The main reason these days for buying gold overseas is to store it overseas. Back in 1933, during the Roosevelt administration, an executive order was issued ordering all citizens of the United States to turn their gold in to the government–without reimbursement. Many people fear, in this era of a collapsing U.S. economy and the plummeting value of the U.S. dollar, that history could repeat itself. But if you purchase and store your gold overseas, this is one way to protect your assets.
Search online for overseas gold dealers such as Bullionvault.com. This company in particular allows you to select one of their overseas vaults to store the gold that you buy from them. Make a list of several potential gold dealers and write down all of their contact info.
Call each company and get the name of your contact person. Find out from the contact how many years they’ve been in the business, the cost of gold per troy ounce, their buy back policy, return policy and payment procedures.
Do an Internet search seeking out customer reviews about this company. Type in the word “reviews” and then the name of the company.
Ask friends and family who make overseas investments what company they would recommend for buying gold.
Make a small purchase to start to see how your transaction with your selected company goes before making larger purchases.
You can also purchase metal certificates from your overseas gold dealer, also known as foldable gold. These are easy to store, transport and redeem for real gold or cash.
- golden economy image by Alex Fish from Fotolia.com