Tips on the best places where you can find collectors gold coins.
Finding venues where to buy gold coins is not a difficult task anymore. Gold coin collecting is a progressive hobby and it has an active market.
The following are different ways and places where you can purchase legal tender gold coins.
1) Buying numismatic gold coins online
Nowadays, a practical way to buy old regular issue gold coins is through the internet. Just like your other web purchases, you have to do it with care as there are plenty of bogus buyers out there.
Nonetheless, buying gold coins in the web is still the most convenient method since you have plenty of choices to choose from.
• Online gold auction sites – purchasing gold coins from internet auction websites allows you to bid on a gold coin. Most gold coin collectors find this exciting. However, when a numismatic gold coin is in demand, its price may shoot up. Some rare numismatic coins can only be purchased through online auctions.
• Internet gold coin shops – when buying from online numismatic gold shops, you’re saving yourself from needless window-shopping trips. Websites of gold coin sellers are loaded with images of gold coins for sale. Simply, choose gold coin that you fancy, fill out an order form, and your purchase will arrive at your doorstep.
• Gold coin dealer websites – most established dealers of gold coins such as the PCGS have put up websites. Reputable gold coin dealers not only give you the convenience of internet shopping, they also offer maximum security when you buy numismatic gold coins from them. Online gold coin dealers are also updated with latest gold coin price so you’re sure you get the right value for your money.
2) Purchasing gold coins from local coin shops
The good thing about buying old currency gold at numismatic shops is that you can transact business with the coin seller personally. A main disadvantage with local gold coin shops is its price disparity.
Small-time gold coin sellers usually put a high premium or mark up price. Vintage gold coin retailers often have a limited supply of numismatic gold coins since they are far from the coin mint.
3) Buying from gold coin dealers
Numismatic gold coin dealers are merchants who buy gold coins in bulk for resale. Dealers supply gold coins for sale to local antique coin shops. Most dealers also own coin stores.
More gold coin varieties are sold by coin dealers and are offered at lower prices than those sold by coin retailers. Aside from selling coins, dealers also buy coins from coin collectors.
4) Getting gold coins from coin brokers
Coin brokers are often mistaken as coin dealers. Some may deal numismatic gold coins but not all coin dealers are brokers. Gold coin brokers are hired by high-profile clients to purchase coins for them.
If you have the means, then hiring a gold coin broker is a good way to complete your numismatic collection without breaking a sweat. Gold coin brokers attend auctions and visit one numismatic shop to another, in search for the old gold coins that you ordered.
5) Buying gold coins at numismatic forums and coin collecting clubs
Joining exclusive coin collector clubs have its perks. Members of numismatic clubs can participate in their coin collecting forums online and can view the gold coins for sale listed in the classified ads. Members are also given newsletters about the latest numismatic gold coin prices.
The best thing about purchasing previously-circulated gold coins at coin collector forums is the sense of belongingness that you get from your co-members. Here, you get sound advice from others if the gold coin you are about to acquire is worth it or not.
6) Purchasing at gold coin auctions
In real life gold coin auctions, buyers bid against each other on the bourse or auction floor. As the bidding ends, the gold coin goes to the highest bidder.
Aside from online and live gold coin auctions, bidding antique gold coins through telephone auctions was once popular, too. Days before the actual auction day, participants are given catalogues of the gold coins for bidding.
The most valuable gold coins are regularly displayed in major auction houses. The rarer and more popular gold coin is, the more collectors are willing pay for it.
Numismatic gold coin auctions are thrilling to participate in as long as you have the capacity to pay for the item you’re bidding on. Set your own ceiling price for a vintage gold coin beforehand so you won’t overbid against your budget.
7) Shopping for gold coins at coin shows
Another interesting way in purchasing gold coins is through coin shows. A coin show is an event where dealers, sellers, and collectors gather around in one place to buy, sell, or trade collectible coins.
Gold coin buyers would hop from one coin dealer booth to another to find worthy numismatic deals. Sometimes, gold coin shows are for the benefit of a charitable institution. More often, they are annual events sponsored by big numismatic organizations or gold coin clubs.
8) Acquiring old gold coins from mail orders
Gold coin mail order companies send out magazines and catalogs publishing their latest numismatic gold coin collection. The buyer in return, would send his order along with the money or check.
Though this method in purchasing gold coins is no longer used today, there are still merchants who still practice it. If you wish to acquire old gold coinage through mail order, go for those that are slabbed or enclosed in a protective plastic casing. This way, your antique gold coin will not be damaged in shipping.