People generally prefer to buy gold coins during auspicious occasions of Dhanteras, however one can buy such gold coins any time they wish to.
The gold coins rate may vary time to time depending upon the international price of gold and various other market conditions. However, if you are a long-term investor then buying gold in the form of coin can really be a very smart idea.
Let us tell you few good reasons why you must buy gold coin.
- Available in high purity form
You can buy gold coin of either 24 carat form or in 22 carat form. The 24-carat form is considered to be the purest form of gold available where 24/24 part contains gold. In case of 22 carat slight amount of silver or zinc is mixed in order to make it durable. Normally ornaments that are used by Indians are of 22 carat gold.
A standard has been established by Bureau of Indian Standard (BIS) in order to ensure that Indian consumers are not deceived while buying gold. They put their stamping on all gold items including jewellery to certify the purity of the gold. When you buy gold coins rate today then you must check the hallmark before buying.
If you buy gold coin then it will be sold in temper proof package and proves its credibility if you are trying to sell it. Package should not be broken unless you want to use it for making jewellery.
You can buy gold coin in the range of 0.5 gm to 50 gm weight. Depending upon the gold coin weight and price you can choose to buy any denomination that your pocket can allow.
5 .Making charges
Buying or selling of gold coin has no such hassles like transacting with golden jewellery where a factor like making charges are also to be taken into consideration. The rate of making charges vary on many factors that often remains a subject of negotiation between buyer and seller.
6. Many options to buy
Gold coins can be purchased from various sources like offline / online jewellery shops, banks, Stock Holding Corporation of India or government run MMTC or few financial companies.
7 .Easy to sell anywhere
You can sell your gold coin almost to any interested customer. However, if you have to purchase this coin from a bank then you cannot resell it back to them as there is special directive from Reserve Bank of India.
Every investment expert will recommend to have 5 to 10 per cent of portfolio in the form of gold. In that respect gold coin is the best form of investing in gold which is going to appreciate in the long run.
9 .Its pricing is very transparent
While buying or selling of gold coin there is no scope of negotiation. There is a gold rate available for each day and based on the weight of your coin you can decide the price.
10 .Easy to store
Gold coin is light in weight and very compact in size and hence it can be easily stored in the locker.