purchases and payments very easy but they also have many disadvantages.

You may not think that a cashless society would be so bad.  Crime would presumably go down since people would no longer carry cash.  You would no longer be shortchanged as computers and not cashiers would be making the final transactions.  There would be no more fumbling for the proper change or quarters for toll booths.  Children would no longer lose lunch money.

So much inconvenience could be done away with!  However, any conveniences from a cashless society would be outweighed by its impact on personal freedom.  As with many conveniences, a cashless society could come with a heavy price.

Why do Banks and Governments Want to Ban Currency? 

Currency can be hidden away, nearly impossible to find by anyone but the person that stashed it.  It can also be collected from sales of illegal goods or services than “laundered” through legitimate businesses, thus protecting criminals and allowing their businesses to thrive.  If we had only digital currency it would be nearly impossible for criminals to disguise the trails of revenue.

Without currency there also won’t be “runs” on banks.  In 2015 the Greek economic crises sent the populace into a panic; $894 million was withdrawn in just one day.  That kind of activity could collapse the U.S. economy as well as many others.  The banks can’t control your cash very efficiently but they can control digital currency—and they do!  Have you ever deposited a check only to be told that the bank will hold it for days until it is deemed to be good?  They can do that even with a cashier’s check.  Many banks even make you present identification if you dare to deposit cash!

Paper money keeps controls things like negative interest, which benefits banks.  Basically, negative interest means that you are paying the bank to handle your money.  For instance, most banks charge a monthly fee for checking accounts and even for savings accounts.  If these rates become too great, consumers can just withdraw their money and hoard it at home.  This leaves the banks with a big chunk of their assets gone.  Getting rid of currency gives the banks control of your wealth because it will all be digital and you can be locked out at any time with a few keystrokes.

A cashless society would also allow government agencies to manipulate accounts, impose and collect taxes, and punish dissenters by freezing or confiscating their money.  You could not even get medical help unless the government decided to permit you to by leaving your finances alone.  Now, these are admittedly over the top theories and projections but you need to prepare for the worst and hope for the best when it comes to the future, both personally and financially.

There is every reason for the banking industry and the government to encourage a cashless society.

When Can We Expect Cash to be Eliminated?

There have been proponents for a cashless society ever since the dawn of the digital age.  In recent years many people have encouraged the government to start eliminating currency including Willem Buiter, chief economist at Citigroup, and Kenneth Rogoff with Harvard University.  In the last couple of years they have proposed what’s come to be called Economic Totalitarianism, the elimination of cash from all rungs of society.

Believe it or not, there have been some actual test runs of a cashless society to find out how consumers would react.  In 2014 a group of Manchester, England shops banned the use of cash and accepted credit or debit only to see if British citizens would welcome a cashless economy.  The buses in London stopped accepting cash payments that same year and the dealers on the Currency Exchange started a campaign to offer debit cards rather than cash, citing the greater safety of the cards.

You may think a cashless society is in the distant future given the number of countries in the world and the inability of governments to work together.  However, the world’s finances are controlled not so much by governments as by wealthy individuals with a great deal of influence over their governments.  A cashless society could come at any time, especially since consumers prefer ease over liberty.

How Does Gold and Other Precious Metals Protect Me?

Gold and other precious metals will always be valuable even when alternate forms of trade are worthless.  In a society whose wealth structure lies in the digital universe, where is the underlying value?  A cashless society requires trades on assumptions of wealth; your bank says you have five hundred dollars to spend but there is nothing to back it up.  There is no paper currency, no metal coinage, and no guarantees whatsoever.  All you have is numbers in cyberspace representing wealth with no physical goods to back them up.

A cashless society is prone to inflation, deflation, and stagflation (persistent deflation with accompanying low employment and low demand for goods).  Since there is nothing backing the method used for purchase, there is no value in the goods and services themselves.  If I trade you digital numbers for a window that you bought with digital numbers that is not true commerce.  That type of transaction is like passing clouds back and forth—worse, because at least clouds have water, which has real value.

Eventually a cashless society will either collapse or achieve total governmental control of all physical, mental, economic, and health aspects of its population.  Given the love of liberty in human nature, a collapse is more likely.  Whoever has something valuable to trade when the collapse approaches will come out in better shape than those who have none.

Gold and other precious metals have many advantages over jewels, art, and other physical investments.  It can actually be used industrially, as can silver.  It comes in a variety of shapes and sizes, thus it can be traded for a variety of good or services.

Practically anyone can own gold no matter how much money they have.  You don’t have to buy a whole ounce of gold in bullion or coin, although that’s the method many people prefer.  You can buy small increments of gold and other precious metals in a variety of forms.  You don’t have to be the victim of a cashless economy and a society in chaos unless you choose to be.  You can protect yourself and your family with the enduring value and security of gold.



