When is the right time to buy gold? Experts recommend building up reserves by repeatedly buying small amounts over a long period of time. This is the best way to even out price fluctuations.
We recommend that gold make up some five to ten per cent of your assets. As a general rule, the greater the risk, the greater the share gold should represent of your investments.
Your gold reserve should consist of both gold bars and coins. As soon as you feel you have enough small coins you can also buy larger gold bars. As a general rule, the larger the piece, the lower the price of precious metal per gramme. It is advisable to have a mixture of coins and bars since coins, in particular, offer a high degree of flexibility and usability.
Within the European Union, as well as in most other countries around the world, gold can be bought tax free, while other precious metals such as silver, platinum or palladium are subject to VAT.
Mintage, a coin’s distinctive edge shape and face value, are the guarantee of authenticity of coins such as the Vienna Philharmonic. Coins can be exchanged for cash on the spot all around the world, whereas gold bars have to be checked for authenticity by banks and traders before purchase because they are more easily tampered with. Such checks can take a few days but they are also for your security.
The best place to store gold is a safe that has been insured accordingly, though banks also offer safes for storage. To give you an idea of how much space you require, one hundred kilos of gold fit into a shoebox.
‘Bullion coin’ is the international term for a coin made of 24 carat gold or other precious metal and used for investment purposes, such as the Vienna Philharmonic. Bullion coins are of the highest fineness and are traded in ounces (1 troy ounce = 31.1034768 grammes). Vienna Philharmonics in gold and silver are bullion coins.