How to Convert Cash to Gold

When you think about investments, stocks and bonds are most likely what first pop into your mind. However, there are dozens of different ways you can invest your money, with gold being one of the options. You can take the cash you have and convert it into gold, possibly increasing in value and giving you a larger return.

Instructions

1. Purchase gold jewelry. Not only is the gold jewelry valuable, but it is fashionable. The higher the karat of gold the purer it is, and the more valuable it is.

2. Stop by your bank or credit union. Larger facilities often have different investment options available. Even if gold is not on site, you may be able to invest in it.

3. Purchase the gold from the bank or credit union. The price for gold is listed per ounce, but it is possible to buy the gold in larger and smaller quantities. If you are a member of the bank you shouldn't have any trouble using cash to purchase the gold.

4. Navigate to an Internet site such as Monex.com, Goldine.com or GoldPrice.org. All three of these sites allow you to purchase gold online.

5. Select the amount of gold you want and the form it should take. There are gold coins, bars and a variety of other options, all with the same price per ounce value. To convert your cash to gold, you need to deposit the cash into a bank account and purchase the gold with your checking account.

References

• Monex
• Gold Price
• Gold Line