If you want to spend money on physical gold at the lowest possible price per ounce, there is nothing better than gold bars. Coins might be more attractive to look at but the packaging and manufacturing comes at a special price. Gold bars are taken to be the stalwart of the industry. This is something that central banks and average investors buy and store. Thus, nothing can go wrong when you purchase gold bars.
Why Purchase Gold?
Gold is not used as the currency at present. However, its role as money will make it superior to any currency. One of the important promises of money is that it serves as long as the long-term store value. Gold will fulfill this promise much better than any kind of fiat currency.
When you purchase gold bars, you will be able to hold it in your hand. This is something that you will not be able to do with other investment. Keep in mind that real gold cannot be destroyed with water, fire, or even time. Gold is pretty tangible, highly liquid, and finite. You can easily convert gold to cash and go with it anywhere you like. Physical gold is considered to be one of the best forms of long-term wealth preservation. It is also best for your heirs as it will outlast any kind of currency which they might use in future.
Benefits of Purchasing Gold Bars
You will be able to get more ounces for your money when you purchase gold bars than coins.
The primary reason that an investor look for gold bar is that they are pretty less expensive than the gold coins. Premiums tend to be lower since the coins have an intricate design and thus, involves less machining and labor costs. Coins might be prettier but you will have to pay extra money for that appealing look. A gold bar will take up less space than the same amount of coins. As a matter of fact, bars have been designed for easy storage.
Buying gold bars will not compromise any of the core advantages of gold. They are private, portable, and liquid. Hence, it is going to last forever.
Choose the Best Gold Bar Size for You
Buy the one-ounce gold bars for meeting the future needs as they come up. In case, they have net worth, you should buy both large and small bars. Once of the first decisions that you need to make while buying purchase gold bars is what size do you have to purchase. They are as small as one gram and as big as 400 ounces. However, this doesn’t mean that you have the buy the heaviest bars that you can afford.Big bars will not offer the divisibility but smaller ones will do. When you sell multiple small bars for exchanging the right amount of gold for the right amount of currency you need.
Fewer prospective buyers. Not many buyers will purchase gold bars, 100 ounce gold bars. If you have smaller sized gold bars, you will have a greater pool of customers.
Low amount of counterfeit risk. Counterfeiter likes to buy big bars because they are worth a lot.
The advantage of buying bigger gold bars is that the premium is going to be smaller.