Safest Place To Buy Gold Coins
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Like many other products buying gold online can be as easy as point-and-click. The best dealers have a well-organized website with easy navigation to find and compare products by category (i.e., bullion by weight, coins, out-of-mint coins, etc.). With most dealers, once you find the product you want and start the checkout process your price is locked in for a short period, typically 10 to 15 minutes. You need to complete your purchase before the pricing expires, or you may see the price adjusted up or down based on how the market is moving.
Yes, you can store your gold at home (except in the case of Gold IRAs). For those who prefer to keep their gold close to them, the ideal place to store it is a well-hidden, at-home safe. If you do store your gold at home, be sure to check that your homeowner's insurance covers its potential loss or damage. If not, you may need to purchase additional coverage.
They offer a range of gold coins and bars, including coins from the U.S., Canada, Australia, China, and Great Britain, as well as pre-1933 gold, produced prior to the end of circulation of gold coins in the United States.
Like many of their competitors, they have a deals page where you can find gold coins at discounted prices, and they offer currency from a range of countries including the U.S., Canada, Australia, and more.
David Hall Rare CoinsIf you want a personal touch, consider David Hall Rare Coins, where you shop by talking to an agent directly. They sell gold and silver over the phone, including coins and bullion.
If you want to save for retirement, consider a self-directed IRA, and if you're worried about the state of the stock market or inflation of your national currency, gold can be a safe place to store value.
Buy Gold and Silver Coins (BGASC) is one of the largest and most trusted precious metals dealers in the US. With very competitive prices, no order minimum, and free shipping on deals of $5,000 or more, you can snag a pretty good bargain. BGASC aims to always be in stock, ship fast, and provide its customers with stellar customer service. You can choose from a variety of gold and silver bullion coins, bars, and rounds, among other products, and purchase on the website or on the phone with a consultant.
JM Bullion is an exclusively online retailer that offers gold and other precious metals products established in Dallas in 2011. In addition to gold bars, it offers a fantastic selection of limited coin mintages and collections. For example, when we last visited the site it was offering the new Nevada Goldback gold notes, Halloween-themed silver bullion, a unique Australian animal collection from the Perth mint, and the beautiful Wild Canada series of silver coins. The JM Bullion website also has a page highlighting the best weekly deals, and even offers junk silver coins.
Buying gold coins or bars online is a good idea if you do not have time to go from store to store looking for what you want. It also gives you the chance to look at several dealers and their products so that you can get the best price possible. Like we mentioned above, BGASC, Silver Gold Bull, and JM Bullion are all great online dealers to check out.
When you plan to buy gold coins, the first and most important step is to find a reputable dealer with experience and low prices. Gainesville Coins is a trustworthy gold coin dealer with decades of expertise in the gold coin market. Their reputation for honest business and great pricing speaks for itself.
A search engine should help you find several gold coin dealers to choose from. There are also several helpful coin dealer directories you can consult, provided by NGC and PCGS. Follow the links to find a seller with an online marketplace.
It's worth reiterating up front: professional coin dealers are your best option when you shop for gold coins. In most places in North America, there will be a coin dealer relatively close to your locale.
In terms of collectible gold coins, prestigious auction houses such as Heritage Auctions, Sotheby's, and Stacks-Bowers all are known to offer gold coins. This is a good place to find obscure collectibles, but the availability of any particular gold coin you're looking for may be sporadic.
Your local pawn shop will virtually always be willing to buy or sell gold. In fact, they sell gold in many different forms: coins, bars, jewelry, watches, and so on. You may even find them at relatively cheap prices, depending on how important the condition of the gold item is to you.
As a general rule, banks in the United States do not sell gold coins. This has been the case since 1933, when the U.S. abandoned a gold specie standard. You can learn more about this historical turning point by listening to this podcast about the gold standard.
Gold coins are produced in many different countries around the world. As a result, there are plenty of different kinds of gold coins for potential buyers to choose from. Ideally, the best gold coin dealer will carry a variety of these products.
