Buy Gold In Tanzania, If you’ve been wondering where to buy gold in Dar es Salaam these days…you’ve come to the right place.
Gold Bullion Bars
For those investors looking for variable prices, more designs, and greater options when it comes to the gold they buy, gold bullion bars are an excellent choice. As diverse as gold bullion coins can be, there’s no matching the variety available when you buy gold bars online.
Factors to Consider Before Buying Gold
1. Premium over Spot
Mainly a part of the discussion when we talk about any gold bullion instrument – premium over gold spot price refers to how much more a product is worth (premium charged) over the melt value of gold present in the gold bullion coin, round, or bar. Factors like their minting source, age, rarity, and collector demand play a critical role when valuing a gold product outside its melt value.
Thus, some rounds, coins, and gold bars of similar weights can have substantially lower prices compared to their more popular counterparts. However, gold coins usually enjoy a higher premium than other gold investment options due to official recognition from a sovereign government. Even though the face value given to the coin is nominal in nature, it inspires confidence among buyers.
2. Purity
Though most bars, coins, and rounds manufactured across the world, be it in Austria, USA, or China, Tanzania contain 99.9% or 23 carats pure gold, a few mints like the Royal Canadian Mint surpass the typical purity levels by using 99.99% pure gold in their products. Even though a 0.09% purity increase might not seem like a lot, it vaults the gold products into an elite category of products.
3. Susceptibility to Counterfeit
Precious metals investments have always been the target of counterfitters looking to make a quick buck. To battle this issue, many mints implement unique markers and counterfeit-proof measures, like Sunshine Minting’s Mint Mark SI™ feature and the micro-graving done by the Royal Canadian Mint. As the counterfeiting is punishable by law and usually carries a heavy prison sentence and fines, legal tender coins are considered a comparatively safer option as their legal tender status acts as a successful deterrent in most cases.
4. Stackability
Storing gold bullion products can take up considerable space. As secure storage space is a limited resource, products must be chosen with care. Stackability of the products purchased will affect the amount/value you can store in a given area of the limited secure storage at your disposal. Value per square inch is a critical metric when buying relatively large quantities of gold bullion. Bullion bars allow substantially more amounts of gold per square inch compared to all other investment vehicles. On the other hand, gold coins and rounds are unwieldy options as they require casings, tubes, or boxes when storing large numbers.
5. Brand/Series
Famous, well-known coin series and coins from respected mints are easily liquefiable due to constant demand for products. Hence, at any given time you will be assured of scores of both active buyers and sellers in the market. This ensures that investors can easily divest their precious metals assets, without having to sell at melt value.
6. New vs. Secondary Market
Another factor to take into account when purchasing gold instruments is whether to buy new freshly-minted products or to look for relatively cheaper secondary-market gold goods. Like any other product or commodity, most everyone automatically prefers shiny and new. Moreover, there is a widespread myth among some investors that secondary-market precious metals products have a lower resale value because of their condition and lack of finish. Depending on the sentiment and market condition when the investor is looking to sell, this is not always the case. However, collectors who treasure gold coins for their collectible value will, in most cases, prefer mint condition and near-perfect or perfect graded gold coins.
7. Playing the market
For people who want to ‘play the market,’ i.e. buy and sell regularly to earn immediate profits on every transaction, it is essential to invest in products that can be moved quickly. Even though this is a well-known strategy, timing the market is harder than it seems. For investors who want to buy and sell at a moment’s notice, portability plays an important role in their product choices. However, a healthy risk appetite is required for playing the market. These investors mostly prefer smaller, more portable gold investment vehicles such as coins and rounds.
8. Small Buyers
People with limited capital to invest in precious metals may not divest as much as they would desire into gold bullion. Hence, such buyers should stick to cheaper low-risk gold bullion products with lower premiums over spot, offering them solid appreciation over time – granting them with inflation-proof, financial protection. This is the best way to hedge against inflation and is recommended by financial advisors as a good method of balancing portfolios.
9. Large Buyers
These particular buyers are looking to create a hefty fund to hedge inflation. When seeking to establish a substantial fund, bars become an extremely attractive option, as they are the easiest to stack and store. They come in weights as high as 32.15 troy ounces, making storage relatively easier when compared to other instruments such as rounds and coins. However, providing adequate safety and security to this massive quantity of gold can be a tedious task. Hence, investors are increasingly attracted towards offshore gold storage facilities, advertising top-of-the-line security and peace of mind.
10. Collectors
Some people out there appreciate the true beauty of a beautifully minted gold coin. Take the coins from the famous American Gold Eagle program for example, with obverses featuring Weinman’s beautiful Walking Liberty and the reverses depicting Mercanti’s rendition of a Bald Eagle and a shield, a symbol of American strength and pride. Collectors buy these products for their ‘artistic’ or ‘collectible’ value rather than their melt value. For them, there is no right or wrong; they should pick the products that they consider aesthetically appealing.
As you would have probably figured out by now, all forms of gold bullion products have their purpose in an investment portfolio. Hence, a safe and recommended strategy is to allocate a specific ratio (depending on you or the advice of your investment advisor) of every type of gold bullion instrument in your tangible assets. However, it is an entirely personal decision that one must take after careful deliberation.
Buy Gold Bullion Bars
Buying gold bars is one of the most popular ways to buy gold bullion online today. Gold bars are normally priced lower than gold coins so gold bullion stackers prefer them a lot of times for this reason.
Gold bars also allow you to accumulate a lot of precious metal value in a small format. For example, an ounce of gold has traded for $1,500 to $2,000 over the last decade. An ounce of gold is pretty small and takes up very little space. Therefore, it’s very easy for hard asset investors to protect hundreds or thousands of fiat dollars in a small cubic space.
If you’re a large volume investor, you can buy one kilo gold bars that easily fit in your hand, but holds thousands of dollars of value in precious metal. But you don’t have to be a large investor to get started buying gold bullion bars. You can start off with 1 gram,. 5 gram or 10 gram gold bars. These gold bars still contain significant fiat dollar value and they also fit any investor budget out there.
How to Buy Gold Bars
Gold bars are usually weighed in troy ounce, but there are also some mints that produce them in grams. Another aspect to consider is the production method. Minted gold bars bear a smoother surface and may include designs celebrating national symbols, and cultural representations, whereas cast gold bars tend to be heavier options with more simplistic engravings.
Finally, consider picking products from prominent mints. Because they are usually more sought-after, it will likely be faster to resell them (if you decide to do so) than lesser-known mints. Gold bullion bars can be minted from government mints like the Mwanza Precious Metal Refinery (MMPR) or private mints like the highly recognized PAMP Suisse.
Buying gold bars is a popular investment for both new and experienced physical precious metal investors and long term gold bullion savers. Contact us and Keep reading to learn more about our products.
