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.
There is one bright piece of information to report. The only investment that has increased in value is gold. Gold coins are valued at $1,947.88 an ounce and the spot price for gold bullion is over $1,844.00 an ounce at the close of business yesterday. Some bullion dealers believe that gold will hit $5,000 an ounce in the coming year…they may be right or they may be wrong, it’s for you to decide, but those forecasts seems fairly realistic given the economic realities we face today. Gold has increased in value over 600% in the past ten years.
Demand takes a form of its own and here we will take a look at some of the areas of consumption in silver that help drive the price of silver to different levels. One thing to keep in mind when it comes to silver is that Demand = Supply. Whatever silver is mined throughout the year is eventually used to calculate demand. You may be asking how that is possible and the answer is simple; the silver must go somewhere. Silver can be sold to refineries, photograph companies or held as reserve which is considered a company’s investing asset. The selling of silver to multiple industries is the demand side of the Supply and Demand model. The price is dictated by the amount a particular industry is willing to pay to take control over the supply miners produce.
“>coin dealer Tobaccoville when he mentioned our whole experience to the shop owner. Surprised, the coin shop owner informed him that coin shop buy back precious metals – including broken and unwanted jewelry! They pay roughly 70 to 80 percent of current market value for the metals, weighing them and verifying the rates for you. This ensures you get a fair price for the metals, and it’s free, so walking away is always an option.
You can bet that a low-priced coin is marked less because of the grading company used or none at all. When looking online at eBay for example, the MS or mint state grading might be listed as MS64 by the dealer, when the coin is closer to a MS62 when actually graded by the PCGS in the future. I would only buy something pre-graded or, if it’s a cheap coin say under $10, take a small chance and then send to the PCGS to have it graded for yourself.
The price of gold may be a little high, but the returns can be overwhelming. Any form of gold is valuable, even if it is scrap. Some people have old gold coins, and jewelry just lying around the house. They probably have not taken the time to take their coins to the coin shop for an estimate.