In general, there are three fee rates charged for a Gold IRA. Some companies waive the fee for a larger initial deposit. If you already have an IRA, 401 (k), or similar defined contribution account, such as a 403 (b), you can transfer some or all of your money to a Gold IRA with no tax liability or penalties. We’ve assessed the reputation, transparency, and quality of online education and the resources provided by Gold IRA companies.

A gold IRA, which can also include silver, platinum and palladium, is characterized by the fact that the account holder owns the actual precious metals and not shares or fund shares in mining companies. We’ve rated more than a dozen Gold IRA companies and identified the best options for investors with diverse needs and financial refinements. If you’re looking for a company that makes investing in gold affordable, there’s one option — Patriot Gold Group. Investing in a Gold IRA is one of many ways to plan for retirement, and if you choose to do so, be aware of how you can do it wisely.

The leading Gold IRA companies offer unbiased educational resources and investor information, as well as responsive customer support. Self-directed IRAs can be either traditional IRAs or Roth IRAs, and the difference lies in how you want to tax your money. The Gold Financial Group attaches great importance to explaining gold investments and the precious metals that every customer is interested in. Rosland Capital specialists help clients choose precious metals that comply with IRS rules for gold IRAs.

These fees are separated from the spread and are charged by an administrator, who makes it easier to buy or sell precious metals in the Gold IRA. Read more about the different forms of physical gold you can buy, where you can buy it, and tips for buying gold. Many gold IRA companies use scare tactics or take advantage of investors’ fears of a (highly unlikely) collapse of the entire financial system and a comprehensive collapse of the USA. If you prefer paper stocks and don’t want to own physical gold, learn how to buy a gold ETF, an exchange-traded fund that tracks the performance of gold.

With quick new account editing (24-hour setup) and a simple 3-step startup process, Patriot makes Gold IRAS easy to start and affordable to manage. …

Still, a gold IRA can be a good option for investors who want to diversify their retirement accounts and also take advantage of the hedging benefits that the yellow metal offers over other financial assets, such as paper currency and stocks. Many financial experts recommend holding 5 to 10% of a portfolio in gold. Gold IRAs appeal to investors who want a diversified retirement portfolio. That depends on your investment goals and risk tolerance.

Gold IRAs can be used to diversify your retirement portfolio, protect against inflation, and generate tax-deferred income. If your portfolio is already diversified by other investments, including stocks and bonds, you might want to add some gold too. Additionally, gold is somewhat volatile and may not be the best choice for someone looking for consistent returns. Before you initiate the transfer, it’s important to calculate how much of your existing retirement savings you’d like to invest in your new Gold IRA.

Gold IRAs are one of the many low-risk ways you can invest as a senior and offer the opportunity to both protect and increase your profits. Physical gold doesn’t offer the IRA tax benefits that come with long-term holding, if that’s actually your plan. Contact reputable outside sources or a paid financial planner for investment advice if you’re not sure whether a Gold IRA is right for you. For a gold IRA, you need a broker to buy the gold and a custodian bank to create and manage the account.

If you need advice, you should contact a trusted advisor rather than relying on representatives from the Gold IRA company. Gold outside an IRA is considered by the IRA as a grouped good, meaning gains are considered capital gains, and sales must be reported and paid with that year’s taxes. Many people who want to avoid this risk are instead having their Gold IRA company carry it out as a transfer from institution to institution, rather than taking it on themselves. If you’re one of the many on this boat, contributing to a Gold IRA in those years could be a smart place to grow and protect your money.

A Gold IRA rollover involves withdrawing money from another defined contribution account, such as an IRA, 401 (k), 403 (b), or savings plan. Once you reach 72 years of age, you’ll be required to accept the required minimum payouts (RMDs) from a traditional Gold IRA (though not from a Roth IRA). You can transfer all or part of the balance to finance a Gold IRA, with no tax liability, as long as you complete the rollover within 60 days. They also make it easier to open your Gold IRA account but do not provide investment advice and you should not use the marketing material they publish as guidance in this regard.

