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Buying Gold Coins – Everything You Need To Know

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Why You Can Trust Bankrate

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. Weve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.

Our investing reporters and editors focus on the points consumers care about most how to get started, the best brokers, types of investment accounts, how to choose investments and more so you can feel confident when investing your money.

Investing disclosure:

The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal.

Buying Gold Bullion Online With Apmex

Throughout history, Gold has maintained a constant presence and value. The yellow Precious Metals significance cannot be exaggerated, as there is no other metal in the world with its prominence in both history and present-day value. Whether Gold bullion was used in international trade between nations or as a traditional commerce unit, its influence has continued to be the standard by which affluence is measured. Gold bullion transcends language and cultural barriers.

The value of Gold is consistent across the globe. Today, investors buy Gold as a hedge against inflation and market volatility. APMEX carries a large selection of Gold bullion products from bars, coins and rounds, there is something for every investor or collector within our assortment.

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Buying Gold Coins In Person

Shopping for gold coins at an actual coin shop allows you to hold the coin in your hand before deciding to buy or not. Another advantage is being able to ask the owner questions about collecting gold coins. Building a relationship at your local coin shop sometimes means that the owner will help you in obtaining a certain coin. They could hold that coin back if it comes in the store and let you know it’s available.

A brick-and-mortar dealer can also show you how to buy gold coins for an IRA. You can search “buy gold coins near me” to easily see all of the gold dealers in your area.

Equipment You Need To Buy And Sell Gold

1861

Before you begin buying and selling gold, the following are some of the steps you should follow so your venture would run smoothly. They include

  • Test Kit for Gold

In this business, a necessary purchase is a gold testing kit. This is not an expensive purchase. The kit is used to double check the gold carat that a customer wants you to buy. The different acids necessary to test 10k, 14k, 18k, and 22k will come along with the kit.

  • A Professional Jewellery Scale

Having a professional jewellery scale is absolutely essential. The cost might be high at the point of purchase, but in the long run the service it provides is worth it. Using a kitchen scale is illegal in terms of trade. Apart from the kitchen scale not being legal, it makes you and your business seem highly unprofessional.

Ensure that your scale is accurate by taking readings daily. Have records that show the accuracy of your scale in the event that you are asked about it. The questions can be from either an official body or a customer.

  • Buy a Magnet and File

In the gold industry, having a magnet at hand is always of tremendous benefit, so it is better to buy a quality one. A metal file that is used to scrape the outer layer of jewellery is equally needed. The file and magnet are inexpensive and will last for a long period of time.

  • Magnifier Loupe

  • Be Professional

Also Check: How To Start Buying Gold And Silver

Best Reputation: Golden Eagle Coins

Gold Eagle Coin

Established as a family-owned business, Golden Eagle Coins has a nearly unblemished track record with thousands of positive reviews, making it our choice as the online gold dealer with the best reputation.

  • Extensive selection of gold coins

  • Solid online reputation

  • Limited selection of gold bars

Known primarily for its vast selection of gold coins, including collectible and numismatic coins, Golden Eagle Coins’ started in 1974 and maintains a track record of customer satisfaction that is unmatched, which is why it makes our list as the most reputable online gold dealer.

You can’t help but marvel at Golden Eagle Coins’ extensive selection. In addition to the popular coins, such as American Eagles, South African Krugerrands, and Canadian Maple Leafs, investors can also find a great selection of pre-1933 coins, commemoratives, mint sets, and foreign coins from many countries. Golden Eagle Coins also sells silver, platinum, palladium, and copper coins.

Also, you won’t find too many dealers that offer historical currency, such as Confederate notes and Colonial currency. Collectors are also impressed with its selection of ancient Arabic, Greek, Roman, and medieval coins.

Golden Eagle Coins’ pricing is low and competitive, but not quite as cheap as BGASC or SD Bullion. You go to Golden Eagle Coins for its selection and service, not necessarily for its pricing.

Where Do You Store Gold

GOLD AVENUE offers free storage of your purchased gold products. All products are insured in our state-of-the-art vaults. Our safes are protected against theft, damage, and loss at all times.

We store your precious goods in highly guarded vaults in Ticino, Switzerland. You can choose to have your gold bars or coins delivered directly online to your home. Your gold bars and other gold coins as well as your personal information are therefore highly protected and secure. The same applies to your silver, platinum and palladium products.

