Spot Gold - Know Before You Invest

One of the "tricks" unethical coin dealers use to increase their profits is to misquote the spot price of gold and silver. They may advertise low premiums on the coins they sell but after adding a little to the spot price, the premiums are higher than those of the honest coin dealers.

This may not be a big deal if you are only buying a coin or two. But if you are investing in a bag of silver (715 ounces) or several one-ounce gold coins, the amount you are overcharged could be significant. Your goal is to get as much gold (or silver) as you can with the money you have to invest.

The solution? Find out what the spot prices of gold and silver are just before you visit your local coin dealer or call that major dealer or shop online. You can do this on my Gold Investing Simplified home page or other online sources. But make sure you take this step before you invest.

Remember, information is power and when it comes to saving you money, it is power indeed.

Happy investing.