Tip For Buying Gold
With gold reaching a 25 year high, more and more people are taking interest in this precious metal. If you are considering adding some of it to your investment portfolio, Yaser Anwar - who writes Equity Investment Ideas - has this to say about the best way to invest in gold:
While it's fine to buy and hold gold coins and bars in the U.S., there is another way that many people don't know about - the Perth Mint Certificate Program (PMCP). Here's how it works:
You buy your gold from a trusted dealer, and have it put in storage at the Perth Mint in Australia. You then receive a certificate that shows title to the gold held on your behalf.
The PMCP is the world's only government-guaranteed program. It's so secure that it's permitted into self-directed individual retirement accounts (IRAs). And there's no storage fee for unallocated (unsegregated) gold. In fact, the Perth Mint has provided safe storage of the metal since 1899.
In short, the PMCP is the safest and most practical way to invest in gold.
This is an alternative worth considering if you're thinking about purchasing of a large amount of gold bullion.
You can get more information about this program from the Perth Mint.
For more information on investing in gold and precious metals, check out The Gold Stock Blog right here on the Seeking Alpha Network.
Comments
Isn't it much easier just to buy one of the two exchange-traded gold funds -- GLD or IAU?
It is much easier to buy the ETFs, but some people would like the "government guranteed" aspect & the physical gold itself.
It's just an alternative.
I have difficulty imagining someone who'd trust the government but still want the gold itself. After all, isn't the whole point of buying gold that one hedges against irresponsible government behavior?