Some dealers may specialize in coins from a particular region or time period. For example, pre-1933 U.S. gold coins is always a popular category. If you're interested in buying specific types of gold coins, you might need to browse around to find the right seller for that specialty.
These two groups of gold products are the bread and butter of nearly all gold coin dealers. Both the classic gold coins and modern bullion are targeted by investors, but the former may also attract interest from coin collectors.
For example, gold bullion coins, such as American Eagles, which are guaranteed by the federal government, have inherent liquidity because they are bought and sold by coin dealers, banks and commercial dealers without question, says Clark.
Many people we speak to ask us where the best place to buy gold bullion is and they often mention eBay. Clearly eBay is a wonderful marketplace to pick up some great prices on almost anything you may wish to buy. However I would strongly urge you never to buy gold bullion through eBay. Gold appeals because it reduces your overall risk of being hit by market downfalls and shocks. So why would you want to take on the huge risk of buying from eBay.
According to Forbes, the best place to buy silver is online. Silver investors should find a dealer with a buy-and-store program to avoid taking physical possession of their assets. This preventive measure will keep their investment safe because the purchased coins and bars would remain securely stored in an approved vault.
In addition to the American Gold Eagle, the best-known coins typically bought and sold for their gold value alone are the Canadian Maple Leaf, the Australian Gold Nugget and the South African Krugerrand.
Many of them began by looking at how they should buy gold coins, and then changed their mind and bought Good Delivery bullion instead. They chose BullionVault because it avoids so many of the costs and problems associated with gold coin investment.
As explained above, owning wholesale bullion in a market-accredited vault is the safer, cheaper and easier way to own gold, silver, platinum and palladium. That said, we recognize that some people also like to keep a little bullion at home, and so we now enable UK users to buy gold coins.
When you buy gold coins and small bars they are priced according to the world market inter-bank gold price. On top, you will pay a hidden mark-up which, though it varies from dealer to dealer, is rarely less than 6% and often much more. When you sell back the discount is typically a further 2%. Buying and later selling gold coins will cost you about 8% of your capital.
Buying and later selling Good Delivery bullion will cost you a maximum of 1.2% of your capital. On larger sums that comes down to about 0.3%. This is much less than the 8% cost of buying and later selling gold coins.
You cannot settle a professional bullion market trade with gold coins. They will neither be delivered to you nor accepted from you. If you buy coins you will have to trade with coin dealers, where liquidity is not nearly so deep and prices are not nearly so competitive as on the professional bullion markets.
Consumers worldwide increasingly demand 99.99% gold coins - and they pay for the privilege. So called four nines gold requires electrolytic refining, and of course the cost is passed through to the ultimate buyer.
No intrinsic value is added with 99.99% refining. In fact if gold coins are later re-cast into large bars (as many are, to be sold at the Good Delivery bullion price) this loses both the cost of electrolytic refining and the 99.99% rating.
When calm returns, and savers are selling, the dealers rapidly become overstocked. The resulting gluts will force them to finance and hedge (which is punitive) or to re-cast their surplus gold coins and small bars as large bars, to sell where the liquidity is deepest.
Although this sort of safe will deter most intruders it will also advertise where the valuables in your home are stored, and it would be unlikely to hold a determined thief at bay for long. An ordinary metal cutting wheel on a household drill, and an uninterrupted hour, would defeat your defences. So it is essential that you extend your home insurance to cover your gold coins.
For those who already have a safe, and who are storing only small numbers of gold coins, the minimum fee of $4 per month makes BullionVault slightly less competitive. Beyond this small quantity you are unlikely to find a cheaper or easier way than BullionVault to both store and insure your gold.
The mathematics of risk for gold storage are well understood, and insurance actuaries know that although there are certainly risks during transportation, an approved long term storage vault within the professional bullion market system is by far the safest place to keep gold.
For a small number of coins, of limited value, often the most convenient and confidential storage solution is at home, in an insurance rated safe. This definitely works best when you do not need to itemise your gold coins nor extend your household insurance. 59ce067264