Look, we get it. You’re practically obsessed with gold and you have to get your hands on it as soon as possible. The truth is that a lot of newbie investors share this dream of yours, but it’s important to know everything there is to know about this type of investment before making a move!

First of all, do you even know how gold is measured? If this question has been bugging you for quite some time now, you’re in luck because we’ll make things crystal clear for you! Find out more on this page.

We want you to know that gold is traded in the US using grams and ounces. There, simple as that!

For those of you into etymology, the Latin word gramma, from which we get the word “gram,” basically means “small weight.” So, you should know that a gold item’s precise gram weight can be determined when it weighs less than an ounce.

You’ve probably heard the term “Troye Ounce” a lot when you’ve talked about gold with other people. If you don’t know exactly what it is, check out the things we’ve explained below: 

What is a Troye Ounce?

“I want to know How Many Grams in an Ounce of Gold before I make my purchase.” Great!

Get ready because the word “ounce” will be thrown in a lot in the following paragraphs. First of all, folks, we want you to understand that gold is not weighed in regular (Imperial) ounces like other metals. The Troy Ounce is the standard unit of measurement for gold and other precious metals.

It is still widely used in the gold trade despite the fact that many other measures dating back to the commencement of the metric system have adapted to modifications and alterations. You can assume that any reference to “ounces” in connection with gold is making reference to the Troy Ounce and not the standard (Imperial) Ounce.

Everyone involved in the buying and making of gold-related goods uses the same standard unit of measurement known as the Troy Ounce.

One unit of the Troy weight system used to quantify precious metals is the Troy Ounce. The standard amount of weight for an Ounce is 28.35 grams.

However, there are exactly 31.1034807 grams in a Troy Ounce. There isn’t much of a difference between the two sorts of Ounces in terms of size, but those extra 2 or 3 grams of gold weight can make a noticeable impact.

Here’s a cute little example for you. A ring that weighs one Troy Ounce will be somewhat larger or thicker than an identical ring that weighs one standard Ounce.

Now that we’ve covered that, it’s time to learn about how to safely buy gold to have your very own treasure chest. Yay!

Stick to physical gold

What is a Troye Ounce?

We can all agree that futures contracts, exchange-traded funds (ETFs), and other financial vehicles all exist to help you invest in gold. While these options are more practical, they do not offer the same level of security or assurance as purchasing gold in physical form.

So, amazingly enough, if you have gold in the form of bullion, you own it outright and may do whatever you want with it.

Oh, and you can find plenty of online reliable companies to buy your bullion from. But, listen up all of you newbie investors! Once you get your hands on some physical gold, find a secure location to store it ASAP. Check out this link for more helpful info https://medium.com/@leonwilfan/beginners-guide-to-buying-gold-bullion-cf795cec36e5.

Only buy pure gold

The value of this precious little yellow metal is based on its weight and purity, and most gold bullion will have these specifications, as well as the name of the mint that produced it and stamped somewhere on the object.

We want you to know that an investment in something that is at least 99.5% pure is the best bet. But, hold your horses, because you should get a second assessment from a trusted source regarding the gold’s purity before making any rash decisions. It’s always better to be safe than sorry, folks!

Compare different prices

We’re here to tell you folks that getting the greatest price on bullion may require some shopping around. So be prepared to do your homework in advance to avoid draining your wallet.

Awesomely enough, there are plenty of reasonable offers on gold from different precious metals companies, so you won’t waste a lot of time trying to figure out what works best for your finances.

Although low prices are basically music to our ears, you should stay away from sellers that charge excessively for shipping, payment processing, authentication certificates, and other administrative costs. Why is this important? Well, fees like these will drive up the total price of your transaction and distort your profits.

Buy from reliable sellers

You probably can’t wait to get your hands on this precious little yellow metal. While we’re glad you’re trying to invest in gold, it’s important to know where you’re buying your gold from.

What we mean to say is that you should only stick to reliable and licensed sellers that won’t try to scam you. Luckily, there are plenty of websites that review various companies you should definitely check out! The more helpful information you’ll discover, the sooner you’ll be able to make the smartest move possible.

By Aamer Khan Lodhi

Top-Rated Freelancer, Digital Marketer, Blogger, SEO, Link Builder

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