During the times of economic instability, the smart investors protect their money by investing in silver and gold. The value of the paper currency fluctuates constantly and hence investing in gold, silver or any other precious metal is a better option. You can buy gold in Canada but before investing, you need to keep various factors in mind.
A big confusion exists in the mind of the investor whether he should choose bullion or bars for his investment. By going through the points mentioned below, you can get an idea about the advantages and disadvantages or purchasing bullions or bars.
Coins have a legal status and are usually produced by the mint of the government. On every side of the coin, an intricate design is made and it changes from year to year. The purity as well weight is also mentioned on the coin. You can also purchase junk coins apart from the conventional silver and gold coins. The value of the junk coins is estimated by the metal content. Junk silver coins are not purely silver coins and it is less expensive than the pure silver coins.
You can easily invest in junk silver to protect your wealth in case of inflation. If you own coins, a major disadvantage which you might face is that the premium is a bit higher than the spot price of the metal. Coins can be easily collected in comparison to the bars and can be purchased at an amount close to the spot price. You can buy gold in Canada because coins have a better legal tender status and are much easier to trade in times of crisis.
Investors like to buy gold in Canada in bars because it is considered to be a great investment. Usually, the gold bars are rectangular in shape and are produced privately in mints. Though the gold bars do not have a legal tender, but you can own it. The bars are easy to store and they are thin and compact. You can also stack the bars which makes storing the bars convenient. You can purchase any amount of bars and make a profitable investment.
There are numerous pros as well as cons you might face if you buy gold in Canada in bars. The bars are very easy to store and hence you can easily store the bars which are obtained from various mints. The silver or gold bars have the lowest premiums and hence are a popular choice. By investing in bars, the investors can easily develop their financial portfolios. The packaging of the new bars is extremely interesting and intriguing. A certificate is provided with the bars which help you to figure out their value. Even though it is not easy to collect bars like coins, it can be considered a profitable investment. It is also quite difficult to barter the large bars in times of crisis.
If you are confused regarding bars or coins, you need to remember that both the types are profitable investments. You can easily buy gold in Canada to save yourself from tricky situations.