- Starting Right
- Setting Objectives
- Online Resources
- Gold as Insurance, Asset Management and Savings
- Bars or Ingots
- Placing Your Order
Where can I find a good gold firm?
- You will want to find a firm that has a good track record and accreditations from reputable organizations such as the Better Business Bureau and the Business Consumer Alliance. Look for a gold firm that has been in business for a solid amount of time. In addition, look for a firm that offers an information-based website that reflects their understanding of what you will need to know as a purchaser of gold. In other words, choose a firm that shows genuine interest in keeping you informed.
Where can I purchase gold?
- This depends on the type of gold you wish to buy. If you are looking for a small-scale, minimum-risk purchase then gold coins and bars of all sizes can be purchased through government mints or online and via phone from gold coin dealers such as TG Precious Metals. Bullion, a bulk-quantity of gold coins or bars and which are assessed by weight, can be purchased through major banks and gold dealers.
How much does gold cost?
- The price of gold varies. Per ounce, kilo and gram, based on market conditions and product.
- Bear in mind that the cost of the gold itself is not the only factor in the price of premium, collectible, or ‘numismatic’ coins. For these types of coin, history, esthetic appeal, rarity, condition and ‘grade’ will tend to be much more important.
Why should I purchase gold?
- Gold can be a sensible purchase to protect and enhance the performance of an active portfolio. There are a number of reasons why gold makes sense including: 1) Protecting against the insidious effects of the dollar’s declining purchasing power, 2) Reducing portfolio volatility and 3) Minimizing losses during periods of market shock.
- In addition, gold lacks correlation with other assets so it can be used to diversify a portfolio and to hedge against currency risk. Gold is best seen as a long-term, historically proven purchase that offers tremendous benefits to those who understand and who are willing to consider the issues involved.
What is the biggest mistake that first-time gold buyers make?
- The biggest mistake that most first-time gold buyers make is seeking advice from the wrong people or purchasing through the wrong firm. This can be avoided by doing research on which company you choose to consult and, ultimately, purchase with.
Who should I speak with before buying gold?
- Seek out advice from people who have been in business for a good, long time, who are in it for the long haul and whose information can be trusted. Conduct research on the people whom you’re considering seeking advice from and follow-up your discussions with additional research to verify the information. If you are interested in learning more about your buying options, you can contact us directly at 1-888-474-3785.
What types of gold exist?
- There are a number of different types of gold which are all available to purchase – you'll want to base your purchasing decision on what your objectives are. There are ETF's, future contracts, gold mining stocks, gold certificates and mutual funds, but our customers prefer to buy physical gold - gold bars and coins - both bullion and premium formats, as well as other physical forms of precious metals
What types of gold should I buy?
- This depends on your reasons for being interested in buying gold in the first place. Many people start with the thought that gold bars make most sense, but the really big ‘good delivery’ bars that they’ve seen in the movies are beyond most people’s reach, and beyond most organizations other than central banks. It’s worth considering that coins first came into being as a way of certifying provenance and therefore value. Even today it’s easier to sell a coin than the equivalent bar, whose gold content can be an unknown quantity to the buyer.
When should I buy gold?
- This depends on your level of interest in gold, and the reasons that you've come up with that explain why you would like to purchase gold in the first place. The short answer is: right now. If you've decided that you need and are going to purchase gold, then there is no real reason to delay your purchase. Understand that gold does not act the same way as a traditional stock or real estate; your purchase cannot be based on expectations that its price may quickly adjust in your favor.
How much money should I spend on gold?
- Many financial advisers say buyers should aim to have between 5%-15% of their portfolios in precious metals, with 25% being the highest level that most would consider, though of course, individual circumstances and preferences will vary.
Where can I find more information on buying gold?
- There are a number of online resources that can help you better understand gold and what it means to be an owner including Bloomberg.com, Forbes.com, Money Week, The FTC Consumer Information on Gold, among others. Tap into the information these websites offer to become knowledgeable and understanding of gold as a purchase.
What are some of the risks associated with buying gold?
- Buying gold does have some risks that need to be understood by any purchaser. Your biggest risk is, of course, losing money, and depending on what type of gold you purchase, whether coins or an ETF, you are at greater risk if you fail to set personal objectives and/or lose sight of them. The price of gold is subject to movement – down as well as up – because of the uncertain nature of the global economy and the workings of supply and demand in the US and overseas, both for investment grade gold and for jewelry. For premium coins the prices are subject to related but separate issues of supply and demand affecting this specialist field. There are no guarantees with the purchase of gold; the decision to make any given purchase comes down to your own best judgment.
How can I protect myself from these risks?
- You can protect yourself by staying informed from the onset of your purchase. First understand why you would like to purchase gold, set personal objectives, and stick to them. The right type of gold can be purchased for the wrong reason, and the wrong type of gold for the right reason, so it's important to have a clear understanding of what each type of gold is purchased for. You may also speak with a TG Precious Metals representative – no commitment - to help you figure out what type of gold is best to accomplish your goals.
What are the main benefits of purchasing gold?
- Gold is acquired for many different reasons. If you are a first-time buyer, then consider the amount of gold you wish to purchase and how diversified your portfolio currently is. A diversified portfolio can secure wealth in the long run and even a small purchase of gold can help. Additionally, gold can help you hedge financial uncertainty because gold does not depend on a third party's ability to pay, which is the case with other capital assets such as bonds or bank savings. Gold is also a great way to protect wealth for future generations.
Will buying gold make me wealthy?
