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Gold Coins Buy

In the present time, nothing can be trusted to be original. And when it comes to buying gold coins one has to over cautious. This is because gold is highly expensive and buying gold coins is one of the best ways that one thinks of when it comes to investment. This is very unfortunate that there are a lot of duplicate producers of the gold coins in the market, which have almost flooded the markets with these fake gold coins. In the earlier times one was not required to think about the genuineness of the gold coins as there were hardly any fake ones. But now the situation has completely altered. One has to pay a lot of attention as most of them are duplicate gold coins.

One has to take care while buying gold coins but can be done about it. The first thing that one must do is to buy gold coins from a dealer who has a good reputation in market and one who is certified for this job. One of the best places where one can look for the original and genuine gold coins are the antique dealers. The antique dealers too have to get certified and then they can sell the things they call as antiques. And for sure, a thing that is antique is going to be original. They normally have certified appraisals and if you ask them, they can give you the same in written when you buy gold coins or any other antique from them.

Another place to buy genuine and original gold coins is to buy from state cells. This is the best place as they would not cheat. Though keep in mind that they do not have a return policy. You can also buy from the known auction places. There are many auctioneers who are known all over the world and those are seasoned collectors normally buy from these dealers. These auctioneers also have catalogs. These catalogs can be purchased by any one. With the help of these books one can get a lot of information about the original items and how to check for originality.

Another tip that works well to check the genuineness of the gold coins is to check for the return policy. If the dealer does not have any policy for taking the product sold by him then there are hundred percent chances to distrust him and also doubt the authenticity of the product.

There are some other easy ways that one can try out in order to learn about how to buy gold coins. There are a lot of articles that one can find on the internet. There are also some sites that are completely dedicated to lessons on gold coins. You can surf the internet and collect information from those sites. Some of these sites also have pictures and albums that tell about the old coins. These are there so that one can get a bit of information on how the gold coins looked in the ancient times and how there came the changes in the same with the passing time.

One can also buy gold coins online in the present time. But here one may ask how to check the genuineness at this point. So, here the answer is that these sites too have the same policies as any other dealer of gold coins would have. They have their registered offices and one can ask for the details at the same. Though nothing works more than experience but still there are a few ways, adopting which one can save himself from getting cheated.

Frequently Asked Questions

  1. QUESTION:
    Where can i buy gold and silver? I want to buy coins, maple leafs, krugerranders, i need to save my money?
    I want to buy gold coins. And Silver coins.

    I need to save my money by investing in these raw materials. I need to buy maple leafs, krugerranders or kookaburra coins. Please guide me to the best sellers? I didnt find alot of trustworthy ones on the internet. But I need my gold!

    • ANSWER:
      I've used California Numismatic Investments. Found them to be totally reliable with good prices. Here is the website:
      www.golddealer.com. They also sell silver, platinum, and paladium ( not spelled correctly).

      If you are interested in investing in gold without taking possession, you might also look at these sites:

      www.everbank.com ( They sell a gold CD and a silver CD)

      There is also a gold exchange traded fund you can purchase if you have a stock brokerage account. It is offered by Ishares, and the ticker is GLD. The silver exchange traded fund ticker is SLV. So, there are a lot of ways to invest in the metals, without trading futures contracts!

  2. QUESTION:
    Is it safe to buy Gold Coins from the BSP in the Philippines?
    I'm a coin collector and I'm interested in buying commemorative Gold coins. Is it safe to buy Gold Coins from the BSP in the Philippines? I know that there are a lot of scams out there so I'm wondering if the Central Bank there is any different from anywhere else (pawn shop).

    I heard that gold coins are sold there and I would like to know that they are real and not fake. Also do they sell other types of gold coins from US, Australia, Canada, China?

    • ANSWER:
      trust the government because if you don't you get deported. of course the central bank is trustworthy. pawnshops are regulated by the central banks and some of them do get into trouble.

  3. QUESTION:
    Why is it impossible to buy gold coins at a decent price over the internet?
    I want to buy gold coins at 7% over the spot market. Why is this so hard to do? Are there reasons this is discouraged or something?