Of course, there are pros and cons to investing in physical gold, and there are pros and cons to investing in gold IRAs, which are listed below. A gold IRA consists of a single asset class, and by removing the diversity you get with a traditional investment portfolio, you’re exposed to higher risk and deprives you of the opportunity to generate income. You want to choose a Gold IRA company that is transparent, sets fees easily, and has a good reputation. …

Augusta Precious Metals — Best Orion Metal Exchange — Best for Low Fees Birch Gold Group — Best for Fear Transparency Augusta Precious Metals offers plenty of customer information on its website. Ironically, one of the features that make this company the best of our favorites is their video blog series with reasons why you shouldn’t own gold. Many gold IRA companies use scare tactics or exploit investors’ fears of a (highly unlikely) collapse of the entire financial system and a comprehensive collapse of the USA. Five companies have made it onto the list with the most reliable and overall best investor satisfaction.

They are Lear Capital, Goldco, Orion Metal Exchange, and Patriot Gold Group. The Oxford Gold Group is also a well-known company that should be on your radar. Here’s what we’ve done to arrive at our best Gold IRA decisions. We’ve considered the reputation, transparency, and quality of the online education and resources they offer of each Gold IRA company.

Gold IRA companies are not investment companies that are required in trust to act in your best interest. Gold IRA companies are essentially brokers who sell IRS-approved coins and bars of gold and other precious metals so you can invest a gold IRA. Some gold IRA companies describe their offerings as diverse as you can hold more than one type of precious metal in them. Many Gold IRA companies work with a custodian, and either the custodian or the Gold IRA company may select a custodian.

Most gold IRA companies buy back gold or other precious metals they’ve sold to you, but buybacks are generally made at a wholesale price, which is around a third cheaper than the retail price. Gold IRA companies differ in that some allow you to choose between multiple custodians and custodians, while others require that you hire a custodian and depositary of their choice. We’ve rated more than a dozen Gold IRA companies and identified the best options for investors with diverse needs and financial refinements. A gold IRA is characterized by the fact that the account holder owns the actual precious metals, as opposed to stocks or fund shares in mining companies.

We’ve rated Gold IRA companies’ websites together with consumer advocacy organizations Better Business Bureau and Business Consumer Alliance, as well as websites with customer reviews such as TrustPilot. Most gold IRA companies buy back gold they originally sold to you, but buybacks are typically at a wholesale price, which is often around 30% less than the applicable retail price. We’ve researched 18 reputable companies that offer Gold IRA services and searched them for the highest consumer ratings from the Business Consumer Alliance (BCA). Gold IRA companies typically have a number of distinctive characteristics, but the ones discussed here are characterized by trust, professionalism, transparency, and experience.

Some investors think this is safer, an opinion that Gold IRA companies sometimes misleadingly hold. …

A key selling point of gold IRAs is that you own the physical gold yourself. If that doesn’t matter to you, there are other ways to add exposure to precious metals to a retirement portfolio, such as buying stocks in gold mining companies. A gold IRA is a tax-advantaged retirement account that allows long-term investments in precious metals. In addition, the new IRA is usually financed via an existing retirement account. Customers can then buy gold and silver via the company’s order counter.

Annual fees are generally charged by the account custodian, and storage and insurance fees are more often owed to the custodian than to the Gold IRA company. If you want to open a Gold IRA account to diversify your investment portfolio, protect yourself against inflation, increase your long-term wealth, or achieve any other investment goal, compare your options first. One important rule for knowing how physical gold can be stored in an IRA is that your precious metals MUST be stored at an approved depository agency such as the Delaware Depository Service Company or Brink’s Global Services, not at your home or in a safe deposit box. A high-quality IRA Gold company only works with carefully vetted, reputable third-party storage companies or secured repositories.

Once you’re 72 years old, you’ll be required to accept the required minimum payouts (RMDs) from a traditional Gold IRA (but not from a Roth IRA). Anyone who wants to buy precious metals or set up a Gold IRA is free to do so at a price they’re happy to spend. Many of the leading Gold IRA companies have similar fee structures but may vary by a few hundred dollars a year. No other Gold IRA company goes to such great lengths to present investment information in an organized and objective way to earn the full trust of its clients.

To avoid missing the rollover cutoff, many people choose to have their IRA Gold company coordinate the rollover through a direct transfer from institution to institution. Gold IRA companies can vary widely, and choosing the best company for your investment goals is critical if you want to ensure a comfortable and hassle-free retirement. Gold IRAs may not be intended for paper investments, they can hold stocks that are directly related to the mining and production of precious metals. The best way to use a Gold IRA is to use it as an accumulation tool as part of a more comprehensive, diversified investment strategy.

