Investing in gold is a good choice especially to diversify your portfolio. This is also known as a safe haven asset so it will help stabilise your wealth in times of economic crisis. There are many companies you can buy gold bullion from and there are certain factors to consider before selecting such as company.
It is very important to consider the reputation of the company.
Look for a well-established company that has been operating in the industry for a long time such as Morris and Watson gold bullion. You can check customer reviews and testimonials to get a good idea of the reliability of the company. Go to the official website of the company and check whether they are accredited by certain industry organisations that hold a reputation for professionalism and ethical business practice. You will also need to evaluate the authenticity of gold bullion which can be verified by the authentication certifications. Check the reputation of the mint if you are buying minted bars or coins. To further get an idea of the purity of gold bullion, you can obtain an independent verification. You can ask the company whether they will allow for third party verification services.
There has to be transparency in the pricing structure
So that you are not subjected to unexpected charges. To get an idea of the cost of gold bullion, make it a habit to monitor current spot price in the global market. You may also be required to pay a premium so you will be paying more than the spot price. The premium includes the distribution and production cost for gold bullion along with company profit. This premium will vary when it comes to different companies so you can compare this by asking for the price from different companies. There may also be a shipping cost included. Ask the company about any sales taxes or duties that are applicable to the sale. You need to understand the final cost before you select a company to buy gold bullion.
Ask about different payment methods offered
By the companies and the fees associated with these methods. You need to make sure that your investment is protected during shipping. So you have to ask the company about the shipping method used and whether this is traceable. Ask how you will be updated about the progress of shipping. It is also important to have insurance coverage so that you are protected against damage or loss of gold during shipping. Ask the company about how they verify safe receipt of the gold bullion. Sometimes delays in shipping can affect your investment strategy so you need to ask the estimated delivery time. Once you purchase the gold bullion, you need to find a way to store it safely. If you are storing it at home, you need to use proper security measures. While you will be able to immediately access the gold bullion, it may put your security at risk in the event of theft. Then there is safety deposit boxes offered at banks along with storage services offered by specialised bullion storage companies.