Advice on buying gold coins
 

I am interested in buying gold coins. I will probably buy face 2 face at from my local swapmeet dealers.

My ques is what kind?

fractional gold buffaloes (seem to be going up big)
foreign gold (low premiuims, some numismatic value)
st, gaudens (high demand, numismatic value)

....or maybe a little of all! LOL

Re: Advice on buying gold coins
 

lots of scammers out there. if I were you I wouldn't visit the spiders web until you armor yourself first with knowledge. you should start with shopping online first. or , bring a laptop with you and when you find something you like , compare it to what that same item goes for on EBay, etc.

Re: Advice on buying gold coins
 

Since you live in "Mexifornia" go to a local coin dealer with $1000 cash and bullion sales are tax exempt. If you bring $10K you will fall under IRS reporting rules so go to more than 1 dealer if your making a big buy (don't ask me how I know this.)

Re: Advice on buying gold coins
 

I'd suggest Krugerrands for a complete novice and first time buy unless you really want to bite into numismatics on your first run. If numismatics is your gig then ignore anything and everything I have to say on the subject. I, personally, avoid buffaloes because they are ugly little lumps of metal. My favorites are kangaroos. I have limited experience with gold because it is rather expensive for my budget but I do like fractionals. If I were rich I'd have a stack of sovereigns but I'd be real careful where I obtained them.

Re: Advice on buying gold coins
 

Only get numismatics if you have so much money that you feel like entertaining yourself with an expensive hobby.

Re: Advice on buying gold coins
 

If you want to go for the cheapest price then you should buy regular gold bullion and comparison shop (online and local dealers) to get the best price. If you are in collecting certain gold coins (U.S. or Foreign) then you should do some research on the gold coins you are interested in collecting.

Re: Advice on buying gold coins
 

Since you in California, look for Mexican Gold peso coins, research them first.:565:

Re: Advice on buying gold coins
 

+1 for Krugerrands. Great "starter" coin.

Re: Advice on buying gold coins
 

Don't chase Aztec gold -- beware the curse of Montezuma! :36_1_30:

Re: Advice on buying gold coins
 

It wasn't too long ago when I would have recommended the pre 1933 liberties or st. gaudens, because you used to be able to pick up common dates for no bigger premium than you'd pay for bullion. However, today the premiums for pre 33 gold are pretty high. If I were in your position, I'd get a couple of kruggerands because you'll pay less premium for them than you would for AGE or Maple Leafs. The one thing I don't like about kruggerands is that they are alloyed with 10% copper which makes them look a little too coppery when compared to the Buffalo or Maple Leaf, wich are .9999 fine gold.

Re: Advice on buying gold coins
 

Hmmm... didn't seem to hurt me none...:tongue_ma:

Re: Advice on buying gold coins
 

I to was wondering about the gold eagle mind you it is only 22 karate vs 24 for the buffalo and maple leaf.

My collection so far is two maple leaf 99.999 and one buffalo 99.99 gold eagle is only 99.9 i like the look of it but just not pure enough.:36_1_30:

Re: Advice on buying gold coins
 

:thumb.aspx: :signs14: I don't like all the scratches on the PURE stuff. :111:

The GOLD Eagle has the 1 ounce of gold plus 10% copper/silver mixture for hardness - that way IT DON'T scratch so darn easy (look at the old .999 Maples when you put them back into the TUBES they really scratched up GOOD!). :signs14::thumb.aspx:

Krugs or Gold American Eagles first - is a good safe bet. When full up on CORE then add 10% numismatics. Keeps it from getting BORING. If you like history. I do confess! :signs14:

Re: Advice on buying gold coins
 

I would take the buffalos over the eagles any day pure gold is what i want and eagles are not pure and look more like copper than gold! The eagle design is very nice through. My buffalo coin is graded ms 70 perfect!


Some told me the 2009 are 99.99 is this true?:36_1_28:

Re: Advice on buying gold coins
 

I'd go for 24k.

travel to many places outside the US with a Buff and AGE and see which one goes first.

Re: Advice on buying gold coins
 

In 2009 and only in 2009, they are releasing a 24k replica of the St. Gaudens ultra high relief double eagle.

This is not the same as the American eagle series.

Re: Advice on buying gold coins
 

Strange why they dont put the 99.99 on the coin like the buffalo do,:36_1_30::36_1_30::36_1_30::565: how would you ever know?

Re: Advice on buying gold coins
 

I hate paying premiums. Unless its the new ultra high relief's i just grabbed along with a few of my friends picked up for me.

tulving has austrian 100 coronas for $20 over spot. Seems like a good deal

anyone know of a place that has better prices. Im hitting the gun shows & flea markets to see if i can pick up anything for spot.

thanx for all the responses

Re: Advice on buying gold coins
 

Gold for spot, these days? Good luck! IF you can do the minimum order for Tulving, that might be a good deal, although I'm not big on Euro gold coins in the US. Problems with recognition. I was big on British Sovereigns, before the premiums got too high. I like Krugs and GME's.

Re: Advice on buying gold coins
 

No. Anyone selling at spot would be a fool.

Re: Advice on buying gold coins
 

My advice...HURRY!

Re: Advice on buying gold coins
 

:36_1_25::36_1_25::36_1_25:
Even a truckload of Krugs would fail to bore me even a little!:10_1_19:

Re: Advice on buying gold coins
 

I'm sure there's room in the back 40 to bury a couple of the ugly things but a whole truckload????:cry1:

Re: Advice on buying gold coins
 

24k gold doesn't scratch as easily as people say. I tried to dent a 24k gold bar with my fingernail and couldn't. Gold is soft in the sense that it's easier than aluminum to flatten with a hammer, but it's not Laffy Taffy soft.

Hoarding gold isn't as fun if you can't klink and jingle your coins together. That's why I like Krugs and Coronas -- you can play with them and nobody will ever hassle you about their condition.