How Can I Buy Gold Bullion Coins: A Step by Step Guide To Making A Purchase

How Can I Buy Gold Bullion Coins: A Step by Step Guide To Making A Purchase

Are you tired of seeing poor stock performance eat into your retirement savings?

Would you like to cushion your retirement funds from the constant turmoil of the stock market?

While there’s no denying what gold can do for your portfolio, the process of actually purchasing bullion coins is one that’s often shrouded in mystery. Hence why questions like “How can I buy gold bullion coins?” have a tendency to come up so often.

Fortunately for investors, making these coins a part of your portfolio isn’t particularly difficult. All it takes is the right combination of due diligence and savvy research. Here’s your step by step guide to finding and buying gold bullion coins.

1. Know Why You’re Investing in Gold Bullion Coins

Although the primary reason to make gold a featured part of your portfolio is to stabilize it, there are other reasons why an investor might purchase gold bullion coins. In order to figure out which coins are best for your investment strategy, however, it helps to know what your primary and secondary motives are for buying. Is collecting a possibility? Are you planning to hedge at all costs after all? Will you be targeting specific coins in hope that their value appreciates?

These are questions you’ll want to answer beforehand.

2. Have a General Idea of What Coins You’re Interested In

Knowing the reasons why you’re purchasing gold bullion coins can help you fine-tune your investment strategy. Are you thoroughly opposed to melting your coins in the future? Do you have a soft spot for historical coins? How important is durability to you? Are domestic bullion coins more attractive to you or would you rather go international and diversify?

3. Pick a Funding Method

How will you be paying for your coins? The day you place an order isn’t the time to be hemming and hawing over your choice of funding. As a general rule, you can fund your gold investment with a 401K rollover. This is a common means of paying for gold investments and many reputable dealers like Regal Assets IRA offer assistance when it comes to the mechanics of rollovers. At the same time, however, you can also opt to contribute to your IRA annually. The choice is yours.

4. Start Window Shopping for Dealers

Many would-be gold investors see an advertisement, research the benefits of gold bullion coins, and go with the company that’s promoting itself aggressively right away. While there’s nothing wrong with gold firms that want to put themselves in front of people, the onus is on you to do your due diligence. Don’t sign up with the first company you find and call it a day. Explore the possibilities and take time to evaluate each dealer you come across. A careful evaluation of each and every firm you come across allows you to make an informed decision.

5. Work on Your Precious Metals Dealer Short List

After you’ve put together a substantial list of gold dealers to choose from, you can gradually start crossing names off of your list. Did you find the company reps aggressive, evasive, or generally difficult to talk to? Rude customer service is always a liability and if you’re unable to get clear answers from people, there could be other problems at work beneath the surface.

Does the dealer carry the type of gold bullion coins you want? If you’ve got your heart set on the Canadian Gold Maple Leaf for its .9999 gold composition, a .999 replacement coin may not be enough.

How does the company fit into your long-term plans? If your strategy is to eventually purchase more coins, can your dealer accommodate your needs?

6. Get to Know Your Account Manager

So you’ve done some serious thinking and you’ve picked your precious metals dealer. This is the phase where things go from abstract ideas to tangible actions. Since you’re the account owner, you’re not allowed to make purchases for your portfolio without an account manager. This is a potentially long-term professional relationship as you pursue gold investing more thoroughly. As such you’ll want to make sure that your account manager is someone you can love and respect.

8. Purchase Your Coins

Okay. You’ve consulted your account administrator. You’ve narrowed down your tastes. You’re finally ready to take the plunge. This is the moment of truth for anyone who has ever asked themselves the question “Where can I buy gold bullion coins?”

All you do at this stage is ask your account manager to place an order for gold bullion coins. What do you do after that? Well, you wait for the delivery to come through. Usually the delivery will arrive two business weeks later or so.

9. Store Your Coins in a Safe Place

Your job isn’t done just because you’ve received the coins and things are going well. You still need to keep your gold bullion coins in safe storage. Not just to protect the coins from theft, but also because some of these coins are tougher than others. What determines the viability of keeping your coins in a home safe is your insurance company. As an individual investor, you might not be able to insure all of your gold. For this reason, you’ll want to keep depositories and bank deposit boxes in mind.

As you can see, investing in gold isn’t a question of “How can I buy gold bullion coins?”