Why Physical Gold Storage is Important

by IRA Rollover in Gold, Gold Bullion with Comments Off on Why Physical Gold Storage is Important

If you’re thinking about making your IRA more secure by purchasing gold and other precious metals you may be wondering about physical gold storage — can you keep it in your home?  Where will it be safe from damage, vandalism, natural disasters, or theft?  You can rest assured that your gold and other precious metals that you buy for your IRA will be safe, secure, and available if and when you decide to make a withdrawal.

The Tax Payer Relief Act was passed in 1997 to allow precious metals to be included in IRA accounts.  This means you can purchase gold, silver, palladium, and platinum for your IRA rather than be confined to investing in the stock market and other riskier ventures.  However, the metals have to be 99.9% pure no matter which metal you choose.  Examples of acceptable gold are bars, ingots, US gold and silver eagles, Canadian Maple Leaf, etc.

Federal law mandates that all precious metals purchased for IRA accounts be stored at a federally licensed IRA custodian.  It is the

physical gold storage

same law that applies to stock certificates or a money market account that is part of your IRA—you cannot physically hold these assets but must store them in a safe, impenetrable facility.

One of the most well known depositories for gold and precious metals is the Delaware Depository Service Center (DDSC).  This is located in Wilmington, Delaware, and is an approved center for storage and distribution of precious metals.  It stores precious metals and provides shipping services to investors worldwide, including financial institutions and industrial giants.  It is heavily insured so that if anything should happen to your gold despite the security systems and environmental protection amenities (such as sprinklers and smoke detectors), you don’t lose the value of your precious metals.

There are two ways your precious metals are stored.  Fungible storage means that your gold or other precious metals are grouped with other depositors’.  When you take a distribution you may get a different item of gold than you deposited but the purity and value is exactly the same.  Segregated storage means that your metals are stored separately and you get the exact same items that you purchased when you take a distribution or sell them in the future.

You will pay a storage fee for your precious metals based on the value of your account. Segregated storage fees are a bit higher than Fungible storage fees.

So what if you want to store gold or precious metals in your home or a bank box?  You can certainly do that but they cannot be a part of your IRA.  Some people do purchase gold and store it in a safe on their own premises.  However, there is always the possibility of theft or natural disaster that can compromise its safety.  You can also store it wherever you choose once you withdraw it as a distribution from your IRA but that can be risky.

Purchasing gold for your IRA is an excellent way to escape the ravages of inflation, hyperinflation, and economic uncertainty.  Having a secure place for physical gold storage will give you peace of mind as you watch your gold and other precious metals appreciate.

 physical gold storage

Can You Buy Gold Bars?

by IRA Rollover in Gold, Gold Bullion with Comments Off on Can You Buy Gold Bars?

When people are looking for safe investments that will hold their value they generally ask, can you buy gold bars?  Fortunately, the buy gold barslaws about gold have changed since 1933 when everyone had to turn in their gold to the federal government.  In 1974 that law was repealed by President Gerald Ford.  The new law allows people to own gold bars, gold coins, gold bullion and to buy gold ingots and gold certificates.  Gold cannot be specified as a payment of a specific contract, though.  In other words, you can buy gold but no one can contract for goods or service and demand payment in gold.

Gold bars come in many sizes, enabling people without vast amounts of cash on hand to buy and own gold.  Most people to buy gold save a little each month and buy gold bars annually or quarterly.  Some buy an ounce at a time, some several ounces, and some buy smaller gold bars according to what their budget can handle.

Buying gold bars is popular right now because bars carry lower premiums than gold bullion coins.  You can save as much as $50 per ounce when you buy a gold bar instead of an American Gold Eagle coin.  Gold bars come in all sizes:

  • 1 ounce bars
  • 10 ounce bars
  • 1 kilo (32.15 troy ounces)
  • 100 grams (3.215 troy ounces)

All these types of gold bars are at least 99.5% pure as per federal mandate.

One ounce bars are affordable for many people but more than 30 types of bars on the market today. You can get a gold bar as light as half a gram but generally, the lighter the bar the higher the premium.  The standard bars held in federal gold reserves by central banks are 400 troy ounces, which equals 438.9 ounces in standard measurement.

If you want a gold bar that easy to sell, should you have to, 100 gram bars fit the bill.  10 ounce usually bought by people that are buying several hundred ounces.  Those who want less than a hundred ounces may be interested in the 1 ounce bars or 100 gram bars since both offer more flexibility if you should need to sell some of your gold for some reason.

One ounce bars are a good buy for those who can’t spend a lot all at once.  The mark-up is less on a one ounce bar than on a one ounce bullion coin and you can save as much as $40 per ounce.

You can also buy 5, 10, and 20 gram gold bars at smaller premiums than fraction-ounce gold coins.

As you can see, buying gold bars rather than gold coins is smarter economically and they are easier to liquidate.  You have a lot of choices when it comes to buying gold bars, which makes them a great asset to include in an IRA.

So in a nutshell, when you ask “can you buy gold bars?” the answer is yes you can and yes you should!