Like a traditional IRA, a Gold IRA allows pre-tax contributions, and investment income can then accumulate in deferred tax terms. …

Gold has proven to be a source of steady and stable growth compared to the more volatile stock market, so more and more bond investors are turning to gold IRAs. It’s a way to diversify and hedge their traditional IRA portfolios against market volatility and inflation. In retirement, you need an investment that either generates current income or that is reasonably expected to increase in value so that you can sell and use it for consumption in the future. You’re essentially wasting tax-deferred space on something that doesn’t generate income. This means that you are not protected against taxes.

As with any other traditional IRA account, the value of the account becomes taxable upon withdrawal. As opposed to owning stocks, mutual funds, ETFs, etc.. Is a Gold IRA an individual retirement account that includes part of the allocation in real gold. To be classified as a Gold IRA, these accounts cannot have paper-based gold investments alone (d. h.,

by setting strict parameters for defining IRA gold, the IRS can ensure that people hold investment-grade assets in their self-directed gold IRA, as opposed to collectibles, which are not eligible for any type of preferential tax treatment. Remember that not every self-managed IRA custodian offers the same investment options. So make sure physical gold is among their offerings before you open an account. With a traditional IRA or other retirement account, you can invest in gold through the stock market by buying stocks of mining companies or mutual funds that hold those stocks. Reach out to reputable outside sources or a paid financial planner for investment advice if you’re not sure if a Gold IRA is right for you.

While the other companies in this area are precious metals providers, Regal Assets is a standalone Gold IRA provider that helps investors set up, finance, and IRS-compliant metal selection processes. Of course, this consideration wouldn’t apply to those who haven’t exhausted their 401 (k) yet, as they could instead deposit into that retirement account while they would dedicate their IRA to investing in gold. Gold IRAs thus allow investors to contribute to their retirement nest egg tax-free while diversifying with alternative assets that can help manage risk. Still, a gold IRA can be a good option for investors who want to diversify their retirement accounts and also take advantage of the hedging benefits that the yellow metal offers over other financial assets, such as paper currency and stocks.

Perhaps the main advantage of a Gold IRA is that it provides bond investors with unique risk management features. A gold IRA consists of a single asset class, and if you avoid the diversity you get with a traditional investment portfolio, you’re more exposed to risk and deprive you of the opportunity to generate income. First, what a gold IRA is and second, what purpose it serves in an investor’s retirement portfolio. Including gold or other precious metals as a significant part of your IRA is usually a long-term mistake due to high costs, relative volatility, and mixed investment balance.

While the majority of IRAs invest in more traditional assets such as stocks, bonds, and cash equivalents, tax legislation also allows “self-directed instruments” that can hold precious metals such as silver or gold. They also make it easier to open your Gold IRA account, but they don’t provide investment advice and you shouldn’t use the marketing material they publish as a guide in this regard. As a result, every dollar invested in a Gold IRA is a dollar that you can’t invest anywhere else while taking up limited IRA space.

Five companies made it onto the list with the most reliable and overall best investor satisfaction. They are Lear Capital, Goldco, Orion Metal Exchange, and Patriot Gold Group. Oxford Gold Group is also a remarkable company that should be on the radar. Here’s what we’ve done to get to our best Gold IRA options.

If you’re looking for a cheap option to invest your money, then Augusta Precious Metals is the best gold IRA company. Augusta Precious Metals IRA offers low prices, an easy purchase process and, above all, a high level of transparency. Want to get started right away? The top three gold IRA companies right now are Augusta Precious Metals, Birch Gold Group, and Goldco. Additionally, many Gold IRA companies are now offering cryptocurrency options for those who want to diversify their portfolios and provide greater stability even under volatile market conditions.

However, one of the trusted and reputable Gold IRA companies on our list can help you clear up any confusion. The best gold IRA companies have experts who specialize in self-directed retirement accounts and can help you set up your account, purchase precious metals, and comply with tax legislation. Most gold IRA companies charge a commission for their clients’ investment strategies when buying precious metals. Even if you already have an IRA or 401,000 holding stocks and bonds, gold IRA companies can help you convert your paper assets into gold bars and coins using a process known as a gold IRA rollover.

