Physical investment grade gold, also known as gold bars, can be purchased at the spot price, which is the price of unmanufactured gold plus additional costs, which vary by seller. Physical gold can be liquidated in the unlikely event of a total economic collapse. Louis Palafoutas, a Morgan Gold bullion trader who has spent three decades in the gold industry, says that while some buyers choose to keep gold in a safe in their homes, others ask that accounts be created at Brink's or Delaware Depository, where Comex and the Internal Revenue Service keep their gold. For example, gold bullion coins, such as American Eagles, which are federally guaranteed, have inherent liquidity because they are bought and sold by coin traders, banks and merchants without a doubt, Clark says.
When considering storing gold in a deposit, Clark says investors should always ask if their investment is staying on or off the holding company's balance sheet. Finally, investors must ensure that their metals are in an account or sub-account titled in their name, so that, in the event of a company going bankrupt, their records will show who owns what. Turks says a clear advantage of using professional storage is independent third-party audits, which confirm essential details and come with unlimited online access. Clark also points out that investors can receive their gold at any time.
Precious metal can be delivered in an armored vehicle or shipped overnight. In addition, Clark says, gold can be listed as collateral for receiving a loan, which avoids the tax consequences of selling the commodity. Multi-redundant security systems also make reservoirs an extremely safe option, he says. If you want to buy gold, you don't have to convert your dressing room into a small Fort Knox.
In fact, the only storage you may need is an investment account. No, there are no restrictions on private gold ownership in the United States. You're only limited by your budget and common sense. The easiest way to buy gold is through an app called Vaulted (full Vaulted review here).
Vaulted is an application run by McAlvany Financial Group and International Collectors Associates (abbreviated name is McAlvany ICA) based in Colorado. The app allows you to buy fractional gold that is then stored in the Royal Canadian Mint. By buying it fractionally, you don't have to buy it by coin (which is expensive per ounce) or wait until you can buy an ounce (which is expensive, period). When you get up to an ounce, you can request delivery for a small fee.
You can buy physical gold at retailers such as JM Bullion and APMEX, as well as pawn and jewelry stores.