Got a question for an old woman...

My mother must have got some ideas when she was over seeing my slabbed gold coins. She wants to invest 10k in gold - Edited - . Just looking for some ideas on how I should direct her... I would hunt down older coins but what do you all suggest?

 

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Tin foil is selling at a discount I hear!

 

Yeah, k

 

You should advise your mother not to believe all of the claims - Edited - .

 

And even worse , don't let her fall for the Gold frauds that are on late night TV. And also the gold IRA FRAUDS. Read some of the last few weeks in this part of the forum. This is economy territory that has way too many unknown factors if it is more than 10% of her savings, but it is just opinion. Jim

 

Thanks my fuhrer, was just asking a question...

 

Since she is just looking to protect her money, I assume, I would suggest Gold Eagles as close to spot as you can get.

As pointed out, try to (find out and then) make sure that it is no more than 10% of her portfolio, and no more than 5% would be better.

From a reputable dealer, obviously, and slabbed for authenticity, not grade, so they don’t have to be 70s. Slabbed gives the buyer, and, down the road, future buyer, more confidence in the authenticity.

edit: if you’re her only heir, get some good old coins jk

 

+1. I would check the price difference of slabbed vs non slabbed. If it is a reputable dealer who can show you how they test them I don't see raw as an issue. The LCS I work for sells American Gold eagles for 6-8% over spot and gold maples for 5-6% over spot, to give you a good idea of the markup. You can compare prices with apmex/provident medals to get the best deal.

I think American Eagles or gold maples would be the best option. They are slightly easier to sell and appeal to a wider range of buyers than old gold in my experience. Eagles tend to go for 1-2% mark up more than maples, something which you also tend to get back when you sell them. I always tell my customers "if the market doubles you will get the 2% back when you sell them, but your 2% hasn't doubled." Essentially that you want the lowest premium possible if you are looking for gains in the price.

Also ask your LCS what percentage they will buy them back for when the time is right.

The only comment I will make on the investment logic is that I tend to turn more towards stocks/bonds for security and safeguarding. Gold is good but in the end most will lose money due to the costs of buying and selling on each end, along with inflation and taxes if your state charges them.

just my 2c

 

Buying slabbed will make it easier to sell LATER, if not selling to a dealer/shop that can test them. That is why I mentioned it.

 

Buy gold bullion, slabbed gold bullion not pre-33 for the big payoff!

 

This needs to be researched further to protect her interests.

 

One thing you might do is have her run ANY potential PM purchase by you before she pulls the trigger.

 

Does slabbing modern bullion really add that much liquidity? And is that liquidity likely to stay as counterfeit slabs get better and better?

 

I doubt it makes a big difference but I'd rather have a slabbed coin than a raw coin. As far as counterfeit slabs go, I've never come across a good looking one yet, they all look fake.

 

Yes, your majesty!

 

Yes, many people won't touch it especially at these inflated prices this year without it being slabbed given the huge counterfeit bullion market

It also greatly increases how and where you can sell it

 

Seek advice from a trusted local numismatist, your CPA, bank investment advisor. Do not rush into anything, there are plenty of option for her to look into, be safe not sorry! Best of luck and happy holidays.

 

Cute