    • ANSWER:
      try bulliondirect put a bid on gold bullion

      The big banks sell paper contracts that Promise gold in the future , but there is more paper out there than all the gold that ever existed driving down the paper spot price but the real gold in small investment form is in short supply and the cost of the real thing is a lot higher

      read this article I remember buying silver in 07 waited 3 months to get it .

  4. QUESTION:
    Where can I buy gold coins without paying a huge markup?
    I am looking to buy some gold coins to diversify my portfolio. All the online sites I see are charging at least a 15% markup from the gold price that is posted. Is there any place to get coins for less of a markup? I am looking at this from an investment point of view and not a coin collectors point of view. I really do not care about the coin itself, but would prefer US coins.

    • ANSWER:
      Open a discount brokerage account.
      Buy GLD.
      Voila - gold at no markup.

      Just try to sell a coin - even at ebay.
      You will never get half if what you paid for it.
      Gold coins - easy to buy - hard to sell.
      /

  5. QUESTION:
    Where can i trust to buy good quality gold coins?
    Im interested in buy gold coins. Is there anywhere that i can buy gold coins. Im just starting the coin collection. I was just wondering if they is a trustable place where i can buy good gold coins

    • ANSWER:
      littleton coin is who i trust

  6. QUESTION:
    Where can I buy gold coins or gold bullion in the Philippines?
    Where can I buy gold coins or gold bullion in the Philippines?

    Specifically in Makati City or Paranaque?

    • ANSWER:
      There are many frauds in the world, evenly distributed so here in the Philippines there are wolves in sheeps clothing. Do not trust just anybody (strangers from Y!Answers). Better call the Banko Sentral ng Pilipinas (BSP) for accredited sources.

      Bangko Sentral ng Pilipinas:

      A. Mabini St. cor. P. Ocampo St.,
      Malate Manila, Philippines 1004
      Tel. No. : (632) 524.70.11
      Fax No. : (632) 523.62.10
      E-mail: bspmail@bsp.gov.ph

      BSP - Security Plant Complex
      East Ave., Quezon City
      Tel. No. : (632) 929.70.71 to 90
      Fax No. : (632) 926.25.94

  7. QUESTION:
    Where can I buy Gold coins or biscuits?
    I know the online places to buy gold etc. But I was wondering where can I walk in and buy like a retail standard gold biscuits or coins. Is it like a bank or some kind of institutions that sell gold to individual customers? I just would like to buy 2 or 3 of them. Thanks in advance.

    • ANSWER:
      gold coins: any coin shop - also silver

  8. QUESTION:
    Why buy gold coins rather than gold jewelry?
    Why should I purchase gold coins rather than buy gold jewelry? Is one generally worth more than the other? Is one valued more than the other? List pros and cons please! Thanks!

    • ANSWER:
      Coins have these major advantages:
      Weight and fineness are always a known quantity. That makes coins much easier to buy and sell. Numismatic (collector) value is a bonus.
      Gold jewelry is harder to evaluate. In buying gold jewelry, you are paying for workmanship, and you are unlikely to get that back when selling (Cash4gold.com and similar outfits give you nothing for workmanship or precious stones that may be part of the piece).

  9. QUESTION:
    How do you buy gold and / or gold coins?
    Hello,

    I am very interested in investing in natural resources, specifically gold. However, I do not know how to go about purchasing gold and / or gold coins. Everything I come across seems like a scam and I can't seem to decipher what is real and what is fraudulent.

    Can someone please tell me how I can buy gold coins?

    Thank you!

    • ANSWER:
      FOR ONE, go to websites that sell gold products Kitco.com
      Ampex.com Monex.com etc. You do need a credit card.

      make an account ( usually free) and place an order.

      physical gold is sold in bars and coins and each product has a certain concentration of gold for instance 1oz or 1 gram ( or more).

      Wait of your stuff to arrive.

      These days, its much harder to have someone to buy from. All the gold dealers have gone into hiding it seems. Cant blame them.

  10. QUESTION:
    Where do you buy gold coins in the US?
    Hey guys, since in Turkey it is so easy and simple to buy gold coins (with set market price for day), I got confused here in the US on how to buy some to keep... Anyone who has been collecting them here in the Turkish community? What is your buying strategy. I don't live in NY so, I don't have access to gold shop districts.

