5 Things You Didn’t Know About Gold
Gold: It’s a global symbol of wealth and has historically been known as a precious metal. When most of us think of gold and silver (and other precious metals), what probably comes to mind is jewelry and other status symbols, but gold can be used for much more than that. If you’ve ever had an interest in adding gold to your investment portfolio, read on for some facts you probably didn’t know about gold.
1. U.S. Mines are a Large Producer of Gold
In fact, mines in the U.S. produced an impressive 211 tons of gold in 2014.
2. The American Gold Eagle Coin is the Most Traded Coin in the World
It’s true! The most traded coin in the world heralds from the U.S.A. In addition, 80% of the gold bullion in circulation in the U.S. is in the form of the American Gold Eagle coin. This official U.S. gold bullion coin was first released in 1986.
3. Gold and Silver are Tangible Assets
This fact is what makes gold and silver and/or other precious metals a great investment and a great way to diversify your portfolio. Having these items may serve to protect you against large losses if other markets fail.
4. Most Gold Bars in the World are Nearly Pure
That is, they consist of 99% to 99.5% pure gold. This means that they are close to 24 karats in purity and 24 karat gold is the purest form of gold there is. When you invest in gold bars, you can feel confident that you are making an investment in gold in a nearly pure form.
5. Gold is Heavy!
The world’s largest gold bar clocks in at 440 pounds and a cubic food of gold weighs half a ton! If you plan to purchase gold, however, don’t expect to find something that big. In the U.S., the heaviest gold bars you can usually buy in a standard gold selling shop are only 10 ounces.
As you can see, there is more to gold and other precious metals than meets the eye! Purchasing gold and silver can be a great way to achieve a diversified investment portfolio and it can also be a safeguard against market crashes.