Some gold IRA companies work with specific custodians so you can easily transfer your investment to those facilities. Some companies describe their gold IRAs as “diverse,” because they can contain more than one type of precious metal. Some of the leading Gold IRA companies have over 20 years of industry experience providing secure and effective Gold IRA services. Unlike other gold IRA companies with obscure or confusing pricing structures, it’s easy with Regal Asset. …

A Gold IRA often comes with higher fees than a traditional IRA or Roth IRA, which invests exclusively in stocks, bonds, and mutual funds. Proponents of gold IRAs argue that these costs are worth the peace of mind of being protected from a potential financial apocalypse. But let’s assume that a disaster really does happen. How would you redeem your gold if it was in a depot across the country?

Gold IRAs are a special type of self-directed IRA that allows you to invest in physical gold and other precious metals, such as silver, platinum, and palladium. Investing in a Gold IRA requires the services of a custodian bank, a broker to buy gold, and an approved custodian to store gold. Like other self-directed IRAs, gold IRAs can be traditional or Roth. Patriot Gold Group has a long track record of helping investors secure their financial future through gold IRAs, and has received high marks from consumer groups.

While most IRA investors invest in more traditional assets such as stocks, bonds, and funds, tax legislation allows investments in precious metals such as gold and silver via specialized IRA accounts. Younger investors who have less money to invest in gold could be better off with a traditional IRA and invest in gold equivalents such as gold ETFs or gold mining stocks until they’ve accumulated enough to meet the higher minimum requirements of gold IRAs. Next Avenue asked the agency about these ads and received the information: “The IRS can’t comment on the claims made by a particular IRA organizer, but the agency is warning taxpayers to be careful if someone claims that gold stored in your IRA can be kept at home or in a safe deposit box. If you suddenly need gold to exchange groceries for groceries, you’d first need to call your custodian bank and fill out the necessary paperwork to get access to your own gold.

The tax legislation also states that the gold or silver must be held by an IRS-approved custodian or trustee, although some Gold IRA marketers claim that there is a loophole in this law (more on that later). Those who prefer to invest in stocks of gold companies (such as Barrick Gold), in investment funds of such companies (such as Fidelity Select Gold Portfolio), or in ETFs that track the performance of a gold index (such as SPDR Gold Shares), can do so with a mainstream IRA. No other Gold IRA company goes to such great lengths to present investment information in an organized and objective way to earn the full trust of its clients. Many of the custodian banks and brokers that open mainstream IRAs and invest in traditional assets are unable to open and operate an SDIRA, including a Gold IRA.

The advantage of gold ETFs is that you can buy and sell stocks like a stock and hold them in a conventional IRA or 401 (k). No special account is required. Like a traditional IRA, a Gold IRA allows pre-tax contributions, and investment income can then accumulate in deferred tax terms. Investors who hold their gold for more than a year are subject to favorable capital gains tax rates instead of the normal income tax rates you pay when you sell gold and withdraw the money from an IRA. Popular Gold IRA companies include Orion Metal Exchange, Birch Gold Group, Red Rock Secured, Gold Alliance, Oxford Gold Group, and Goldco, among others. …

Regarding how we should record investment gold in the income statement, the first thing to do is explain what conditions the precious metal must meet to be considered within this category.

The Ninth Annex of Law 37/1992, of December 28, on Value Added Tax determines that “investment gold for the purposes of this Law will be considered gold ingots or sheets of law equal to or greater than 995 thousandths and that conform to any of the following weights as accepted by the bullion markets .

Said legal document contains a list of the weights of investment gold bars, which ranges from 12.5 kilos (banked gold, 400 ounces in weight, which is what central banks usually use) and smaller sizes.

The weight of these bars is expressed in troy ounces (the usual measure of precious metals, which is equivalent to 31.10 grams ); tael (measure used in East Asia, equivalent to 40 grams ); and tolas (used in India and equaling 11.64 grams ).

According to the aforementioned Law, all those ingots whose pure gold content ranges between 350 and 430 ounces (10.88-13.37 kilos) are considered investment gold , in the case of bank ingots.

In the smaller ones, investment gold is considered to be those whose real weights do not differ by more than 2% from those established in the list in the Annex.

Coins

As for investment or bullion coins , they also have to meet a series of requirements to be considered as investment gold.

These requirements are the following:

• That the coins are of a law equal to or greater than 900 thousandths .
• They have been minted after the year 1800 .
• That are or have been legal tender in their country of origin.
• That they are marketed regularly for a price not exceeding 80% of the market value of the gold they contain.

To clarify which investment coins are included in this classification, the Official Journal of the European Union publishes , before December 1 of each year, the list of coins considered as investment gold for the following year.

