Are you interested to learn where to buy gold in BC?
There are a variety of reasons why you might want to buy gold.
Canada Gold Buyers
Gold holds its value and retains purchasing power over long periods of time.Having gold can serve as a safety net during currency crises or during times of inflation.
If you are unsure of where to buy, or what to look for in a seller, keep reading. Here are some tips on where to buy gold in BC.
Buy Only Physical Gold
Gold was used as money for thousands of years, and until 1971 paper money was backed up by gold. Today, world currencies are backed by the fiat system, but gold buyers wish to hold money that is backed by a physical commodity.
Many people have invested in paper claims for gold, but in the event of the monetary system crashing, they would quickly find out that there is simply not enough physical gold available. Therefore, if you are buying gold as protection against a crash of the monetary system, you will want to have tangible gold piece.
Buy the Most Liquid Gold
We know your goal is normally to get as much gold as possible for your cash. To do so, you should invest in coins such as the Maple Leaf, which are legal tender. The paper spot price of gold and the cost of the physical ounce of gold should be as close as possible when you buy. You may want to start with smaller denomination coins and once you are comfortable with your stock, move up to larger formats.
Build Up Liquid Stocks
Gold can serve as monetary insurance but is also a means to build up your savings over a long period of time. For example, an ounce of gold purchased in 2004 at a price of $340 would now be worth $1300.
Build up your liquid stocks. After all, you don’t want to have to run around with kilos of bars of gold.
- Buy With Your Savings, Not Credit
Always save first before buying. Our current financial system is one of debt and credit, which is not a healthy economy. When trying to invest in something that can protect you from a financial crisis, do not contribute to the habits that can help create that crisis.
Like any other kind of savings, you may have to give up certain things today to have security tomorrow.
Invest Money That You Won’t Need for Five Years
Nobody really knows when, or if, the system is going to crash, but you don’t want to speculate and make rash decisions. Invest only the money that you won’t need for the next 5 years. At the end of that time, it is very likely that the price of gold will be higher but predicting for the short term is much harder.
Waiting 5 years means you are likely to have a good return. If the market crashes in the next couple of years, you will be OK, but if you invest money that you will need in the next two years or so, you can’t be sure of what prices will be like.
Storing Your Gold
You should always have access to some of your gold, so it is a good idea to keep some handy. A safe at home may be suitable, or you may choose to store it at another secure location that is easily accessible.
Buying gold may seem intimidating if you are unfamiliar with it, so you need someone you can trust. At Canada Gold, we are proud to be accredited through the Better Business Bureau. We are devoted to you, our customer, and seek to make your experience easy and pleasant. Come see us today for all your gold-buying needs in BC.
Our mission is to provide a completely transparent, honest and simple way for you to maximize your return on precious metals.
Learn more about Canada Gold’s testing and buying process or find a location near you.
Awesome customer service. The place takes a different approach to buying gold. Clean and modern atmosphere, no pressure and haggling required as they have all their pricing up front. Well recommended. – Google User Review
I found the staff both pleasant to deal with AND extremely knowledgeable! It was my first time into a gold buying store and I instantly felt at ease and comfortable. I will definitely be back with any other gems I find. Thanks to Ronan and his fabulous team!! – Vicki, Google User Review