    • ANSWER:
      I don't live and familiar with gold purchasing in the US but you may want to check this out:

      http://www.usagold.com/productspage.html

  11. QUESTION:
    Where can I buy GOLD COINS in the Philippines?
    I am a gold coin collector and would like to know where I could buy gold coins from. I'm interested in Australian, Canadian, Chinese, American, ect. coins.

    Do you know where in the Philippines I could buy them? Possibly the Central Bank?

    • ANSWER:
      At the Philippine Central Bank.

  12. QUESTION:
    What is a good online source to buy American Eagle 1 oz. gold coins?
    Another question is: Do you have any other tips for buying these coins? Is there a way to get ripped off? What is the typical price of these coins in relation to the price of gold? Should they be looked at as buillion investment or is there a better way to buy gold for investment purposes. Thanks for your help. John

    • ANSWER:
      I have used apmex.com before and have had no issues.

  13. QUESTION:
    Should I buy gold coins or gold bars?
    I want to buy gold,but I don't know if it is better to buy gold bars or gold coins.Can somebody explain my which is the difference and which of these 2 is a better investment?

    • ANSWER:
      Assuming that you aren't buying coins for the numismatic value, then the form of bullion (coin versus bar) is really less important than the amount of gold you are buying.

      To illustrate, looking at the precious metals store on Kitco.com on the evening of 11/11, I can buy a 1 ounce gold eagle coin for ,222.11. I can buy a 1/10th ounce gold eagle coin for 1.36. 10 1/10th ounce gold eagles have the same amount (and purity) of gold as 1 1 ounce gold eagle. Yet that gold would cost me 1 less if I were to buy the larger quantity.

      Similarly, a 100 gram gold bar would cost ,649.74, whereas a 1,000 gram (1kg) bar would cost ,433.41. 10 100 gram gold bars would cost ,497.40. A difference of for the same amount of gold.

      Taking this to the next step, 100 grams of gold = 3.215 troy ounces. The cost per ounce of the 100 gram bar of gold = 1135.22 per ounce. This is compared to ,222.11 per ounce for a 1 ounce coin. (Note, there may be differences in purity in this example, but you should get the point. Quantity of gold is the more important factor) Also note that the price of gold at the time these quotes were read was 1,121.20.

  14. QUESTION:
    Why can't a person buy gold coins at a regular bank?
    Since the United States mints gold coins, along with dimes, nickles, quarters, etc. shouldn't all currencies be available at a regular bank? Why does one have to go to a "coin dealer" to buy a gold coin with a premium paid?

    • ANSWER:
      Since the price of gold fluctuates minute by minute, a coin dealer is taking a risk when buying a gold coin. He's paid for taking that risk, a risk that banks just don't want to take. Besides, when it comes to gold coins, a one ounce gold coin is now worth about 0. Unless you're buying a car or a house, it might be difficult to spend.

      You can find the minute-by-minute price of gold at Kitco.com. If you look closely, there's always two prices given, the "bid" and the "ask" price. They buy at less than they sell it for, otherwise there wouldn't be a profit. Without a profit there wouldn't be any point in getting it out of the ground, would there? There's always some sort of spread or premium when buying real gold. Coins used to be made out of gold, but nowadays there's simply too many coins out there and not enough gold. Even a one ounce silver coin is worth , kind of difficult to spend at McDonald's. And again, the price of silver is always fluctuating.

      The good thing is there's always a coin dealer around somewhere where you can buy real gold, or you can buy online for delivery.

  15. QUESTION:
    Where to buy gold and silver coins in Los Angeles?
    Anyone know where I can buy silver and gold coins in Los Angeles and /or surrounding areas?

    • ANSWER:
      http://www.yelp.com/biz/wilshire-coin-exchange-santa-monica#query:gold%20coin

      Wilshire Coin Exchange
      1312 Lincoln Blvd
      Santa Monica, CA 90401
      Neighborhood: Santa Monica
      (310) 393-0661

      has good review and has coin all over the world.

  16. QUESTION:
    Does Indian banks buy back the gold coins sold by them?
    Hi, I am planning to buy some gold coin for investment purpose. To make sure of purity, I am planning to buy from Banks. As its investment purpose, I will be selling it after I gain handsomely / in emergency.
    So does anybody know - which Indian Banks buy back the gold coins sold by them?

