In precarious economic times, buying precious metals is booming. Precious metals include gold, silver, platinum and palladium. The investor is protected against inflation, the profit derived from buying precious metals is often considerable.
In addition, gold, silver and Co are among the safe investments. But the price of precious metals can fluctuate greatly! Buying precious metals also has certain disadvantages: Physical gold, for example, must be purchased and stored securely – there are corresponding fees for a safe. The investor should buy precious metals from a specialist dealer, online or offline. To buy online is even cheaper, because the store is usually omitted and the distribution channel is shipping.
- Specialized dealers sell precious metals with expertise and customer service, and their terms are often more favorable than the bank.
- Some specialty dealers adjust the price to the metal’s current rate, while others leave it longer.
- One advantage of dealers is that they have many sales contacts and can buy at a low price.
Pricing and storage of precious metals
When buying precious metals should definitely be issued an invoice, reputable dealers do this without being asked. This serves as proof of authenticity and origin of the precious metal. Before buying precious metals, the price of the metal should be closely followed on the Internet. Also online, the investor should view offers from various dealers and compare them. In doing so, the relationship between the precious metal and the purchase price should be closely scrutinized in order to make price comparisons. After buying precious metals should be invested in secure storage and insurance, for example, against theft or fire.
Buying precious metals – but which ones?
On the question of whether to invest more in silver or gold, it can be said that it depends on the mix. In terms of monetary value, it is best to invest 50:50 each in gold and silver. Buy bars or coins? The advantage of buying bars is that the investor can get a better purchase price – but in the case of sale, he will probably receive only the equivalent value of the material. Coins are usually more expensive to purchase – but they have a high potential for appreciation. An ounce of silver can often be sold for around 1000 euros. There are investment and collector coins. Classic bullion coins include the Maple Leaf, Vienna Philharmonic, Libertad, Krugerrand, American Eagle and Britannia. They are minted in unlimited editions. Collector coins, on the other hand, are limited. In any case, it should be invested in well-known coins because of the easier sale possibility, because they are more popular.
Anonymity and tax aspects
When purchasing precious metals from a local dealer, the investor can anonymously exchange goods for cash without disclosing personal data. However, this is only legally possible up to an amount of 15000 euros. For sums beyond 15000 euros, in some countries the dealer has the obligation to record and also store buyer data.