7 Tips For Investing in Gold Coins

Iinvesting in gold coinsn a world where money is often just numbers on a computer screen, gold coins offer something tangible.

It’s a way to diversify your portfolio and gain an extra bit of financial security. Among the advantages of investing in gold coins:

  • Gold rises when other investments go down, helping to stabilize your portfolio.
  • It protects you against inflation.
  • You don’t need to pay capital gains taxes on it until it’s time to sell.

If you’re considering investing in gold coins, here are some tips to follow:

Stick to gold coins from North America

Gold coins minted in North America – such as the American Buffalo and American Eagle from the U.S. and the Maple Leaf coin from Canada – are the easiest to buy and sell. In addition, the gold content in American coins is guaranteed by the U.S. Mint.

Shop around

The U.S. Mint features a coin dealer locator on its website. Use it to find a dealer near you and to compare prices. Aim for the lowest price, of course. And try to avoid e-Bay, where a bidding war can have you paying more than you wanted.

Do your due diligence, and be sure you’ve picked a coin dealer with a good reputation.

Avoid rare coins

Buying rare coins requires more expertise than you might have. Coins may look alike but have different grades, a difference which could cost you thousands of dollars. If there’s a rare coin that you really want to get, find a professional to evaluate it. If you own a coin that you suspect is rare, bring it into Doylestown Gold Exchange for a coin appraisal.

Buy a safe

If you’ve invested in gold coins, you’ll want to keep them protected. You could rent a safe deposit box at your bank, but if you’re really concerned about the security of your investment and want your coins close at hand, you may want to purchase a safe.

Don’t pay too much

Gold is a commodity, and you want to make sure you’re not overpaying. According to Kiplinger’s, you should never pay more than 5 percent to 8 percent more than the spot price.

Choose one ounce coins

American Eagle gold coins come in four varieties: one ounce, ½ ounce, ¼ ounce and 1/10 ounce. But because the fractional coins carry a higher spot price than their one-ounce counterparts, you’re better off buying one ounce coins.

Avoid cold callers

Another tip from Kiplinger’s: If someone tries to sell you gold over the phone, chances are you’re being scammed. Many of these companies make inflated claims – triple your money in 30 days – and offer high-pressure sales tactics.

The Federal Trade Commission says these boiler-room operations will often call people whose names are on the Do Not Call registry.

Let Doylestown Gold Exchange help you invest in gold coins

Gold prices have gone up this year. It’s something that tends to happen in election years. Changes in the political structure tend to lead to uncertainty, and more and more people are looking to invest.

If you’re one of those people, Doylestown Gold Exchange can help. We’ve been providing reliable investment opportunities to people interested in gold coins, silver and other precious metals for more than 20 years.

And remember that potential buyers and sellers can use our website to track the price of gold, silver, palladium and platinum 24 hours a day.

Contact us today and we’ll help you find your footing in the world of gold investment.

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