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 Replies: 14 / Views: 1,741 |
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New Member
United States
9 Posts |
Hi there Guys!
I'm trying to invest in gold bullion coins. But, before I invest in that market, I would highly appreciate it if you can share me the top rules in investing gold coins. Thanks!
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Valued Member
United States
302 Posts |
Never use money you need for bills or to live on. Likewise, never use credit. Never put all of your eggs in one basket.
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Pillar of the Community
Canada
862 Posts |
buy 1oz coin, which has the lowest markup, buy the cheapest 1oz coin, don't be tricked by pretty graphic design, imagine you like a coin so much that you don't want to sell it in the end  |
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Pillar of the Community
United States
2589 Posts |
My advice is to shop around, many dealers will charge a wide range of premiums over face for US gold so you want to visit several before you buy. You also need to decide which type of gold coins you want to buy. Classic US gold provides a numismatic hedge against loss, but also will incur greater premiums from dealers. Foriegn gold coins can be bought at some times near spot from dealers, but likewise will bring you less of a premium when you go to sell them. Modern US gold coins are much more liquid than foriegn gold coins but will cost more and also lack the numismatic hedge that classic US gold brings.
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Pillar of the Community
United States
564 Posts |
Only invest with money you can afford to loose. Choose hold coins that you like and are proud of. It's always best to invest in something you like incase the investment goes bad at least you have something you really like.
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Pillar of the Community
Canada
1502 Posts |
The number one rule to investing in anything is to only invest as much as you can afford. Specific to gold coins though you will want to stick to generic and well known coins if you plan to invest in gold alone and not venture into numismatic value. So, stick with gold maples, eagles, philharmonics, etc. As close to spot as possible, but I would not completely agree with emphasizing on 1oz coins versus fractionals. True, you pay a higher premium per oz on smaller coins but you can sell them back at higher premiums as well. In fact, APMEX (tonight's price) will pay $14.84 over spot for 1oz 2011 gold maple leaf, and 70.72/oz for 1/4oz GML. ratio between sell and buy prices is still higher for smaller coins, but the difference is not as exaggerated as it may seem. |
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Valued Member
United States
257 Posts |
The top rule in investing gold coins?
The first rule of investing in gold coins is: You do not talk about investing in gold coins is. The second rule of investing in gold coins is: You do not talk about investing in gold coins is!
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Valued Member
Philippines
386 Posts |
Quote:
Only invest with money you can afford to loose. Choose hold coins that you like and are proud of. It's always best to invest in something you like incase the investment goes bad at least you have something you really like  |
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Rest in Peace
United States
9104 Posts |
Are you wanting to speculate in gold, or in gold coins? Roughly how much money?
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Pillar of the Community
United States
4008 Posts |
If you are not married to the idea of investing in coins, consider buying some 1-oz. gold bars. They usually have lower premiums than gold coins, so you may be able to buy more gold ounces with your money. Provident Metals recently sold out of their mixed manufacturer 1-oz. gold bars but before they sold out they were selling them for only $16 per oz. over the spot price of gold.
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Pillar of the Community
United States
667 Posts |
There is only one rule that I know of period. Buy with the lowest possible premium over the spot price.
A secondary rule for coins might be don't buy fakes.
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Moderator
 Australia
16837 Posts |
A key rule for successful investing in anything, whether it be coins or anything else, is to not become emotionally attached to the thing you're investing in. When it comes time to sell, you can't let sentiment stand in the way of maximizing your profits.
Which is why it's rarely a good idea to mix your investments with your hobbies. I know I'd be a terrible coin/bullion investor.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
3670 Posts |
"A key rule for successful investing in anything, whether it be coins or anything else, is to not become emotionally attached to the thing you're investing in. When it comes time to sell, you can't let sentiment stand in the way of maximizing your profits.
Which is why it's rarely a good idea to mix your investments with your hobbies. I know I'd be a terrible coin/bullion investor."
I agree 100%, as I collect nothing and sale anything that is not nailed down when the time comes. I enjoy in the time I have, but I figure I can either enjoy a few dozen items for the rest of my life, or I can enjoy 1000's of different items for a short time, and hopefully make money instead of loosing it (or breaking even) on 8 out 10 transactions when it leaves my possession.....
Edited by Silverhawk74
12/21/2011 04:28 am
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Pillar of the Community
Canada
862 Posts |
Quote:
A key rule for successful investing in anything, whether it be coins or anything else, is to not become emotionally attached to the thing you're investing in. When it comes time to sell, you can't let sentiment stand in the way of maximizing your profits.
so true, a realtor told me when investing in real estate, fall in love with the DEAL, not the property |
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Pillar of the Community
United States
4008 Posts |
On the other hand... as Linda Ronstadt once said about falling in love... IT'S SO EASY! |
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Replies: 14 / Views: 1,741 |
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Posted 12/19/2011 11:31 pm
