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 Replies: 23 / Views: 4,839 |
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Pillar of the Community
United States
3789 Posts |
I might add, the 2014 Somalian gold elephants 1 oz carry a premium above all those coins, are .999 and proof. Superior coin to the Libertad and are in demand.
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Pillar of the Community
United States
899 Posts |
I must have missed something in this thread...
The title is "Which Bullion Coin to buy and why?"
With that as the premise for buying gold... the idea is to buy the product you can get as cheap as you can get it. The key is they are bullion, and reselling bullion is based on the current market value of the underlying product. If you take any 1 ounce bullion coin in to sell - they weigh it and give you what they give you... based on their going rate. Trying to add value to them because they are Libertads or Maples is a game sellers play, major buyers such as the buy gold now places...don't care a single iota about those details.
Numismatic coins are different from bullion. Bullion is about the metal and little else.
Edited by Doug58s
11/10/2013 09:18 am
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Pillar of the Community
 United Kingdom
616 Posts |
Doug every place I know to sell pays different premiums depending on the coin (with AGE always the highest) and none of them are using Numismatic value rather how recognizable it is thus how easy to resell.
My question is really more along the lines of I think I will start purchasing gold as an insurance policy I hope to never need to use. Since I plan to have these coins for a long time I would like to enjoy them while I own them. For me a big part of that will be their appearance. Which of these coins would be most attractive to own relative to price.
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Pillar of the Community
United States
1200 Posts |
There is of course one other option not yet discussed---the concept of the "balanced stack" applied to 1oz gold coins. Buy one of each. It'll probably take
a while, but you'll end up with the liquidity of the AGE, the aesthetics of the Libertad, the Euro flair of the Philharmonic, the extreme purity of the CGM, etc...
As for myself though, I'm with the AGE. In the US, it has the best liquidity and it'll fetch the best resale price. Drawbacks notwithstanding and boring and
monotonous though it may arguably be, I think it's the sensible purchase if you're in the US.
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Pillar of the Community
United States
899 Posts |
starbux... there are 2 kinds of AGE... a bullion coin as well as the Numismatic coins. I went into a coin dealer the other day and he flat out said he buys and sells the bullion based on content and weight. He didn't place any extra value on any bullion coins based on where they come from or who minted them - they are gold and the market value of gold is what he bases his buying and selling of them on. If it is .999% pure gold at 1 ounce you'll get what the market value is less his dealers mark down. He also doesn't sell for more than a few dollars over the current market price either. That is just how bullion is expected to be treated. He also thought it was rather funny that people are trying to place value above market on AGE or even ASE bullion coins - when there is no real added value for them - with millions being produced and sold at the current market price. That said it also depends on who you are dealing with. If your going to a coin dealer you might get a premium on AGE bullion if he is looking to resell them. I would not sell a proof or uncirculated AGE at a premium to a reseller if he wasn't using a Numismatic guide to buy them. Edited by Doug58s
11/10/2013 1:27 pm
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Pillar of the Community
United Kingdom
616 Posts |
Doug.. I am not going to coin dealer but have experience with a few Gold and Silver places. Without exception AGE and ASE are always bought over spot. Maple Leafs are usually over spot and most everything else at spot. But sometimes things like Pandas that are hot can fetch a premium. Heck right now with gold under $1,300 APMEX has a buy price of $1,319 on AGEs, Provident $1,317. Maybe it is just a regional difference. That said I would never try to sell a proof in one of these places that is for sure. |
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Bedrock of the Community
13014 Posts |
Quote:
Numismatic coins are different from bullion. Bullion is about the metal and little else. I agree with that for the bullion versions. To me .999 or .9999 doesn't matter either, in the end its still an ounce of gold and its a miniscule difference. Its not like 40 percent silver where you end up with less pm weight. Quote:
My question is really more along the lines of I think I will start purchasing gold as an insurance policy I hope to never need to use. Since I plan to have these coins for a long time I would like to enjoy them while I own them. I would agree with Freddy you could just get some of all of them then. For what its worth though in the US the AGE will more than likely be the most liquid. The Maples are too but I prefer the AGE design over the Maple. With bullion there is a big advantage to being liquid. |
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Pillar of the Community
Canada
3692 Posts |
Get your country's coin because it's the fastest transaction and offers best liquidity, especially in America where foreign money is shunned.
Think about it this way: if you were going to gift a one ounce coin to your sibling (or whoever) who knows nothing about coins and bullion, which coin would offer that person the most liquidity? Remember, you have to be aesthetically strong enough to hold the receiver's attention, but also to give a more mainstream coin that is identifiable from a book (generic rounds have no book that I'm aware of).
I personally don't mind if my gold is 24k or 22k because I can always work the metal into something I like more than a coin. But remember that while people like me have an actual use for the metals, the person you eventually sell it to will have nothing in their heads except dollar signs, which means they will pay you less for the metal regardless of how mainstream/known your coin is.
So that's my exercise. Pick a coin in your country that every buyer has heard of, that you find enjoyable to own until its transition to its next custodian.
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Replies: 23 / Views: 4,839 |
First Page
Posted 11/10/2013 09:05 am
