I am going to catch a lot of flak for writing this short article, but I really want to prevent first time gold bullion coin buyers from being ripped off… often by their own Governments.
One of the best places to look for a buffalo nickel, is right in your change. When you go to your local convenience store, you might be surprised at the rare coins that are sometimes passed along with your change for a dollar. Although it is estimated that there are only approximately 1 in 25,000 nickels that are an Indian head nickel, it is still worth a shot. So, it would be certainly rare, but this is the first place you will want to start looking for collectible coins.
Certain companies manufacture bars specifically for investing such as Johnson Matthey, or Engelhard, and these bars are beautifully designed and polished for viewing. The other type of bars you will find will be a plain looking block with the weight of the bar, “.999,” and perhaps the minting company’s logo roughly stamped on it. These bars are meant more for industrial uses instead of the investor, but have basically the same value to the investor as the nicely designed and polished bars. On the open market, the “investor” bars might carry a slight premium, but for the most part, bars of equal weight carry the same value.
Local coin shops may sometimes have a limited stock or collection of coins and the price they offer them for may be a little bit higher than usual. This scenario usually applies to collectors.