How to Build Personal Wealth Through Bullion Investing

Investing in precious metals is a unique way to build wealth and diversify your savings. For entrepreneurs, precious metal investing offers a way to add some much-needed security and stability to their personal wealth. When so much of your income and net worth is dependent on the high-risk, high-reward world of running your own business and betting on yourself, precious metals can anchor your savings and open up avenues for generational wealth preservation.

Buying physical bullion is a way to protect your savings from counterparty risks, inflation, and stock market crashes. These tips will help you get started with investing in physical bullion.

1 Learn About Different Bullion Products

Bullion includes a variety of precious metals, including gold, silver, platinum, and palladium. There are a number of different products available that are made from these metals. Investors primarily work with bars and coins, as these have the highest purities.

That said, many become interested in bullion through jewellery, which usually has a lower concentration of precious metals to improve their durability and make them wearable. When you purchase jewellery, you often pay for the prestige of the brand name and the design, over and above the metals themselves. Jewellery buyers like Muzeum pay top prices for jewellery and can help you recoup those costs, but bars and coins are best if you’re starting fresh as an investor.

2 Find a Secure Storage Solution

When you invest in physical bullion, you need a place to put it. There are several options you have available to you, and they can all make sense depending on your preferences:

• A secure safe located in your home.
• A safety deposit box.
• Third-party allocated storage.

The advantage of a home safe is that you have direct, unrestricted access to your gold, and no one has to know that you have it other than you and your insurer.

Using a safety deposit box at the bank allows you to rely on your bank’s security protections. However, the contents of your safety deposit box are not insured the way a bank account is. You may still need your own insurance.

Third-party allocated storage provides greater security than a deposit box while also providing you with insurance and reduced risk of interference from your bank or government. When storage is “allocated,” that means that your bullion is stored separately from other owners using the same service.

3 The Differences Between Silver vs. Gold

Now you know how to store your bullion and that bars and coins are more effective investment vehicles than jewellery, but there’s still an important choice to be made: silver or gold.

The primary feature of gold is that it acts more like a speculative investment and investment vehicle than a commodity. Its market operates in the same world as stocks and bonds, while providing a critical counterbalance to paper assets like them.

Silver prices are similar to other commodities. They’re driven by supply and demand factors, including industrial growth and consumer spending.

With these basics, you can start building personal wealth through precious metals.

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