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Gold equals real money. Unlike other assets like traditional stocks and bonds, even legal tender, which really only represents the value of money, gold can maintain its own value even when an economic downturn occurs. This is why sensible and practical investors pursue gold investing. “Buy gold coins and watch them grow.” People say that buying tangible gold often rewards good investors with promising returns.
Financially speaking, owning tangible gold is similar to owning real estate, only you don’t normally worry about mortgages. Compared to traditional stocks and bonds, the value of gold remains consistently high despite major economic setbacks and it’s all about preserving the integrity of your savings from liabilities brought on by the economic crisis. Nothing does it better than investment. Buy gold coins and save them for a rainy day.
Now that you know the real impact of gold on your steady stream of income, you probably want to know how to use gold to build the foundation of your wealth. If you are someone who is retiring, you can invest using a gold IRA. With this IRA, you can invest in tangible gold like gold coins and bullion. Gold in IRAs can definitely provide you with more security compared to other forms of investment, especially when dealing with financial setbacks that are often related to medical bills, debts, and accrued expenses. When you can no longer work for yourself, the gold in the IRA will serve as your life jacket.
If you want to invest in gold coins, buy gold coins only after you have determined the purity and weight of the gold. This is the amount of actual gold contained in a single coin. Note that gold coins are also made from other metal alloys, so there is no such thing as a pure gold coin. Metal alloys are usually mixed with gold to make the coins stronger. Gold coins for potential investment typically contain at least 22 karat gold.
If you also want to diversify your investment in gold coins, buy gold coins from other countries as well. Some of the American eagle gold coin alternatives would be the Canadian Maple Leaf, Chinese Panda, and Austrian Philharmonic coins. You should also study the specifications of these coins to make them viable for investment.
You must have the intelligence if you want to make an investment in gold. Buy gold coins when they are cheapest and hold them until you can sell them at their highest price. Time is an advantage as the value of the currency increases every year.
Compared to other investment options, gold is not included in the capital gains rate. If someone owns physical gold such as gold bars and coins or gold certificates that are backed by physical gold, the IRS will recognize it more as a collectible than a source of investment.
However, if someone buys bullion and coins, chances are the person who bought them will eventually sell them. Then you need to consider what will happen if he sells his coins. If the coins are sold for less than a year, the money you earn is counted as ordinary income and taxed accordingly. But if you sell the gold after owning it for about a year, the returns are taxed at a maximum of 28%.