Investment gold, without VAT

The fact of determining which gold is considered investment and which is outside this category is due to the fact that investment gold, as established in Law 37/1992, of December 28 , is exempt from Value Added Tax ( VAT) .

Gold that does not fall into this category, because it does not meet the conditions established in the annex to the law, is taxed with 21% in said tax. This rate also applies to transactions made with silver bullion and coins, a precious metal that does not enjoy the same tax exemption as investment gold, nor does platinum or palladium.

Therefore, investment gold is considered by the Tax Agency within a special tax regime , in which it enjoys exemption from Value Added Tax.

Logically, this fact constitutes a notable advantage of gold over other metals when it comes to investing, since a rise in the price of the metal above the premium paid for the piece (ingot or coin) will mean a profit for the investor, while in the case of silver or platinum, the increase would have to exceed that 21% to start obtaining profitability.

Investment Gold Taxation

Once the client has sold the investment gold and has obtained a capital gain or capital gain, said gain is subject to income tax , within the tax base of savings .

The amount of the tax is established in sections, depending on the amount of this tax base. Thus, in the 2019 Income , the sections are the following:

• Up to 6,000 euros, 19% .
• From 6,000.01 euros to 50,000 euros: 21% .
• From 50,000.01 euros onwards: 23% .

Finally, and in the event that the investor keeps the investment gold in his possession and does not carry out any operation with it, it is not necessary to include it in the declaration, since it is not subject to tax.

Regarding how we should record investment gold in the income statement, the first thing to do is explain what conditions the precious metal must meet to be considered within this category.

According to the aforementioned Law, all those ingots whose pure gold content ranges between 350 and 430 ounces (10.88-13.37 kilos) are considered investment gold , in the case of bank ingots.

In the smaller ones, investment gold is considered to be those whose real weights do not differ by more than 2% from those established in the list in the Annex.

Coins

As for investment or bullion coins , they also have to meet a series of requirements to be considered as investment gold.

These requirements are the following:

Investment gold, without VAT

Therefore, investment gold is considered by the Tax Agency within a special tax regime , in which it enjoys exemption from Value Added Tax.

Investment Gold Taxation

Once the client has sold the investment gold and has obtained a capital gain or capital gain, said gain is subject to income tax , within the tax base of savings .

The amount of the tax is established in sections, depending on the amount of this tax base. Thus, in the 2019 Income , the sections are the following:

• Up to 6,000 euros, 19% .
• From 6,000.01 euros to 50,000 euros: 21% .
• From 50,000.01 euros onwards: 23% .

Regarding how we should record investment gold in the income statement, the first thing to do is explain what conditions the precious metal must meet to be considered within this category.

According to the aforementioned Law, all those ingots whose pure gold content ranges between 350 and 430 ounces (10.88-13.37 kilos) are considered investment gold , in the case of bank ingots.

In the smaller ones, investment gold is considered to be those whose real weights do not differ by more than 2% from those established in the list in the Annex.

Coins

As for investment or bullion coins , they also have to meet a series of requirements to be considered as investment gold.

These requirements are the following:

Investment gold, without VAT

Therefore, investment gold is considered by the Tax Agency within a special tax regime , in which it enjoys exemption from Value Added Tax.

Investment Gold Taxation

Once the client has sold the investment gold and has obtained a capital gain or capital gain, said gain is subject to income tax , within the tax base of savings .

The amount of the tax is established in sections, depending on the amount of this tax base. Thus, in the 2019 Income , the sections are the following:

• Up to 6,000 euros, 19% .
• From 6,000.01 euros to 50,000 euros: 21% .
• From 50,000.01 euros onwards: 23% .

Regarding how we should record investment gold in the income statement, the first thing to do is explain what conditions the precious metal must meet to be considered within this category.

According to the aforementioned Law, all those ingots whose pure gold content ranges between 350 and 430 ounces (10.88-13.37 kilos) are considered investment gold , in the case of bank ingots.

In the smaller ones, investment gold is considered to be those whose real weights do not differ by more than 2% from those established in the list in the Annex.

Coins

As for investment or bullion coins , they also have to meet a series of requirements to be considered as investment gold.

These requirements are the following:

Investment gold, without VAT

Therefore, investment gold is considered by the Tax Agency within a special tax regime , in which it enjoys exemption from Value Added Tax.

