The Best Place to Buy Gold

by IRA Rollover in Gold, Gold IRA rollover with Comments Off on The Best Place to Buy Gold

It’s not that simple to tell a new investor the best place to buy gold.  There are a lot of factors in figuring out the best place to buy physical gold.  For instance, if you want to hold physical gold in an IRA account there are fewer places to buy that gold than if you wanted to keep possession of the gold yourself.

Finding a Gold Dealer

There are a lot of gold dealers to choose from both online or off.  The best place to buy precious metals is from a dealer or company that you trust and that deals fairly with its clients.  Look carefully at fees and premiums and compare them from one dealer to another.  Gold dealers have a right to make a profit on their service but some premiums are exorbitant and you should avoid those businesses.

Check to see if a dealer gives you proof that your gold has been delivered, either to your home or office or to your gold IRA.  Look up any complaints that may have been lodged against them—did they resolve those complaints quickly and to the clients’ satisfaction?   Look for a dealer that has membership in the Professional Numismatists Guild so you know you’re not dealing with a scammer but an ethical business.  Some dealers that don’t handle coins but only gold bars may not be members of PNG and in that case, look for other associations they may have. Ask your friends and coworkers as well as your investment advisor for recommendations.

Can you buy Physical Gold in an IRA?

You can buy physical gold for a gold IRA but it must be stored in a federally approved facility that is both secure and insured.  You may see dealers or banks that offer to “hold” it for you but if the gold is for your IRA this type of storage is not legal.  You can have a bank or firm hold your physical gold if it is not for an IRA but it would be a very bad idea.  If the firm goes bankrupt you will have a difficulty recovering your assets.  If the bank fails you are not covered by FDIC insurance because by allowing them to store your gold you have become a creditor, not a depositor.

Use Common Sense

Although you may be tempted by lower prices, never buy uncertified coins!  Many of these appear to be bargains because they are counterfeit.

If you are making inquiries and the sales representative begins to pressure you into buying, cross them off your list.  Some will tell you to buy gold coins rather than bars because the government can confiscate the bars.  This is not true but some unscrupulous sellers use this rumor to scare potential clients into buying a pricier product.  Don’t allow anyone to pressure you and if they do, end the call or blacklist the email address.

When you are looking for the best place to buy physical gold there are many ethical and reliable dealers.  One that you should seriously consider is Regal Assets, a company that gets consistently good reviews and whose customer satisfaction is very high.

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