Finances & Money

The 4 Major Types Of Gold Bullion

Unlike other investments, when you buy gold bullion, you’re buying an investment that you can hold in your hands. These days, most investments are little more than numbers on a screen, but real gold bullion is delivered straight to your door. That means you need to decide how you want it to arrive, and you have a lot of options in terms of the quantity and form that your gold will come in.

Buy Gold In Higher Quantities To Save

Besides paying the “spot” price of gold (it’s value on the market), you also have to pay for dealer premiums, since you can’t buy directly from the mint, and for the manufacturing of the type of gold. Since it costs money to make coins, bars, wafers, and rounds, the cost of buying ten 1/10 ounce gold bars or coins will be higher than if you bought a single, 1 ounce gold coin or bar. Another factor to keep in mind is how precious metals are weighed – typically gold and silver are sold by the troy ounce, equal to 31.1 grams, versus the usual ounce, which is equal to 28.3 grams

There are other ways to save on gold through gold dealers such as Silver Gold Bull, including daily specials such as opportunities to pay at spot price. Gold dealers may also offer discounts depending on your method of payment, as they tend to prefer money order, cheque, online Interac or e-transfer, and cryptocurrencies like Bitcoin over credit. Every dollar you save purchasing gold helps increase your return on investment, so be sure to check out Silvergoldbull.ca on a regular basis for special offers.

Once you decide on how much gold you’re going to buy, you should know what form you want it in.

Bars – One of the more common forms of gold, bars can come in a number of sizes. The first thing you think of is probably a hefty 1 kg bar that could buy you a BMW, but they’re also available in 1 oz, 10 oz, 1 gram, and 100 gram sizes from gold dealers like Silver Gold Bull. A 1 oz gold bar from the Royal Canadian Mint is a thin rectangle with the mint, weight, and purity stamped on the surface.

Coins – Bullion coins come in a variety of weights and sizes, including 1/10 oz, ¼ oz, ½ oz, and 1 oz. They’re stamped with a design by the mint and they are minted by national governments, which distinguishes them from rounds.

Rounds – Rounds do not have to be minted by a national government, but are usually stamped with a beautiful design and they’re commonly traded.

Wafers – A gold wafer is about the size of a credit card, and it can be broken apart into 1 gram pieces. It’s used for all types of precious metals as well, and designed to allow you to conduct transactions with bullion.

When you’re buying gold online, you want to work with a gold dealer that can answer all your questions promptly and honestly. Understand what you’re getting before you confirm your payment and start by learning about the different types of gold.

 

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Susan Paige

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