How To Buy Physical Gold In Canada: A Guide

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Investing in precious metals such as gold and silver is a great decision for building a smart investment portfolio. Gold specifically is the most preferred type of precious metal considered for use as an investment. But investors often wonder, what are their choices when it comes to investing in gold and how they can buy physical gold.

buy gold online in Canada

If you are looking to buy gold online in Canada, then we have curated steps below to help you in your decision:

Options To Consider While Investing In Gold

Depending on your financial objectives, there are basically three options for investing in Gold:

1. Bullion that includes coins and bars

2. ETF – Exchange Traded Fund

3. Buying stock in gold-producing companies.

Among these options, investing in bullion gold such as coins and bars is the best option believed by the experts.

Here are some of the main reasons why should consider investing in physical gold:

1. Possession of physical gold does not come with any intermediaries to ownership.

2. Having gold in physical form increases its liquidity, meaning you have more access to your investment and could cash it at the time of need.

3. You can sell physical gold almost anywhere, especially if it is in bullion form that you purchased from an LBMA-certified refinery.

4. Lastly, physical gold offers you privacy in your investment portfolio since it doesn’t require to be accounted for by financial institutions, such as banks and even the government.

Basic Steps Of Buying Gold in Canada

There are two ways to buy gold online in Canada, the first is to purchase it from a physical store and the second online from a trusted source.

Regardless of what option you are going with, your priority should be finding a reliable supplier that is offering reasonable and transparent prices, safe delivery of your products, and excellent customer service.

Buyers are now more inclined towards online sources for purchasing their gold since it offers more convenience, honest reviews, and transparency to their prices. There are various credible precious metal suppliers in the market that you can consider for purchasing bullion gold trusted for their services.

After finding a reliable gold dealer online, you can select from a variety of options available for the gold form such as coins, bars, etc. 

buy gold online in Canada

Primer on Different Types of Gold

Choosing the type of gold to invest in is an equally important part of the decision. There are mainly two types of bullion golds, coins, and bars. What you should be investing in, totally depends on your individual needs. 

But coins are a much-preferred option because they are easy to store, and can also be valued based on their rarity. Along with that, they are also easier to sell at a higher price. 

Premiums

Premiums are the additional cost that you need to pay while purchasing gold, above the gold spot price. It is charged on a percentage basis but if you choose to buy gold in bar form, then you can avoid paying the premiums. This because gold bars contain larger unit sizes therefore they are easier to manufacture.

The Bottom Line

Now that you have a clearer insight on how to buy gold online in Canada, you must be interested in taking up this investment opportunity. Make sure you always select credible online sources with years of experience to purchase gold for your own financial sanity. 

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