Investment Gold Taxation

Once the client has sold the investment gold and has obtained a capital gain or capital gain, said gain is subject to income tax , within the tax base of savings .

The amount of the tax is established in sections, depending on the amount of this tax base. Thus, in the 2019 Income , the sections are the following:

• Up to 6,000 euros, 19% .
• From 6,000.01 euros to 50,000 euros: 21% .
• From 50,000.01 euros onwards: 23% .

Gold is one of the most valuable metals in the world. A characteristic that derives both from its enormous scarcity and from the physical properties that distinguish it from other materials, and that have made it appreciated by men for many centuries.

How do you know if the gold jewelery that has been handed down from generation to generation in our family with such zeal is authentic or, on the other hand, barely worth it? How can we be sure that an investment currency in which we have deposited part of our savings is pure gold? How can we be calm with that ingot that we have in the safe, despite the fact that it comes packaged in a blister pack?

There are many queries that we have received from our readers on this matter. That is why we want to explain a series of guidelines that can help us detect possible fraud .

The first precaution that must be taken at the source, when acquiring a piece of gold, whether it is a jewel, a coin or an ingot, is to do so in a store of absolute trust and guarantees .

Online commerce has developed in recent years . A sales formula that has enormous advantages for customers, such as convenience or more adjusted prices. However, in the case of gold, you have to be extremely careful when choosing the virtual trade in which you buy.

As is logical, it must be absolutely trustworthy, duly accredited and with the necessary security measures both in transactions and in transport. If you have references from other clients, much better.

And it’s also a good idea to make sure that the original page has been impersonated: check that it’s spelled correctly, that the address doesn’t contain typos, and that there’s nothing suspicious about its layout.

Regarding physical stores, make sure that they have the appropriate security measures and be wary of any irregularity. Better to postpone the purchase than later to have to regret it.

Years ago, a meticulous analysis of the external appearance of the pieces was enough to ensure that they were authentic. Today technology has advanced so much that counterfeits are very good and hard to spot at first glance. However, it does not hurt to draw attention to some external aspects.

Marks : the gold pieces are engraved with some marks of the goldsmith, manufacturer, refinery or laboratory that accredits them as gold pieces and certifies their purity. A good magnifying glass will be enough to verify that they are present. The different designs can be compared by performing a simple internet search, depending on the maker’s mark and caratage.

Logically, this verification is not 100% secure, since the brands can also be counterfeited. But it is possible to detect possible counterfeits if the marks are irregularly engraved or not clear enough.

Wear : in some pieces of jewelry and coins with a certain age, it is necessary to pay attention to the areas that may have greater wear due to use. If a metallic color other than gold is observed in these areas, it could indicate that the piece is made of another metal, with a fine gold coating.

Hardness : Gold is a very soft metal , compared to others. Hence, that characteristic image that we have seen in the movies, of the merchant who bites into a gold coin to verify that it is authentic, makes sense. Gold is soft enough that the imprints of the teeth can be imprinted on it. Excessive hardness should make us suspicious, although it is not definitive proof, since it may be a superficial layer of gold.

Sound : as in the previous case, in many movies we have seen how gold coins are thrown on a marble surface to detect possible irregularities by sound. Pure gold should give off a clean clink as it bounces off a smooth, hard surface like marble. If it sounds hollow or with a deeper sound, we should be wary. As a curiosity, this is the reason why the counters of the old shops were made of marble.

Gold has very particular physical properties, which make it a highly valued metal and which are why it is used to make coins, jewelry, or even an important raw material in the electronics industry.

Density – One of these characteristics is its density. Gold is one of the densest metals. When we hold a piece of this metal in our hand, the first thing that strikes us is its weight in relation to its small size . That’s because its density is 19.32 grams per cubic centimeter. This means that gold weighs 19 times more than water .

The density of gold is a property that was used by prospectors to isolate this metal from the earth with which it was extracted: by ‘washing’ this earth with a current of water, the gold grains, heavier than the rest, are deposited in the bottom of the rafts, while the earth went away with the water.

With a precision balance, a millimeter glass and water, we can carry out a rudimentary test of the gold piece that we want to check. You just have to weigh the piece, fill the glass up to 0 and submerge the piece. Verifying how far the level has risen, we can know its density which, depending on its purity, would be the following: 11.57 gr/ml for 10-carat gold ; 13.57 gr/ml for the 14 carat one ; 15.58 gr/ml for the 18 carat one ; and 19.32 gr/ml for the 24-karat one .

