In our world, we want to make successful investments to keep the financial situation stable. Most people invest in real estate, bank deposits, securities, gold bullions, etc. And have you ever thought about investing in coins? In our article, we will show the main pros and cons of this investment.
Benefits to Have Gold Coins Investments
Here are the main advantages of investing your money into gold coins:
- When you purchase coins, you will never have to worry about inflation;
- People who purchase coins, mustn’t pay any capital gains tax until they sell;
- Nobody will know that you have coins at home until you tell them if it’s an important point for you;
- Even if a massive devaluation happens, it’s possible to use coins to buy and sell goods. Maybe it sounds a bit odd but in some countries, these cases already happened;
- If any other investments start to decline, gold goes up.
Disadvantages to Have Gold Coins Investments
Of course, apart from the pros, there are several cons of buying gold coins:
- Thieves can steal your coins if you didn’t hide them properly.
- You cannot get any dividends from gold as you can get from bonds and stocks.
- Sometimes, you may need to wait for many years until gold starts to go up.
Tips on Buying and Keeping Gold Coins
We want to share several tips that may be helpful for those people who only want to start making investments in gold.
- If you’ve already made a decision to purchase coins, find a reliable financial institution or a well-known dealer;
- When you want to purchase Canadian gold coins from any seller, it’s better to make sure their authenticity is verified before the deal is finished;
- When you purchase coins, you must pay a “premium” over their price – this is how your dealer gets a profit;
- If you want to purchase coins less than 1 ounce each, you’ll need to pay a higher premium;
- Numismatic coins have nothing in common with bullion gold coins. These items can be sold at a higher premium because the price depends on many factors;
- If you are not very familiar with numismatic coins, try to have a deal with bullion coins only;
- When you already purchased the coins, save them carefully to avoid fingerprints and scratches;
- Never hide your coins in the house unless you’ve got a good safe. Thieves can find them easily with a metal detector, and they know exactly where to search for such things;
- Be careful and do not buy too many gold coins. It’s suggested keeping 5-15% of your money in gold coins.
Gold Coins Investments
As you can see, it’s possible to make successful investments in gold coins – of course, it has some cons, but like any kind of investment may have a part of risk. You can get a lot of useful benefits from purchasing gold coins, but of course, the final decision is yours!