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Learn About Three Ways to Buy Gold, with U.S. Money Reserve

3 Ways to Buy Gold: Which Way Is Best for You?

John-Rothans

Written by John Rothans

Aug 14, 2019

If you’re reading this, you’re likely aware of why someone buys gold. It can be a hedge against inflation, a portfolio diversifier, and a store of wealth.

However, you might not be aware of the ways to buy gold. Should you buy gold online or in a store? Should you buy a gold coin or a bar? Should you go with digital gold or physical gold? As America’s Gold Authority®, U.S. Money Reserve is here to explain all of the different ways you can buy gold so you can make the right choice for your financial future.

1. Pick a place.

The shopping experience in the U.S. has changed dramatically in recent years, and shopping for gold is no exception.

First off, there’s the most traditional approach: heading to a shop that sells gold. About 49 percent of Americans still prefer heading into an actual store to make purchases, notes Entrepreneur. In a brick-and-mortar store, you can see and feel the gold and talk with a local person who’s familiar with precious metals.

Then there’s one of the newer shopping methods: purchasing gold online. In general, 51 percent of Americans prefer e-commerce, reports Entrepreneur, and a more significant portion of millennials (67 percent) prefer shopping online over offline. Shopping online provides the comfort of placing your order from home and the ease of placing your order on your computer. If needed, you can still consult with a professional who’s knowledgeable about gold.

You can also pick up the phone and order gold. Typically, this enables you to chat with an experienced professional who’s a gold specialist and can help you learn more about the gold products you’re interested in purchasing. You may also have access to special pricing or inventory when you order over the phone.

As long as you’ve done your research (so you know the gold is real) and you’re comfortable with your decision, there’s no wrong choice when it comes to where you buy gold.

2. Choose a type.

Never before have there been so many options for taking advantage of the benefits of gold. The option you choose will align with your asset-building strategy and level of comfort.

Physical Gold

Physical gold comes in the form of gold coins and bars. These can be stored at home or in a bank’s safe deposit box or a high-tech storage facility. The biggest benefit to buying physical gold is that you’re buying a hard asset—unlike ETFs, futures, and stocks—that isn’t subject to the whims of economic uncertainty.

Gold ETF

Through a gold ETF (exchange-traded fund), you can gain access to physical gold without needing to store or insure it. Generally speaking, a gold ETF tracks the price of gold. Keep in mind, though, that a gold ETF can be a victim of the whims of the stock market. Market volatility is one of the hidden risks of buying gold ETFs.

Gold Futures

Gold futures involve signing a contract to buy a set amount of gold at a fixed price sometime in the future. So if you enter a contract to purchase gold at $1,500 per ounce, but the price of gold rises to $1,600 when it’s time to buy, you’ve essentially gained $100 per ounce. But if your contract spells out a price of $1,500 per ounce, and the price falls to $1,400 when it’s time to buy, you’re out $100 per ounce.

Gold Mining Stocks

As of August 2019, precious metals website Kitco.com listed 123 stocks of companies involved in gold mining. Buying stock in gold mining operations allows someone to benefit from physical gold without actually owning it. However, these stocks can easily be swept up in the volatility of the markets.

3. Select a method.

Your method of buying gold is a matter of preference.

Regardless of whether you’re considering physical gold, gold ETFs, gold futures, or gold mining stocks, you can dip your toe into the gold market, or you can dive right in. For instance, you might want to buy one gold bar or coin at a time and spread out your purchases, or you might want to buy 30 gold bars or coins all at once.

The pace of your gold purchases depends not only on the amount of money you’re ready to spend, but also on how comfortable you are with a go-slow vs. go-fast approach.

Of all the ways to buy gold, there’s one that’s right for you. Let’s talk through it. Call 1-844-307-1589 today for a one-on-one consultation with an experienced Account Executive.

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