How to buy gold in 5 easy steps
If you’re buying gold for the first time or feel that you need guidance on the best options available, then you can always call our expert team. We’ll talk you through how to buy gold and discuss the choices available. If you’re ready to buy online, then just follow the steps below to make your first purchase through PhysicalGold.com.
Why buy gold?
Gold is an excellent investment choice when it comes to protecting your wealth and diversifying the risk spectrum of your portfolio in times of uncertainty. It is important to understand the behaviour of gold in the marketplace before actually buying the precious metal. The price of gold is defined by spot prices, which are set by the COMEX exchange in New York. The spot price reflects the international price of gold in USD per ounce.
Of course, this price is impacted by rising and falling demand for the metal. The international prices of gold tend to fall when interest rates rise. This is because rising interest rates offer investors other avenues of investment with better returns and this creates a drop-in demand. The UK has had its longest-ever spell of reduced interest rates since the global financial crisis in 2008. From here on, economists expect the Bank of England to slowly start elevating interest rates once again. Although an interest rate hike is likely to be small, it could start the trend for rates to increase steadily and this is likely to affect the price of gold.
How to Buy Gold Infographic
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Gold also reacts to political and macro-economic pressures
Usually, during times of political uncertainty, gold rises. This is due to the fact that investors want to mitigate their risks by investing away from the global stock markets, and the demand for gold rises as they turn to gold. Currently, the uncertainty surrounding the ongoing Brexit saga still remains. The world is watching the Korean peninsula with caution. Political uncertainty in this region is likely to affect Seoul, which is a global financial centre and at risk, due to its geographical proximity with its northern neighbour. Yet another factor of concern for global investors is the rising threat of global terrorism. American foreign policy followed by the Donald Trump administration is likely to impact the stability of different global regions, particularly the Middle East.
All of this may have an important effect on financial markets. If the markets react unfavourably, then investors would ditch the capital markets in order to protect their investments. The price of gold would then rise, along with rising demand for the metal. For a first-time investor, all this can be very daunting. It is important, therefore, to first understand the behaviour of gold in the market and all the drivers that contribute to its market price. Only then can one make an educated purchase, having fully weighed the pros and cons of gold investing. Physicalgold.com has a great array of articles, knowledge bases and tools for you to study before making that all-important decision to go out there and buy gold, including gold ETFs. In this article, we cover 5 important steps for you to follow when buying gold.
Even if you’re not yet ready to purchase, you can sign up for a free PhysicalGold.com account. We’ll provide you with expert tips and updates on how to buy gold, to keep you informed of market movements, special offers and relevant insights. Just click on the ‘register’ button, or log in to the site if you’re a returning user. Please visit our blog and insights section on the website, which is aimed at providing customers with valuable information on buying precious metals. The information is presented to readers in a simple manner, with very little financial jargon, so you can easily understand the steps and use this knowledge to your advantage when buying gold and silver. Of course, if you need help, please contact us and a member of our advisory team can offer great practical guidance on buying gold.
Physical Gold offers four different types of product categories: Pension Gold, Tax-Free Gold, VAT-Free Silver and a Monthly Saver. To buy gold or silver, simply select the product category you require.
Advice and guidance are available on each category page, including simple videos to help you to make your decision. Or you can always speak to us directly for one-to-one guidance.
We use different suppliers for the different product categories, enabling your purchase to be tax efficient and our prices low. To buy from multiple product categories, please complete your transaction for one product type before purchasing from another category. Then, just repeat steps two to five!
Add the quantity of your chosen category to your basket. You’re almost the proud owner of some beautiful precious metal.
We accept bank transfer or several types of debit and credit card. Simply input your payment and address details, as you would with any other online transaction. PhysicalGold.com uses the 3D secure payment method, giving you extra protection and peace of mind.
If you’ve chosen to take delivery of your metals at your address, we’ll send them to you using fast, secure and discreet delivery. Let us know what you think when your coins or bars arrive! We’ll send you a review request and if you’re happy to leave your thoughts we’ll give you a discount code for future purchases! Making buying gold in the UK even cheaper.
If you’ve chosen to use our secure storage facility then we’ll send you storage documentation proving your legal ownership and detailing your gold’s insured segregated storage at our accredited vault. Learn more about our secure storage option here.