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The Types Of Gold Coins You Can Buy

As introduced, gold coins come in a wide variety of shapes and forms. Vintage gold that was once used as everyday money has its niche in the marketplace, as does gold bullionthe type of gold coin designed especially for modern-day investors.

The range of weights and sizes of vintage gold coins is virtually endless. It would be impossible to illustrate them with any depth here in this article. In contrast, bullion gold coins made today for investors are a little more uniform in scope. Governments usually mint gold coins in limited quantities.

An outstanding selection of modern gold coins on the market ensures theres something affordable for just about everyone. Here are the common weights and sizes in which modern gold bullion coins are most typically sold:

  • 1/25th ounce
  • 1/2 ounce
  • 1 ounce

Modern bullion coins are minted in either troy ounce or gram weights, no matter their country of origin. Most are struck to .999 or .9999 fineness, though some use the old 22K gold purity. This standardization of weights and purity make it easy to track your total gold holdings.

Rather than single coins, many mints also offer annual sets that include the 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz gold coins within a single package together.

Buy Gold Bullion And Gold Coins Online

How to Buy Gold and Silver

Gold is often the top choice for investors because of its extensive use throughout history. Physical assets of solid gold, like gold coins or gold bars, are respected as an excellent means for trading operations due to its rarity and intrinsic value. Similar to silver, gold is one of the very few precious metals to withstand the test of time as a proven and trustworthy savings and hedge investment strategy.

For many years, gold coins, bars, and bullion items were considered to be a symbol of wealth and luxury. Gold coins, bars, and other forms of bullion were preferred for hundreds of years by many powerful civilizations and nations as a store of wealth and commerce. For this reason, today, many buy gold to protect against inflation and to own stunning, state-of-the-art, and historical pieces of the worlds most famous producers. If you want to learn more about investing in gold and which gold products to buy, take a look at our complimentary Learning Center.

Discover which gold products carry the lowest premiums and what the top best gold coins and bars of this year are by following our blog.

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Buy Gold In Liverpool

GOLD AVENUE allows you to buy gold from Liverpool.

We offer a unique solution to invest in precious metals, coming from the famous MKS PAMP GROUP, Switzerland. You can either wish to store your products in our secured vaults located in our refinery in Ticino, or you can request a delivery to your place in Liverpool, Birkenhead, Warrington, Bootle, Everton, Ellesmere Port, or Runcorn.

GOLD AVENUE is the best solution to invest in Gold from home as you can store your products for free in our vaults. You can operate your online wallet directly from the Mersey region and resell at any time at SPOT price with no Commission. For more information, we invite you to consult our general terms and conditions online as well as our privacy policy at the bottom of the site or to contact us. Our customer service will be happy to help you.

Insider Tips For Selling Your Gold Coins Profitably

Your goal is to make profits from the coins you have purchased so after buying the coins, you have to continue to keep an eye on the value of the coins so that you can know when the values have risen, and then you can sell your coins for profit.

You can continue to keep an eye on the prices on the website of the US mint or check places like www.goldprice.org for the latest prices. It helps to wait a few years after purchasing the coins before selling them because by then the value would have risen considerably and you can earn a sizable profit from selling them.

  • Know the value of gold

In buying or selling, it is essential to keep track of golds prices. Several newspapers and websites give updated news on the prices of gold. It is advised that you keep up with those medium. Do not rush to sell your gold unless what you have is doing extremely well in the market. Sell your gold coins when the prices are most favourable or when you really need the income.

  • A good site to keep watch of gold value is www.goldprice.org
  • Sometimes it is best to wait for years before selling particular coins, no matter how well they are doing in the market.
  • Know the value of your countrys currency

Information on this can be gotten online and in newspapers too. Selling your gold coins when your countrys currency drops is advisable because gold and currency of a country tends to have an inverse relationship.

  • Sell your coins when the demand is high

  • Avoid selling to unsteady buyers

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Best Overall: Money Metals Exchange

Money Metals Exchange

The combination of highly competitive prices, low shipping costs, vast product selection, and an exceptional customer experience lands Money Metals Exchange on our list as the best overall online gold dealer.

  • Free shipping on orders of $500 or more

  • Automated monthly savings plan

  • Purchasing limits apply depending on your payment method and some are very low

  • Shipping can be slow

Founded in 2010, Money Metals Exchange has quickly amassed a customer base of more than 250,000 customers. Its customer-centric focus has translated into highly competitive pricing, personalized service, a pathway for new investors, and one of the best online reputations, making Money Metals Exchange our choice as the best overall online gold dealer.