    • ANSWER:
      indian banks are not authorised to do trading in gold coins. restriction by RBI.
      why ? i am not sure but maybe they will start selling gold at 100 Rupees per gram (like they do for telecom and for flights ) which will effect the gold prices majorly.

      why do you try Gold ETF ? they are more simpler

  17. QUESTION:
    is it better to buy gold coins or gold bars?
    i want to start buying some gold, i wanna start of small. i don't want the for an investment i just want them because i think they are pretty and i have always had a thing for precious metals. so which is better to own coins or bars? which resells for more money? give me all the info you know!

    • ANSWER:
      you should buy gold coins, bc a lot of gold bars arent 100% gold, n the companies tht make them basically scam their customers. but gold coins are made by the government, and the government would not do that.

  18. QUESTION:
    Where can I buy gold coins in hongkong ?
    I am looking for a shop which sells gold coins ni hong kong preferabbly they should have a website to.

    • ANSWER:
      Gold shop

  19. QUESTION:
    Can I buy gold coins in mexico at the bank and bring into the US..any limits?
    I understand you can buy gold coins over the counter at Banamex (Citi), but not sure what happens coming back into the US as far as customs.

    • ANSWER:
      You must report over ,000 in cash to US customs.

  20. QUESTION:
    Does anyone know of any good trusted sites to buy gold coins or gold bars?
    I am currently looking to invest in gold. I am looking for a trusted site that I can purchase the gold from. I recently found a site that sells gold for cheap, but am a little wary of purchasing from them. And would like to know if anyone had purchased gold recently or in the past and has a site that they would recommend and that they trust.

    Thanks in advance.

    • ANSWER:
      www.usmint.gov
      www.monex.com
      www.bulliondirect.com
      www.bullion.nwtmint.com

  21. QUESTION:
    Where can I buy gold coins?
    I have a few that I bought a long time ago and was wondering where is the safest place to buy some gold coins and what kind of coins are out there?? Like what denomination.
    Thanks kissy, I will check our credit union.

    • ANSWER:
      Depending on the type of coin you are looking for you can get many directly from the U.S. mint. They would include coins such as the 'first spouse' series and american eagle coins. Also check your local bank or credit union for gold coins. Many financial institutions carry them. Much like the quarters series of the last few years, there is a series of 'presidential' gold coins that are being released over several years as well as several 'native american' coins.

  22. QUESTION:
    What is the cheapest way to buy new 1 oz. gold coins?
    Where is the best place to buy new gold coins such as american golden eagles, krugerands and pandas? Which coins are the better investment?

    • ANSWER:
      This is not a shill for any one site, but it's pretty uncommon for me to find better prices on physical metals than at Apmex.

      Goldmasters and ebay also usually have near market prices. I've never done business with goldcoinsgain and Blanchard is typically the most expensive.

      If you are lucky, you may have a high volume local dealer. For years I bought proof silver eagles locally, sent to NGC for grading and sold on ebay b/c of my high reputation gave me a healthy markup. That all worked out about four or five years ago so that ebay became cheaper than local and there wasn't enough profit left in finding a few 69's and 70's to justify the volume I needed to do.

  23. QUESTION:
    Where to buy and sell gold bars/ coins in Delhi?
    I want to buy gold bars or gold coins in Delhi. Some say that banks are selling it for higher price, so I guess I should opt for jeweller shop. Any idea, which jelweller shop can I trust? Also, how do I know if the gold bar is pure?

    Do I need a PAN card at the time of buying and selling gold bar from jeweley shop?

    Do I need to pay tax if at the time of selling gold bar? What if I got cash from buyer?

    • ANSWER:
      Banks may be offering a higher price but it's safe and prudent to buy gold from banks as the gold is pure and reliable and will certainly give you better returns whether or not you sell them back to bank or in open market... ICICI bank Gold is good.. Go for it

  24. QUESTION:
    is there a gold bank in san francisco where I can buy gold coins?
    I want to save my money in the form of gold so I can fight the evil forces conspiring to create a new world order.

    • ANSWER:
      Most coin dealers also deal in bullion coins and small bars.

