In the current world that we live in, reality for many people is that they want to invest in solid growth products, but they just don’t have the money to make any major moves. That is how we are starting out in 2010, but it’s important to know that just because you don’t have a ton of money does not mean that you should be shut out of the gold investment market. There are some good cheap gold investments for 2010 that people need to think about if they have been wanting to grow their money. Gold can help with that process, especially with the way the economy is going right now.
Investing in cheap gold coins
Some of the one-ounce gold coins out there can be purchased for very cheap. You do not have to go into a bank with thousands of dollars and you don’t have to have a pile of money sitting in your bank account. American Eagle coins, for instance, can be purchased for $50 each. This means that for a few hundred dollars, you could own a nice bunch of these coins and you could start seeing returns when the price of gold goes up. This is the entire idea behind investing. It does not have to be big in order to be effective. Sometimes, just getting your start in gold investing is the most important thing, because then it becomes easier to build from there.
Investing in small mining stocks
There are some gold mining companies out there that would qualify as “blue chip”. Their stocks are worth a lot and it would be hard to own any significant number of shares without breaking the bank. Other gold stocks are not like this. They are stocks of small, exploratory mining companies that are just starting up or just breaking out in the gold industry. They will have low stock prices in the beginning, so you can buy lots of shares for only a few hundred dollars. From there, the price of the stock will be effected by lots of different things, including the profit margins of the company, the price of gold, and the possibility that a large mining company will buy out your small upstart in the coming days.
Gold jewelry as an investment
When you are looking for cheap gold investments, you sometimes have to get creative and become a bit more resourceful. As far as gold investing goes, you can sometimes do well when buying cheap gold jewelry. Many jewelers have taken this approach, as they have bought up large quantities of old, broken gold jewelry with plans of selling it to bigger companies. Often times people will only value their gold jewelry for how it looks and how they feel about it at the time. They neglect its true value in a gold weight sense. If you can spot some of these nice, cheap deals, then you can come out ahead with your gold investing in 2010.
No matter which of these cheap gold investments you choose this year, the important thing is getting started. Too many people foolishly believe that you have to have piles of money from the get go to do any real investing. This is just not true and in many cases, finding the cheap gold investments will lead to the best deals and the most profitable opportunities. Look to jewelry, gold coins, and the small stocks as your initial focus and slowly add to your gold investment portfolio. Before you know it, you will have a portfolio big enough that it is worth writing home about.
Read about some other ways to invest in gold for more info.