More gold questions
pneifert
Posts: 4
Maybe there should be a separate gold forum, huh? I don't understand anything most of you real collectors are talking about. I've been getting a few American Eagle gold proof sets from the mint over the past few years and am interested in getting a few from other countries, to see which I like best. What is the best way to go about this - any websites, reputable dealers, etc? Or are the foreign governments the best way, similar to going directly to our mint? Any pros & cons to each? I don't intend to sell any and we're talking about maybe $2000 per year, so a lot of the talk about taxes and 1099's I assume really don't apply much. Any help would be greatly appreciated. Thanks,
Paul
Paul
0
Comments
Tyler
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
Julian, in your opinion, what is the best form in which to buy gold now, given that the bullion value has gone up over the last couple of years? That is to say, which gold coins carry the smallest numismatic mark-up over bullion value, but the greatest unrealized potential to grow, given scarcity?
Tulving link
For less bulk purchase than Tulving (which has great prices) this place : AJPM also sells a variety of foreign bullion. For small purchases ebay can be a help. I would definitely pay attention to feedback and whether or not something is slabbed though, at least until you know more of what you are looking for.
Buying from the mint is possible at the Royal Mint but they are generally pricey. I haven't looked too much at the other mints.
Chard is a good place to buy, but the shipping can be steep--they don't do well with email, so an overseas call may be needed. I was very happy with them though. PandaAmerica is what I consider a bit pricey (and I was once unhappy with a small customer service issue), but overall most people are pleased with them (including me, except for that one little time.... and I got over it eventually).
Krause has the World Gold Coins which is a great resource for non-bullion shopping.
There are a few websites like Clark Smith and Steinbergs which are fanastic for looking around (and of course shopping) on. I've found both of them to be very reliable. Both will also occasionally sell on ebay too.
Run a search for gold on the World coins forum and you will see plenty.
I've attatched a few pictures I have uploaded previously--I don't do much photo-ing so be warned
On the boards, Trozau has great interest in things gold too.
One thing I don't buy much of is US gold. I love the designs of some, but most of the gold I buy has a much lower premium over melt than the US non-bullion coins. I have exactly one Saint and one Indian, and a couple of $5 and $2.50s, and that's it for US non-bullion gold.
Well anyway, hopefully you will find some of this interesting or helpful in defining what you might like to branch out into
Cathy
If you want to buy American Gold Eagles, which are really bullion gold coins, I'd try one of the major dealers that has already been listed. They also sell foreign bullion gold coins as well.
You must remember that most bullion gold coins don't have much numisnatic or collector value. Their prices go up and down with the gold bullion market. Collector coins are influenced by the bullion market, but derive most of their value from the collector interest.
The upside for numismatic items is higher than it is for bullion coins, but in some other ways so is the risk. Bullion gold has small mark-ups, especially if you are buying the larger (1 ounce) pieces in quantity. Collector coins care a much higher premium over their bullion or melt value, but their value is not directly tied to the bullion markets. Therefore a tiny $1 gold coin can have a melt value of only $30 or so, but as a collectors' item it can be worth thousands of dollars.
Non-bullion coins can still have precious metals, but tend to sell for a larger premium over their metal content. USA, St. Gaudens $20.00 gold pieces are a good example. They have almost an ounce of gold, but it will cost you more than the current price of gold per ounce to buy one usually.