Buying Gold Bars - Everything You Must Know (Beginner's Guide)

now if you're looking to buy some gold you won't go wrong by getting a shiny gold bar buying gold is going to be one of the most important and fun investments you can ever make and i want to start you out with all the information you need so you don't make any big expensive mistakes now in this video you'll learn everything about investing into physical gold where to buy them and how to get your very first gold bar with confidence i'm sean and in this channel we cover everything gold and silver so if you want to learn more about investing in precious metals be sure to subscribe let's get started so the first thing you need to know is what to buy there are many different types of go bars in the market and many different brands out there and it's easy to get confused if it's your first time investing into gold now the best way to start is to go for the most popular gold bars from the world's biggest brands what i have here are three of the most popular gold bars around and that means it's going to be easy to buy them and sell them off when the time comes and when you buy a go bar you are paying for investment grade gold and you are buying them purely for the gold content that they carry now all of these bars that you see here they are 99.99 pure gold or 24 karat which is the standard purity of any good investment grade gold bar now this 50 gram gold bar comes from the perth mint in australia and it's one of the most popular bars you can get that comes with a government guarantee right and this gobar contains 50 grams of gold which is a great way to cost effectively stack the precious metal without really venturing into bigger bar territory that would start costing some serious money now unlike most gold bars that are shiny the perf means bus they kind of have a matte look to it which i personally love now next up we have the one ounce credit suisse gold bar now this bar is minted by a commercial bank in switzerland and there are many swiss banks such as ubs as well who also manufacture and sell their own branded gold and if you're in europe this is going to be a popular option that you can easily get your hands on and it's important to note that you should only go for gold bars that are 99.99 pure gold because most countries remove any vat tax from them and it's always good to say 5 10 or even 15 of the top now if there's one gold bar that can be found virtually anywhere it will have to be the pam swiss gold bar now this beautiful bar is so popular that you can hear to dubai singapore london and the united states and you can see them on the shelves of every good boolean store that sells gold you can even find the pam go at mostly any international airport such as dubai or singapore that sells gold as well now because it is so recognizable you'll really be able to get a higher buyback value if you decide to sell it back to dealer now pam first started minting their gold bars in 1979 and many gold investors that i know they kind of hold nothing but pen bars because it's such a trusted brand with a rich history i can't really fault them for it now the second thing you need to know is how much a go bar will cost you and what you'll be paying for so the price of gold will be different every single day and it's because of two main factors the first is the spot price of gold which is the value of gold that's being traded around the world at this very moment so you can come in one day and see the price of gold perhaps at around eighteen hundred dollars and come back another day and it might have reason to 1850. now it's important to note that the gold spot price is always quoted per try ounce which is equivalent to around 31.1 grams and it's a measurement that originated in roman times that somehow we still use today now the second factor is the physical premium which is a markup cost that you have to pay on your gold bar so this go bar you see here contains exactly one troy ounce of gold which contains around 1800 of value but you will likely have to pay around 1900 for it and that's because of the physical premium which is essentially the cause of refining and shaping the raw goal into a bar that you can hold and invest in now certain bars such as the pemba might have a higher premium due to its popularity but if you ask me goal is go and from time to time i go for the bar with the lowest premium to simply stack more grams of gold now you might be wondering are coins a better alternative to gold bars and it really depends when we are talking about gold coins we normally mean government minted bullion coins such as the american gold eagle over here and the canadian gold maple and the premiums on these coins are usually higher because they have a more intricate design on them compared to a bar and they are actually legal tender with a dollar value on them but i wouldn't spend this gold eagle for its face value of 50 dollars at the corner store now one big advantage gold bars have is that the premiums can go even lower now what we have seen so far are minted gold bars but if you decide to go for cars bars like this car's bar over here you can save even more now cars bars are bars where gold is poured into a mold and it's just left to cool it's a much simpler process and it costs less to manufacture and while it might not look like the prettiest bar you can actually save an additional one to two percent on the premium if you want to be highly practical about it moving on to number three so how big of a go bar should you get now the great thing about go bars is that it can go as big or as small as one the standard size for gobar is the one ounce bar and it goes all the way up to 50 grams 100 grams and even a kilo bar and the great thing about going bigger is that you get to save more on the premiums but it'll be a much costlier purchase overall and it's really something to think about if you decide to go smaller there are gold bars that are 10 grams 5 grams and even 1 gram bar that you can consider but be one the smaller you go the higher