Gold is an integral part of Indian culture, Indian women like wearing gold jewelry and men love to gold investing for best performance. No matter in income levels, all Indian families have gold in one way or another and quantity depends on their financial strength. Many families spend in gold for future purposes such as child marriage, retirement, etc.
Whether you are thinking about investing in gold by buying gold coins in India, there are some best tips you must be taken to prevent the loss of money. Actually, here are some of the forms in which you could maximize your savings when investing in gold coins or bullion.
Best Tips for Buy Gold Coins:
When thinking about buying gold coins – the first place that springs to mind is probably the local goldsmith, but plenty more options available to you provision if you want to buy gold coins.
1. Buy gold coins at the bank:A large number of Indian banks sell gold coins these days. Almost all the banks in India to sell gold coins in different weights and shapes. The banks sell only coins and bars 2.5 grams to about 100 grams in tamper-proof packings. Banks are most reliable places to buy coins of pure gold, because it is almost zero percentage possibilities for fraud. The weight of and the purity of are 100% accurate. Banks also offer certified of purity of the gold coins they sell.
On the other hand, there are two disadvantages when deciding buying gold coins from banks. The first is the premium price at which banks sell gold, which is generally 10% – 15% compared to market price. In the second place they do not return to purchase gold coins from you. Upon leaving the bank after buying gold, that it is impossible sell gold back to the banks.
2. Buy gold coins from your local jeweler:Gold jewels stores are the most accessible for purchasing gold coins. They are selling the coins in a variety of weights and shapes. If you are religious, you can buy coins in the form of God you pray. Else you can be gripped regular gold coin that is available on the same manner as in banks.
The majority of the Indians will have a family jeweler, and whether they sell gold coins or bullion, then you may find that this is the most inexpensive option. In addition, they will be ready to purchase – back gold coins, and it is an additional benefit of buying them.
3. Buy gold coins at the post office:Other trusted sources for buying gold coins are Indian Government Offices. 24K sold 99% pure gold coins in several denominations ranging from 0.5 grams to 8 grams. India Post has introduced gold coins with India Post logo for sale to the customers across India. The gold coins are of the denomination 0.5 g, 1 g, 5 g and 8 g of 24 carat with 99.99% purity. The gold coins have the benefits of internationally recognized certification, quality packaging, product standardization and assayer certificate. This facility is available in 630 Post offices across India. So if you live in a small town that is not a bank selling gold, then are good possibilities that your area head Post office selling gold coins.
Just like the banks, the rates of golden coins in the post office are slightly above the Gold jewels shop. To price information on gold coins at the post-office, you have to go into the office closest post office personally and ask for pricing.
4. Buy gold coins from nationwide reputed retailers:Across the major cities of India, you can go to a reputable retailers jeweler Tanishq nationally and level, and you can shop gold coins or bars of 24K & 22K by them. This gives you peace of mind, as they have a solid reputation and good layouts means that it will be an convenient option for many of you. They give you guarantee for gold purity and you can buy gold coin 1 gram brick 1 KG. Fees range on the amount of gold that you are considering buying. Maybe, if you want to purchase 500 grams or 1 KG gold for any corporate purpose, get into these institutions and order a good discount.
Some jewels, Zaveri Bazaar in Mumbai, will not provide cash in exchange for their coins of other jewelers like Tanishq. You can only get their gold coins or jewelry to change after certain fees.
5. Buy gold coins online:I saw at least a couple of web sites like eBay India selling gold coins online, and it appeared to be legitimate. I’m not linking to them because I just could not look at reviews on them, and I know not anyone that has bought golden coins online in India. Also, when I checked the price of a gold coin of 2 grams on its website and compared it with golden coins SBI is for sale, – I found that the online shop is exacting a higher price. Webshop was begging Rs. 7250 for a 2 grams of 99% pure gold coin, while the price I saw on the SBI was Rs. 6153. This has perfect sense to m