Gold coins are proven to have a good ROI, although for consumers, buying gold coins should be considered a long term investment. Historical trending shows that gold prices increase during times of global economic stress – and according to analysts we are heading for the worst financial collapse in history.
Buying gold coins whilst prices are still below $1300 therefore is a savvy investment, but before you rush out and part with your hard earned money, take the time to learn about the types of gold coins that are available for a good price.
Types of Gold Coins
There are two types of gold coins, bullion coins and numismatic coins. The former are the most common and less expensive whilst numismatic are generally purchased by coin collectors. Be careful when buying coins labelled as numismatic as the term can be misleading.
Most gold coins on the market are gold bullion and if you are new to investing in gold this is your safest and most profitable option. Many mints around the world produce gold coins of exceptional quality, typically with gold content of 22 carat or 24 carat.
European coins such as the British Sovereign and the Austrian Philharmonic are considered to be among the best manufacturers of gold coins because of their illustrious history and advanced minting procedures. Both coins have a gold content of 99%.
Buying Gold Coins safely
There are several ways to purchase gold coins, but you should shop around to get the best price. The key consideration is how much premium dealers charge – typically three or four percent, but some dealers can charge as much as 15% for some coins.
The price of the coins will be valued on the current spot price, so before you purchase check out the latest gold prices per troy ounce, and don’t forget to add on the 4% percent premium. Gold coins are available in one ounce, half ounce, quarter ounce and one-tenth.
High street dealers generally charge higher premiums, but it depends on the competition. If you live in an area that has a number of jewellers dealing in gold coins you should expect to get a better price. Online traders will always offer better deals for this very reason.
Storing gold coins
Other cost considerations you need to know about are shipping or storage. You have the option to hold your gold bullion in a high-security vault either with a bank or private company, each of which carry a fee.
If you are buying small quantities, it is better to own gold bullion in physical form and store them at your home. Check out the cost of shipping and any added costs a company may charge before you purchase – and shop around for the best deals.
Coininvestdirect.com offer a wide range of gold bullion coins at excellent prices and always endeavour to provide customers with the best deals. To check out our latest offers visit our website today and invest in your financial future.