Purchasing gold has been one of the most consistent ways of investment out of all other means. You can always count on gold even as the world economy witnesses constant fluctuations. There are coins, like American Eagle and the Canadian Maple Leaf, that have high purity and can reach high prices after some time. Each day, you’d find thousands of people buying these coins to add to their portfolio and expand their investment. Here are some tips if you plan to buy your first gold bullion coin.
Start with North American coins
If you’re a beginner at investing in gold bullion coins, buying North American coins would be the most hassle-free purchase. When we say North American gold bullion coins, we’re talking about two in specific coins- American eagle and Canadian Maple Leaf. They are both pure and easy to buy and sell. Dealers, like 1st Fidelity Reserve can help you with the purchase and storage of these coins in a secure way.
As a wise buyer, you know it would be a terrible mistake to make a purchase without first comparing the prices with different dealers. Also, why wouldn’t you want to compare the prices when it’s really easy to do so? When you buy gold bullion coins, make sure you spend more than 5% premium on them. Also, buy from secure places that don’t expose you to the threats of bidding wars.
Buy 1 ounce at once
When you’re making your first purchase, it’s highly recommended to start off with a purchase of a coin that weighs an ounce. Many gold bullion coins are available in the standard weight of half an ounce, one-quarter ounce, one ounce, and one tenth ounce. The reason why it’s better to buy one ounce than the fractional units is because these coins can charge you a higher premium rate.
Research the dealer
When you plan to work through the whole process of buying a gold bullion coin from a dealer, make it a point to run a background check to be on the safe side. Read the buyback policies thoroughly so you know what to expect. Every dealer may have their own set of policies, which is why it helps to clear the air before you make a purchase.
Avoid rare coins
While there is nothing wrong in investing in rare coins, the only reason why we ask beginners to avoid rare coins is because investing in these coins requires a certain level of expertise. Moreover, in case you’re keen on purchasing a rare coin, make sure you seek assistance from a professional grading service that would be able to help you buy a rare coin without any hassles.
These are some tips you should keep in your mind when you purchase gold bullion coins. Since investing in gold coins is a matter of thousands of dollars, it’s better to be cautious and follow these tips so you can make a wise investment.