From the ancient times to the present day, gold is always known as the sign of wealth and prosperity. The gold currencies are not the standard currencies today, but many choose to store sizeable portions of their liquid assets in this scarce resource.
The UK abandoned the gold standard in 1931, indicating you could no longer exchange your paper money for the physical gold. But it also means that you could make money from purchasing gold for the first time. But how are you going to invest money in the gold?
- Buying physical gold bars and gold coins
Gold bars, doubloons, gold sovereigns, pieces of eight or even sequins (A type of gold coin) can be bought and stored. You can also try the gold vending machines – where you put in a card or cash to buy gold. By this gold investment, you can purchase the British gold coin while avoiding the tax on any money you make when you trade them. Gold bars or ingots and coins are the most popular ways to purchase physical gold.
- Online bullion dealers
Online gold dealers are a far cheaper way to purchase gold, if you’re not worried about actually having the gold in your hands, Your gold is safely held in guarded vaults and can be easily purchased and sold in whatever quantity.
“But this system has some downsides like the dealers charge storage including the insurance premiums. Though this charges are quite low but still that could hurt smaller holdings.” – said a spokesperson from RPS Gold
- Gold Tracking Funds
If you only care about the price of gold, and not bothered about directly owning it, then you can invest in gold through trackers. These are purchased and sold in a similar system to shares, can be held in an ISA, and many are even upheld with the actual gold. It’s less than a third of the rate to hold compared to most online gold brokers.
The RPS Conclusion
Physically holding the gold means no fees for holding it, and actual ownership with no other organisation between you and your gold.
“Today’s gold investments can be used as a hedge against financial disaster, that may help you save you from many unfortunate events in the future.” RPS Gold adds.
