As the world has seen in recent years, the stock market may not be the best place to put your money. Its fluctuation and potential to crash hard has made many people increasingly wary about putting their money in such a capricious institution. More and more people are investing in more tangible things like real estate — or gold. Diversified investments are always a good idea because it keeps all your money from being in the same place. Savings bonds, gold or silver, savings accounts, and real estate help spread your money around and grow your savings at different rates. Diversified investments help protect your savings from being totally lost, despite any fluctuations in the financial markets.
What Are the Perks of Buying Gold?
Over the years, as currencies have come and gone, gold has remained stable as a valued item. If our currency were to become significantly devalued and you’ve chosen to save a good amount of your money in gold, your savings there would be safe and stable in the amount they’d bring in, should you trade them in for cash. Globally speaking, gold is a good counter measure to constantly unstable global markets, such as China’s or Europe’s. More and more people are seeing the benefits of investing in gold and the price has been steadily going up for the price of buying gold. For one thing, gold tends to increase in value when other types of investments plummet — and given the recent economic crisis, it makes sense that the rate at which people buy gold has gone up. Gold is also a protective measure against inflation. Even the United States has a large amount of gold in stock. On average, it circulates or puts into savings almost $8 trillion worth of gold. And in 2014, the United States mined 211 tons of gold from domestic soil.
Knowing the Various Types of Gold
Interestingly enough, about three quarters of all the gold in use today was extracted no earlier than 1910. If you’re thinking about seriously investing in gold, large amounts like 10 ounces, a kilogram, or 400 ounces of gold can be purchased for lesser fee than the regular price of gold. Generally the heaviest bars you’ll find in a gold shop are of the 10 ounce variety. Buying in bulk can sometimes pay off! You want to get 24 karat gold which is its purest form. Most gold bars are incredibly close to 24 karat gold purity-wise, which makes them a top choice for investors. There are two types of gold bars as well: minted bars and cast bars. Gold cast bars have a lower production cost, and are cheaper to initially buy, but can be unreliable in resalability and quality. Gold mint bars are specially rolled, finished, and impressed with designs. Bullion coins are another form of gold you can own — about 80% of all bullion in America is in American Gold Eagle coins, which also boasts the distinction of being the most traded coin in the whole world!
Do yourself a favor and look into diversified investments, such as gold or silver. It could be worth it in the long run!