My Gold News | 21 February 2023

How to Buy Gold in Auckland

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When is a good time to buy bullion gold and gold coins? This is a frequently common question among new investors looking to diversify a bit and put some capital into precious metals as opposed to the typical public stock markets. The fact is, stock markets bounce all over the place, and that can give a person a bit of a queasy stomach after a while if all your investments are in just that type of holding. Precious metals like gold help you diversify a bit, hedging against dips in the stock market. For example, gold typical rises when the stock market falls, as people often seek the safety of the precious metal to hold onto the value of their savings versus banks or stocks doing the job.

Gold Has a Market As Well

On the other hand, gold fluctuates as well, and whenever there is supply and demand, gold is going to go down in value when fewer people want it or there is more selling. These are often good times for new investors to jump into the gold market to achieve a good starting price that will appreciate over time again. Better known as “price slumps,” dips in the gold value market make for great entry moments versus buying at the top of the market and then watching it go down in value.

Go With the Government

Another way to hedge into gold is to focus on government-issued bullion coins, which go up in value not just based on their bulk gold worth but also as collectibles. Certain government-issued gold coins tend to appreciate with collectible demand over time. Perth Mint Gold Kangaroos, for example, are extremely popular and sell for more than their spot gold value as a result. Gold Maples for certain years tend to go for premium pricing as well.

Watch Out for Proxies

There are online options for buying gold through proxy holdings, such as gold investment pools, exchange-traded funds, and gold mutual funds. The thing to keep in mind here, however, is that you don’t actually own any gold through these investment tools. Instead, you are investing in an agreement with the company that owns the gold that uses your funds to do so. Only through their agreement do you have value in your holding. If the company disappears or goes away, so does your money. Physical gold is always the better option if choosing between the two.

Mail Order Takes Good Research

If you decide to buy gold by mail order dealer, make sure you are working with a reputable company. Look at the fine print and understand how your order is insured as well as delivered by a protected courier to you. Mail order purchasing is doable, but you are involving multiple parties between you and the seller to make the physical connection and delivery. It would be a waste of money and effort to find a good purchase only to lose it because of a careless delivery drop on your front doorstep. 

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Reputable Gold Dealer in Downtown Auckland

There are a couple of reputable gold dealers located in central Auckland and close to the Sky City Casino and Sky Tower. These dealers have been in operation for a good amount of time and regularly handle ongoing client accounts as investors as well as collectors. And when you're done doing business and settling the details of your investment, take some time to relax as well. Being in the Auckland central business district, you’re only 200 meters or so from the Casino. Grab a cold drink and bite to eat and enjoy the afternoon a bit.