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What to Consider Before You Buy Gold

Check out our gold buyer’s guide online!

Many investment options are available on the market, promoted towards buyers wanting to make valuable long-term investments to secure themselves for the future’s economic uncertainty. Particularly for first-time investors, deciding which precious metal investments to make can be a daunting process. At CMI Gold & Silver, we want to educate our customers, enabling them to make the best investment decisions based on their personal and financial objectives. There are many factors to consider ensuring you invest wisely and ultimately achieve your highest potential return. Individuals choose to invest in gold as it is a conservative and liquid financial investment.

Which Type of Physical Gold?

There are many forms of gold available for investors to buy. Typically, gold in the form of gold alloy coins is a more common choice for investment than gold bars. It doesn’t matter too much whether you choose to buy gold as coins or bars, as long as you buy bullion products. The alternative gold investment option being numismatic/collectible coins. These coins are viewed as a collector’s item rather than primarily a secure commodity for the future. Collectible coins typically contain a lower percentage of pure gold and carry higher mark-ups. Typically, this results in a higher-priced coin for lower gold content.

The Price of Buying Gold

The price of gold products varies depending on the gold spot price at the time of purchase and the dealership’s premium percentage. Premiums are the mark-ups added, usually as a percentage, over the value of the product’s precious metal content. For the best chance of a return on investment in the future, investors aim to buy their gold as close to the spot price as possible. Hence, paying the lowest premiums on the stocks bought. With this being said, taking possession of your gold after you have paid for it is much more important than the price. There is no use in paying a low price if, in fact, you never receive your gold. Therefore, it is necessary to choose the right dealer to buy from to ensure you receive exactly what you pay.

Choosing a Reputable Dealer

Finding a reputable dealer that you trust requires a fair amount of research and comparison between available options. It is valuable to note that not all gold dealers are equal. Unfortunately, the gold industry is not regulated, making it easy for con artists to pose as experienced and reliable brokers. It is worth investing time in selecting an organization recommended and positively reviewed by Better Business Bureau (BBB). A simple visit to the company’s website before committing will allow you to review their business policies and principles. Choose a dealer who can answer questions you have, as well as advise you on investment decisions. It is helpful to be aware of all the transaction charges, as some brokers add heightened fees for their consultant services.

Should I Invest in Gold Coins or Gold Bars?

It is more popular to invest in gold as coins rather than bars. Investors often prefer buying coins, especially in smaller quantities, as they are easier to manage and store. Those wanting to invest in larger quantities may opt for bars, often referred to as ingots.

Buying Gold Coins

There are two categories for those interested in purchasing gold coins: bullion coins and numismatic coins. The fundamental difference between them is how their value is determined. Bullion coins are valued according to their gold content, whereas the price of collector’s coins’ depends on their condition and how rare they are. The premiums on these coins are often much higher than those of bullion coins. Telemarketers who promise fast delivery services and guaranteed buy-back policies heavily market these collector’s coins. They entice buyers with emotional strategies and often divert their attention away from these coins’ high prices. The most often promoted collector’s coin by telemarketers is the old U.S. gold coin.

We recommend only investing in bullion products as a safer option for realizing a return on investment in the future. In times of financial crisis, all gold will liquidate at a price, meaning collector’s coins will hold less value according to their lower level of gold content. We do not recommend investing in gold at high premiums, and bullion coins almost always sell at lower premiums than collector’s coins. Government mints produce bullion coins, which is another reason why investors choose them over collectible coins.
The most well-known bullion coins traded on the market today are Gold Eagle coin produced by the U.S. Mint; Krugerrands by the South African Mint; Gold Maple Leafs by the Royal Canadian Mint; Kangaroos by Australia’s Mint and Philharmonics by the Austrian Mint.

Buying Bullion Bars

Bullion bars are becoming a more popular choice for gold investment, as their premiums for distribution and production costs are significantly lower than those bullion coins carry. Sometimes bullion coins liquidate at a slightly higher price than gold bars; however, the lower premium should be the primary consideration when choosing between bullion coins or bars for investment.

99.99 gold bars available:

  • One-ounce
  • Ten-ounce 2
  • 100-gram (3.215 troy ounces)
  • Kilo (32.15 troy ounces)

For investors wanting to put sizeable sums of money into bullion, kilobars are an excellent choice, as the premiums are the lowest. Usually, the smaller the bar, the higher the premium; however, premiums for 100-gram bars are often less than 10-oz bars. Buying 100-gram or 1-oz gold bars is advisable for investors buying less than 100 ounces of gold, as they offer greater flexibility for liquidation.

The most commonly 1-oz. and 10-oz. bars available are the PAMP bars and the Perth Mint bars. For investors wanting to put gold into IRAs, it’s good to note that 1-oz.,10-oz. and 100-gram bars are eligible.

Popular Gold Bullion Coins

Bullion coins are made almost entirely from refined gold. Pure gold is very soft and suffers excessive wear from handling. For this reason, bullion coins are traditionally alloys, consisting of a small percentage of silver and copper. Bullion coins are viewed as a conservative and secure financial investment. We specialize in trading all popular gold bullion coins and strive to achieve the best prices for our clients.

