People will purchase coins for numerous reasons. Some are looking to add gold to their investment portfolio since it is a stable commodity. Other people purchase coins from a collector's standpoint, trying to acquire rare and valuable coins to accomplish their collections that will appreciate in value over time.
Before finding out where to buy coins, you need to choose what type of coins you need to purchase. They're numerous types such as American Eagle coins, bullion gold and foreign coins. By comprehending the type of coin you need to purchase, you can figure out the best place where you can obtain the gold coin at fair prices. Types of coins you may purchase include bullion gold coins, modern United States commemorative coins, rare Usa coins, foreign gold coins and common United States gold coins pre-circa 1933.
Getting a coin dealer isn't as simple as just obtaining the phone book or surfing the web. There are shady dealers who won't hesitate to take you money rather than deliver the coins because they disappear off the face of the world. Always perform the required background check on the coin dealer. Check their background with the Better Business Bureau website and ask important questions regarding their business.
Stuff you should learn about include: how long have they been in the business of selling gold; which kind of reputation have they got with buyers and collectors; how large of a business do they have where they are able to supply you with the coins you would like; what level of knowledge will they possess concerning gold; will they follow any type of organization with a code of ethics; and will they offer any kind of guaranty with every sale.
Your best bet is to work with a coin dealer who's a part of the Professional Numismatists Guild. Members of this guild must follow a code of ethics as well as a collector's bill of rights when it comes to proper sales tactics and fairly representing the value of the coins they are selling. You can also buy gold bullion and coins from participating banks, brokerages and rare metal dealers. One other good source for gold and silver coins is the Govmint.com. Avoid individuals who are just regular jewelry store owners, pawn shops, television ad personalities, online discount sellers or those who are selling coins on Craigslist.
Never work with a coin dealer without a physical store location where one can look at the coin. If the dealer only possess an email address, walk away and work with someone else. It's also wise to avoid any type of dealer, online or otherwise, who only accepts cash or strictly requests wire bank transfers. If you run into issues with your gold purchase, it will be hard for you to track down the dealership and your money to resolve the issue.