It’s taxing to keep a tab of the loans, credit card bills, and utility bills to pay these off timely and avoid incurring any additional charges.
Invest in GOLD and give a boost to your investment portfolio
Any person, who is considering investing in gold coins that are also referred to as “rare” gold coins, should be aware of the several myths that exist about such an investment.
We will be considering the gold rate in UAE as an example in case of any clarification of concepts.
Here are some of the most common myths about investing in gold coins:
Truth: The prices of bullions track the spot price of gold closely and the value of bullion is nothing more than its metallic worth. Rare coins are an entirely different species. The majority of the gold rate in UAE for the coin is tied to market worth and rarity of the fact that they are collectible coins.
Truth: Gold coins have the possibility of increasing in value, but the retail markups are generally very high. Therefore, in rare scenarios such as a purchase in bulk, you are likely to lose money at the given gold rate in UAE that may be offered to you.
Truth: Gold coins are made of gold, however, a majority of its resale value is based on their worth as a collectible investment.
Truth: It is a misconception that gold coins are highly liquid. In most cases, an investor has a difficult time selling them. Rare coins are a form of collectible investment and are difficult to sell unless a willing buyer is present.
Truth: Rare gold coins need to be insured and stored in someplace safe, something like a secure vault or locker. This is because they are exposed to the risk of theft.
Truth: The rare gold coin market is volatile and complicated. It requires a depth of knowledge that requires longer than just days or weeks of knowledge. You can gain some knowledge by talking to a trustworthy coin dealer.
Truth: If you know someone who is trustworthy and has a good experience of investing in the rare gold market, then investing in gold coins can be the option for you. This is because one needs to understand the fact that this requires a long holding time in order to be profitable for them.
Truth: It is a big misconception created by many sellers that rare gold coins can be liquidated at the market gold rate in UAE and at face value. It is not a good idea to consider a rare gold coin as a financial cushion for stressful times.
In a Nutshell
People who are considering investing in gold coins should be aware of what they are doing or have someone trustworthy to advise them. There are many myths formed when it comes to investing in gold coins and one should consider all of the facts well before making any decision. Even a small amount of rare gold coins can in total cost a lot and not turn out to be very liquid.