Should You Buy Gold Bullion Coins for Sale? A Guide
In all, it’s been estimated that around 200,000 tons of gold have been extracted over the course of human history. In that time, people have turned gold into various valuables and treasures, including jewelry, decorations, and coins.
Today, gold coins are still a very valuable commodity and investment for many people. But where can you find gold bullion coins for sale, and what kind of coins should you buy? Read on for everything you need to know about gold coins!
Are Gold Bullion Coins Worth Buying?
Yes! But there’s a lot of research you’ll want to do first to ensure you get a good deal and don’t waste your money. Gold coins can be good investments when done right, but can cost you a lot of money when done poorly.
There are three main things you need to focus on in order to make the wisest gold investment decision. These are the price of gold, the type of coin you get, and where you get the coin.
The spot price of gold is always something you want to consider when buying gold coins. It’s hard to tell you right now what gold will do in the future, but it’s a good idea to keep an eye on the markets and study how gold fluctuates.
Ideally, you always want to buy gold low and sell high. However, gold is more of a long-term investment because of the premiums that come with buying and selling it, so plan on buying gold and holding onto it.
One of the biggest benefits of bullion coins is that they have small premiums and are made with specific amounts of gold in them. For one thing, this means you don’t have to worry about figuring out the rarity of your gold coins. You also don’t have to worry about figuring out conversion rates or weights, which makes bullion coins much easier to buy and sell!
When you have a 1-ounce gold coin, it’s very easy to find out how much it’s worth without needing extra calculations or conversions. That ease makes it a much better investment to work with, and can even help make it easier to sell worldwide.
What About Old Gold Coins?
Many countries once used gold coins for their currency, and these older coins are still prized for their collectability today. The downside is that these older coins, often called numismatic coins, cost more than just their gold value.
Because of their collectible nature, old gold coins often fetch more per ounce than bullion coins. However, coin stores and other places also charge higher premiums, which makes it tougher to make a profit off your investments.
Besides that, do you understand the importance of dates, designs, and mintmarks? What about the condition of the coins? These are all key aspects that will make or break the value of an old gold coin.
If you don’t know which dates and designs are valuable, or you’re unable to spot a fake from a real coin, it’s best to stay away from these numismatic coins. You’re setting yourself up to get scammed or lose money if you’re not careful! There’s a lot to learn about coin collecting if you want to even have a chance of success with it.
As a whole, most advisors recommend that investors stick with bullion coins. They’re far easier to buy and sell without large premiums, and require a lot less specialized knowledge to invest in.
Where Can You Find Gold Bullion Coins for Sale?
There are a lot of places where you can invest in gold coins. But not all sellers are the same!
One place that many people use for coins is their local coin store (LCS). These stores can help answer many of your questions and provide a source to buy or sell your coins. You also have a much better chance of getting legitimate coins and avoiding scams.
However, an LCS also has several drawbacks. For one thing, they tend to charge more for their expertise and physical location and pay less when people sell their coins. Another issue is that they tend to have a fairly limited selection of coins if you’re looking for something specific.
Because of this, many people turn to online stores and vendors for their gold coins. These places are not without their own pitfalls though.
There are plenty of scam websites out there selling overpriced or even fake coins to gullible buyers. Additionally, even legitimate websites often charge more per coin than the actual market value, which makes it tougher to invest without losing your money.
That’s why you should look into businesses like CMI for buying and selling gold coins. They possess both the legitimacy and knowledge of physical stores as well as the convenience of online shopping. You can know what you’re getting and why, without needing to worry about missing something.
Even better, they are able to offer buyers far cheaper rates on gold coins. This is because they require minimum order amounts when purchasing coins. This creates a cheaper, bulk price that helps savvy investors save a lot in the long run!
Some Dangers to Avoid
When you start buying and selling gold coins, there are a few dangers you want to be on the lookout for.
The biggest issue is scams, and they come in all shapes and sizes. Fake coins are always bad, as are enormous markups on coins.
You can avoid getting scammed by fake coins by only buying through reputable dealers. There are always amazing deals online, but they’re almost never worth it. Remember, if it sounds too good to be true, it almost always is!
On the flip side, you may see legitimate coins advertised at a much higher price than what they’re worth. Television and phone salesmen are notorious for pushing you to panic buy. If they’re urging you to close the sale immediately before it’s gone forever, stay away!
And always be cautious when people try to sell you “rare” or “valuable” gold coins. Some coins are rare, but many other common coins are advertised as such to the uninitiated.
Learn More About Buying Gold
If you’d like to find out more about gold coins, or you’re looking for gold bullion coins for sale, we’d love to help!
Feel free to contact us with any questions you have or to start setting up your next investment. We’re eager to help you get started in precious metal investing and help you prepare for the future!