Buy Gold UK
Buying gold in the UK may seem like a daunting process for first-time buyers, but adding some gold to your portfolio is as easy as doing your regular online shopping.
Because of our market credibility and purchasing power, we’re able to secure gold for you directly at a great price and, if required, store it for you as well. This is particularly the case when you buy in bulk. And our BNTA accreditation means you don’t need to worry about the quality of our gold (as you might at a high street merchant). We trade investment-grade gold only and even provide you with a certificate to prove it! And because we value our clients, you can always call us if you need that extra bit of guidance on any gold purchase.
Learn more by watching, “Gold coins – collecting as a hobby and for profit”Shop Tax Free Gold
Shop Tax Free Gold
So, as you can see, buying gold from PhysicalGold.com, really couldn’t be easier. Just register for an account, select the type (e.g. bullion or coins (e.g. gold Sovereigns)) and quantity of gold you require, pay, and your gold will be delivered to your door or held in our secure vault.
If you need further help or any clarity along the way, then you can always call us on 020 7060 9992 or email us. We pride ourselves on providing a personal service to our clients, so if you have any questions about gold investment, all you need to do is get in touch.
It’s best to buy gold bars from a specialist bullion dealer. Avoid buying privately as authenticity could be a problem. Buying gold bars from a dealer can either be carried out online or over the phone. For transactions over £10k, identification will be required. When buying smaller gold bars, credit and debit cards are generally accepted, while online banking can be used for larger purchases. Most gold brokers will deliver your gold bar to your home address and insure the transit.
Please see our detailed answer to this question by clicking this link.
It’s actually most prudent to own a mix of both gold and silver. Gold is a more established safe haven asset, so tends to gain more from market downturns and volatility. Silver can also perform well in these circumstances but also benefits when industrial demand for silver increases as it’s used so widely in electronics. While silver certainly has more opportunity for huge growth, gold is the steadier of the two.
If you’re wondering how to buy a gold ETF, then it’s actually really easy. Firstly open a brokerage account with an online investment platform like Fidelity or Hargreaves Lansdown, ensuring their suite of funds includes gold ETFs. An execution-only account will be cheaper if you don’t require advice. The account can be funded with a debit card or with online banking, with purchases and sales executed online. Fees are usually based on a percentage of transaction size but can be a fixed annual fee for larger investors.
There are 2 main safety considerations when buying gold and silver. Firstly, it’s a risk to ensure the gold and silver are authentic, of a high quality and priced correctly. Buying gold and silver from a reputable precious metals dealer will safeguard against this. Next, there’s a risk that you could be targeted for robbery if you take possession of the gold or silver. Either opting for insured delivery to your home or professional vaulting services will protect from this.
Please visit https://www.physicalgold.com/insights/how-to-buy-gold-bars/ to read our detailed article on this topic.
There are several options to buy gold as an investment. If you’re seeking to actively trade the gold market, then spread betting is one option. Buying a Gold ETF provides online access and economic spreads to buy and sell regularly. If stock markets are attractive, then the Blackrock Gold fund is popular, or if you’re prepared for higher risk, investing in gold mining stocks is an option. For those motivated by safety and protection, buying gold coins and bars is the best investment choice.
Firstly find a trustworthy gold dealer. They should have been around for a long time, have a large number of customer reviews and offer good customer service. Next, you can simply set up an online account with that gold company and add gold coins or bars to your basket. Payment options are varied and usually include an array of card up to £5,000 in value and bank transfer for larger sums. Paypal and American Express are rarely offered due to tight margins in the industry. Good gold dealers may be able to offer advice as to which gold to buy to meet your objectives.
If you’re looking to buy gold coins and bars, the best places to buy are from specialist gold merchants. A list of approved gold dealers can be found on the British Numismatic Trade Association website. They will be trustworthy to charge fair prices and ensure all products are authentic and of high quality. If you’d prefer to buy in person, then certain area specialises in selling gold. In London, Hatton Garden features many stores in the same street, so prices can be easily compared. In the Midlands, the Jewellery Quarter also possesses several options. Just be aware that choice may be limited when compared to specialist online gold brokers.
