Introduction
Recent economic and monetary developments have resulted in an increasing interest in "safe haven" assets.
Precious metals (Gold and Silver) have historically thrived in uncertain times as these and the current crisis has been no exception with both metals rising hundreds of percent over the past 10 years.
If you have an interest in Gold and Silver and you live in Australia then this guide should be a handy introduction to the metals. It was written with the beginner in mind, the intention to provide you with the basic knowledge on how and where to purchase bullion, what types to buy and ensure you are comfortable making your first purchase (whether that be through an online dealer, over the counter from a store or in a private transaction with another individual).
For some of us the information in this guide is just a reminder, but hopefully there is enough content here to benefit intermediate and expert Gold/Silver buyers as well as the beginners.
To help get you started with the guide here are some terms that you might not yet be familiar with but may be littered through the guide:
Glossary
Gold: A yellow precious metal (Au, chemical element)
Silver: A silver-white lustrous precious metal (Ag, chemical element)
Bullion: A term which can be used to describe a precious metal in investment form (e.g. a bullion bar could be either Gold/Silver)
Spot Price: The market dictated 'base price' of Gold or Silver
Dealer Premium: The percentage markup charged by the dealer over spot price
.xxx Fine: Purity of Gold/Silver (measured as fraction of total)
AGW/ASW: Actual Gold/Silver Weight signifies Gold/Silver content (Troy Ounces) in coin or bar that is less than .999 fine.
Troy Ounce: Common unit of measurement for Gold/Silver (31.103 grams)
