How to Bring In Extra Cash with Gold
Inflation is at an all-time high, a recession is looming (according to experts), and everyone is feeling the pinch in their wallets. Budgeting and scaling back can only take your money so far until you realize that you need another source of income. Finding time for a side gig can be hard, putting you in a tough spot. Luckily, there are many ways you can earn extra cash, such as investing in gold. Keep reading to learn more about how to bring in extra cash with gold and more about how to invest in gold.
Start Collecting Gold Coins
One of the ways you can bring in extra cash by investing in gold is to start collecting gold coins. There are endless types of gold coins you can collect depending on your interests, what you find to be beautiful and desirable, your investment goals, and much more. Gold coins are constantly being minted for commemorative purposes and much more. However, some of the top coins for investing in gold include:
- American Eagle 1-Ounce Gold Coin
- American Buffalo 1-Ounce Gold Coin
- Canadian Maple Leaf 1-Ounce Gold Coin
- British Britannia 1-Ounce Gold Coin
- South African Krugerrand 1-Ounce Gold Coin
Gold coins are highly liquid, and there is almost always a buyer waiting to buy your gold coins. Whenever you’re ready to turn around and sell them for a profit, it can be a rather easy and quick transaction. This is the exact opposite of many other investments, such as real estate, which require a lot of time, experts, paperwork, and knowledge.
Investing in Physical Gold
In addition to collecting coins, there are other ways to invest in physical gold. In many instances, you are limited only by your budget. You can invest in as little or as much as you’d like and sell as much as you’d like when you need the cash. They include:
- Gold bars. Gold bars are a form of gold bullion and one of the most popular ways of purchasing it. Who doesn’t love the look of a beautiful gold bar? As simple as gold bars might seem, there are actually many different forms, brands, and types of gold bars you can purchase.
- Gold bullion. Bullion is a general term when referring to precious metals, such as gold, silver, or platinum, that have been accounted for in units rather than in their natural form. Bullion is also recognized as being at least 99.5% and 99.9% pure and can come in many forms. Essentially, gold bullion is any formed, refined, and stamped piece of gold.
- Gold ingot. An ingot is the name of the mold that the gold is poured into to create the gold bar. Gold ingot differs from gold bars because they are much larger than traditional gold bars and are not made through the same minting and stamping process as regular gold bars. In addition, gold ingots are required by the LBMA to contain 99.5% pure gold, just like regular gold bars.
Preious Metals IRA
Investing in precious metals works as a portfolio diversifier and as a hedge against inflation, protecting your other savings. The perfect time to get a precious metals IRA is now so that your savings and retirement are protected against this uncertain economy.
The protection from inflation and portfolio diversifier works in three ways:
- Value of the dollar decreasing: When the value of the dollar begins to go down, banks are perceived as unstable, or the government is seen as unstable, the value of gold and precious metals go up.
- Inflation. This is when there is a decrease in the purchasing power of money, reflected in a general increase in the prices of goods and services in an economy. When this happens, the value of precious metals rises.
- War and political upheaval. Precious metals can be stored and made portable, making them something people tend to hoard during times of political uncertainty.
Bring in Extra Cash with Help from Priority Gold
Investing in gold is simple, easy, highly liquid, and a great investment for both the short-term and the long-term. Gold will always have value. In its 3000-year history, it has never been worth zero, it is not vulnerable to manipulation or devaluation by the government or Central Bank. It is rare and in limited supply, is globally recognized, accepted, and traded, and can outperform most stocks, including high-flying technology stocks, bonds, equities, and commodity markets.
If you are ready to invest in gold to protect your savings and secure your future, we can help. Priority Gold is one of the most trusted precious metals dealers in the United States with a BBB A+ Rating, AAA Rating with Business Consumer Alliance, and 5 Stars Rating with TrustLink.
We specialize in providing precious metals investment services with Security, Liability, and Great Convenience for customers. Our team is committed to helping to streamline their precious metals purchases at a fair price, selecting the right precious metals portfolios, and meeting their critical financial objectives.
We offer Free Storage for qualifying Gold & Silver IRA accounts, a fast & easy gold buying process, and smooth IRA Transfer. And gold shows up on schedule. Priority Gold guarantees the highest customer service standards, which come with honesty, professional conduct, and the Ethical Code of Business.
For more information, visit us at prioritygold.com