Purchasing gold and silver coins is easy with a little information.
There are many reasons to buy gold and silver coins, including collecting and investing. Regardless of the reason, buyers need to understand some basic information about gold and silver coins.
Numismatic and Bullion Coins
Gold and silver coins can be divided into two types: numismatic coins and bullion coins. Numismatic coins are valued for their rarity by coin collectors, while bullion coins are valued upon the coin's precious metal content. Numismatic coin values are greatly impacted by the coin's condition.
Determining Fair Value
Coin buyers need to determine a fair value for the coins they are considering purchasing to ensure they receive a fair price. Values of coins can be determined by comparing prices offered by different sellers, using coin value guides (in the case of numismatic coins) or by using spot gold and silver prices.
Finding a Reputable Dealer
After determining which gold or silver coin to buy and the fair value, a buyer needs to choose a coin dealer. Buying coins in person is generally safer but it isn't always possible. Before buying coins online or via phone, a buyer should research the company to ensure its coins are legitimate.
