Building your personal wealth often means investing in diverse assets. One of the assets you may be thinking of adding to your portfolio is gold. Gold has a long history of use as currency, and the value of gold has remained stable over time. It is these characteristics that help to make gold a sound investment.
You have a few options available to you when purchasing gold as an investment. Two of the most common are gold bars and gold coins. Coins can be tempting, but bars are often the wiser investment.
1. Gold Bars Are Less Expensive
If you are purchasing gold as an investment, you want to minimize the amount of money you spend on your gold. Opting for gold bars instead of gold coins can help you keep costs low.
Coins are often more expensive than bars because of the intricate designs that adorn the surface of each coin. The added machining and manufacturing expense is passed on to the buyer, and you will pay more for the same volume of gold when purchasing coins versus bars.
2. Gold Bars Are Easy to Store
Physical storage is always a concern when you are investing in a tangible asset. You will want to be able to keep your gold investment safe and secure, so finding adequate storage is essential.
Gold bars take up much less space than the same number of ounces in coins. This will make it easier to utilize a smaller safe or safety deposit box to house your gold investment over time.
3. Gold Bars Are Diverse
Coins come in relatively few shapes and sizes. Gold bars are much more diverse. They come in almost any weight imaginable. This diversity allows you to customize your investment. You can choose to invest in larger bars if you are looking for low premiums and plan to maintain ownership of the gold for a long period of time.
Smaller bars are better suited to investors who are looking to test the effectiveness of gold investing and may be looking for potential buyers to sell some of their gold in the near future. The diversity in size also allows gold bars to be purchased by investors who fall into any number of wealth brackets.
Investing in gold can be a great way to diversify your portfolio. Consider the benefits you will enjoy when you purchase gold bars, then begin amassing your gold collection today. For more information, contact a company like Investor Crate.