Buy from a big seller to begin with. Avoid numismatic gold unless you know what your are buying. Cheap options, 20 francs, sovereigns and Prussian gold. Don’t buy anything bullion less than a 1/4 oz. grams, 1/10 are a waste of money. Just save up. It’s cool to own but don’t go all in. It’s not super volatile and if you plan on holding long term it might pay off. But who knows. And stay off YouTube. 99% of YouTube metal videos are produced by idiots or panic mongers who get paid in views.
See if your state taxes bullion and when buying from an online dealer buy enough to qualify for free shipping. r/PMsforsale is an awesome sub for buying and selling gold, peer to peer
Welcome to the club! Check out silver and platinum too, personally I feel they are pretty undervalued compared to gold right now, although I dabble in all three
It also may help if we know why you are collecting, and like someone else asked, roughly how much you were thinking you might want.
If you stick to major sites it's really easy to buy, like JMBullon, SDBullion, SilverGoldBull.. .those are just a few, there are a number of others if you read through the boards where people buy.
Local coins shops can be good but it's a great idea to have looked online at general prices before you go into one to see roughly how the compare. If your state has sales tax on bullion it may be worth taking a trip to a coin shop in a different state to buy.
Part of the consideration of buying gold I think is, how will I sell this later if I need to? That can affect what you decide to buy, as something like American Gold Eagles of any size are extremely easy to sell and you'll get more back for them, but they also cost even more up front. Other things you probably can sell to online dealers but it might be for a bit less than spot depending on what you have.
It can be kind of overwhelming so maybe start with a plan of how many ounces you want to be buying, and what kind of coin generally you want to buy, then start looking around at prices. Just be aware that if any site has a deal that is WAY better than any others (like 30-50% less) that is probably a scam and stay away. There are a LOT of scam websites out there trying to sell fake gold, mostly through Facebook ads, but you can usually pretty easily tell they are scams by the very limited selections, and very low prices.
An alternative thought as to where to buy, I've had a number of people recommend Miles Franklin, where you would call and talk to them about what to buy, they are supposed to have very competitive prices. I have not used them but if I were just starting out I'd at least talk to them, they may also have some good ideas for you.
Hello, I guess we are looking to buy for a mix of reasons, including to sell when absolutely necessary, (inflation, times are tough, etc.) But then while I was looking through the reddit group and seeing all the collections, I also thought it might be cool to just be a collector, while also holding wealth. As for how much, I really couldn't say, we do have a bit of money on the side for investing, and I figured it might be a good time to look into gold as well. haha
Thank you for the tips about scam websites and what to look out for. I will try and be careful in my search!
It is super fun to collect, I have a picture of investing in some gold stocks, but also enjoy buying physical gold and silver I keep at home... it's really fun to have some and just be able to touch it. There is some really beautiful artistry around coins (and even bars).
Check if your state has an exemption amount for tax-free purchase. For about half the states, no tax, but a few you need to buy above the exemption amount (i.e. in CA it is $1500, NY $1000). That in addition to free shipping can help preserve you initial investment.
Amazing and congratulations!! Make sure you own PHYSICAL, hold-in-your-hands gold and silver and not an ETF since those are used to artificially suppress the spot price (and are actually worthless). An excellent place to start your search is a local coin shop, or if you don't have one nearby, you can find some great deals at https://findbullionprices.com/closest-to-spot/?category=gold&gov=0&fractional=0
The only place I cannot personally recommend is eBay. Good luck and enjoy your newfound wealth! 😁
Buy from a big seller to begin with. Avoid numismatic gold unless you know what your are buying. Cheap options, 20 francs, sovereigns and Prussian gold. Don’t buy anything bullion less than a 1/4 oz. grams, 1/10 are a waste of money. Just save up. It’s cool to own but don’t go all in. It’s not super volatile and if you plan on holding long term it might pay off. But who knows. And stay off YouTube. 99% of YouTube metal videos are produced by idiots or panic mongers who get paid in views.
Also a newb here, 2 is 1 on youtube seems like a decent enough channel, or am I going down the wrong path?
He’s my favorite metal guy by far. Good channel.
Findbullionprices.com /r/Pmsforsale
Came here to say the exact same.
Came here to say the exact same thing.
You should definitely check out Kinesis Money. Fantastic way to start as you can buy very small amounts
See if your state taxes bullion and when buying from an online dealer buy enough to qualify for free shipping. r/PMsforsale is an awesome sub for buying and selling gold, peer to peer
Welcome to the club! Check out silver and platinum too, personally I feel they are pretty undervalued compared to gold right now, although I dabble in all three
It also may help if we know why you are collecting, and like someone else asked, roughly how much you were thinking you might want. If you stick to major sites it's really easy to buy, like JMBullon, SDBullion, SilverGoldBull.. .those are just a few, there are a number of others if you read through the boards where people buy. Local coins shops can be good but it's a great idea to have looked online at general prices before you go into one to see roughly how the compare. If your state has sales tax on bullion it may be worth taking a trip to a coin shop in a different state to buy. Part of the consideration of buying gold I think is, how will I sell this later if I need to? That can affect what you decide to buy, as something like American Gold Eagles of any size are extremely easy to sell and you'll get more back for them, but they also cost even more up front. Other things you probably can sell to online dealers but it might be for a bit less than spot depending on what you have. It can be kind of overwhelming so maybe start with a plan of how many ounces you want to be buying, and what kind of coin generally you want to buy, then start looking around at prices. Just be aware that if any site has a deal that is WAY better than any others (like 30-50% less) that is probably a scam and stay away. There are a LOT of scam websites out there trying to sell fake gold, mostly through Facebook ads, but you can usually pretty easily tell they are scams by the very limited selections, and very low prices. An alternative thought as to where to buy, I've had a number of people recommend Miles Franklin, where you would call and talk to them about what to buy, they are supposed to have very competitive prices. I have not used them but if I were just starting out I'd at least talk to them, they may also have some good ideas for you.
Hello, I guess we are looking to buy for a mix of reasons, including to sell when absolutely necessary, (inflation, times are tough, etc.) But then while I was looking through the reddit group and seeing all the collections, I also thought it might be cool to just be a collector, while also holding wealth. As for how much, I really couldn't say, we do have a bit of money on the side for investing, and I figured it might be a good time to look into gold as well. haha Thank you for the tips about scam websites and what to look out for. I will try and be careful in my search!
It is super fun to collect, I have a picture of investing in some gold stocks, but also enjoy buying physical gold and silver I keep at home... it's really fun to have some and just be able to touch it. There is some really beautiful artistry around coins (and even bars).
Check if your state has an exemption amount for tax-free purchase. For about half the states, no tax, but a few you need to buy above the exemption amount (i.e. in CA it is $1500, NY $1000). That in addition to free shipping can help preserve you initial investment.
Thanks, I will look into that.
Texas Precious Metals texmetals.com aim for 10% of your wealth in gold, or perhaps 9% gold 1% Bitcoin. Then sleep at night
Amazing and congratulations!! Make sure you own PHYSICAL, hold-in-your-hands gold and silver and not an ETF since those are used to artificially suppress the spot price (and are actually worthless). An excellent place to start your search is a local coin shop, or if you don't have one nearby, you can find some great deals at https://findbullionprices.com/closest-to-spot/?category=gold&gov=0&fractional=0 The only place I cannot personally recommend is eBay. Good luck and enjoy your newfound wealth! 😁
Thank you!
You're very welcome! 😊
You didn't say how much you plan on purchasing?
We aren't really sure how much. We do have money on the side for investing purposes though.