  25. QUESTION:
    Does the Central Bank of the Philippines buy Gold and Silver coins?
    Does the Central Bank of the Philippines buy Gold and Silver coins? I am a coin collector and I wanted to know if the Central Bank of the Philippines would buy Gold or Silver bullion coins from USA or Canada? I've heard that they have a gold and silver buying program.

    Can anyone let me know what their policy is regarding buying and selling gold/silver coins?

    • ANSWER:
      ......yes they are and even the small enterprises like pawnshops.....

  26. QUESTION:
    How many Conservatives here buy gold-line coins?
    Is it true that FDR Came after Citizens of the USA's Gold, and the only people who were allowed to keep their gold were the ones who had Antique gold coins? Because I have tried to research it and it apparently never happend. FDR never took anybodys gold. So why is glenn beck saying he did?

    • ANSWER:
      True, for the most part (I still think Glenn Beck is an idiot, though):
      Executive Order 6102 required U.S. citizens to deliver on or before May 1, 1933 all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for .67 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of the order was punishable by fine up to ,000 (6,640 if adjusted for inflation as of 2008) or up to ten years in prison, or both. Most citizens who owned large amounts of gold had it transferred to countries such as Switzerland.[citation needed]

      Order 6102 specifically exempted "customary use in industry, profession or art"--a provision that covered artists, jewelers, dentists, and sign makers among others. The order further permitted any person to own up to 0 in gold coins (,664 if adjusted for inflation as of 2008; a face value equivalent to five troy ounces of Gold valued at 00 as of 2009).

      By the way, GoldLine is a terrible place to buy gold coins. Their prices tend to be 30 - 50% higher than what you would pay at a coin shop or on eBay.

  27. QUESTION:
    Where is a good place to buy gold coins online?
    I am looking for some bullians to start a small colection.

    • ANSWER:
      I hope this helps:

      Building Your Gold Portfolio

      Portfolio diversification is the hallmark of the prudent investor. For millions worldwide, sensible diversification in the overall portfolio includes gold ownership. It is a timeless art that need be applied to modern times. To help you meet that essential need, we offer the full range of gold coin and bullion products. We offer four primary groupings of gold items:

      1. Contemporary gold bullion coins and bars
      2. Pre-1933 European
      3. Pre-1933 U.S. gold coins
      4. U.S. semi-numismatic gold coins, higher-grade

      How you structure your portfolio depends upon your personal financial needs and goals, and should be done in concert with one of our experienced and knowledgeable client representatives. We are happy to work with you in structuring your portfolio to weather the uncertainties ahead and maximize your return. Below you will find listed various gold coin links which will take you to photos and specifications of each item.

      How to Buy Gold in Five Easy Steps

      Though the task for the newcomer may seem daunting and a bit confusing, a portfolio diversification into gold is really a very simple process that some tend to over-complicate. Having a good sense of what you want gold to accomplish for you is the first hurdle. From there it breaks down to Five Easy Steps:

      1. Familiarize yourself with our selection of gold coins and bullion.

      2. Call our Trading Desk (1-800-869-5115) for intra-day gold prices and portfolio consultation.

      FREE SHIPPING AVAILABLE on most orders (excludes bullion-only orders) Ask for details!

      3. Lock in your order at current prices over the phone.

      4. Remit payment.

      5. Sit back and relax while we fulfill your order.

      It's that easy! (And in fact, for small orders of historic gold coins you can shop for gold coins online to make buying gold even easier!)

      In over 30 years of assisting gold clientele on orders from hundreds of dollars to hundreds of thousands of dollars with thousands of clients located from Los Angeles to London, we have never failed to honor an agreed upon price or to deliver metal as ordered. Please see our investor Testimonials.

      Our experienced account representatives are very cognizant of the four product categories listed below and the role each plays in the overall gold portfolio. It only takes a few minutes over the phone to zero-in on what would likely work best for you. Some contact us already knowing what they want to include in their portfolio. If you are in that position, we will simply skip the preliminaries and go directly to pricing and locking-in your acquisition.

      In either case, we welcome your inquiry.

  28. QUESTION:
    Is it smart to buy gold bullion coins as an investment?
    Hi, I know nothing about coin collecting, advice is appreciated! From the little I've read, I'm wondering if its smart to buy gold bullion coins from a reputable dealer. Is it easy to make a profit over the years if I slowly buy them? How exactly do I profit, by reselling them to a dealer eventually?

