Long considered to be a safe investment, gold is a way of protecting your financial future. Experts advise that investors diversify their portfolios by investing in the metal. Every home will have gold, either in bars or coins. gold bars can now be purchased online. Before buying gold bars, the purchaser must take into consideration the following. The following are the factors to consider:
- Know your seller. You should always verify the authenticity of any seller you purchase gold from. It may seem that the internet is the place to go to get great deals. However, this isn’t true for gold. You should only buy from trusted websites. Gold may not be best purchased from discount shopping sites.
- Purity of gold: You as a purchaser must make sure that the gold is pure. Gold purity is determined by the karat scale. The higher the karat, the purer the gold. Gold is purest at 24, 22, 18 and 14 karats. Gold that is 24 karats has very few impurities and each part of it becomes pure. This 24-karat is also the most pure type of gold; it’s 100% pure and ideal for investors. If you are buying gold for personal use, 22-karat is a better option.
- Credibility Most coins have a BIS hallmark and you should request an authenticity certificate before buying. When buying gold bars or coins, you should do the same amount of due diligence as when purchasing jewellery.
- Always get the invoice. Be sure to always get the invoice. A bill is useful not just in return and trade situations but also to confirm the weight and purity of your purchase compared with the claims and promises made by the retailer. A bill is a good way to ensure the transparency and legitimacy of your purchases.
- Taxes Gold bars and coins are taxed at the same rate as jewelry. You must pay the 3% GST when you purchase bars or coins. This money cannot be refunded when selling your bars or coins.
- The packaging must be perfect: This is important when making online transactions. As soon as the package arrives, please inspect it. The packaging should appear undamaged and be sealed completely. If you are even slightly unsure about the packaging, don’t accept it. Check the shipping charges before you make any purchases. It’s important to check shipping costs before making any purchases, even if the majority of online gold sellers provide free delivery.
- Policy on returns: Always check the return policy of an online seller or website before making a gold purchase. The majority of major gold chains have an online shop with policies for return and exchange. Gold has more strict exchange and return restrictions than other online purchases. It is important to read all the conditions and terms before buying. If you plan to upgrade your bar design in the next few years, check what your online retailer will pay for them.
The Cash for Gold Company is one of the leading dealers of gold. The Cash for Gold Company is an internationally recognized gold dealer with a wide range of products from reliable worldwide mints. All of our products have been subjected to rigorous testing and are excellent investments. We also offer items that are well packaged and deliver them to your doorstep. Our sales representatives can assist you if you are unsure of which products would be best for you. Our sales specialists can help you find the right precious metals for your requirements.