Buying Gold Coins for the First Time? Don’t Miss These Tips!

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If you want to add more diversity to your investment profile, you should consider gold as one of the better options. Gold is a liquid asset in more ways than one, and it is accepted globally as a precious metal. When it comes to buying gold, there are many options – jewelry, coins, fine timepieces or vintage items. Gold coins are always better, because you are assured of getting the right price.

Below are some of the aspects you need to know.

  • Always go for a licensed dealer. Just check for coin shop near me, and you will find a bunch of options. While pawn shops and individual sellers may offer better prices, always work with a licensed dealer. Licensed and reputed dealers have their credibility at stake, and you can expect to get assistance for selling coins, as well.

  • Know your options. Gold coins are usually 24-karat, and US gold coins come in different dominations, depending on the amount you want to spend. Keep in mind that dealers will charge a premium over the spot price of gold per ounce, which is their profit. You may want to know that difference.
  • If you go for gold coins that weigh less than one ounce, you may have to pay a higher premium on the spot price. Always go for bullion coins, and the most preferred ones are American Gold Eagle coins and Canadian Gold Maple Leaf coins.

  • Please note that collector’s coins are unique and are valued on both intrinsic and numismatic factors, and therefore, the pricing is not same as gold bullion coins. If you are not sure of rare coins, do your homework, and in case you already have a few, always get them evaluated by a seller before selecting a buyer.
  • As experts recommend, always be careful about saving and stocking gold. Do not play around with the coins, and if possible, get a safe at home. You can also choose to keep your gold in bank lockers for better safety. Gold coins that are maintained well always fetch the right price.

Lastly, consider your investment goals before you buy gold. If you want your investment to earn dividends, gold isn’t the ideal choice, but for safety and assured liquidity, nothing works better than gold. Check online to find more on gold coins and take your time to compare different sellers and dealers near you!