Although we cannot be absolutely sure of the authenticity of gold, the truth is that refineries and mints are increasingly including more sophisticated security systems that make it difficult to counterfeit. In fact, some of them have even devised systems to identify the bars even though they are packed in a blister pack.

In any case, by adopting the proper precautions, being wary of suspicious elements, both in terms of cost and appearance, and turning to guarantee dealers, we can be calm regarding the authenticity of the gold we buy.…

There are many queries that we have received from our readers on this matter. That is why we want to explain a series of guidelines that can help us detect possible fraud .

The first precaution that must be taken at the source, when acquiring a piece of gold, whether it is a jewel, a coin or an ingot, is to do so in a store of absolute trust and guarantees .

Regarding physical stores, make sure that they have the appropriate security measures and be wary of any irregularity. Better to postpone the purchase than later to have to regret it.

Gold has very particular physical properties, which make it a highly valued metal and which are why it is used to make coins, jewelry, or even an important raw material in the electronics industry.

There are many queries that we have received from our readers on this matter. That is why we want to explain a series of guidelines that can help us detect possible fraud .

The first precaution that must be taken at the source, when acquiring a piece of gold, whether it is a jewel, a coin or an ingot, is to do so in a store of absolute trust and guarantees .

Regarding physical stores, make sure that they have the appropriate security measures and be wary of any irregularity. Better to postpone the purchase than later to have to regret it.

Gold has very particular physical properties, which make it a highly valued metal and which are why it is used to make coins, jewelry, or even an important raw material in the electronics industry.

There are many queries that we have received from our readers on this matter. That is why we want to explain a series of guidelines that can help us detect possible fraud .

The first precaution that must be taken at the source, when acquiring a piece of gold, whether it is a jewel, a coin or an ingot, is to do so in a store of absolute trust and guarantees .

Regarding physical stores, make sure that they have the appropriate security measures and be wary of any irregularity. Better to postpone the purchase than later to have to regret it.

Gold has very particular physical properties, which make it a highly valued metal and which are why it is used to make coins, jewelry, or even an important raw material in the electronics industry.

The world is experiencing moments of uncertainty, not only because of the threat of death that hangs over citizens, derived from the coronavirus pandemic, but also because of the fear of the economic crisis that will make its effects felt when the virus has been defeated. There are many proposals that are being launched in recent times, although there is one that interests us in particular: would an eventual return to the gold standard be the solution ? We will dedicate this post to discussing it.

The gold standard has been an economic model in force for many years in the Western world and which proved its validity until, in 1971, US President Richard Nixon put an end to its last reminiscences, granting absolute monetary power to the Federal Reserve which, until the date, has led us to several financial crises on a global scale.

After the 2008 crisis , various analysts from the United States, Europe and Asia questioned the current economic model , which had caused dysfunctions such as the housing bubble, the dot-com bubble, the subprime mortgage crisis and, in short, the devastating financial crisis that began in 2008 with the collapse of Lehman Brothers.

What was called into question at that time was the economic model based on the dollar standard, which was adopted from 1971, when Nixon suspended the convertibility of the dollar into gold , annulling what was established in the Bretton Woods Agreements (1944) and giving the Federal Reserve enormous powers and ability to increase money in circulation.

As an alternative, the analysts did not propose any of the other currencies that, at different times, had been considered safe havens (euro, sterling, Swiss franc, Japanese yen, Chinese yuan). What they raised was a possible return to the gold standard .

In fact, even the United States Congress went so far as to create a commission that brought together economists, historians, and bankers to debate the issue.

What we want to raise, in light of the economic crisis that is looming after the Covid-19 pandemic, are the possible benefits that a return to the gold standard would bring.

Before we even imagined what was coming our way, a current of economic thought was launched in the United States, which advocated real, hard and hard money: ‘Sound Money’ .

A current headed by Ron Paul , an American Republican politician, twice a candidate for the presidential elections (2008 and 2012) and, in both cases, controversially defeated by John McCain and Mitt Romney.

Paul was the creator of the Freedom Party. A follower of the Austrian economic school and the Mises Institute, the Texas politician is one of the staunch defenders of precious metals as a means of payment and a return to the gold standard.

In fact, one of his followers is the Republican representative for the state of West Virginia, Alex Mooney , author of a bill, presented to the United States Congress in April 2018, which proposed a return to a monetary system based on on the gold standard .

