Luckily, the world today enables people to invest in various things. While investing in stocks and cryptocurrency is getting more popular these days, it’ll be great not to forget investing in one of the best and longest investments, which is physical gold.
Physical gold can come in many forms, such as a bar, coin, or even jewelry. As you invest in one, you should be very specific about the levels of gold purity as they could help determine its price from buying to selling. While getting fully pure gold would sound nice, it can be relatively more expensive. But don’t worry, as lower purities are still profitable, making them an excellent investment.
Moreover, listed below are the reasons why you should own physical gold:
1. It Can Be An Alternative To Saving Money
Gold is said to be the oldest form of currency. Before there were any paper bills, gold was used as a form of money in which you could purchase anything you wanted. While you don’t necessarily use gold to buy anything today, keeping some would help you have something to pay for in case paper bills aren’t present. This way, you can try to keep up with your lifestyle and be able to pay for any necessities for your entire family.
Furthermore, gold will last long in this world for as long as possible due to its chemical structure. With this, you can use gold to help save money and keep it and wait until the price increases. You can easily convert your cash into gold, keep it in your storage box, and convert it back to cash in the future.
If you’re lucky enough, you could double the amount you pay for the gold, making it a great investment.
2. Gold Is Quick To Purchase And Resell
One of the benefits of having physical gold, besides its measured value, is that they’re easy to purchase and resell. You don’t need to fill up tons of papers to buy your gold. You can quickly drop by any gold store and bring your cash with you. Just ensure that you check its purity as determining it without expertise might be challenging as they can look similar to one another.
As gold is easy to purchase, they’re easy to sell too. There are plenty of pawn shops out there that are willing to buy your gold in exchange for a high amount of money. Nonetheless, to earn a rightful income from it, you might want to wait for a couple of years before selling them back to the market. Ideally, you should wait for at least two years to see a reasonable price increase for your gold. The longer you wait, the higher it’ll get.
3. It’s Easy To Maintain
Buying gold wouldn’t put too much stress on you as you don’t have to do much to keep its condition in perfect shape for as long as possible. While some items could be worth investing in, like bags or paintings, they require extensive maintenance as you need to keep them neat and polished so you can sell them at a much higher tag than how much you’ve purchased them.
Depending on which type of physical gold you’ll purchase, each has the proper maintenance and care guidelines. For your regular gold coins or bars, you can easily keep them in your safety deposit box and allow them to accumulate interest as time passes. But for the gold jewelry you style and wear, you might need to take it down to the jewelry shop for regular cleaning as the chemicals in your body could affect its condition and appearance.
4. Physical Gold Is Said To Be A Tangible And Portable Asset
Unlike stocks and cryptocurrency, physical gold is an investment you can actually see and hold. It’ll help you feel where your money has gone, making you feel like your investment was worth it. There’s also a positive emotion that incorporates touching and owning physical gold rather than making digital investments.
As you purchase physical gold, another benefit it could bring you is that you can easily carry it wherever you go. This will be great emergency money if you lose your money while far away from home and there’s no cash machine nearby. Additionally, you can be more at ease knowing that your gold is safe as you have it with you all the time.
5. It Can Be Passed On To Future Generations
One of the most popular reasons people purchase physical gold is that it could be passed to their future generations, making their lives better if they want to sell it for their benefit. With gold, you don’t have to worry about the paperwork as you can easily give it to your children and grandchildren. It’ll be quick and seamless and allow them to have the extra money if they need it.
Unlike other investments, gold can quickly be transferred to future generations for as long as possible. It can be a new family heirloom, which they could use for special events in their life. Plus, you don’t have to worry about price stability as you can guarantee that it’ll earn more as the years pass. Your gold might be ten times more of its price when it’s time for your grandchildren to sell them.
6. Owning Gold Can Be Done In Private
If you’re investing in stocks and cryptocurrency, you’re letting everyone know that you’ve invested in them. While it might not be an issue, not everyone is comfortable letting people know about where their money is going at. With gold, you can allow your investment to be confident and confidential. Only a few people can learn about your purchase, making it classified.
As you purchase gold, you can be an anonymous buyer. No one has to know that you’ve bought one, making it a great surprise if you plan to give it to someone special one day. Yet you still need to report any gain on your income taxes to prevent any lawsuits and tax problems in the future.
7. The Verdict
There are multiple forms of physical gold that you can purchase. You can either buy them in coins, bars, or jewelry. While going for jewelry allows you to wear them wherever you go, plus being a great fashion accessory, it’ll require some added maintenance to keep them in their best shape. But the benefits it’ll bring to your pockets would be worth it.
Featured Image by istara from Pixabay