HELP: I WANT TO BUY GOLD BUT NEED ADVISE
MS70ORBUST
Posts: 395
Hi, I'm looking to buy some gold coins and need advise on these questions.
1. Is gold a good investment for the future?
2. What kingd of gold should I buy. Example, old coins, new coins, bars?
3. Where is the best place to purchase these gold items?
Thanks for any advise.
*****THANKS FOR ALL THE GREAT COMMENTS. I'M FAIRLY NEW AT COINS AND VALUE EVERY FORUM MEMBERS COMMENT, THANKS.*****
1. Is gold a good investment for the future?
2. What kingd of gold should I buy. Example, old coins, new coins, bars?
3. Where is the best place to purchase these gold items?
Thanks for any advise.
*****THANKS FOR ALL THE GREAT COMMENTS. I'M FAIRLY NEW AT COINS AND VALUE EVERY FORUM MEMBERS COMMENT, THANKS.*****
0
Comments
2. Good Gold, don't buy any Bad Gold.
3. Somewhere that sells them cheap!
Self Indulgence | Holey Coins | Flickr Photostream
Registry 1909-1958 Proof Lincolns
Just my thoughts.
~Wilson
I Like the Washingtons (65+)
I Am beginning to enjoy old halve dollar commemoratives (65+)
I will be President of the United States in 2020
"I learned this, at least, by my experiment; that if one advances confidently in the direction of his dreams, and endeavors to live the life he has imagined, he will meet with a success unexpected in common hours.” ~Henry David Thoreau
Read up and learn what you can, get a feel for the options available to you, see what appeals to you and understand that no one (not even the many bright individuals who post here
If you get lucky and buy at the right time you can make money on it. You can just as easily lose money on it, however. Look at gold as a possible diversification or hedge but understand that it is a gamble.
2. If all you are interested in is gold, I would buy bullion. If you are interested in numismatics and gold, consider coins.
3. Bullion can be purchased at local coin shops or online at Tulvibg and American Gold Exchange.
Numismatic gold can be purchased at a large number of places: ebay, local dealer, coin show, national/internet dealer. It depends on what you are trying to accomplish.
It might be worth going to a coin show* and talking to some dealers and/or searching online for gold coin dealers and emailing or phoning them with your questions. There is no real quick one word answers to any of your questions.
*You might want to try what I did. I went up to the dealer with the most gold coins in his case and said, "I do not know much about them, but I would like to buy gold coins." And now, years later, I have the best gold coin collection on my block! (I think)
2. Depends upon your goals
3. Depends upon your goals
amount. If you have no gold and wish to begin acquiring it then I would
start small now. My favorite are numismatic coins which can be bought
for around gold value. A few years ago there were lots of scarce and de-
sirable modern world gold coins which could be purchased at a discount
to their metallic value but this is no longer the case. There are still many
which can be purchased at only a five or ten percent premium though. This
also applies to many better XF and AU US gold coins.
One advantage of coin is that it's a known fineness and weight but if you
are merely interested in a short term gold play then it's best to buy bars
or bullion rounds.
Next thing you know, you have a collecton.
Liberty: Parent of Science & Industry
I made my second mistake in buying raw coins, I say buy graded coins from any grader that can certify they are real ICG, PCGS, ANACS, PCI, etc...... Most can grade circ coins and if they miss a grade it's not a major drop in price like your high grade stuff.
This satified the collector in me.............
JMO
Tulving.com is by far the best internet source for bulk Gold bullion.
Pay off ALL credit cards, auto loans, home loans before you ever think of buying gold. You pay interest on those items while your gold earns you nothing.
Tyler
<< <i>In my opinion gold makes one helluva crappy investment. It is great to hide money outside of the banking system and it is great if you get it before your nation's currency collapses. Otherwise, it just sits there, not earning a return and eating up storage costs and later conversion costs resellling it to a dealer in the form of a spot spread.
Tulving.com is by far the best internet source for bulk Gold bullion.
Pay off ALL credit cards, auto loans, home loans before you ever think of buying gold. You pay interest on those items while your gold earns you nothing.
Tyler >>
Kind of like coin collect huh? I tell you that the best of both world is collecting old circ gold where you have a minor play in collecting and retain most of your value in gold. I talking about liquid money for fun with an eye on a hedge. I also like to buy bulk silver coins and build sets for the price of spot, not much of a risk there either.
This is a much better investment than all the fancy new cars at 0% interest that people think are bargins. Everyone spends their free money the way they choose, some some smoke it away while other enjoy drinking. In the end it's your choice.
Funny how some on this board will buy all the NT coins of today for the big bucks that maybe considered AT in the future. But somehow high grade coins are a good investment. A down turn in the ecomony all collectables will decline rapidly except what's in the value of the metal of a coin.
I perfer to buy the sets in the modern comms instead of graded ones but I have both. Since these don't bring much over spot they aren't really counterfeited. For the price of a graded coin in plastic at MS/PF 69 you get a free silver dollar or two.
If you know what your willing to pay on Ebay and just keep bidding you'll win quit a few of these. Some auctions go crazy when a new collector hits an auction, I've been a member since 1996.
Good luck
GTS
Best answer I saw. You have some homework to do as recommended by Coinguy1. If you don't want to do the homework, there are many good money managers who can run your investment money for you at a reasonable fee.
Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
No, the weak dollar has inflated the price of gold. Once the dollar firms-up gold will fall.
2. What kingd of gold should I buy. Example, old coins, new coins, bars?
Buy coins, bars have to be assayed coins don't.
3. Where is the best place to purchase these gold items?
Here:
as stated by others, gold has been cyclical- wait for the next drop. ( You might consider gold mine stocks instead)
If you buy coins, find the ones that trade closest to bullion value ( I think the CDN maple leaves and Krugs have a lower premium than the eagles)
Keep in mind, you pay over spot when you buy, and get under spot when you sell, so you need a little run up just to break even.
A witty saying proves nothing- Voltaire (1694 - 1778)
An error does not become truth by reason of multiplied propagation, nor
does the truth become error because nobody will see it. -Mohandas K. Gandhi (1869-1948)
This is a very instructive statement for a gold newbie (but aren't we all newbies). I would add the comment that you can buy 100 year old raw $10 libs in ef/au from a trusted dealer for just a little over spot. When you see that little bit of luster creaping from the rim and around the devices, then you will be able to see if you like it or not. After you have learned how to study the peculiarities of owning US gold coins and read everything you can including counterfeit and altered coins then maybe you can try a venture into loftier acquisitions...but don't rush in. Many have had their wallets slapped for being stupid in this arena. Good luck.
Pre-1900 .
You really have to watch gold prices. If you beleive they will rise (inflation, deficit, oil, flight of dollar) then could be good If you think gold will drop (inflation,deficit,oil,flight of dollar) then hold tight. The price of the coins generally rise/fall with price of gold. You could always start wit hteh modern bullion pieces, beautiful coins, reasonable prices and well gold!
Skerke