In an economy marked by instability, buying gold coins can provide a physical, tangible asset that also acts as a hedge against market fluctuations.
And contrary to popular belief, gold is not an investment only the wealthy can make. In fact, you can start by purchasing one gold coin and make your way from there.
You might, however, wonder how to buy gold coins in the UK. Atkinsons Bullion shares that the process, in fact, is quite simple, although you need to arm yourself with information about when and where to get the most value for your investment.
Do not be deceived by rare coins.
Stick to bullion coins, the most common of which are the Sovereigns and the Britannias. Rare coins are collector’s items and are prized not for their value in gold but for other factors, such as their rarity and condition. If you don’t plan on collecting gold coins for the thrill of it, put your money down on bullion coins.
Start with the Royal Mint.
For absolute beginners, the Royal Mint has an online service that allows you to purchase gold coins by piece and have it delivered to your house via insured mail. There is also the option to have your gold stored in the Royal Mint’s vaults for a certain fee.
Check out cost-effective alternatives.
Believe it or not, buying direct doesn’t always mean you get the most out of your investment. You can buy gold coins from online or local dealers at a fraction of the original cost. The key to buying from elsewhere other than the Royal Mint, however, is to make sure you are buying from a reputable seller.
Choose the best dealer.
Whatever dealer you choose, it is important that they have a buyback policy that allows you to sell your gold back to them. You also want to buy from a dealer that is educational in its approach, instead of being a hard sell. Reputable dealers always do their best to educate their customers, especially the first-timers.
The most important thing you need to remember is to buy gold coins only from trustworthy, reliable dealers. These dealers are authorised by the Royal Mint to sell only high-quality coins, and so you never run the risk of being duped by them.