Buying gold coins can be quite rewarding and potentially profitable. But there are many precautions that certain must be familiar with before buying their first gold coins. These precautions can indicate the difference between a sizeable gain or a huge loss. Some of those precautions may not be as obvious as others.
The initial precaution is that buyers must buy their coins slabbed or straight from the U.S. Mint. The possibility of guying a fake gold coin is very real. The perpetrators can easily produce a fake gold coin that costs $200 dollars in gold, but can sell for thousands. Plenty of times the percentage of gold within these coin are suprisingly low compared to the percentage of gold within the actual gold coin. Even when the coin is real, you are able to nevertheless be ripped off. Gold dealers used to use a fine file to shave off a little gold off of each coin. By the conclusion of the day, they would have a great deal of gold dust that they might sell later. So always find them from the mint or slabbed by PCGS or NGC.
Lets say that you visited a reliable dealer so there isn’t to worry about being ripped off. Well, they’ve their particular methods to rip you off. They sell you a Gold Eagle with a guarantee. A standard Gold Eagle might go for $115. But they could charge you $150 for a Gold Eagle that is guaranteed to grade an MS65 or better. Heck, it could even grade an MS70! The issue with that is that all the Gold Eagles today would grade an MS65 or better anyways. They’ll all grade an MS68 to MS70. So even if it graded an MS65, MS66, or MS67, it will be worth anymore money anyways. Furthermore, these coins won’t grade an MS70. The ones that may have graded an MS70 have already been cherry picked. These companies always provide you with a a month guarantee. When it doesn’t grade the MS65 they guarantee, they provides you with a return if you merely return the coin back in their mind inside a month. The issue with that is, it will take almost per month to grade a coin. Edelmetalle kaufen Kassel And while you’re waiting to allow them to ship your coin back, it is likely to be at least per month for your process. But lets say that you allow it to be by the nick of time. Once they receive your coin, they will refund your money. But, you’ve already lost $25-$35 dollars to grade the coin and you still have nothing to show.
Buying gold coins depends on the gold market. If that you don’t be cautious, you could end up losing a lot of your money. You find a certain number of gold coins keeps rising in value and it never seems to prevent going up. So you buy in hoping to produce money. It goes up when gold goes up. In bull markets, these coins can go sky high. But once the gold rush has ended, these coins drop to pennies on the dollar. What happened? You got the greater date or common gold coin in the middle of its’rise. It went up with the buying price of gold. You didn’t buy a rare gold coin as you didn’t have the additional $250K laying around. So you purchased this better date for $25K and its’book value kept rising. When gold collapsed, so did your coin’s value. Now it’s worth $6K. What were you thinking about? It may never be worth much more because it’s merely a better date or a common date. It won’t recover until gold goes up to those levels again. You could easily be awaiting 20-30 more years before it recovers. So you might as well sell it and use the money for something else.