Tips on Buying Gold Coins

Gold-coins (1)

Never buy gold coins based on one vendor.

It’s important to compare gold coin prices between different banks. Gold coin prices differ from a bank to another. Comparing prices between vendors is not that hard, because gold coins have premium prices over gold’s spot market price and its delivery price as a commodity. You can find the spot gold price in more than 100 countries.

 Gold coins are mostly more expensive at banks.

At a jeweler most of the time gold coins are cheaper than banks. Another benefit to buy at a jeweler is that almost all jewelers’ buyback gold coins and also they could lower the price of gold coins in the process, but banks don’t buyback.

Wait till the gold becomes stable.

At the international market gold prices after dropping to $1322 an ounce, gold recovered to $1470 an ounce. Gold prices most of the time are not stable at all. There are always ups and downs in gold prices. My recommendations are that you should wait until the prices become stable.

Gold coins are demonstrated on four weights.

 Gold coins are usually: 1-ounce, one-half ounce one quarter ounce and one-tenth ounce. Recommendations are set for the 1-ounce gold coins, because it has the minimum loss after a resell than others.

You have to be sure of its certification (Quality Assurance).

Check if the dealer is a member of the Professional Numismatists Guild (PNG) this is a big advantage for you. Also if will buy on an Ebay auction check for the seller’s rating, and if the ratings are low try to put this one aside. Even if the ratings are high check why, maybe for buying or selling small items or in other words cheap items, so that one as well try to think twice about buying from them.