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How to Buy Gold Coins

Blog Oct 15, 2010

Buying gold coins is an easy process once you understand how it works.  Once you have made one purchase it becomes much more comfortable.  The most difficult part is always doing something for the first time.  Therefore it is important to get educated on the different types of gold and what they can do for you in your portfolio. Once you are armed with this knowledge acquisition of gold coins is easy.

There are two different types of gold coins that are available in the market place today; bullion and numismatic.  Bullion coins are coins whose value is derived strictly by their gold content.  These types of coins include the American Eagle, Canadian Maple Leaf and the South African Krugerrand.  Many countries have their own mints in which they mint bullion coins for sale to the public.  The most popular gold bullion coin is the American Eagle as the gold content is guaranteed by the US Government.

Gold bullion coins can be purchased all over the world for the spot price plus a premium for being mined, minted and marketed.  Typically gold bullion keeps up with inflation over the long-term and therefore maintains purchasing power.

The other type of gold coins is referred to as numismatic gold coins.  These coins have a collectable value to them which gives them some advantages that bullion does not have.  Numismatic gold coins are also referred to as rare gold coins.  US rare gold coins were minted between 1795 and 1933 when gold was confiscated.  When gold was confiscated by Roosevelt in 1933, numismatic gold coins were excluded, therefore many people believe that if gold was confiscated again that rare gold coins would again be excluded.

As of the current law, rare gold coins are private.  This means that they are non-reportable on the buy and the sell side.  Many people see this as a major benefit in addition to possible confiscation protection.

Another benefit that people enjoy with rare gold coins is the long-term appreciation.  Rare gold coins in many instances have outperformed gold bullion by a wide margin.  In fact, according to PCGS charts, over the last 40 years mint state rare gold coins have outperformed gold bullion close to 4 to 1. 

These three benefits are why so many people believe that rare gold coins are the best way to own gold.  Now you have a base of knowledge from which to further educate yourself and buy your first gold coins.

Thumbnail Photo We believe that everyone deserves a properly developed strategy for financial safety.

Lynette Zang

Chief Market Analyst, ITM Trading

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