For many, an excellent investment has been to buy gold for retirement. Gold has appreciated substantially in the last decade while the dollar has slid, the stock market crashed, and the housing bubble collapsed. Over the long term, gold appreciates while currencies devaluate, and during periods of economic uncertainty gold holds its value and preserves wealth.
The most cost effective place to buy gold is at a professional, experienced gold exchange. Collectors buy individual gold bullion coins through the US Mint but there is a substantial markup unless the investor buys in million dollar lots. Buying bullion through a gold exchange typically costs between 5.5% and 7% above the spot price of gold.
When buying gold for retirement, an alternative to gold bullion is the purchase of rare gold coins. These investments often outperform gold bullion over long periods of time. In order to purchase certified rare gold coins, the investor is well advised to also deal through an exchange well connected in the rare gold coin market.
There are two types of products for those who wish to buy gold for retirement. Gold bullion comes in government minted coins and gold bars. The American Eagle and the American Buffalo gold bullion coins are 99.99% and 99.999% pure gold respectively and are guaranteed by the US government to contain the stated amount of gold. Purchasing in lots of ten ounces will typically qualify the investor a price around 5.5% to 7% over the spot price of gold. Gold bars from Johnson Matthey, Pamp Suisse, and Credit Suisse are internationally recognized sources of gold bullion.
Certified rare gold coins include all United States minted gold pieces from 1795 to 1933. These coins can range in value from under a thousand dollars to over a million depending upon rarity and condition. Both bullion and rare coins offer excellent ways to buy gold for retirement.
John Halloran
Senior Gold Specialist - Buy-Gold.org
