Buying Bullion

While everyone seem to be involved in a Gold Rush Silver has been steadily growing in value .
Although Silver has not grown at the same rate as gold it will probably continue growing in value.
One investor tried to corner the market in silver but was eventually foiled .

Buying Bullion

So you want to buy BULLION ?
Are you sure about that ??
Bullion has two ways it can go - up or down .

Before buying bullion have a look at gold and silver prices on google trends.
This will show you how the market is faring this week.

If it is going up then a buy may be in order and vice versa

Ask yourself what kind of bullion you wan to buy - Gold, Silver or Platinum.

There are several ways to buy bullion - one of the best is of course this site.
There you will have no bad surprises when you get the bill.

If you are buying for someone else then try to go with them to the bullion dealer.
Bullion dealers often do not like dealing with new customers.
They are not only shy but also worried about being robbed.

With strict money laundering laws in most countries this is another reason that they do not like large buys in cash.

Some bullion dealers offer a storage service in secure vaults and may or may not charge rent on your gold if you buy from them.

Never pay for bullion by any instant money transfer service. (Like Western Union )
Check out the seller on the internet and use words like scam,fraud and con + the sellers name.
Its a quick and confidential way to get an instant check on them.
Does your BANK sell Bullion ? Many do sell small quantities of gold.
If you want a largish quantity of gold or platinum then make a trip to Switzerland or Lichtenstein where the only reference they require is cash.

You can buy smallish quantities of gold across the counter of most banks there.
Once you have decided where to buy you have a large problem.
If you have bought in a country like Belgium Switzerland or Lichtenstein you may have to pay VAT
(Value Added Tax) on any gold imported into the UK - other countries have similar regulations.
This will add up to 20% to your costs.
There are huge fines for smuggling gold into the UK from the EC.
Do NOT buy gold with a credit or debit card - that raises alarm bells in places you would not believe.
You should expect a visit from the Authorities if you make large purchases of gold.

Alternatively you can rent a safe deposit box (make sure it is well insured)
or buy a good safe and cement it inside a cupboard at home.

No matter how careful you think you are being you will always be leaving a financial trail.
Trails like those interest government departments and thieves.
Even staff in bullion companies and banks have friends outside their work. And they talk.
They talk to their friends, relatives and socialy. You never know who those friends are!

Be careful out there. especially when Buying Gold Bullion

Tags: bullion, buying bullion, investing in bullion, money laundering, swiss banking

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