Im looking to purchase some american gold eagles and i was wondering if anyone can point me in the right direction. Should i order them offline or buy in person??? What is an acceptable premium??? Pm me if you have any for sale thank you!!!
The premium on a AGE is on the high side for 1 ounce official mint bullion coins. However in the USA it is a very easy coin to sell as well. The amount of premium you will pay, will of course, go down the more coins you buy at one time. Your local situation will determine if buying in person makes sense or not. Some states charge sales tax on local coin sales which makes it a non-starter given the amount of money we are talking about. You might be able to avoid this at local coin shows. If you go on-line, then the difference between the reputable vendors is mainly in the minimum size they will handle and how they handle payment. You will also have to cover the shipping charges which will be high given that they will have to include the costs of sending the coin via registered mail. For an AGE you are probably doing pretty good if you can get 4% not including shipping.
Howdy, Fatima laid out the basics. You might want to go to the local news stand or book store and get a copy of Coin World or Numismatic News. They are newspapers and have ads from many dealers selling gold via phone or online. I've bought bullion for years from Paul Sims whose name I got out of Coin World. Phone call, credit card, a few days and done. Check www.apmex.com for a price comparison benchmark. As mentioned, everyone discounts for volume purchases And the different types of bullion and bullion coins can have a huge impact on the premium. Here is my local dealers website. On the right side of the page is a link to a pdf of their Daily Quotes. It lists their price and percentage premium for the various bullion types. 1 oz. gold eagles are at 1816 including a 5.4% premium. Now, volume will get you a discount, but notice that a 1 oz. has a lower premium than a 1/2 oz., etc. Some coins have higher premiums and some lower. Check the Chinese Panda a 9.2%. One of the reasons the AGE has as high a premium as it does is because it's so easy to buy and sell. It's more fungible if you will. For this same reason, when dealing with silver bullion ingots or rounds, Engelhard and JohnsonMatthey are the brand names and command a higher premium - buying or selling - than stuff from the BFNowhere Mint and Bowling Alley - more fungible. http://www.libertycoinservice.com/ And again, as fatima said, check carefully about the payment procedures and fees. Some dealers charge extra for the use of credit card or whatever. good luck, rono
I was at a decent sized coin show yesterday afternoon and I noticed that from a bullion sales perspective, the AGE and it's fractionals were definitely king. Those are easy to buy and sell without much dickering. Assay'd Pamp Suisse bars were doing well too.
Well im gonna wait until i see some kind of opportunity in the gold market not yet i feel its a little on the high side. Just wanted to do a little research before hand.