You shouldn’t assume that you need to buy gold and silver from the same place. Some specialist precious metals dealers offer better prices and options for one metal than another. Try to find a gold dealer who can offer advice on which gold and silver to buy. Most silver websites charge VAT on silver, but one or two are able to sell without the tax, saving you 20%. Ensure that dealers have a track record and offer a buyback guarantee. Place your order online or over the phone and make payment. Old and silver will be delivered to your door or stored for you in a specialist warehouse.
There are a few simple steps to buying and selling gold online. Firstly, talk to an experienced gold broker. They will be able to offer guidance as to which gold will best suit your objectives. Next, you’ll need to decide if you want to buy the gold as a lump sum investment, in regular monthly savings, or as part of your pension. Then, decide if you want the gold delivered to you or stored in vaults. Finally, place the order online with the dealer and make a payment with either card or bank transfer.
Gold coins can be bought from a variety of sources, each with their merits. It’s possible that common gold coins such as the odd Sovereign can be found in your local jewellers, however, the condition may not be great and they’ll have very limited quantity and variety. Buying gold coins from auctions is another method, especially if you’re seeking collectors coins. For price transparency, authenticity, choice and ease of buying, a reputable online gold dealer is the favoured choice.
The ideal time to buy gold is when the price is low. This will enable you to obtain more gold for your money and hopefully sell your gold in the future at a higher price. But with gold’s vital role as portfolio protection against market downturns, waiting to buy gold can be a mistake. This is because it’s impossible to know exactly when the next market crash will occur. It’s best to own gold 6mths or 3 years before the crash than one day afterwards.
The choice of UK gold dealers has increased steadily over the past decade. There is a basic set of do’s and don’ts when buying gold which needs to be stuck to, so you avoid buying the wrong type of gold at the wrong price. Some of these online brokers have years of experience and can offer guidance on how to buy gold. Once decided, purchasing is simply via their online portal with insured delivery being as soon as the next day.
Clearly, buying gold in a price dip gives you a stronger chance than buying gold when it’s on the rise. A profit is more attainable when holding gold over the medium to long term rather than trying to turn a quick profit. Buying UK bullion coins such as Britannias and Sovereigns will allow a lower purchase price than buying proof coins in presentation boxes, which provides more scope for profits. These coins are in high demand so obtaining a profitable sale price is more realistic.
Gold and silver bullion commonly refers to bars rather than bullion finish coins. Precious metals merchants generally buy and sell both metals so it’s possible to buy gold and silver from the same place. Check out the companies track record and reviews before placing an order online. It may be worth calling them first to check their customer service. Some dealers will be able to offer silver bullion VAT free which will save 20% from the price. Larger bullion will be better value, but divisibility should also be a consideration.
Avoid online sites such as eBay and Craig’s list. Buying from these risks paying over the odds and even worse buying gold which isn’t genuine. The best bet is to search for trustworthy online gold dealers in Google. Results will bring a number of options. Only consider sites which provide transparent up to the minute pricing. Research each dealer for track record and reviews and ensure they will buy back your gold. Then it’s down to price.
If you’re seeking to buy gold and silver as an investment, then it’s best to stick to well-known UK coins. These have the advantage of being Capital Gains Tax free, but also offer flexibility to sell small parts of your holding. These can be sourced through online precious metals dealers, at auction or from areas specialising in precious metals. Hatton garden in London features dozens of shops sells gold and silver bars and coins. However, the choice of coins may be limited. The Jewellery Quarter in Birmingham offers similar services.
Two elements will help you buy gold and make money. First is timing. Only buy gold for the medium to long term as markets can go down as well as up in the short term. Buying when the price is low provides more profit potential than when it’s risen for the past 6 months. Secondly, buy the right type of gold. Appointing a reputable gold broker will help you obtain the best prices and be guided to buy the right type of coins. Buying UK Sovereigns is great value and any money you make is tax free.
Depending on your objectives and investment amount, you’re usually best buying physical gold and silver coins as opposed to bars. These can be bout online from specialist precious metals dealers. Check out BNTA.net for reliable brokers. Buying more coins at once will provide quantity discounts while maintaining divisibility. UK coins are free from Capital Gains Tax.