    • ANSWER:
      as a general rule dealers buy gold bullion coins from the public at melt {the price of gold} minus 10% and sell the same bullion coin at melt {the price of gold} plus 10%....some major dealers work on a smaller margin...say 71/2%...or as low as 5% for some preferred customers
      your profit or loss will come over time by the increase or decrease in the value of gold... Traditionally gold and silver are purchased when they are dropping in price ..when their price is on the rise you hold or sell...when prices are going down you buy...in the long run you are working on an average purchase price....today gold is at 675.00 when it goes below that and while it's going down you buy when it rises you hold...you keep watching... when it's rising until it reaches new highs you hold or sell ....and when it starts to drops again and while its going down you buy.... when its going up you hold or sell.when it's going down you buy

  29. QUESTION:
    Is there a website where i can buy gold bars or coins by the gram?
    i needed to know if there was a website that sells gold coins or bars by the gram. like where i dont have to buy a specific amount in order to buy,, and if it will be at the current price of the market thanks

    • ANSWER:
      Yes. I have some 10 gr bars from kitco.com you can get 1gr 5gr 10gr and 20gr as well as coins and larger bars. 1oz= about 28gr. But watch out there is more percentage mark up on the lower gr weights. Look for "chip gold" if you want the gr bars.

  30. QUESTION:
    What is the best and least expensive way to buy gold coins?

    • ANSWER:
      Least expensive would be to buy modern gold bullion coins like the American Eagle coins, or the Canadian Maple Leaf coins. If you want to keep it simple, this is the best way to go.

      If you want something more historical, consider US gold coins from prior to 1933. I'm working on a section of my web site about these coins.

  31. QUESTION:
    Anyone know where I can buy gold and silver coins in Los Angeles?
    I slowly wanna to start getting out of fiat money, and in to metals. I'm familiar with online websites, but would like to avoid shipping cost. Anyone know where I could buy coins in Los Angeles and/or surronding areas. Realy appreciate it.

    • ANSWER:
      Go to Amazon, you can get anything what you want:
      http://www.amazon.com/gp/redirect.html?ie=UTF8&location=http%3A%2F%2Fwww.amazon.com%2F&tag=topfivproinf-20&linkCode=ur2&camp=1789&creative=9325

  32. QUESTION:
    How to buy gold - Gold dollars vs. Gold coins?
    Hello,

    I have an interest in buying gold. However, I am very confused by the different gold coins (american eagle, american buffalo) and the golden dollar. Can someone please breakdown the differences for me?

    Specifically, are the golden dollars, such as the 2002 Golden Dollar (Denver Mint Mark A23) made of gold? Why does an american eagle cost so much?

    Thank you

    • ANSWER:
      American eagle costs more because it symbolizes peace and war for america.

  33. QUESTION:
    What is the best way to buy gold coins (Krugerrands etc.) in Europe?
    Best means:
    - low dealer commission,
    - certified source,
    - preferably prices and the like available in the Internet.

    • ANSWER:
      I can't suggest somth9ing that I don't believe in and I am confident will lose money over time.

      If you live in Europe, I'd be looking at shorting the EU, and going long the USD.

      The economy is on a downward trend. Gold will not save it.

  34. QUESTION:
    where is a good place to buy gold coins?
    Can you buy them online,or at a bank?

    • ANSWER:
      Not at a bank, but there are some places you can buy them online. One of the best is apmex.com. I recommend them highly. If you are looking for a quantity of coins, try tulving.com.

      If you have coin shows in your area, it's worth trying there because prices will be more competitive at a coin show than they will be at a coin shop.

  35. QUESTION:
    Where's the best place to buy gold coins?
    I am looking to buy some of these and am looking for the best place. Any ideas?

    • ANSWER:
      The mint

  36. QUESTION:
    What are trustworthy places where you can buy gold coins and gold biscuits?

    • ANSWER:
      I've heard that gold biscuits are bad for digestion. I'd advise rubber biscuits...

  37. QUESTION:
    Where to sell gold coins bought from bank?
    Banks/Post offices don't buy back the gold coins that they sell, so if somebody wants to make money from the bought gold coins, where to approach?

    • ANSWER:
      Coin dealers will buy them. You are most likely not going to get the deal that you think you should get.

