For most people beginning to look into investing in gold, these are three vital questions you should ask yourself.
1. What reasons should I invest in gold for?
2. When is a good time to invest?
3. Most of all, where should I invest if I choose to?
There are so many options out there these days. With new cryptocurrencies and investment platforms being created every day, it can be overwhelming, to say the least! So with a world of opportunity, how do we find what is right for us?
This article will give you the top 9 reasons to invest, broken into three sections answering each of these questions directly.
Here are the Top 9 Reasons to Invest in Gold.
Is it wise to invest in gold?
1. The value of gold has been proven over the years.
Do you know gold is one of the oldest currencies around? In fact, its use has been traced back 40,000 years to paleolithic caves. Mankind first started investing in gold over 6000 years ago. It is the oldest currency still in use! It is also considered one of the safest long-term investments. Many people invest in gold to pass wealth onto the next generations. Which ties into the next reason.
2. Gold is a tangible asset. It can’t be hacked, erased or lost.
One of the greatest benefits of gold compared to its digital counterparts, is that it is unhackable. It can't be erased or lost to the virtual underbelly. It also can’t be destroyed by fire, water or time. This is one reason why it is likely to continue to outlast any other form of currency.
3. It can’t go bankrupt or become valueless.
While gold prices fluctuate, its value as a currency has remained timeless. It is also free of counterparty risk. Meaning that is not likely to go missing, bankrupt or valueless anytime soon. Leaving it the last man standing.
Is it a good time to invest?
4. Gold is the most reliable way to diversify your wealth in times of crises.
It is common knowledge that during periods of crises, like when the stock market crashed, people flock to gold. Increasing its price rapidly. Why? Because when the dollar is losing its value or purchasing power, gold remains for the most part unaffected. A lot of the time gaining huge value because of the influx of investors. So it has since been known as a safe haven for wealth during times of economic or financial crisis. Meaning that the best time to buy gold is before you need it.
5. Gold is one of the rare investments that can be a private or anonymous asset.
We have all heard the story of the Grandpa who filled his mattress with gold. But did he live a peaceful life sleeping on his fortune? When we buy physical gold, we have a unique back up if our income suddenly declines, or if our bank accounts ever happened to get suspended or frozen. Which surprisingly isn’t as uncommon as you may think. During times of economic or financial crisis, governments tend to overreach. With gold, we have a way of keeping our wealth private and safeguarded.
6. It is a reliable form of currency, outlasting its competitors for hundreds of years. When we ask the question, when is it a good time to invest in gold, it is worth looking at its performance history. Over the years, it has proven to be one of the most valuable investments to safeguard and diversify our wealth. Golds reliability is what sets it apart from its modern-day counterparts. Making it one of the safest investments to choose year after year.
Where should I invest in gold?
7. There are several different ways of investing in gold.
One of the big known risks is people investing in gold, is those you buy in exchange for a certificate or ETF. A lot of the time these gold sellers do not have the amount of gold they claim to own. So it is highly worthwhile to find somewhere that sells physical gold. This helps avoid the counterparty risk.
8. Don’t be left broke with fools gold.
There is such a thing as counterfeit gold. Fake gold, fools gold, and imitations are known to occasionally flow through different marketplaces. That’s why there is all the more reason to make sure you are buying from a secure and reliable source! It is always worthwhile to background check sites and look at any relevant reviews before you buy.
9. The Mineral Exchange is a reliable and trusted party.
They sell a variety of rare vintage bullions, jewelry, and gemstones for collectors and buyers alike. That means you can buy physical, trusted gold, silver, gems and other precious metals at good prices, all in the one place!