- Not necessarily. You should not expect gold to make you wealthy. The reasons for buying gold are different from other goods because it is used more as a means of protection against financial uncertainty rather than a means to accumulate rapid wealth. One of the main reasons people buy gold is to protect their retirement funds against inflation.
Frequently Asked Questions on Buying Gold
Gold as Insurance, Asset Management and Savings
How can gold be used as insurance?
- Gold can be purchased as a means to protect yourself, and your money, against a financial downturn, and/or a crisis. A purchase of gold as insurance is also a purchase made for the long-term. Meaning, use gold for its ability to survive small corrections. You may experience losses, but you should not assume that your gold becomes worthless as a result of them – gold has been a trusted store of wealth for thousands of years
What is the best way to save gold?
The best way to save gold is to buy it and not sell it. Many first-time buyers will make the mistake of selling gold if the market is performing poorly; however, a purchase in gold can only benefit those looking for a way to protect their savings if it is held on to during times when the price dips.
Who or what determines the price of gold?
- The price of gold is determined by the supply (the amount at which all holders of gold are selling) and the demand (the amount which buyers are making their purchase). When trading opens, the supply and demand of gold converge on a market-clearing price. There are a multitude of factors that influence the price of gold such as global money supply and inflation, though it does not tend to react to temporary disruptions of physical supply.
What are gold coins?
- You could think of gold coins as the way in which sovereign states give their endorsement to a physical commodity. Without coins gold would only be available in the form of bars, and no one but the maker or seller knows the gold content of a bar, unless they weigh and analyze it.
- Coins take the uncertainty out of buying gold. Apart from relatively rare incidences of counterfeiting, a coin is what it purports to be. An additional level of certainty is supplied by the independent, professional grading companies who will assess the nature and quality of a coin, from which its value can be derived, and then seal the coin in a tamper-proof container that preserves its condition indefinitely.
- Among the most popular bullion coins are the American Eagle and Canadian Maple Leaf gold coins which have slightly higher gold purity compared to their counterparts (Australian Kangaroo coin, etc.), and are the easiest to buy and sell.
How much do they cost?
- Prices of gold bullion coins tend to fluctuate with movements in the price of gold, which can happen unexpectedly and often. Premium coins’ prices may be influenced by the price of their gold content, but they also have a value derived from their rarity, condition or history, and they are cushioned against movements in the spot price of gold. In general, they are not meant to be traded.
Where can I buy gold coins?
- Gold coins can be purchased through government mints, or online or via phone through specialized gold dealers like TG Precious Metals. Contact us or call 702-415-1170 today to learn more.
Bars or Ingots
What are gold bars?
- Gold bars are perhaps the most basic form of gold a purchaser has the option of buying. Bars are favored by traders and short-term investors, particularly bars containing 32.15 ounces and above, which are beyond the means of most people. The thing to remember is that if you spend money on a single bar, you cannot sell back only a part of it as you can with coins.
Should I buy gold bars?
- This depends on what your objectives are. If you're looking for a tangible, small-scale purchase then gold bars are a good option, but you need to recognize that the value of what you buy will fluctuate with the spot price of gold. Be sure that you arrange a means to store the gold that you purchase either with a safe at home or with a bank that has a vault. Aim to purchase one-ounce gold bars as they have lower premiums than their counterparts.
What is the difference between gold bars and ingots?
- An ingot is a type of gold bar produced by casting molten gold in an ingot-shaped mold. By contrast, bars are rolled, cut, then any distinguishing marks are pressed into their surface. This method is commonly used for heavier bars.
Placing Your Order
How do I place an order with TG Precious Metals?
- Just call us at 1-702-415-1170 and our Representatives will be happy to help you.
Can I talk to someone in your office for advice in buying gold?
- Certainly. Our representatives are here to answer your questions and assist with placing your orders. Call us at 1-702-415-1170 from Mondays to Fridays between 10AM and 10PM PST. If you are new to buying gold, everyone you speak with is more than qualified to walk you through the buying process vis-à-vis your goals and questions.
Why does the site say "Call for Price?" Why can't I order online?
- Due to market fluctuations, beyond movements in spot price, values of premium products go up and down throughout the day. Speaking with a representative will help ensure you get the most up-to-date and best pricing.
What are the popular sizes for gold and silver purchases?
- The most popular size for gold and silver coins is 1 oz for bullion and often smaller for premium coins because purchasers are not buying for the metal content alone, but are considering their "numismatic value". The ‘ounces’ quoted in relation to gold are usually ‘Troy’ ounces. 1 Troy Oz. is the standard weight at which gold is sold in the international market, and it equals 31.1035 grams.
Is gold or silver the best choice?
- This is a matter of individual preference - only you can decide what's right for you.
- Many people are attracted to silver because it has a lower price per ounce - it’s seen as a great, low-cost way to get started in precious metals. There are many attractive silver coins available, both historic and modern, and TG Precious Metals is a leading source of those coins.
- On the other hand, gold has attracted buyers since the earliest days of civilization – it has served as a trusted store of wealth and a hedge against inflation. As well as recently minted coins, TG Precious Metals offers gold coins that have great beauty and historic significance, as well as the intrinsic value of their metal content.
How long does it take to ship my orders?
- Shipping time takes about 14-20 business days. This is faster than most of our competitors’ shipping times – they can take up to 30-45 days.
What happens if I don’t receive my orders?
- Call our customer service number 1-702-415-1170 and/or email us immediately so we can attempt to locate you package.