VIDEO — Mark Yaxley: Gold, Silver, PGMs — 3 Golden Rules for Buying Bullion

Mark Yaxley: Gold, Silver, PGMs - 3 Golden Rules for Buying Bullion - YouTubeyoutu.be

Speaking from precious metals dealer and secure storage provider SWP's vault in the Cayman Islands, Mark Yaxley shared his three "golden rules" for buying physical bullion.

"(These are) only guidelines," he told the Investing News Network. "They're not hard rules you absolutely have to follow. Just keep that in mind. But they are guidelines that especially newer investors can get a good start with."

Yaxley's three rules are as follows:

1. Gold has lower premiums and total spreads than the other precious metals.
2. Bars have lower premiums and total spreads than coins.
3. Larger bars have lower premiums and total spreads than smaller bars.

Aside from those tips, Yaxley, who is SWP's managing director, spoke about Q3's record central bank gold buying, referring back to the divide between the east and the west, which he mentioned in a previous conversation.

He also discussed the pros and cons of storing bullion products at home versus in facilities like SWP's vault.

"The question becomes, 'How much do I need and how much is safe to keep at home?'" Yaxley said. "My personal rule would be somewhere around $20,000. After that I'm a little bit worried my home insurance policy might not cover those precious metals — generally they're not insurable in your home."

Watch the interview above for more from Yaxley on buying physical bullion, including the top products he recommends and special considerations when it comes to silver and platinum-group metals.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.