If you want to make money from precious metals investments, gold is one of the best choices in the world. You have a couple of options on the table when it comes to selecting the best ways to invest. Some people prefer to put their capital in gold coins, whereas others prefer gold bars. In this article, we’re going to draw your attention towards some of the pros of each solution. Hopefully, this information will set the record straight and ensure you make the right investment decisions this year.
The benefits of investing in gold coins
Gold coins are a fantastic option for investors because the items are considered legal tender. That means owners can cash-in their investment at any time in a range of different ways, and as an added benefit British gold coins like sovereigns and Britannia are capital gains tax free! Coins come with a face value, and there is always information about purity and weight printed on the item. Apart from being collectable, gold coins are a brilliant investment for the following reasons:
● Coins come in a plethora of different varieties and designs. That means you can get something that not only holds its value, but that is also aesthetically pleasing. Many coin owners decide to display their collections at home and use them as a focal point.
● Coins tend to contain less gold than bars, and so investors don’t have to spend quite as much money as they would with the alternative solution.
● Coins are often limited edition, and so their value can increase far beyond the rise in base metal prices. Rare coins will always become more valuable than mass-produced items.
The benefits of investing in gold bars
Most gold bars weigh between one and ten ounces, which makes them much larger than the average gold coin. They tend to come from private mints in the slab shape we’ve all come to recognise. While gold bars are not legal tender, they are easy to store, and the items tend to increase in value quickly due to their size. Investing in gold bars is a wise move because:
● Storage never becomes an issue. It’s easy to stack gold bars and store them almost anywhere. However, due to the value of the items, most investors choose to keep their bars in safe deposit boxes.
● Most gold bars are 24-carat, and so investors don’t have to worry about lower purities. Still, if anyone has concerns, there are methods for testing the gold that will show exactly how clean and pure it is.