Should You Buy Collectible Gold Coins?

If you have ever been to a gold store looking to buy gold as an investment, you have probably encountered a sales person looking to sell you a “Rare Gold Coin”. Oftentimes, gold stores will lure people into their stores with affordable and simple 1 ounce gold coins. Then, once you have fallen into their trap, they will show you a “NEW” gold coin that one day will be worth far more than it is today. They will tell you that there have been very few of these “rare” gold coins produced and one day they will be coveted and sought after.

So, should you buy collectible gold coins and are they worth the extra charge that gold and silver coins charge? Sometimes the answer to that question is “Yes” but most of the time it is “No”. Here is why.

What Is Your Goal For Buying Gold?

Before we talk about should you buy collectible gold coins, first we must understand why you are buying gold in the first place. Many of our clients buy gold because they see the looming inflation hovering above their wealth. They see it as a massive threat to their hard earned money and they don’t want to lose it. They find gold to be a proper form of protection against inflation.

Gold has helped the the financially intelligent protect their wealth. See gold prices to over the years:

1 Ounce of Gold – 1971 – $44.60

1 Ounce of Gold – 1999 – $278.86

1 Ounce of Gold – 2006 – $604.34

1 Ounce of Gold – 2021 – $1,895.50

Is Your Goal To Protect Your Wealth?

If your goal is to use gold to protect your wealth then, should you buy collectible gold coins? No. You absolutely should not. Collectible gold coins are most often sold with the hope that they become collectible. They are sold by gold and silver salesmen as more of a gamble than an investment. Granted, it is possible that you buy a “rare” gold coin and one day it triples in value but the chances of that happening are low.

You are purchasing gold, not an unseen value hidden under the hope that one day someone will pay you more for your “rare” item than you bought it for. You can always bank on the fact that gold will have value and that there will be someone willing to buy it from you.

How Well Versed Are You In Collectible Coins?

It may be a good option for you to buy collectible gold coins only if you have such a wealth of knowledge on very specific coins. If you know for a fact that the coin already has value that people are willing to pay for and you have the knowledge needed to liquidate the coin when necessary, collectible coins may be an option. Keep in mind that it requires a vast knowledge about the coin to ensure you pay the right price and remain profitable.

Most gold coin collectors choose 1 or 2 coins and obsess on them. They know everything there is to know about the coins so that when they see a good deal they can jump on it. This is not a simple way to hedge your wealth against inflation and it requires more time. You are also not relying on the price of gold going up but rather the value of the coin to increase. This all depends on a small market of people in search for this coin.

Does The Rarity Make The Gold In The Coin Worth More?

At the end of the day, the price of 1 ounce of gold is the same no matter what form it is in. When you are trying to answer the question “Should you buy collectible gold coins?” you must take this fact into consideration. It is also a great practice to consider just how much more gold you can buy for the same price of rare gold. Oftentimes, you can purchase a large multiple of standard gold coins over rare gold coins.

How do you find rare gold coins?

If you are well versed on a few gold coins and you are in pursuit of them, how do you find them? The best place to start is with a reputable dealer who knows about the coins you are looking for. Find a dealer who has been in business for a while and who has had many happy clients. Make sure that you have done your research and know a sufficient amount about the coins and their values.

If you contact a dealer like Patriot Gold Supply, they will be able to begin a search for the specific coin that you are looking for. We have a team of Account Executives who are able to seek out the coin that you desire. Although we highly recommend sticking to classic one ounce gold coins if one is looking to hedge their wealth against inflation, we often have helped those seeking specific coins. With our resources, we have been able to source many hard to find coins for many of our clients.

Contact Us

Give Back While Investing

We are America’s Highest Rated and Most Reviewed Patriotic Gold Company. We are Unapologetically Patriotic and we give back to those veterans who sacrificed for our freedoms. We have helped beginner, intermediate, and professional gold investors obtain the gold that they are in search of. Each and every time we have worked with one of our great clients, we give back to those veterans in need. Helping them find shelter, food, and clothing.

If you want to help others while helping to protect your wealth against inflation, you can call 888-959-1776. One of our Account Executives will be happy to speak with you and form a plan for you to achieve your goals. You can also fill out the form at the bottom of this page.

Conclusion

Should you buy collectible gold coins? If your goal is to simply protect yourself from hyperinflation, then the answer is “Absolutely Not”. If you have time to spare and are confident in your research, this may be an option for you. It all comes down to your goals with investing.

Patriot Gold Supply looks forward to getting you closer to your goals.