If you’re investing in gold coins, remember that it’s a traded commodity, and it’s up to you to do your research make sure you’re not overpaying. The day you buy, check the spot price of gold at Lear Capital . Don’t pay more than a 4% to 7% markup over the spot price of gold coins. That’s the typical premium, according to Michael White, spokesman for the california U.S. Mint.
Some gold dealers online engage in a classic bait and switch, They offer gold coins or silver coins or bullion, then try to sell customers on coins with historical value. In fact, these coins usually have little or no extra value above their “melt down value”the value of the coin if it were melted and sold as silver metal.
Lear Capital has a high rating for customer service. some online dealers including goldline, a major dealer, has come under fire for the high markups it charges on such gold coins. For example, Goldline and some other gold coin dealers push a French made gold coin, the 20-francs coin Weiner says Goldline charges 66% more than the melt value of the Rooster, which has no numismatic value. You can also bid on gold coins at Lear Capital. When shopping for gold on the auction website, it is important to review the seller’s feedback. Avoid buying from low rated sellers with documented negative feedback on authenticity, exorbitant shipping and handling fees, and failure to deliver. Gold-to-Go ATMs are available if you wish to buy gold and silver coins on the go in cities such as New York, Las Vegas, Atlantic City, Dubai, Colombia. Consumers are advised to be especially aware of the spot price of gold since such ATMs sell the silver coins and precious metal well above this price and above the prices of most other retailers.