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Gold coins are a popular investment option for new and savvy investors. They have served as currency for centuries, are widely recognized, and easily traded. As a pure gold product, they can be gifted similarly to cash but preserve wealth more effectively. They are assets that can be easily stacked, stored, and quickly liquidated when the time arises. Gold coins are typically one ounce in weight and offer a lower entry cost than larger gold bars. This allows people to start investing in gold without committing larger sums of money upfront.
Many gold coins are minted by governments with a face value, like The American Gold Eagle or South African Krugerrand. This provides further authenticity and ease when converting into cash because they can be sold worldwide.
When buying gold coins, there are two types to consider: bullion gold coins and numismatic gold coins. Bullion gold coins sell for the value of their gold content with small premiums. Numismatic coins are rare gold coins with a collectibility value. The value of these coins is based on their rare condition so they can cost much more than bullion coins. In contrast to bullion premiums, numismatic premiums can range from 30% to 50%, even up to 100%, depending on the dealer.
Numismatic coins can be a lifelong, fulfilling passion that can provide gains. However, because these values can be devalued during economic uncertainty and require extensive education, CMIGS mainly focuses on offering bullion gold coins as an uncomplicated option to invest in precious metals. CMIGS will buy and sell numismatic coins from the secondary market but value them closer to the metal content versus the collectability aspect
Standard bullion gold coins are 99.99% pure (.9999 fine, or 24 karat). Sometimes alloy metal is added to the gold coins for durability, but the metal weight is based entirely on the gold content. They are made of refined gold and are viewed as an investment rather than a collector coin. Bullion gold coins typically have minimal premiums of 2% to 5% for the cost of production and distribution. Bullion gold coins include privately and government-minted coins that usually have a face value associated with them, such as the American Gold Eagle or South African Krugerrand. Many investors prefer purchasing these government-minted coins because of their widespread recognition, iconic designs, and proof of authenticity.
Gold coins are a great way to start investing in gold. It is important to shop around and find the lowest premiums on gold coins, keeping in mind that Government-minted gold coins will typically have a slightly higher premium than privately minted gold coins. Whether you are a veteran in the world of precious metals or are making your first venture into buying or selling gold coins, CMI Gold & Silver is here for you. Our knowledgeable, non-commissioned brokers have years of experience in the industry and are standing by to provide you with answers to any of your questions.
Did you know you can set up a precious metals IRA with eligible gold and silver bullion products? Gold or silver have proven to be a safeguard for wealth during times of economic downturns and uncertainty, so why not use this same power to safeguard your retirement savings? With a gold or silver IRA, investors own and control the invested bullion through the convenience of a custodial in the storage of a safe and secure IRS-approved depository. Similar to cash IRAs, the same tax implications apply to precious metal Traditional IRA and Roth IRA contributions. But, with precious metal IRAs, you receive the added benefit of the power of wealth preservation from gold and silver.
For gold coins to be eligible for IRAs, they must be at least .999 fine or be American Gold Eagles. To learn more about setting up a self-directed IRA that accepts gold and silver products, read ‘Putting Gold and Silver in IRAs’.
For more information about how to buy gold coins from CMI Gold & Silver Inc., see ‘Doing Business with CMIGS‘. For more information on how to sell your gold coins to CMI Gold & Silver click here.
In addition to the above-mentioned coins, other gold bullion coins are sometimes available on the market. These gold coins include the Mexican 50 Pesos, the Austrian 100 Corona, the Hungarian 100 Korona, and the Austrian Philharmonic. Generally, these coins sell at smaller premiums than those described above.
Some are no longer minted but show up in the secondary market. Others are currently being minted but have not gained popularity and are harder to find. Many of these coins will appear on our specials. Check often for great prices on these historic coins.
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