You can even buy coins with your Individual Retirement Arrangement (IRA). These coins boast 99.99 gold and come in one-tenth-, quarter-, half-, and … There’s nothing like going to a coin shop, coming out with a small-but-heavy paper bag, and then taking it home and feel the weight of each coin. agree to our, The Top 10 Best Gold Coins to Buy for Investment, FREE Subscription to Our Precious Metals Newsletter. If you are buying gold to store bullion, then purchase the types that carry the smallest commissions on them, which are the ingots and bars made by these refiners. In the days of instant, online stock trading and financial accounts, sometimes money seems almost make-believe. You won’t get dividends or interest from tangible gold. More Krugerrands have been purchased than all other 1 oz Gold coins available on the market. Have you ever considered gold as an investment? You can even buy coins with your Individual Retirement Arrangement (IRA). The Spruce Crafts uses cookies to provide you with a great user experience. If, however, your interest objective is more in line with collecting beautiful coins that also have bullion value, you will have several investment choices. If you love the designs and images on coins and the way it feels to hold them, and the satisfaction of completing sets, then collect coins for their beauty and the enjoyment of the hobby. Take delivery of your gold and store it somewhere under your control, preferably at a bank safety deposit box. Investing in gold coins in other ways. You pay a “premium” over the price per ounce when you buy gold coins, which is how the dealer makes a profit. Isn’t that a little crazy? Our website uses cookies to improve your experience, which can include personalizing advertising. We certainly never see most of our money as a tangible object. You won’t be able to take these coins home. Dealers sell these gold investment bars for a slight premium over spot price. Most common dates of these classic American coins trade at bullion value plus about 8%-10% premium. For very little money, you can rent a safe at a bank for your gold and other valuables. By purchasing gold mining stock, gold certificates, or exchange-traded products, for example, you can gain the advantages of gold’s hedge against inflation, without lugging heavy gold coins around and worrying about where to keep them. Some people may look askance to buy gold coins in this day and age, however. Most common dates of these classic American coins trade at … The United States Mint produces bullion coins for investors, which include offerings such as Gold, Silver, and Platinum Eagles. If you are looking to invest in precious metal coins, then you should buy classic U.S. gold, such as the Saint-Gaudens Double Eagles. Coins must meet standards of purity to qualify as IRA investments. Gold and other hard metals have always been a time-honored part of traditional investment plans. Pure bullion coins include the American Eagles, Maple Leafs, Pandas, and Krugerrands. In the U.S., there's Engelhard and SilverTowne. By using our site, you acknowledge that you have read and She is a member of the American Numismatic Association. Your IRA administrator will keep them in a vault for you. The mint offers these coins in both proof and uncirculated versions for coin collectors and mass-produced versions for bullion on investors. Unfortunately, many of the coins made by these private firms do not contain any precious metals. Top 11 Websites for Coin Collectors and Enthusiasts. Enter your name and email to create an account. In worst-case financial scenarios, such as massive currency devaluation, you can use gold and silver to buy and sell. You may have to wait years for gold to go up in value. What Does MCMLXXXVI Mean on My Gold Coin? As noted above, you can sort of straddle the fence on this by buying classic U.S. gold coins, such as the Saint-Gaudens gold Eagles. While some buyers feel it is not as detailed as other, more elaborate, Gold coin reliefs, this simple design has been around since 1967 and has proven staying power on the investment market. They can sell at a very high premium, and their prices are dependent on more factors. You will be better off to invest in generic gold bullion ingots and bars. premium markups on them because they are rare. File Your Simple Tax Return For Free With Taxact, 7 Ways Investment Gains and Losses Affect Your Taxes, 5 Tips When Using Form 1099-B for Stocks and Other Investments, Investment Spending: How to Spend Tax Refunds and Unexpected Checks, 5 Tips for Filing Your Taxes for the First Time, Why Do I Owe Taxes To The IRS & How To Avoid Them. You won’t be able to take these coins home. Susan is an avid coin collector of over 30 years, and has written 150 articles for The Spruce. Get DIY project ideas and easy-to-follow crafts to help you spruce up your space. Minted by the Münze Österreich AG, the Austrian Mint, it was the best-selling gold coin in Europe by 1990. Or maybe just as a hobby? Don’t even think of hiding gold in your house, unless you have a safe. Recommended as an … You can always invest in gold without actually bringing home any gold coins. These coins have the benefit of double potential: the gold in them will always be worth bullion value, and the bullion is stored in a 100-plus-year-old American coin. The U.S. Gold Eagle, as well as the Canadian Maple Leaf, Chinese Panda, and a few other coins issued by government mints, have premium markups on them because they are rare. If you buy gold coins from individuals or from anyone else you’re not sure of, have the gold coins’ authenticity verified first. 