Many threads go into bullion gold coins...which to buy, yadda yadda yadda... Let's turn for a moment to two other catagories 1) the most cost effective United States gold coin and 2) the most cost effective World gold coin. I have very little gold and would like to get the best bang for my buck.
1. Liberty Head $10 Eagle (common dates). Significantly less popular than the Indian Head variety and it shows up in the prices. 2. Common date Latin Monetary Union 20 lire/franc coinage (Italy, France, Switzerland specifically, but sometimes you can snag a good deal on issues from other countries as well)
I keep hearing "horror stories" about foreign gold coins being less gold and more silver and such bringing the gold content much less than U.S. gold coin standards. I have some foreign gold but mostly because I got it at a pretty good price. Can ANYONE cure my foreign gold Phobia and tell me the facts as i know them are wrong?
Welllllll - the answer is far simpler than one might think, and the answer is, there are so many, in both categories, you can simply take your pick. What I'm trying to tell you is that common date/mint coins, both US and world, are treated and priced as bullion. And that includes those graded and slabbed as high as MS63 and MS64 in some cases. And they can be purchased as such pretty much any day of the week. Now that said, can you find examples priced much higher ? Yeah, of course ya can. But those sellers are targeting those who simply don't know any better.
I would add one more thing. If one wishes to own some gold simply to own some gold - just go buy some bullion (bars of any size) at the best price you can find. It'll be much simpler and easier than hunting for coins. And, you won't have to worry about counterfeits. The prices are gonna basically be the same, but ease and peace of mind - well they do add something into the equation.
Cost effective as in the most gold for the buck? I think that would have to be modern bullion strikes. Because I am a coin collector first and bullion guy second, I much prefer pre-33 gold. I just happened to have my gold out and I can say all but two or three pieces were purchased at spot price levels. However that was before bullion went crazy. I think we will get there again and I’ll sit tight until it does.
There are many counterfeit gold bullion bars, Some even in packaging that looks just like the original. Some are tungsten that are gold plated. they can even be exactly the correct weight. (Usually the thickness is off slightly) The PAMP bars have well known common counterfeits all wrapped up nice and pretty. All the major bar manufactures have been counterfeited. Primarily the counterfeits seem to come from China. In China, many companies make these and the government does not see it a problem, unless they are counterfeiting China products. Such a shame. Until China cracks down on the counterfeiters of all products one will need to be very diligent about any purchase they make especially from online sources and from overseas as recourse is very difficult and many times they are not discovered until many years later.
I can not argue with any of the answers. All I can add is, go for the gold, American gold, in my opinion. Very good post, thank you.
True, but as long as you buy from a reputable source the risk of getting a counterfeit bar is pretty much non existent. And granted, the same can be said when buying bullion grade coins - defined as common date/mint older coins, and modern bullion coins - as well. Of course to be risk free one can buy slabbed older gold, world or US, for about spot plus 10% - which is often what plain bullion cost. The advantage of plain bullion is that it can sometimes be found for a couple percentage points less. And 2% adds up over time. In the end, it is your reason for buying gold that often decides the issue. Gold is gold regardless of its form, and if all you want is gold for the sake of owning gold then its form doesn't matter. But if your inclination is owning gold coins and not just bullion - well, there you have it.
