1. You may tempted by that late night infomercial on the shopping tv stations showing you this brand new set of collectible commemorative coins for sale. They sound great and seem like a great investment, after all they do say they are limited in quantity and made from pure gold or silver. But the price does not reflect the value and it is not the best way to invest in coins.For example, as much as the children in your life may love these "Frozen" Elsa coins now, they are probably not the best choice to beef up your portfolio for the future. (However, if you do want to buy these, they are available at www.hsn.com
2. Prices that are too good to be true. When you shop online for coins, be careful about who you trust. Places that claim to have lower prices, or are selling coins and bullion below market value, can be as the saying goes "too good to be true." For example, if you find a Canadian Gold Maple on Ebay for $100, you can pretty much guarantee you are getting scammed. While buying silver and gold coins and bullion in bulk can make the price lower, pay close attention to any hidden fees and shipping costs that are associated with the purchase.
3. While collectors of coins may find value in rare and mishandled coins, investors should stay clear of these high-premium new issue commemorative coins that are often heavily promoted. For example each year the mint will produce a commemorative Gold Eagle or Gold Maple Leaf that will fetch higher premiums. Steer clear of these and stick to the regular Gold Maple Leafs and Gold American Eagles so you get more bang for your buck.
4. Buying gold and silver coins as an investment without doing your research. This is a mistake we see very often. People who have spent a lot of money on different gold and silver coins, but when they want to get a value, they are shocked by what they find. Not all coins are created equal. An NCG graded coin with a high score and an even higher price tag is probably not going to make you more money in the future. Instead, invest in coins that are more common and are more than likely going to multiply in worth over time.
5. Not reading the fine lines before purchasing. A lot of times, we buy something only to realize that we did not read the fine print that was hidden at the bottom of the page. The internet makes it so easy for anyone to purchase coins with your debit card, through a bank wire and even with a credit card. But, always read all the polices and terms and conditions before you do. What you may find is that the company does not take responsibility if your coins are "lost" in transit or there may be crazy fees that will be tacked on to your purchase.
Come into our Midtown, Atlanta location of Atlanta Gold and Silver and talk to us about some coin and bullion investment options that may be right for you. We make sure our customers are well informed and we keep the entire process a transparent one. Trust and accountability are the cornerstones of our family gold and coin business.
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