How To Buy Physical Gold?

The comprehensive buyer’s blog on purchasing physical gold is provided by Goldy Jewellery. You can make smart investments with our professional assistance.

What Is Physical Gold?

For thousands of years, gold has been utilized as a store of wealth, in industry, and as jewelry. These days, it is still utilized for these purposes and remains widely valued. It is still highly regarded and seen to be better than many traditional currencies of even the wealthiest countries, despite the fact that it is no longer used as a sovereign currency. This explains why it is so well-liked as a safe shelter for riches and a long-term investment.

Everything you need to know about actual gold and where to get it will be covered in this blog. We recognize that you may still be unsure about how to buy gold in Nigeria even after you have taken the time to decide to invest in it. Is it possible to purchase gold bars? Or, where are gold coins available for purchase?

What Is Gold Bullion?

The term “bullion” is frequently used to refer only to gold bars; this isn’t accurate because it may be used interchangeably to refer to both bars and gold coins. Investment-grade gold is referred to as bullion; the value of the coin or bar is determined by the amount of precious metal it contains, which is an important factor in gold buying in Nigeria. Accordingly, gold needs to be at least 99.5% pure to qualify as bullion.

The purest form of gold is bullion. Because of its high purity and widespread acceptability in the Nigerian gold market, investment-grade bullion is regarded with great trust.

The current price of gold plus the premium is what determines the price of bullion. All of the expenses incurred to get that gold bar or coin to you in the state where you purchase it are covered by the premium, including manufacturing, shipping, insurance, marketing, and maybe packaging if you are purchasing a certain type of bar or coin. Demand and supply for that specific bar or coin at the moment of purchase may also be reflected in the dealer’s premium.

What Is A Bar Of Gold?

A standard-sized block of gold that is at least 99.5% pure is called a bar of gold. To meet the needs of any investor, it is available in a variety of weights and sizes, making it easier to buy gold bars in Nigeria based on budget and objectives.

The bars follow specific guidelines established by the refineries themselves to avoid counterfeiting and forging and to demonstrate authenticity. They feature a highly distinctive form, the refinery’s name and insignia, and a special serial number that links it to the refinery where it was made.

Only gold bars produced by refineries recognized by the LBMA (London Bullion Market Association) are sold at Goldy Jewellery. Because the market is so liquid, having gold bars that have been authorized by the LBMA (London Bullion Market Association) guarantees that your bars are genuine, reasonably priced, and simple to resell.

How Much Does A Bar Of Gold Weigh?

There is a gold bar for every investor and investing plan, available in a variety of sizes and forms.

• One-ounce gold bullion bars: Measure precisely one troy ounce and are at least 99.95% pure.
• 250-gram gold bar: A popular bar for a variety of investors and investing plans, this is portable and easy to store, particularly for individuals who purchase gold in Nigeria for long-term storage.
• 10 Ounce Gold Bar: This investment-grade bullion bar is offered at a little lower premium than 1-ounce gold bars or coins because of its slightly bigger size. It is precisely 10 troy ounces (311.034768 grams) in weight.
• 500-gram gold bar: The premium on 500-gram gold bars is even less expensive than the previously stated bars because of their size. Store-of-value and high-net-worth consumers like 500g bars.
• 1 kilogram Gold bar: Institutional and high-net-worth investors are increasingly choosing these 1 kg gold bullion bars. Because of their much bigger size, premiums are even lower on these bars.

What Is A Gold Coin?

Naturally, gold coins have a coin-like form. They resemble the coins that are now in use as legal currency. The similarities stop there! Expertly produced and made under rigorous quality standards, and verified for purity, gold bullion coins are incredibly precious.

There isn’t a single gold bullion coin that isn’t 99.5% pure. Some will have been hardened by mixing it with another metal, such as copper, but this does not lessen the amount of gold or its purity. For instance, some one-ounce gold coins may contain other metals for durability without lowering the gold content.

What Gold Coin To Buy?

The most well-known and sought-after gold bullion coins from the most reputable refineries and vendors that Nigerian consumers trust are available here, helping buyers make confident decisions on where to buy gold in Nigeria.

What to consider when buying physical gold?

• What kind of gold bars and items are available? – Seek out stores that can sell a variety of gold coins and bars. Since each investor has unique portfolio needs, it’s critical to have confidence that your gold bullion dealer can locate a product that meets your needs.
• Charged premiums: Compared to large bars, tiny bars have comparatively higher premiums. The amount added to the price of the gold contained in the bar is known as the premium. The expenses incurred to bring the bar to the point of sale are covered by the premium.
• Extra fees: These might include insurance, shipping fees, or even “handling” expenses. When you find unreported charges, use caution.
• Storage options: After you buy gold bars, it’s critical to think about what you’ll do with them. Although some customers choose to store gold at home, this is not usually the most secure long-term solution. Find out what safe storage choices your gold supplier may supply.
• Options for buybacks: As part of a well-balanced portfolio, you should ideally always own gold bars, but occasionally you might want to lower your exposure to the precious metal or realize some gains. If you decide to sell part of your gold, you will need to have easy access to a dealer and a platform.
• Reputation: Always check internet reviews, client testimonials, and recommendations from friends when choosing the best place to buy gold in Nigeria. Word-of-mouth is frequently the finest source of information. With thousands of consumers, you’re guaranteed to discover a positive customer review here at Goldy Jewellery!

Where Can I Buy Gold Bars?

• The high street: For those who like to acquire real gold, high street outlets provide the benefit of allowing customers to touch and feel the coin or bar before taking it home on the day of purchase, especially when they buy gold jewellery in Nigeria. But that’s where the benefits stop. The premiums on gold bullion are often larger in stores than at gold dealers due to the nature of their setup. Additionally, you won’t be able to access the highly liquid investment gold market if you decide to sell your gold at a later time, nor will you be provided with secure storage to the standard that an investor should utilize.
• Online marketplaces: Unfortunately, there aren’t many benefits to purchasing actual gold through an online marketplace. The wide variety of gold bars and coins available may intrigue you, but this is because anybody may sell on these platforms, so there are obviously many alternatives. Since anybody may utilize the marketplace, you should act cautiously because it is quite difficult to verify the authenticity of the coins and bars that are being sold.
• Devoted gold bullion merchants: One of the top gold bullion dealers is Goldy Jewellery. Many consumers choose Goldy Jewellery for secure and trustworthy real gold purchases. This is because we provide a comprehensive service that is safe, easy, and individualized. We provide a large selection of gold bars to fit your investing style. We provide a competitive buy-back plan and competitively low premiums with no additional costs. Many of our customers opt to use our safe storage vaults, which are located in multiple secure locations worldwide.

How To Buy Physical Gold With Goldy Jewellery?

For over 70 years, we at Goldy Jewellery have assisted investors in purchasing and storing actual gold. Our sophisticated and safe online trading platform is used by thousands of clients worldwide to invest in gold and silver bullion.

With Goldy Jewellery, we have simplified and secured the gold bar purchasing procedure. However, when you first start investing in gold bullion, it may appear overwhelming. For this reason, we provide personal support to guide you through the process.

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