Economic crisis has had a major impact on the stock market, but for precious metals, it isn’t usually so severe. In fact, metals often go up in value during recessions, rather than the other way around. This is what makes investing in gold and silver so valuable. Many investors choose bullion for their precious metals, such as with gold or silver coins. Avoid some of the more common mistakes and you will do nothing but benefit from investing in coins and other bullion for precious metals.
To get started with investing in coins, you can either get bulk bullion coins for the metal of your choice, or rare U.S. coins. Remember most of the rare coins are going to be gold and silver, while bullion coins may also be in platinum or even palladium in some rare occasions. Rare coins aren’t as high in demand as bullion, therefore only being valuable to a collector. It is also more expensive to get these types of coins, so new investors don’t usually like this option. Bullion coins don’t have monetary value, so they can’t be used for currency if need be. Instead, they are an alternative to other types of bullion, such as bars.
You can also be involved in investing in gold and silver bullion through the traditional bars. Bullion bars are measured in troy ounces, usually available in different sizes and shapes, from 10 to 100 troy ounces. Bullion bars are ideal for people who want a larger investment, as they are for bulk investments. The dealer is going to ask for a percentage above the spot price, meaning you’re paying a little over the value when you first invest.
To protect your investment and get a fair price, always do sufficient research of the coin dealer. Not all dealers are crooks, which means you need to research the honest ones. There are some things to look out for which can signal a good or bad coin dealer. The best dealer is going to focus on your needs and help you, especially if you’re a new precious metals investor. There are several factors that make up a good coin dealer. First of all, ask about their experience. If they have been around for a long time, they have learned to be an excellent dealer. They should also have excellent ethics, and be well liked among their peers.
Investing in gold and silver coins has three main factors: delivery, price, and coins versus bullion. Price is one of the most important factors, since new investors may not be entirely aware of what they’re paying for. There are reasons you may pay less than the spot price, which is discussed in the Monex pricing charts. Preferably, the dealer will guarantee delivery in 10-14 days; longer than 2 weeks is too long for precious metal coins. Any delay, and the buyer should be notified right away. New investors of gold and silver coins should also learn what the difference being rare coins and bullion coins is, as well as benefits of large investments with bullion bars.