10 Rarest and Most Valuable Coins in the World, 20 Gifts For Your Favorite Coin Collector, Before You Invest in Morgan Dollars, Consider These Points. Your IRA administrator will keep them in a vault for you. 83616-9120. You can always invest in gold without actually bringing home any gold coins. You don’t want a collection of gold-plated lead. How Do I Buy Coins Directly from the U.S. Mint? Money Metals Exchange was named Best in the USA because of our high-quality educational content, great pricing, and white-glove customer service. You should generally buy bullion coins, such as the American Gold Eagle, Canadian Gold Maple Leaf, or South African Krugerrand. Thieves know where to look, or they can find it with a metal detector. We wouldn’t buy gold coins on Craigslist, but that’s just us. A thief could take your gold if you’re not careful. Coins must meet standards of purity to qualify as IRA investments. U.S. gold coins come in one, one-half, one-quarter, and one-tenth ounce denominations. If you have already decided to invest in gold coins, here is some sound advice before you make any investment in gold coins. Nobody has to know you have it – if that matters to you. If you are looking to invest in precious metal coins, then you should buy classic U.S. gold, such as the Saint-Gaudens Double Eagles. The Franklin Mint and Bradford Exchange were privately-owned companies that put out "collectibles" of various types, including coins. Some examples of the European bank ingot makers and refiners that are reputable are Credit-Suisse, PAMP, and Johnson-Matthey. Since coins produced from these private firms are not from official government entities, most coin collectors are not interested in them. That may sound crazy – but it has happened in other countries. Collector’s coins, called numismatic coins, are a different game than bullion gold coins. Don’t get carried away buying gold. Gold tends to go up when other investments decline, providing a stabilizing effect for your portfolio. Unlike stocks and bonds, a purchase of gold is not an investment in company growth. By using The Spruce Crafts, you accept our, 3 Things You Should Know Before Buying Gold Coins. Unless you are very knowledgeable about collector’s coins, stick with bullion coins. That’s a good way to get the best balance of risk and return. Privacy Policy. Please enter your username/email and password to log in. That’s why there’s something very satisfying and solid about investing in and wanting to buy gold coins. We no longer even have a passbook to hold on to. If your primary purpose is to buy gold bullion as an investment, my recommendation is that you don't buy gold coins. All the Philharmonic coins display the same design, with only the mintage year changing. If, your primary goal is to store up bullion against the potential doomsday, or you just hope that gold will go up in value and you'll be able to sell for a profit someday, then buy bullion bars and try to avoid paying the premium commissions that collectible bullion coins carry. Whatever you decide to buy, make sure that you take delivery of your purchases right away! These coins have the potential to be good investments, but which one you buy will depend on your collecting or investing goals. But of course you won’t – you should leave coins in their cases, away from scratches and fingerprints. Except for a couple of early Franklin Mint sets, coin dealers just put these coins on a scale to weigh them and pay between 90% to 95% of the spot price ​of silver or gold. Never let companies store your bullion in their vaults for you! You may pay a higher premium if you buy gold coins less than one ounce each. Although certain products issued by these companies (and their competitors) do have some modest secondary market value, their coins have historically done very poorly. You can still buy to make a profit someday; most collectors have this goal in the back of their minds. The Krugerrand contains .9167 fine Gold, with an alloy of 8.33% Copper to bolster the Gold durability. If these companies go bankrupt or become the victims of foul play, you're going to be stuck holding a paper note that isn't worth anything. Pure bullion coins include the American Eagles, Maple Leafs, Pandas, and Krugerrands. These two factors add to the possibility that they will increase in value because of its rarity. Once you have the coins, you may be tempted to run the coins through your hands, like Ebenezer Scrooge. Here’s why: On the other hand, gold has some disadvantages: If you decide to buy gold coins, get it from a reputable dealer or financial institution. Perhaps 5 to 15% of your portfolio should be in hard assets like gold coins. The first question you need to answer, to determine what to buy, is whether or not you're a collector or an investor. The United States Mint, on the other hand, is an official government mint, and its products do reasonably well on the secondary market, especially over time. A favorite of investors and music-lovers alike, the Philharmonic was the first European one-ounce gold investment coin on the exchange. We have no idea how many were melted during the melting spree in early 2008 when gold topped $1,000 an ounce. Sign up to get the latest tax tips sent straight to your email for free. Before making any investments, you should consult with your investment advisor. Therefore these coins will only get rarer over time, and the premiums on them are minimal considering their rarity and potential. Most investors want the majority of their portfolio to be in growth funds, stocks, or other investments. Sign Up NOW to Receive These Great FREE Benefits: Opt-out at anytime, hassle free. The South African Krugerrand usually has lower premiums, but the lowest of all are the ingots and bars issued by European banks and certain recognized private refiners.