Where to buy gold coins

[r&j's mom]

Hi everyone,

I've been lurking here for a few years and learning a lot. Anyways, I've been talking to my husband and we're probably going to lower our 401K cont. and take the money and buy gold coins with it. My question is where is the best place to buy gold coins from. Or would it be better to buy silver. I do not want to go through our brokerage house to do this. I'd just like to buy them on my own.

Thanks in advance and Christ's Blessings!

Jenine

[FarmBoy]

Several options are coin shows, local coin dealers, internet coin dealers and ebay. I'd avoid ebay if possible because coin fraud is on the rise there.

Try finding a local coin dealer, they will work with you in finding the right types of gold for your goals and be there to purchase it back when you want to sell.

[Chariots]

Most cities have coin shops. Tell the store owner you are buying for bullion value and not collectable value. Collector coins are like artwork you may or may not ever get the premium price out of the product when you have to sell it.

It also depends on what state you live in. Missouri charges no sales tax on the purchase of bullion coins. They figure its an exchange of currency. However some states will charge a sales tax on a coin purchase. 8% may not seem like much but it does add up. You may have to take a weekend trip to an adjoining state for lower or no tax purchases.

Monex.com has the daily coin price listed for most of the major countries. Print this off the day you make your purchase. This will give you a guide line when you shop between one or two stores.

[Hal4511]

Hi I don't know where you are but there is a very reputable dealer near us ... I sent you a private message

[hoagster7]

Go to http://www.apmex.com or kitco.com

If you go to a coin shop local you have to pay tax and that will be a lot of extra money. Do it thru this way and you have no tax and the markup over spot is much less.

[Rinji]

I couldn't help to not look at this thread.

I'd really like some insurance if things "go wrong". I have thought about investing in gold in the past. But I can't help but to distrust websites, and books on what they tell me ya know?

The resources I have read makes it seem too easy. lol.
What I do know is, if you purchase 1 ounce coins, it's cheaper per ounce that lets say.. 1/20th of an ounce coins according to the prices listed on one site I visited. Yeah I actually did the math on that one. haha

[I'm all 67X]

Is there a difference or significance to purchasing US vs. European coins?

If I remember correctly, there was a gold confiscation at one time? I may be wrong.
:idunno

[FarmBoy]

Is there a difference or significance to purchasing US vs. European coins?

If I remember correctly, there was a gold confiscation at one time? I may be wrong.
:idunno

The issue with European coins is that they come in weird weights. not the 1/4,1/2,1 oz values that americans are used to seeing. American Gold eagles and Canadian Maples are the most recognizable and liquid coins in the U.S.

[FarmBoy]

I couldn't help to not look at this thread.

I'd really like some insurance if things "go wrong". I have thought about investing in gold in the past. But I can't help but to distrust websites, and books on what they tell me ya know?

The resources I have read makes it seem too easy. lol.
What I do know is, if you purchase 1 ounce coins, it's cheaper per ounce that lets say.. 1/20th of an ounce coins according to the prices listed on one site I visited. Yeah I actually did the math on that one. haha

The smaller fraction coins have a larger markup. On a per ounce basis it will cost more for 4 - 1/4 oz coins than a 1oz coin. Some reasons to go with smaller coins are that its all you can afford at a time or you think that you may want smaller denominations for bartering. If you are in the bartering camp you may want to purchase silver instead as it is more affordable and comes in more forms.

[FarmBoy]

Go to http://www.apmex.com or kitco.com

If you go to a coin shop local you have to pay tax and that will be a lot of extra money. Do it thru this way and you have no tax and the markup over spot is much less.


Depends on the coinshop and the friendly owner :hug