Can You Get Rich from Investing in Gold?

It has been a reliable way for millions of investors to protect themselves against inflation, economic recessions, and to achieve higher returns. However, these results are not guaranteed. If you decide to invest in gold coins, it is best to purchase them from a reputable merchant or financial institution. Popular gold coins include the American Gold Eagle, the Canadian Gold Maple Leaf, and the South African Krugerrand.

Since President Richard Nixon ended the practice of converting dollars into gold in 1971,1 people have been buying gold ingots as a way to diversify their investment portfolio and protect themselves against inflation. When you buy gold coins, you pay a premium on the price of an ounce which is how the trader makes a profit. If you are buying gold coins from someone you are not sure about, it is important to check their authenticity first. Investors can invest in gold through exchange-traded funds (ETFs), buy shares in gold mining companies and partner companies, or purchase physical products such as coins or ingots.

Whenever there is global economic uncertainty, investors tend to buy gold as a safe haven. If you do not want to hold physical gold, then buying shares in a gold mining company may be a safer alternative. Many people continue to invest in gold by buying stocks or mutual funds that invest in gold. This is because there is something very satisfying and solid about investing and wanting to buy gold coins.