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6 reasons to buy 1-ounce gold coins
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Chances are you’ve heard about the investment value of gold coins. After all, the precious metal has been used as an investment vehicle for centuries — and it’s only becoming more popular as a way for investors to counteract risk from other types of investments.
However, you’ll come across several options when you shop for gold, like gold bars, gold stocks and even gold IRAs. But, one of the most popular types of gold to buy is gold coins — and that includes 1-ounce gold coins.
Compare your gold investing options now.
6 reasons to buy 1-ounce gold coins
These types of gold coins offer several benefits to investors, but some of the biggest reasons to buy these coins include:
To add safety to your investment portfolio
“Gold can be considered a safe haven investment for several different reasons,” says Derek Miser, investment advisor and CEO at Miser Wealth Partners. “Gold has been used as a currency for thousands of years and maintains its value over time.”
With that in mind, gold tends to perform well when stock values decline and economic conditions are uncertain. As a result, the demand for gold usually climbs when uncertain economic or market conditions set in. This often leads to growth in the price of gold, which offsets losses from other investment assets.
Add safety to your investment portfolio with gold today.
For the potential tax advantages
Investments in 1-ounce gold coins can come with tax benefits too. For example, if you purchase gold as part of a gold IRA, you could see tax benefits in one of two ways:
- Traditional gold IRA: You’ll purchase your gold on a pre-tax basis.
- Roth gold IRA: The value of your gold will grow tax-free.
There may be other tax benefits to purchasing gold coins too. For example, if you purchase your gold in Michigan, you won’t pay sales tax on your purchase. Keep in mind that state laws differ from one state to the next, though.
To hedge against inflation
“Gold is typically not subject to inflation,” says Miser. When consumer prices rise, the price of gold tends to head up as well. As a result, gold has a history as an effective hedge against inflation. That makes gold even more compelling during inflationary cycles — like the one we’re experiencing now.
To play on the collectability factor
Ultimately, many 1-ounce gold coins don’t just derive their value from the fact that they’re made of gold. There’s a collectability factor involved as well, as the mints that produce gold coins typically only make limited quantities of each. As a gold investor, you may decide to invest in collectible gold coins today to sell them for a premium later.
To take advantage of high liquidity
“Gold is highly liquid,” says Miser. “It can easily be bought and sold in various different forms.”
The high demand for gold, and the compact size of 1-ounce gold coins, help streamline the buying, selling or trading process.
Easy storage
It’s important to store 1-ounce gold coins securely, but gold coins are relatively small in size. As a result, it’s easy to store this asset in a safe at home, in a safe deposit box at your local bank or a gold depository.
The bottom line
There are several reasons to add 1-ounce gold coins to your investment portfolio, so it may be worth considering for you. Start by comparing your gold investing options to tap into the safety and stability gold investments while taking advantage of the other benefits this type of investment asset offers.
CBS News
10 newborn babies killed after fire engulfs hospital ward in northern India, injuring 16 others, authorities say
A fire tore through a neonatal intensive care unit in a hospital in northern India, killing 10 newborn babies and injuring 16 others, authorities said.
The fire occurred late Friday at a hospital in Jhansi city in India’s Uttar Pradesh state. Officials said the blaze spread quickly through the ward, where 55 infants were being treated. Forty-five babies were rescued and are receiving medical care, said Bimal Kumar Dubey, a local official.
It was not immediately clear what sparked the blaze. Brajesh Pathak, the deputy chief minister of the state, visited the hospital and met with families on Saturday. He pledged government support for the victims’ families and promised a thorough investigation.
“We will identify those responsible for this tragedy and take strict action. The government stands with families during this difficult time,” he said.
AP
When the firefighters arrived, the ward was engulfed in flames and plumes of smoke. Rescuers had to break through windows to reach the newborn babies. Eyewitnesses said the rescue operation began about 30 minutes after the fire erupted, delaying evacuation efforts.
The accident has raised questions over the hospital’s safety measures. While fire alarms had been installed in the intensive care unit, parents and witnesses said they did not activate during the blaze. Hospital staff acted only after they saw signs of smoke and fire.
“If the safety alarm had worked, we could have acted sooner and saved more lives,” said Naresh Kumar, a parent who lost his baby.
Akhtar Hussain, whose son was rescued and is receiving treatment in an adjacent ward, agreed that the tragedy could have been prevented if the hospital had better safety protocols.
Fires are common in India, where building laws and safety norms are often flouted by builders and residents. Poor maintenance and lack of proper firefighting equipment in the country also leads to deaths.
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