Things to consider before You Purchase Gold
When deciding to invest in gold, there are many pitfalls you might want to avoid. This article guides you
through the four most common gold investing mistakes.
Not having a plan
Every investment requires a solid plan. You should know your goals like your shoe and invest only in
stuff that will bring you closer to your wanted outcome. In other words, if you fail to plan, you're
planning to fail!
Buying numismatic Coins instead of bullion
Once you decided to invest in gold, do not believe that numismatic coins have the same value as gold
bullion. A numismatic coin obtains its value not only from its low gold content, but also from its rarity
and collectability of that certain coin. It is very hard to judge the purity of such a coin. In order to avoid
the risk of it containing high levels of copper, and other non-precious metals, focus on standard gold
Buying from several dealers
Lots of new investors all make the mistake of buying gold bullion from multiple bullion dealers. Not only
is it harder and time-consuming to buy from many dealers at once, but you will also pay several different
prices. Simply avoid this pitfall by buying in bulk from one dealer only. This will really limit the expenses
and thus lowering your overall costs due to the improved rate you will receive in the end.
You have to take action
Taking action is likely the most important step in the entire investment process. However, if it is so
simple, why don't we just do it then?
The simple answer to the above is fear. Fear is by far the biggest obstacle that holds you back. On the
other hand, fear is what keeps us alive and makes us stay away from dangers.
Laszlo Forgacs M. D. developed his interest in precious metals. Until recently Gold has been an area the
average investor would consider, but that has changed and suddenly there are so many opportunities
out there to profit from gold and silver.