Customers can easily navigate its website to shop for coins and bullion by category and weight. Beginning investors can get their feet wet in gold investing with an automatic monthly savings plan starting at $100 a month. They advertise the price to be as low as $105 over spot pricing on a 1oz Gold American Eagle Coin.

Shipping is free on all orders over $500, which is not such a high bar considering the cost of gold. For orders under $500, the shipping charge is $7.97. Money Metals offers a three-day return policy and may apply a 5% restocking fee on credit card orders. The dealer also offers a buyback program claiming to pay the highest price among its competitors.

One Ounce Canadian Maple Leaf

Three Things You Should Know Before You Buy Gold Coins

Purity .9999 $50 Canadian face value

Backed by: Commonwealth of Canada

Can also be bought in half, quarter, tenth, and twentieth-ounce denominations

Special Note: Royal Canadian Mints advanced security measures make this the most secure gold coin in the world.

Can also be bought in half, quarter, and tenth-ounce denominations

Special Note: The Perth Mint produces a new depiction of the Kangaroo every year

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How To Buy Gold Coins

Gold coins are an investment that preserve wealth, a hedge against inflation, and a safe haven during times of global uncertainty. Buying gold coins is a great way to purchase physical precious metals as opposed to non-physical gold ownership, such as gold exchange-traded funds , gold exchange-traded notes , futures contracts, and mining stocks. Precious metals, such as silver, gold, and platinum can also be purchased as bars and rounds. Gold coins can be stored in safety deposit boxes or in a secure place in your home. As a value investor, you should try to purchase gold coins as close the Spot contract price as you can. Smaller gold coins, such as 1/10 oz, will have a higher premium — but they may be easier to carry and use in a crisis, particularly given their smaller increment of value.

Gold coins are an investment that preserve wealth, a hedge against inflation, and a safe haven during times of global uncertainty.

Typically, gold coins come in sizes that include 1-ounce, ½ oz, ¼ oz, and 1/20 oz. In comparison to common U.S. coins, a 1 ounce bullion coin is similar to the size of a half dollar, and a 1/10 ounce coin is about the size of a dime.

Why Invest In Gold Bullion Coins

Gold coins offer a unique investment opportunity as you are not only investing in the metal itself, but also the scarcity or rarity of the coin. Many collectors will use mintage as a guide when choosing gold coins to collect. Most larger countries are modern producers of gold coins, while many countries who have been producing them for centuries. Not only do federal governments produce gold coins but there are a number of trustworthy, world renown private mints that do as well.

Gold coins are offered beyond just the 1 oz incremental size. Each gold coin carries a monetary value, depending on the nation’s fiat currency, and are struck with the minimum of .999 pure gold, wherein the Canadian Gold Maple or the Australian Gold Kangaroo are .9999 pure.

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Buying Gold Bullion Coins And Gold Bars

Civilizations have equated pure gold with gods, wealth, and immortality. For centuries, gold bullion has symbolized power and used as a storage of wealth. The fact that gold neither corrodes nor tarnishes not to mention the beauty of the precious metal made it suitable for deities and royalty in ancient civilizations. A gold standard was used as a monetary policy within and between nations but the world gold standard ended in 1976. The 1930s was the last time gold was used in minted coins designated for circulation. Historically, the value of gold was based on perceived rarity and its distinctive color.

Almost half of the new gold consumed each year is for jewelry, 40% is for investments and 10% for industrial purposes. The high malleability and conductivity of gold are characteristics that make gold used in many types of computerized devices. The precious metal is also used in tooth restoration, as an anti-inflammatory, and infrared shields.

Paper currencies have come and gone but gold remains in demand and has an inherent value. Gold bars, gold ingots, gold coins, and Investment Grade Coins are all popular ways to invest in the yellow metal.

What Is A Gold Dealer

How To Buy Gold And Silver Coins Without Getting Scammed

Gold dealers are trusted sources for buying gold. They may sell it in the form of coins, bullion, and even collectible pieces.

Many gold dealers are now online. They offer the ability to shop around the market, checking prices from multiple sellers, as well as how soon it can be delivered.

Gold dealers will often let you choose between receiving the gold yourself or keeping it safe in a vault, and, of course, they will buy gold as well should you decide to sell it.

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