GOLD COIN INVESTMENT GUIDE: WHAT YOU NEED TO KNOW BEFORE YOU BUY
Gold has an enduring significance in the hearts and financial strategies of Indians. It transcends its status as a mere precious metal; it embodies an investment avenue, a symbol of prosperity, and an intrinsic facet of our rich cultural heritage. In this blog post, we will immerse ourselves in the realm of online gold coin purchases in India, delving into the reasons why it is a prudent investment choice and offering guidance on navigating this process with ease and confidence.
Is Buying Gold Coins a Good Investment?
High Liquidity:
Gold coins are like a financial safety net. They can be turned into cash quickly and easily when you need funds urgently. Whether you sell them at a local bank, a trusted jewellery store, or through online platforms, gold coins offer a convenient way to access your money. This comes in handy during unexpected financial challenges or when encountering a promising investment opportunity requiring immediate capital
Market Synchronicity:
Gold is like a guardian for your investments. Gold coins faithfully reflect these market dynamics, ensuring you benefit from these price movements. When your other investments are struggling, your gold coin investment can act as a shield, potentially offsetting losses and helping maintain your financial stability.
Lower Making Charges:
Gold coins are like a smart buy. When you purchase them, you typically pay minimal or zero making charges compared to gold jewelry. Making charges represent the extra cost of crafting intricate jewelry pieces, and gold coins, with their simpler design, don’t have these added expenses.This translates into a better deal for you as an investor. You’re essentially paying for the actual value of the gold without any additional markup. It’s a straightforward and cost-effective way to invest in gold.
Purity Assurance:
Gold coins come with a promise of purity, almost like a guarantee of authenticity. In India, hallmarking certifies that the gold content in the coin is at least 99.9% pure. This level of assurance is often absent when buying gold jewelry, where impurities and craftsmanship can affect the overall purity.Knowing that your investment is in pure gold provides a sense of security.
Things to Know Before Buying Gold Coins:
Before finalizing your online gold coin purchase, consider the following factors:
Purpose of Investment:
Determine why you’re buying gold coins.Whether as an investment, a hedge against inflation, or a gift.
Purity:
Opt for coins with at least 22 karats for higher purity and value.
Coin’s Weight and Price:
Choose a coin that aligns with your budget and investment goals.
Reputable Dealer:
Always buy from reputable and authorized dealers to ensure the authenticity and quality of your gold coins.
Taxation and Fees:
Be aware of applicable taxes and fees like GST and making charges.
Storage:
Invest in secure storage options, such as safe deposit boxes or reputable vaults.
Authentication:
Verify the authenticity of your gold coins through authorized centres and retain certificates for future reference.
Where to Buy Gold Coins?
Buying from Banks:
Banks are a reputable and secure source for online gold coin purchase. They typically offer coins with the highest purity, often 24 karats with 999.9 purity, making them ideal for investment. When you buy from a bank, you can trust the authenticity and quality of the gold. Banks also provide tamper-proof packaging, ensuring the coins’ integrity. Some banks offer discounts for bulk purchases if you plan to invest a significant amount.
Buying from Jewellers:
Reputed jewellers are a common choice for online gold coin purchase. However, not all jewellers may accept cash transactions for gold coins due to regulatory requirements. Prices can vary among jewellers, so it’s advisable to compare prices from different sources before making a purchase. Some jewellers may offer uniquely designed coins or special packaging, making them suitable for gifting. When buying from a jeweller, always insist on a proper invoice and a certificate of authenticity.
Buying from Other Sources (Online):
In the digital age, many jewellers and online platforms offer the convenience of buying gold coins online. While this option is convenient and provides access to a wide selection, it’s crucial to exercise caution due to evolving regulations in online gold sales in India. To ensure a secure online gold coin purchase, consider the following:
- Choose well-established online sellers with a history of customer satisfaction.
- Look for detailed product descriptions, including information on purity, weight, and price.
- Verify the seller’s credentials and ensure they are authorized by relevant authorities.
- Read customer reviews and ratings to gauge the seller’s reliability.
- Confirm secure payment methods and ensure the website uses encryption to protect your personal information.
- Review the return and exchange policy in case any issues arise with your purchase.
While online purchases offer convenience and competitive prices, conducting thorough research is essential to avoid potential scams or counterfeit coins.
Summary – Online gold coin purchase has never been easier with the introduction of Plus, a jewelry savings app designed for India. Plus revolutionizes the way you save for and invest in your desired gold coin pieces, offering an incredible annual interest rate.With a vast network of verified jewelers, you have the freedom to discover and choose the jewelers that align with your preferences and requirements. So, make your online gold coin purchase a seamless and rewarding experience with Plus.
