How to Buy U.S. Gold Coins
Gold, a perennial currency, has what many fiat currencies lack: intrinsic value. Many experts have shown that gold has a set value whereas fiat currencies like the dollar are prone to inflation. This means that in the long run, the gold price denominated in dollars, yen and pesos, etc., will go up, making an investment in gold a great "hedge" against inflation. Investing in gold is just as easy as finding and purchasing gold in any form: jewelry, bars, nuggets and coins. This article will help you in finding and buying U.S. gold coins.
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Instructions
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Locate a gold coin dealer in your area using your local Yellow Pages or use the Internet to find an online gold coin dealer.
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Decide what kind of gold coin you want to buy or sell. Gold coins come in many different types from commemorative and historical of varying purity to gold bullion coins that are almost pure gold. These coins also come in varying sizes. A good choice for a beginning gold coin investor is to stick with bullion coins like the United States Gold Eagle or American Buffalo.
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If buying at a local dealer, comparison shop and research beforehand to know that you are not paying to much for the coins. Usually, gold bullion coins are sold slightly above the current market spot price of gold that can be found on most investing news websites like msnbc.com or gold-tracking websites. You can buy gold coins in almost any size and denomination but the populat U.S. treasury made bullion coins come in only 4 sizes: .10 oz, .25 oz, .50 oz, and 1 oz.
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Store your coins somewhere safe whether it be a safe deposit box or buried in your backyard, but make sure you will have easy access to your gold when you decide you want to sell it. Some more "cautious" gold hoarders will advise keeping your gold close to home in case of a dire societal problem like the Great Depression, when the government made it illegal to own gold.
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Sell your gold coins at a respected local dealer or online with a gold dealer website. Check the value so you know you know the price you should be getting for your coins.
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Tips & Warnings
If you plan to use gold coins as an investment or a safe haven, remember you don't have to buy them all at once. The price fluctuates, so it is a good idea to buy gold when the price is down in your local currency.
