If you currently collect Gold Coins, I am sure that you have run the gauntlet viewing online auctions, looking for wholesale Gold Coin distributors, finding the BEST price for buying Gold Coins online. All collectors have done this – from researching blogs and forums, to looking through ebay and other auction websites. Some of you are experts and have this system down and feel confident that you are purchasing the “real deal”. However, there are those that are new and perhaps will read this information and change their habits to ensure that their collection is a positive experience.
A few Gold Coin buying Facts and My Opinion on What and Why.
1. Buy Graded Gold Coins. If you are not an expert evaluator of Gold Coins and a scholar of numismatics – then you need to make sure that your investment was first reviewed by someone who is! That is why buying a graded coin through a reputable provider (PCGS, NGC, IGC, etc.) will ensure that your investment is a good one. You will know that it is not a counterfeit (Yes! There are TONS of counterfeits out there), you will know the grade (don’t assume you know what you are looking at if you don’t), you will have a source which verifies thousands upon thousands of coins and provide a solid system to ensure you are in fact buying what you think you are buying.
2. Do not Buy from Toll Free Sellers. We all have been tempted to invest in gold coins through the “Call now and learn the top 10 reasons why Gold…” You know the message. These dealers are typically selling you high volume / low cost gold coins at an extreme premium. The message is that you will gain back your “fee” when you sell through them – but they take another chunk, etc. I almost bought through them but then asked a LOT of extra questions… Come to find out they typically send you PCGS MS62 1904 coins – at the time they were asking $1385 per coin – this is when gold was closer to $900 an ounce. After some research I found that I could buy them through Ebay for about $1025.
3. Don’t Invest just to Invest. So many people have been caught up in the frenzy of the gold rush of 2009 and 2010 that they have bought gold on credit cards or over extended their accounts. Gold Coins should only be purchased when you have the capital to invest and like all investments – LOSE! Yes, LOSE. If you are not prepared to hold onto a coin for a long period – and need the cash – you may lose money to sell the coin. Be very careful about investing in gold coins just to invest. HOWEVER – Gold has been a fantastic investment and in my humble opinion will continue to be – but I have been wrong before.
4. Do your Research. First off, it is fun. You may be investing in a piece of history which has seen more wars than you and I, was around before the TV, Radio, etc. It is truly amazing to hold a gold coin from the 18th century – but make sure you know what you are buying – find comparisons and do research to find a good resource to buy from. We provide a solid partner that we buy from on our website – Buy Gold Coins Online.
Above everything – be safe, trust your gut and have FUN! Collecting is something that I have shared with many people, I have met dozens of folks with a similar interest and I have learned more about Gold, The Gold Standard, Gold Coins, Numismatics, Silver, Bullion, 22kt vs 24kt, etc. than I could have ever imagined!
Happy Hunting & Gathering.
Gold Coins by Carl Finegold – Expert Collector and Amateur Author.