      Gold coins are usually a terrible investment.

  38. QUESTION:
    how to buy gold coins on today bullion spot pries?
    sir iam starting new gold coin Business in chicago.but i dont no ware i want to buy gold on wholesale pries? every dealar charging 5%commition on spot pries.if i buy from dealar i connot make money.please guide me ware i want to buy gold on usa bullion market treading spot pries?please guide me sir...

    • ANSWER:
      The short answer is that you cannot buy gold at the spot price. Unless you read and understand the following.

      Dealers have to make money. The spot price is the price based on futures contracts, and the most-recognized spot price is the COMEX in New York, often called the 'New York spot price'.
      This price is based on 100 oz gold bars. Only major dealers handle quantities this large, and the spot is usually the best price. Dealers will try to buy small amounts of gold, in the form of coins or jewelry, from collectors or people who need money and don't understand how it works, and are easily convinced that the dealer has to buy gold at 10, 15 or even a greater percentage BELOW spot, to make a profit. They then turn around and sell to those looking to invest but don't know how it works that they are paying a premium over spot, (which is a lie) because spot is the price for 100 ounces or more at a time (which is true). If the dealer was actually paying spot and selling to you for 5% over spot, he's not making that much. But if he's able to buy huge quantities at spot and can flip it immediately at a 5% markup, he doesn't care. The truth is that most dealers buy well below spot and sell for as much above spot as they can get away with.

      Look on eBay for actual sales of bullion gold such as American Eagles, Canadian Maple Leafs or Kruggerands. You'll see a premium being paid of at least 5% over spot, and often more, depending on the quantity. 1/10 oz. Eagles usually sell at higher price per oz than a one oz Eagle will.

      Forget about most older gold coins. Their prices do fluctuate with the price of metals, but the premiums due to the collectability and rarity factors make the premiums over spot more than you want to deal with.

      The only way you are going to buy gold at the spot price or below is to go out and find people who want or need to sell what they have and don't know how the market works, and then buy it from them at spot or below.

  39. QUESTION:
    Why don't the banks buy back the gold coins they sell?
    When u go to the banks to purchase gold they fall over each other to attract u. But in times of need when u approach them to sell the gold u bought from them, they point blank refuse to buy the same back, although the cold coins or ingots are in their original so called 'tamper proof' packing.

    • ANSWER:
      One should never buy physical gold from bank or ornaments for INVESTMENT purpose. You can buy it if you like the pleasure of owning gold.

      To invest in gold always use ETF.

      Here are the important reasons

      1.Banks sell gold coins at a premium of 10-20 percent over the gold rate at that time. This premium is taken for giving the guaranty of purity.

      But they will not buy it back, because they do not want to pay you that 10-20 percent premium. So you are forced to sell it elsewhere and lose the premium amount.

      So if you buy gold worth 11500 from a bank. The next day if you sell it to some other source you will get only 10000 rupees.
      2.In case of Gold ETF, if you hold it for more than 1 year it is considered as a long term capital. Any profit you get from selling it will be taxed at 20 percent. But in case of gold bar or coin, you need to hold it for 3 years for it to be considered as a long term asset. If you sell it before that time then you have to pay a income tax at 30 percent on the profit.
      3.But the tax problem does not end here. After 3 year’s you need to pay a wealth tax on gold bar or coin at the rate of 1 percent every year which is not needed in case of gold ETF.
      4.Finally, gold can get stolen. Bank locker or insurance can cost you a tidy sum.

      So in short if you invest in gold then invest in gold ETF not in gold coin or bar.

      One more point here is that gold is a good asset for times of crisis. In good times it is better to invest in share market. You will get far more retuns from it.

      you can check out the investment strategy given in this page.
      http://www.invest-in-shares-in-9minute.com
      This strategy tells about how common investors can invest based on their own judgment spending just 10 minutes a day and get 40 percent annual returns consistently

  40. QUESTION:
    What are the odds that Glenn Beck will tell us the key to restoring America's honor is to buy gold coins?
    Before he launches into a three hour sales pitch for Goldline?

    • ANSWER:
      Probably the same odds that obama is gonna run a the most transparent administration in American history and balance the budget etc. etc.

