Monday, April 10, 2017

How to Buy and Sell Gold?

I definitely see myself becoming a millionaire inside of the next 5 years. I'm not 100% sure exactly how that's going to happen but I know internally that there will be some sort of investing involved; which brings me to today's post. 

As part of my positive affirmation and prosperous thinking exercises, I have been working to train my mind to think wealthy thoughts. Check out my recent blog on the youtube channel VYBO which is really helpful for creating these types of patterns. In my mind, a wealthy person would be thinking about investments, and to me, the current most valuable investments would be gold, the legal marijuana business and real estate. 

I've always been fascinated by gold, I really like wearing gold in the form jewelry. Since I was little I always said I wanted to wear a lot of gold and is something that I've alway associated with being rich and successful, but I want to be smart about how I buy it. My knowledge at this point consists of what I have learned from Youtube videos and my hope is that by writing this first blog about it as a novice I will be inspired to learn more and share the info with you guys. 

Coins are the quickest, fastest way for a beginner to start buying gold. It's easy to buy and sell and to keep. Some of the best ones are the American Gold Eagle, Canadian Gold Maple Leaf and American Gold Buffalo. It's important to note that not all coins are fine gold meaning they aren't 100% gold. Bars and ingots are the next level up and are more concentrated forms of the metal and are of course much more expensive.

First, you are always going to want to be aware of the prices and stay on top of it. I have an app on my phone called "Gold and Silver Price Now" that indicates the price of gold and silver in real time with charts and graphs. So now that you've researched bids and you're ready to buy you need to decide if you're going to buy online or go to a dealer. Be aware that the seller is going to have to make a profit so you'll pay a premium over the market price. 

That's about all I've got so far but I did buy this dope book from amazon called "GOLD: Everything You Need to Know to Buy and Sell Today" It's sort of like a children's picture book with a lot of pockets and pull outs, so it's easy to digest and is definitely a collectors item for a Gold enthusiasts. It's a good overview on how to buy and sell gold and includes a history of gold plus how to avoid counterfeit coins. More to come on the Gold topic, thanks again for reading.

No comments:

Post a Comment