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Understanding the terms spot and premium is essential to gold investing. The spot price is the price at which gold trades and the premium is the trade fee or cost over spot prices. Tracking spot prices and obtaining gold with the lowest premium ensures the best investment practices for precious metals.
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Gold bars are a popular investment choice primarily because they offer the highest purity and carry lower premiums than gold bullion coins. For example, premiums on kilo gold bars can be as much as $50 per ounce lower than the premium on American Gold Eagles gold coins. Gold bars come in various weights, including 1-oz, 10-oz, kilo, and 100-gram bars. All are .9999 fine (99.99 pure).
Gold bars are a truly exciting way to invest in gold. Hefting a sizeable gleaming gold bar causes an adrenalin rush. Invariably, people holding large gold bars for the first time ask, “How can something so small be so heavy?” A vast amount of wealth can be stored and concealed in gold bars.
Gold coins or rounds are great for investing in gold with smaller buy-in options. When considering bullion coins, there are two types choose from: rounds and government-minted coins. Gold bullion rounds are produced by private refineries, and gold coins are produced by national mints. Rounds will typically have lower premiums than minted coins. However, widely recognized coins such as the American Gold Eagle and the South African Krugerrand are highly valued by investors for their authenticity, liquidity, and beautiful designs. When investing in gold coins, it is essential to choose bullion options to get the lowest premiums possible.
Gold coins are available in various weights, ranging from fractional coins (e.g., 1/10 of an ounce) to standard one-ounce coins, providing flexibility with storage and portability.
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