His arguments could not be more forceful: since the gold standard was abolished as such, in 1913, the dollar has lost 96% of its purchasing power . Only since the year 2000, the US currency is worth 30% less. And with the 2% inflation target set by the Federal Reserve, the dollar will lose half of its purchasing power in each generation (35 years).

By contrast, with the gold standard in full force, the US economy grew at an annual rate of 4% , double the rate achieved since 2000.

It is not strange that this movement has achieved that the parliaments of dozens of states of the Union have approved laws favorable to the use of gold and silver as means of payment, eliminating the taxes that were levied on them.

According to a study carried out by AdriánRavier , an economist at the Juan de Mariana Institute , there are sufficient arguments to think that a return to an updated system of the gold standard could be the real solution to the global financial crisis of recent years.

According to this study, the arguments against the gold standard by important names in the economic world, such as the former presidents of the Fed Alan Greenspan and Ben Bernanke , or the economist Paul Krugman , are easily refuted.

From this Institute they deny that the gold standard was the cause of the American Great Depression of 1929-33 . In those same years the pattern was in force in Canada, a country that did not suffer the economic panic of its neighbor to the south. Rather, it was Federal Reserve policy that ultimately caused it.

In addition, a transition to this system would not be particularly costly (as happened in the EU with the introduction of the euro), since it would not be necessary to redenominate prices, nor would prices go up suddenly, if the proper parity between the currency and gold is established.

According to the experts, the reasons that led to the devaluation of the dollar against gold, in 1933, by the then US President Franklin D. Roosevelt , and to the inconvertibility of the dollar, in 1971, decreed by Richard Nixon, was the deficient operation of the agency that sets monetary policy, the Federal Reserve.

The impossibility of returning to the gold standard is also argued because there is not enough metal. Actually, it does exist; it is enough to correctly define the price of the coin in terms of gold , avoiding, as now happens with paper gold, an imbalance between the existing metal and the supposedly necessary to guarantee the contracts.

The only real problem and main obstacle to the reintroduction of the gold standard is that it cannot be a unilateral decision of a country, but rather a global return to the gold-based system.

And it is that, as the expert on monetary issues Friedrich Hayek pointed out in 1943 :…

In fact, even the United States Congress went so far as to create a commission that brought together economists, historians, and bankers to debate the issue.

What we want to raise, in light of the economic crisis that is looming after the Covid-19 pandemic, are the possible benefits that a return to the gold standard would bring.

Before we even imagined what was coming our way, a current of economic thought was launched in the United States, which advocated real, hard and hard money: ‘Sound Money’ .

By contrast, with the gold standard in full force, the US economy grew at an annual rate of 4% , double the rate achieved since 2000.

The only real problem and main obstacle to the reintroduction of the gold standard is that it cannot be a unilateral decision of a country, but rather a global return to the gold-based system.

And it is that, as the expert on monetary issues Friedrich Hayek pointed out in 1943 :…

In fact, even the United States Congress went so far as to create a commission that brought together economists, historians, and bankers to debate the issue.

What we want to raise, in light of the economic crisis that is looming after the Covid-19 pandemic, are the possible benefits that a return to the gold standard would bring.

Before we even imagined what was coming our way, a current of economic thought was launched in the United States, which advocated real, hard and hard money: ‘Sound Money’ .

By contrast, with the gold standard in full force, the US economy grew at an annual rate of 4% , double the rate achieved since 2000.

The only real problem and main obstacle to the reintroduction of the gold standard is that it cannot be a unilateral decision of a country, but rather a global return to the gold-based system.

And it is that, as the expert on monetary issues Friedrich Hayek pointed out in 1943 :…

In fact, even the United States Congress went so far as to create a commission that brought together economists, historians, and bankers to debate the issue.

What we want to raise, in light of the economic crisis that is looming after the Covid-19 pandemic, are the possible benefits that a return to the gold standard would bring.

Before we even imagined what was coming our way, a current of economic thought was launched in the United States, which advocated real, hard and hard money: ‘Sound Money’ .

By contrast, with the gold standard in full force, the US economy grew at an annual rate of 4% , double the rate achieved since 2000.

The only real problem and main obstacle to the reintroduction of the gold standard is that it cannot be a unilateral decision of a country, but rather a global return to the gold-based system.

And it is that, as the expert on monetary issues Friedrich Hayek pointed out in 1943 :…