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Traditionally, one point in favor of coins was the designs can be beautiful, whereas gold/silver bars were just ugly bricks. Another factor was gold bars had no governmental backing, you had to trust the smelter.
Today, bullion coins are backed by governments and can have stunning designs. So I would buy bullion coins instead of bars. I would probably use APMEX to purchase.
But I still value the numismatic and history of pre-1933 US gold…..and lately even Roman era gold. My two bucket list pieces are a gold eagle from 1795-1799 (about $20,000) and a Caesar piece from around 46 BC (probably about the same money).
I bought a lot of Silver Eagles from APMEX ~20 yrs ago, and still have them today. I like how each coin is a very spendable amount. I think in all the time I've had them, each coin has fluctuated from $17/ea on the low side, to $42/ea. in the high side. That is a good amount to buy gas & food w/, if the Dollar collapses.
I never bought them as an investment, more as a hedge against the Dollar collapsing...survivalist mentailty. I have an entire bank safe deposit box stuffed full of them. I have not even seen them in 5+ yrs..
We came from Asia, and once in a while, I used to buy 22ct gold jewelry. Last time, I ordered jewelry online and realized they charged so much for labor and waste. So instead of that, I thought of getting a bar or a coin. I have some gold funds in my 401k, so I want to diversify.
Adding real, actual gold isn't terribly different from owning gold funds. They're basically going to rise and fall together. Plus, depending on how much gold you own, you're going to need to insure it, which is costlier than a gold fund. Not to mention the threat of losing it or having it stolen. Take it from someone who's had two different places broken into and rummaged through! Heck, someone once ransacked an apartment I was renting out in my 20s and they took a small book of stamps!
Adding real, actual gold isn't terribly different from owning gold funds. They're basically going to rise and fall together. Plus, depending on how much gold you own, you're going to need to insure it, which is costlier than a gold fund. Not to mention the threat of losing it or having it stolen. Take it from someone who's had two different places broken into and rummaged through! Heck, someone once ransacked an apartment I was renting out in my 20s and they took a small book of stamps!
That's precisely why mine are kept in a bank safety deposit box. We get the box for free due to how much biz we do w/ the bank. We keep very little of value at our home. Thieves would be terribly disppointed.
Safety deposit box is certainly safer than keeping gold at home, but be aware the contents of the box are not insured by the bank. You need to buy insurance yourself, if desired.
Wouldn't you also pay a premium when buying? It seems as if you would pay a premium for coins and then sell them for a premium. I'd rather just stick with spot price for gold.
You pay a premium (higher price than spot) when buying, and receive a discount (lower price than spot) when selling. That gap is the dealer's markup.
How does one "stick with spot price" when buying coins, rounds, or bars?
That's precisely why mine are kept in a bank safety deposit box. We get the box for free due to how much biz we do w/ the bank. We keep very little of value at our home. Thieves would be terribly disppointed.
As long as you understand that the contents of your "Safety Deposit Box" are not FDIC/NCUA protected.
Yes, I know silver wouldn't be protected anyway, but some here may keep $1000 notes in theirs....
As long as you understand that the contents of your "Safety Deposit Box" are not FDIC/NCUA protected.
Yes, I know silver wouldn't be protected anyway, but some here may keep $1000 notes in theirs....
Some homeowners' insurance policies cover the insured's safety deposit box.
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