Invest Safely In Gold

There are a lot of good ways to get into gold, and sadly, almost as many ways to be scammed. With the value of gold where it is (here in early 2024), you have to ensure you are not buying impure gold, or investing in fraudulent digital savings. Here are some tips to make sure you are investing in real gold and not lining the pockets of con artists.

1) Make sure you are buying from legitimate sellers

This is the easiest approach but as a retail customer, you will not have direct access to the wholesalers or major mints. More likely, you'll be buying from a retail or online store. The major chains like Poh Kong or Habib carry real gold, but with all that rental space comes high premiums. If you're looking to invest in gold at the best price, find bullion providers that do not necessarily carry custom-made gold or heavily designed items, but instead carry LBMA-minted gold. This ensures you are getting the most genuine gold for your money. The best of these sellers will provide you the certification from the mint, allow you to see the item in-person, and test its purity on proper testing devices. At Mercury Gold, we provide all these, and certainly hope you come by to meet us and examine your gold before taking it home.

2) Gold does not pay interest

Unlike other assets like cash, bonds, or some equities, precious metals, including gold, do not generate interest or dividends. As such, anybody that offers gold investment with a guaranteed return or appreciation is not actually investing your money into gold. At best, they are buying an alternate asset that is generating interest and then when you try to withdraw your gold, they will swap it for gold, which can end in disaster if the price of gold moves more than the return of the asset they had invested in. More than likely though, it is an old-fashioned pyramid scheme where they are just using your money to pay off people withdrawing their own. 

Serious gold vendors will NEVER offer any savings or investment plans that guarantee returns. At Mercury Gold, we believe fundamentally in the long-term value of gold and its value as an alternative for fiat currency, but we will never offer plans we cannot deliver on.

3) Beware of Digital Gold Savings that are too good to be true

Digital gold gives you the flexibility to buy small amounts of gold over a large period of time which you can then sell or convert to physical gold after reaching a certain threshold

This is the offer that many banks, bullion providers and unfortunately, scam artists, will offer you. However, because Gold does not pay interest, institutions including Mercury Gold, need to earn something in order to offset the cost of holding the physical gold your digital savings are allocated to. At Mercury Gold we charge a nominal daily storage fee to cover expenses and a small premium on the Mercury Bullion Savings grams you purchase. We do not charge ANY conversion fee from digital savings to physical bullion.

Beware anyone who offers long-term digital savings without any fees or expenses, or make sure to read the fine print in terms of how to sell your position or convert your digital savings to physical. We have heard many stories of "low-cost gold savings" that have huge cash-out fees or lots of hidden charges.