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The narrator provides tips for those who are new to buying physical gold. He recommends keeping it simple by starting with popular one ounce U.S. gold coins like American Gold Eagles or American Buffalo coins. These tend to have lower premiums and be easier to sell locally compared to other options.
He advises checking the current spot price of gold on sites like Kitco before buying, but not obsessing over daily price moves. Gold is a long-term investment. Premiums on coins range from 4-7% over spot price. Smaller coin sizes have higher premiums but can help with budgeting.
The narrator recommends buying from reputable online dealers like JM Bullion, APMEX, and BGASC or local coin shops. Prices and shipping times vary. There is typically a 5% loss when reselling, so don't trade gold like stocks.
Coins are generally preferred over bars for liquidity reasons, despite slightly higher premiums. However, bars can save money at scale. The narrator invites viewers to post questions in the comments for more detailed advice.
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The narrator discusses four ways to invest in gold:
1. Buy physical gold bullion coins or bars from reputable dealers like JM Bullion. Quality and purity are important.
2. Invest in gold ETFs or mutual funds that hold physical gold or gold futures contracts. These track the gold price but have tax implications.
3. Buy shares of gold mining companies, though their performance doesn't directly correlate to gold price changes.
4. Trade gold futures and options, but only for advanced traders.
Pros of investing in gold include inflation hedging, portfolio diversification and ease of entry. Cons are no returns, storage issues and trading costs/taxes.
The narrator recommends allocating 5-10% of a portfolio to gold or precious metals.
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The narrator regrets buying 1 oz Pamp Suisse gold bars because the plastic casing has deteriorated over time. This means there is no premium when reselling.
When gold demand is low, dealers pay just under spot price to melt down gold, regardless of packaging. Fancy cases and collectors items do not command higher prices.
The narrator recommends buying the cheapest 1 oz gold coins or bars possible from major mints like the Canadian Maple Leaf, Krugerrand, or American Gold Eagle during sales. Paying high premiums for fractional or artistically designed gold is not cost effective.
Avoid gold-plated plastic coins claiming to be a new form of currency. They contain a tiny fraction of gold but sell for hugely inflated prices per oz.
If you can't afford 1 oz, save up over time rather than buy fractional pieces. Gold prices won't rise 40% while you save up to buy 1 oz.
Treat gold purchasing decisions like buying meat. Opt for the best deal on quality 1 oz coins, rather than overpaying for fancy packaging or designs unlikely to command higher resale value.
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The narrator explains that investing a small portion (5-10%) of a portfolio in gold can provide some benefits like reducing volatility. However, the tax implications of owning physical gold coins/bars directly can be complicated and expensive.
Therefore, the narrator recommends investing in gold through an ETF inside a retirement account like GLDM which tracks gold prices through futures contracts. This avoids direct physical ownership and potential 28% federal taxes on collectibles.
Gold IRA companies should also be avoided due to high markups that can exceed 30% on the gold they sell and store for the IRA.
If owning physical gold directly, the narrator would likely use an online dealer like APMEX which has good prices and ships discreetly to your home. American Gold Eagle coins are recommended.
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Gold typically holds its value during economic crises and market crashes, though it can be volatile. It doesn't generate income like stocks or bonds. Stocks have much higher long-term returns than gold, which tends to just track inflation. Gold should not be viewed as a completely safe asset.
Incorporating some gold into a diversified portfolio can improve returns, with one analysis suggesting an optimal allocation around 30%. Physical gold coins allow tax-free capital gains for UK investors but have storage/safety issues. Gold funds provide easier liquidity and access.
Gold miners offer dividends plus potential growth but have higher risk. Junior gold miners are extremely speculative. Factors like inflation, interest rates and currency values can be used to model gold's "fair value," though the actual price varies greatly.