Advice for Buying Gold Coins if You’re a Beginner
For beginners, as well as experienced collectors, buying gold coins can be an exciting hobby, as well as a worthwhile investment.
There are many gold coins to choose from and, for the new investor or collector starting out, it might look a bit confusing; however, if you stick to a few basic principles when buying gold coins, you will not go wrong.
First, you need to decide what sort of gold coins you would like to collect or invest in. This will depend upon your taste and perhaps, your economic bandwidth. What do you like and how much can you afford?
The internet is a good place to browse and see what is available. Simply googling 'gold coins' will give you a wealth of information on gold coins around the world from the ever popular American Gold Eagles to the Austrian Orchestra sets, and the Australian Kookaburra to the Euro coins produced by the Dutch Mint. There are over 45 mints around the world currently producing gold coins.
You should also check out the precious metals firms online to see what is available and what sort of prices are being charged. As the value of gold and silver rises so does the cost of the coins. It can be a good idea to purchase sets as these end up being worth more per coin than single coins.
It is better, especially when you first start, to collect only proof sets with certificates of authenticity as these are sure to retain their value and will be certified genuine coins. Later, as you become more experienced, you can start adding rare or antique coins top your portfolio.
One has to be careful of counterfeit coins, especially when buying from auctions, as there is often no certificate or guarantees of genuineness.
Check out the dealer's terms and conditions so that if you are unhappy with your purchase, the dealer will accept the coins back.
By sticking to the established and reputable dealers and mints you can be assured that buying gold coins for beginners will be a pleasurable and lasting hobby.
Remember - “take care of your money and your money will take care of you.”
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