  41. QUESTION:
    what to do with gold coins if not buy gold?
    can it be exchanged for cash?if so where can it be exchanged, in a gold shop? i am in dubai, so i wanna know where in dubai can i exchange a gold coin. any help please!

    • ANSWER:
      you can definitely find gold shops interested in buying gold...

  42. QUESTION:
    what are some online sites that are reputable to buy gold bullion or coins?
    just need websites that are reputable to buy gold/silver bullion or collector coins. i'm just worried of coins or bullion being faked. how do i know its real gold or real coins?

    • ANSWER:
      I know a website you can buy those. It's reputable if you just want to buy or be involved in their business too. But they have a lot of resources on their site for you to figure out real ones from fake ones.
      It's very reputable and that's where I buy my Silver coins (best time to invest in Silver). You can either buy one time or become a member and buy each time at a discount, whatever floats your boat :)

      Good luck!

  43. QUESTION:
    What is the best company to buy gold coins from?

    • ANSWER:
      I'd say private owners.

  44. QUESTION:
    Where can I buy gold bullion or coins?
    I'd rather not keep money in the bank. So I'd like to convert it to Gold so its easier to hold on to and Im less likely to spend it. So where can I buy some gold bars or coins, and how do I know if Im getting a fair deal?

    • ANSWER:
      http://www.bulliondirect.com

      http://www.monex.com

      http://www.usmint.gov

  45. QUESTION:
    Who knows if their are stores in heaven where you can use gold coins to buy things from God's angels?
    Or if I were in heaven and wanted 2 dozen carnation flowers all I had to do is ask God and the flowers would appear out of nowhere in front of me.

    • ANSWER:
      Heaven isn't physical. So no flowers, sorry.

  46. QUESTION:
    Will gold price go down.Is it a good idea to buy gold coins,biscuits. Where can I buy 24 k gold online in US?

    • ANSWER:
      it is seen that gold price are inversely proportional to dollar movement. thus if dollar gains strength against other world currency, the gold prices will fall. in the recent past the dollar is falling thus gold is increasing.
      gold prices are likely to continue their upswing for some months at least. it is great to buy gold but that gold purchase as an investment should be around 5 to 10 % of your total investment Portfolio. equity gives the best returns followed by real estate.
      would advice to be buy exchange traded gold ( etf) these are available in India and i am sure that will be available in US too. the advantage are they are online, no need to go to jewellery each month and no need to worry about security and purity. these ETF should be brought on a monthly basis rather than a one time

  47. QUESTION:
    What do companies do with the gold and coins they buy from consumers?
    I have some old coins I'm thinking of taking to one of these "We Buy . . ." fairs---some from the 1800s---and I suddenly wondered what do these companies actually do with all this stuff they buy? Melt it down? Do they resell it to consumers, to an auction house, private buyers?

    • ANSWER:
      They look at it and see if it has value beyond the value of the gold itself. If it a nice piece or a collectible coin, they will sell it iff as such. If it is not, then they melt it for the raw materials.

  48. QUESTION:
    Where can you buy Fake gold and silver Coins?
    I am trying to buy fake coins, preferably gold and silver for a school project. I am making a monopoly game based on the first 13 colonies of America, but I have not had any luck finding any of the coins. Any tips/ help would be appreciated this project is due in a week. And I have tried Wal-Mart and a Dollar store. If you name a store please try and make sure it is in the country of Oregon. Thank you for you help! ^^

    • ANSWER:
      Try to contact local coin dealers to see if they can help you. You could try the chocolate coins that are wrapped in tin foil. Of course your playing pieces may start to disappear if the game takes too long to play (ha ha).

  49. QUESTION:
    I would like to buy gold coins?
    what is the best place to buy gold coins? online{who} or a local dealer?

    • ANSWER:
      If you want to buy gold (coins), you would be better off buying etfs that track the price of gold.
      look under commodities: http://alpha-investing.com/

      it gives reasons as well.

      Also, remember that local dealers can jip you. And it can be really complicated, so i'd go with electronic (etf's) gold.

  50. QUESTION:
    Where can i buy Australian gold coins?
    I'd like to invest my money in some nice golden australian coins. Do you know from where i can purchase ones?

    • ANSWER:
      Laura, i suggest you this site
      Good luck.


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