A Beginner’s Guide to the Precious Metals Market

If you’re reading this article, you’ve probably decided to invest in precious metals but you probably don’t know where to start. That’s alright. With information overload all over the internet, it can be quite daunting to understand the basics.
But investing in precious metals is quite rewarding and anyone can do it. Here’s how you can get started:

Understanding why the world is going crazy for precious metals

Everyone is turning to precious metals because the global economy is currently unpredictable and people want to invest in assets that are safe. Unlike currencies, the value of precious metals remains unaffected even when economies are unstable.

Types of precious metals

Gold is the most popular precious metal among investors because of its historic importance and the belief that if currencies become worthless, people would turn to gold to facilitate trade. According to Forbes, American Eagle and Canadian Maple Leaf are the best gold coins to buy for North American investors. Besides gold, other precious metals include silver, platinum, and palladium.

Ways to invest in precious metals

There are different ways you can invest in precious metals and the choice depends on your investment goals. Decide if you’re investing for your retirement savings or if you’re doing it to build your portfolio. Once you know your goal, you can choose from the following investment options:
· Exchange Traded Funds (EFT) is traded on the stock exchange. So when you buy a metal EFT, you do not get the possession of the metal but you get the cash equivalent when you sell it.
· Physical metals can be bought from jewelers, banks, or bullion dealers in the form of bars, coins, and rounds.
· Precious metals IRA is an individual retirement account that holds physical metal for custody so you can benefit from owning metals without worrying about storing it.

Things to consider while buying precious metals

Always check the current prices and trends before buying precious metals. This way you can maximize your profits by buying them when the prices are comparatively lower. Make sure you’re buying pure metals because it’s easier to resell pure gold and silver. Always buy from reliable, licensed and insured dealers because frauds and scam artists in the market can easily trick naive investors.

If you’re looking for professional precious metals dealers in Los Angeles, California, contact Orion Metal Exchange. They’re Professional Coin Grading Service (PCGS) authorized dealers with 50 years of experience in the precious metals industry.

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