premium you have to pay and if you go small enough such as the one gram bar you might actually be facing premiums of 30 which is easily six times more compared to the standard one ounce bar and i personally do get five and 10 gram bar but i tend to use them more as jewelry pendants to wear than to actually stack but you might actually prefer these smaller bars especially if you plan to buy them as gifts for family and friends during the holiday season so now that you know the basics where do you shop for these gold bars now there are three places you want to go and one place to really avoid the first place is your local coin shop or boolean dealer right you can easily find them by simply typing go boolean dealer new york or wherever you are at now once you find a few places the best research you can do is directly to give them a call and ask them if they sell the go bar that you want for example you can simply ask hey do you have the one ounce pam swiss go buy in stock and if they say yes then simply ask cool how much do you charge for one they'll give you a price which is normally the spot price plus the premium on top of it so take this price and really shop around and see which dealer gives you the best rate now the second place is an online boolean dealer and this includes websites such as appmax and sd boolean and normally dr prices are slightly more expensive but that's to be expected because they have a wider range of gold bars to choose from and you have to pay shipping as well now the great thing about online dealers is that from time to time they do have seasonal and clearance sales which i absolutely love this allows you to save quite a bit on lower premiums and i highly recommend checking both your local dealer and the online ones to see which can give you the best price now lastly there are some banks such as td bank in canada and uob bank in singapore that sells gold directly now the good thing about buying from a bank is that everything is standardized and their prices more or less are transparent like the online dealers now the only issue is sometimes you need to create a bank account first and transact using it you might not be able to use cash to buy your metals directly now the place you want to avoid when buying gold bars are droolers now have nothing against jurors but the thing about buying gold from them is that every gold item they sell even if it's boolean bars normally comes with a big markup and they are taxed right they do have vat tax or gst tax slapped onto it so even if you might be buying the same gold bar from a juror compared to a bullion dealer you will be subjected to tax on top of it so unless you are buying gold jewelry to wear i would really still clear away from these stores now let's talk a little bit about security because gold is so valuable there have been many attempts to create a fake go bar but most of the time it's going to be shorty work that you can spot immediately now either the design of the bar is going to be somewhat off or the bar is going to be bigger as usual so all the bars here you see they are all genuine gold bars and the thing is that when there's a gobar that's fake you can really see it going to be a bit bigger than usual because gold is really dense and most fakes are simply gold-plated steel or copper and that is why i don't really go buying beyond 100 gram bar as it gets really risky when you start buying kilo bars now while fake gold bars are rather rare sometimes it kind of pays to just get a bit more protection right so there are many gold bars like uh the metal global over here that has a qr code either on the packaging or for this bar the qr code as you can see is on the bar itself and when you scan it using your smartphone you can verify the serial number of the bar and where it came from pretty handy if you ask me now another type of protection and one that i really really like is the kindergarten protection printed on the back of certain gold bars for example this argor bar over here has a kidney gram on the back right when i turn it around you can see a very beautiful refracted light pattern on it and it's essentially a hologram on the back of the bar that reflects light into a beautiful pattern now it's going to be almost impossible to fix such a bar and that is something that you might want to consider but it does cost more around twenty dollars for one ounce gold bar so it's not really always cost effective so when it comes to buying your first goba i really recommend getting the one ounce standard coba you'll be able to get a low premium and at two days prices at around eighteen hundred dollars an ounce it is still an achievable goal and really something to work towards even if you're on a budget and best of all you can easily sell it off without much hassle whether it's to a bullen dealer or another third-party investor so there you have it guys i hope this guide will help get you started on buying your very first gold bar with confidence now there are a lot more details that i've covered in other videos on my channel that you can check out so what type of gobar is your favorite will you be going for one ounce bar or are you going to be swinging for the fences with a big 100 gram block if you have any questions let me know in the comments below i do take time to reply every single one and if you enjoyed today's video be sure to smash the like button and subscribe for more gold and silver videos thank you guys for watching and i'll see you soon

Channel: Sean Foo

Views: 799,644

Keywords: physical gold investment, how to buy gold bars, buying gold bar, buying your first gold bar, physical gold, gold investment, gold bars, investing in gold bars, buying physical gold, gold bar vs gold coin, why to buy gold bars, best gold bars to buy for investment, are gold bars a good investment, where to buy gold bars, shopping for gold bars, should I buy gold bars, best way to invest in gold, stacking gold bars, stacking physical gold, stacking gold

Id: SzhTf0Be96U

Length: 12min 32sec (752 seconds)

Published: Wed Dec 22 2021