The 1 oz. American Gold Eagle produced by the U.S. mint is the best-selling gold bullion coins globally. They carry a 4.3% to 5% mark-up over spot (premium). They carry a legal tender value of $50; however, they sell according to the value of their gold content plus premium.

Krugerrands are available to be bought at 1% lower premiums than the G.E.s. Outside of the U.S., these coins have been produced and sold more than any other bullion coin. Although these coins are available in four sizes, the 1-oz. is the most readily available of all denominations and therefore the easiest for resale.
The Canadian Maple Leaf coins, introduced in 1979 are 24-karat gold. The Royal Canadian Mint wants to encourage sales and these coins can usually be purchased at lower premiums than the Gold Eagle coins. The 1 oz. coin is the most popular for sale. Due to the different packaging, investors find handling, counting, and storing smaller Maple Leafs more challenging.

The Perth Mint’s Kangaroos, and Austria’s Philharmonics are other well-known coins commonly traded on the market. The premiums of these coins fluctuate between the premiums on Gold Eagle coins and Krugerrands.

There are also several other types of bullion coins available on the market. Such coins include Mexican 50 Pesos, Hungarian 100 Korona, Austrian 100 Corona Gold Buffalo coins, and Double eagles. Some of these coins are no longer minted but still available to buy on the secondhand market.

How to Buy Gold

There are many ways investors interested in expanding or diversifying their portfolios can purchase gold. Whether it be in the form of shares with organizations involved in gold mining and production, gold securities, gold ETFs (exchange-traded funds), or as physical gold. The latter being the most attractive form for investors wanting to get their hands on tangible gold. Most investors choose this avenue of gold investment because of the security of having the physical metal as assurance rather than relying on digital or paper evidence of stocks’.

The Market for Gold

Investing in the gold market starts with knowing when to buy and what determines the price of gold. Gold is subject to price fluctuations. Before buying, it’s important to evaluate the current and past price trends to establish if it’s a good time to invest. If you are not familiar with the buying and selling prices of gold, we recommend you speak with a consultant who can help you understand gold price trends. In addition to the market price, physical gold also requires insurance and suitable storage facilities. Before purchasing gold, one should make storage arrangements as valuable assets should be stored safely.

Depending on whether you are interested in buying bars or coins and the denominations you prefer, the premiums will be different. Investors should consider the denomination for resale; some are easier to sell on the secondhand market than others. Those who don’t intend to hold their investments for a long time should consider buying coins rather than bars.

Gold Dealer

Those interested in investing in gold can choose whether they will purchase from rare metal dealers, government mints, or private mints. Remember that not all dealers will offer the same variety of products and prices. It is always recommended to search for a trusted and reliable dealer before investing. Depending on who you purchase from, the premiums and the purchasing process are likely to be slightly different.

Some dealers offer investors the option to buy online or over the telephone. When you decide to invest in gold with us, we lock in the price for you even before receiving your payment. Over the telephone, we secure the current price for the quantity and denominations you wish to purchase, after which payment is made the same day. Gold market prices fluctuate, and we want to ensure our customers know the exact price they will pay for their purchase.

Why Choose to Buy Gold From Us

In times of economic and socio-political uncertainty, it’s understandable that investors want stocks or assets that can easily be resold if and when needed. Over time, prices fluctuate, but usually, gold keeps its value more than cash or stocks. Gold is also one of the most liquid assets to invest in. Gold bullion can be sold in almost every country in the world. The liquidity of gold makes it more advisable to invest as financial security than the stock market.

Buying Gold with CMI Gold & Silver

We always advise those interested in purchasing gold to research the company before investing, as it is a significant decision. The internet offers a lot of information through a simple search of how an organization operates. It’s easy to learn about the principles they follow, their history of business dealing, and their reputation in the industry by visiting an organization’s website.

Since 1973 we have been specializing in trading all popular forms of bullion. We are known as the oldest bullion dealer in the U.S. We pride ourselves on our Accredited A+ BBB rating and high standard of customer satisfaction over the years. Investors trust us and continue to choose us as their dealer for gold and other precious metals. We specialize in trading various rare metals, including silver, platinum, palladium coins, and bullion bars. Our services are not only limited to sales and advisory but also include buying back. If you should want to sell your precious metal products at any point, we stand ready to buy back any product we sold to you.

At CMI Gold & Silver, the customers are at the forefront of our business mission; we always try to sell gold at fair premiums, as close to the spot price of gold as possible. All dealings with CMI Gold & Silver are confidential, maintaining clients’ privacy through all transactions. Valuing the individual client, we try our best to inform our customers of their investment options best suited to personal and financial goals. We realize the importance of information and the role it plays in making the right investment decisions. For example, when purchasing coins for IRAs, investors should note that old U.S. coins are not eligible. All coins need to be at least .999 fine gold or American Gold Eagles to be eligible.

Please contact us at 800-528-1380 to speak with one of our advisors about questions you may have. Alternatively, you can visit our website for current precious metal pricing and special deals.

More Information

See our Gold Bullion Prices Page for current prices on the more popular gold bullion coins and bars. See our Gold Specials Page for gold coins and bars at still lower premiums.