Gold is considered by many to be a secure investment because it is in high demand, it is a limited commodity and it rarely drops significantly in value. Although you can purchase gold and store it in a safe at home, you run the risk of losing the precious metal due to theft. It is far safer to buy gold certificates from a local bank. These certificates are documents stating that you own a specific amount of gold, even though you do not have the gold in your possession.
Monitor the prices at which gold is trading. Gold prices are listed daily in your local paper and on financial websites.
Stop by your local bank when gold values have dropped. Ask your bank if it provides gold trading. Larger banks often offer this option, but smaller banks or credit unions typically do not handle these sorts of investments. If your bank does not offer gold certificates, the manager may be able to direct you to a nearby bank that does.
Request the amount of gold you want to purchase. You can do this in either ounces or in dollars.
Pay for the gold certificates. If you pay with a check and you are not a customer of the bank, the gold certificates are considered void until your check clears. That means that if the price of gold suddenly changes dramatically, you may not yet be able to sell your gold certificates. Typically it takes a few days for your check to clear. Once this occurs, you are free to do with the gold certificates as you wish.
There are many gold certificate scams on the Internet. Be sure to investigate any company before investing your hard-earned money with them.
- There are many gold certificate scams on the Internet. Be sure to investigate any company before investing your hard-earned money with them.
Greyson Ferguson is a graduate of the Savannah College of Art and Design with a degree in film and television. He currently resides in Lansing, Michigan where he works on independent film projects and writes for numerous publications. Ferguson primarily focuses on computer and electronic articles. Greyson produces TheDailyUpbeat.com, focusing on only upbeat news stories with daily updates.