Interested in some Precious Metal Investing Tips? Here are 6 to get you started.
1. Make A Precious Metal Investing Plan
Consider making a proper plan before you buy any gold or silver. A wise investor is unlikely to pour all their money into the first set of coins or bars they come across. Do some thorough research. If you’re a true beginner, getting in touch with a friendly bullion dealer like Bleyer is always a good place to start.
2. Be Certain About What You’re Buying
There are different forms of precious metals. Numismatic coins have a very different level of value compared to bullion. While bullion is valued according to its weight, purity and the price of the metal – numismatic coins are priced by their weight, but also rarity and their collectors’ value. For example, a rare Spanish piece-of-eight and a buffalo gold coin may weigh the same, but the piece-of-eight could be worth one hundred times more. Be very wary of Ebay.
Read 'Investing in Gold, Options and Products' here.
3. Know Your Precious Metals
We sell Gold, Silver, Platinum, Palladium and Rhodium.
Gold has traditionally been seen as an excellent “store of wealth”. Silver, Platinum and Palladium all have industrial as well as investment uses. For example Silver is used in renewable energy production, including solar.
Take a look at our Precious Metal Beginners Guide for more information about each of the metals.
4. Diversify Your Portfolio
Precious metal investment can be a great hedge against inflation and the global unpredictability of financial markets. By adding precious metals to your portfolio, you’re diversifying your risk should stocks, shares, bonds and property underperform.
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5. Be A Trend Spotter
Before you buy, monitor the spot price which is based on the Bid/Ask Price. Understand that while gold’s value is mostly shaped by supply and demand, it also has a connection to other economic forces.
Historically, gold prices have risen as the stock market has fallen. Investors generally hurry to put their money into material-backed, safe-haven investments as they fear the markets are in a downturn.
Once you start getting the hang of market trends, economic forces, what’s happened in financial history, you’ll have a good understanding of how things can work.
6. Invest A Little, Often
If you take the last 20 years, precious metal prices, particularly gold, have risen.
Some investors prefer to invest by buying smaller amounts of metals at regular time intervals. Some invest with the mentality that its money that you won’t need for five years, ten or even twenty years. Committing to purchasing a small amount every few weeks will help you grow your portfolio over time and get you the average cost price.
Purchase the assets of your choice and begin tracking your precious metal investments consistently. Consider using tracking software tools to continually analyse the changes in the value of your metals.
Invest with Bleyer
Our friendly award-winning Bleyer customer service team is always on hand to assist you. If you’d like to talk to a specialist on the phone and have a free 1-2-1 consultation, please call the office on 01769 618618. We’d love to hear from you.
