If you are fond of collecting gold coins, then you must know the ins and outs while you nurture this hobby. It can be a very rewarding and lucrative hobby if you are doing it properly otherwise it can end being a very costly affair. Half of the battle lies in knowing which coins to buy. Gold coins can be separated into various types. These are standard gold bullion coins and the other types of coins are rare collectible coins. Most gold bullion coins go for less then their weight value in gold. On the other hand collectible coins go for much more depending on their value in the present market.
When you are purchasing a gold coin, make sure that you get a certificate of guarantee of the value from the dealer. It is of no harm if you are getting yourself educated. You must know the difference in the grading and evaluation process. It will become easier if you have thorough knowledge and are able to spot a good deal. This will also help you to spot a deal if you are selling it for less than worth. Study the gold market very thoroughly and be prepared to sell when the market changes. Your main intention is to earn money by selling gold, so study the market fluctuations very keenly.
Gold industry is a very lucrative market. You should also be wary of this kind of market. The prices of gold can rise and fall in a fraction of a second. This has often pushed many collectors and entrepreneurs and change their mind at the drop of a dime. Due to the fluctuating gold market, many people have either gained a lot or lost a lot of money when the market prices changes. So it is suggested that you must be aware about the market changes and make a good deal of investment.
This entry was posted on Wednesday, February 4th, 2009 at 5:10 pm and is filed under Investment. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Very sound advice…thanks for the post
I have to disagree with you about bulllion coins. They usually trade at almost exactly the price of gold per troy ounce.The majority of bullion coins are actually 1 ounce (apart from fractional and special coins).
The only differential on Gold bullion coins is the profit margin for the dealer. This is normal in trade. Bullion coins are pretty much the same as gold for all intents and purposes.
If you want to get the best price for your gold you should shop around for the best offers.
Collectors coins however DO have a substantial margin between buying and selling prices .This can be up to 15 or 20%.
Proof bullion gold coins seem to retain their value much more.
There are a number of articles on buying and selling gols coins on our website.