@mangymantis You ar … @mangymantis You ar correct and any purchase of gold is never report to the government. In a recall of gold, the government doesn’t go around collecting the gold. They just close the window making it impossible to sell outside a black market.
The Spot price of … The Spot price of gold is set twice a day in London. The market then adjust accordingly. From that point any mark ups or premiums are added. I have seen this range from $50 to $70 over spot for 1 oz gold coins
what does over spot … what does over spot or above spot mean? ex. if a gold bar cost 40.00 to make they sell for 45.00 as profit so over spot would be 5.00?
We sell both … We sell both bullion gold and numismatic gold….It is up to the client which way they wish to go. My job is to help educate them and offer fair prices and a place to sell them back. Typically numismatic coins will move higher and faster in the market. If not it wouldn’t make sense to pay the premium. Right now our premium above bullion is 36%. In the end if we have an all out collapse of the economy, gold will be gold and no one will care if it is old or new.
Your own web site … Your own web site sells MS-61 and MS-63 for $1605 and $820 resp. (today’s est. spot price for the .9645 of gold in double eagles is approx. $1080). That’s a 50%+ bump over spot and a LOT more cash out of the avg gold buyer’s pocket UP FRONT.
Anything above spot is a risk. Pre’33s are great just not for avg investor looking to defend himself. NO dealer is legally bound to buy anything back (nor should they be) because dealer can’t see future and can’t be held for it.
Many companies have … Many companies have a 25% or higher premium on numismatic coins. We only operate on a 8% spread. That is your total downside risk. We offer a two way market and anytime a client wishes to liquidate we stand ready to buy back their entire portfolio. Also we do not recommend rare dated coins unless they are a rare coin collector. We typically deal in common date coins… Nothing rare. Before you try scaring people, you might want to get your facts correct.
When it comes to … When it comes to Gold American Eagles when you as a consumer sell 25 oz or more at one time. Then the transaction is reported to the IRS. Also most numismatic coins now come from European banks. Check your fact. Finally could Numismatic coins be confiscated… anything is possible, but since they fall into a collectable form, they may as well confiscate collectable art.
@topbluffa1 All … @topbluffa1 All coins both bullion and numismatic are subject to market movements.. If you bought gold at $1200 and sold now you would loose money. The best strategy is to buy on corrections such as we are in now. Yes to your final question, but that would be worst case. collectable coins always carry a premium
some other video … some other video said the collectable coins that are private loose value or somthing ?
is this true?
can it not be sold for its weight value?
so to keep it short … so to keep it short and sweet would single coin would you suggest as a investment that can be re sold in the future easily and is private and cant be re called.
Under the present … Under the present circumstances I would have to agree. Remember It is not the buying of gold that gets reported, it is the selling of your gold when it is 25 ounces of bullion or more.
given the actions … given the actions of fdr confiscating gold from the public during the depression, and many thinking the same will happen soon, i would think transferring your wealth into a stable medium would be best done privately.
I wish that could … I wish that could be the case, but with the patriot act anything over $10000 in cash has to be reported via a 1088 form. if I do not know you then anything over $3000 in cash I have to get a copy of your drivers license.
if a man was to … if a man was to walk in with 100,000 in cash could he buy the equivalent in Canadian Maple leaf gold coins, no questions asked, no i.d.?
what does this ms … what does this ms 63 stand for? i am planning on hitting a couple coin autions this weekend to buy some however i am so new the game it is not funny. i am not planning on making money only keeping what i have. ty brian
thank you for your … thank you for your fast responce. i am very new to the whole gold buying and not even sure what the difference is. i am going to watch a few more of your vids so i can be more informed.
It would depend on … It would depend on the actual grade of the coin. If it was MS 63 or higher then yes… that would be a great deal. ms 62 or lower… you should be able to get them cheeper
How to Buy Gold coins
Thanks for the info …
Thanks for the info. What do you think of the british sov? Good / bad investment?
Really appreciate the education.
@mangymantis You ar …
@mangymantis You ar correct and any purchase of gold is never report to the government. In a recall of gold, the government doesn’t go around collecting the gold. They just close the window making it impossible to sell outside a black market.
The Spot price of …
The Spot price of gold is set twice a day in London. The market then adjust accordingly. From that point any mark ups or premiums are added. I have seen this range from $50 to $70 over spot for 1 oz gold coins
just don’t tell …
just don’t tell anyone you got em
what does over spot …
what does over spot or above spot mean? ex. if a gold bar cost 40.00 to make they sell for 45.00 as profit so over spot would be 5.00?
We sell both …
We sell both bullion gold and numismatic gold….It is up to the client which way they wish to go. My job is to help educate them and offer fair prices and a place to sell them back. Typically numismatic coins will move higher and faster in the market. If not it wouldn’t make sense to pay the premium. Right now our premium above bullion is 36%. In the end if we have an all out collapse of the economy, gold will be gold and no one will care if it is old or new.
Your own web site …
Your own web site sells MS-61 and MS-63 for $1605 and $820 resp. (today’s est. spot price for the .9645 of gold in double eagles is approx. $1080). That’s a 50%+ bump over spot and a LOT more cash out of the avg gold buyer’s pocket UP FRONT.
Anything above spot is a risk. Pre’33s are great just not for avg investor looking to defend himself. NO dealer is legally bound to buy anything back (nor should they be) because dealer can’t see future and can’t be held for it.
Many companies have …
Many companies have a 25% or higher premium on numismatic coins. We only operate on a 8% spread. That is your total downside risk. We offer a two way market and anytime a client wishes to liquidate we stand ready to buy back their entire portfolio. Also we do not recommend rare dated coins unless they are a rare coin collector. We typically deal in common date coins… Nothing rare. Before you try scaring people, you might want to get your facts correct.
When it comes to …
When it comes to Gold American Eagles when you as a consumer sell 25 oz or more at one time. Then the transaction is reported to the IRS. Also most numismatic coins now come from European banks. Check your fact. Finally could Numismatic coins be confiscated… anything is possible, but since they fall into a collectable form, they may as well confiscate collectable art.
Great information!
Great information!
@topbluffa1 All …
@topbluffa1 All coins both bullion and numismatic are subject to market movements.. If you bought gold at $1200 and sold now you would loose money. The best strategy is to buy on corrections such as we are in now. Yes to your final question, but that would be worst case. collectable coins always carry a premium
@topbluffa1 I would …
@topbluffa1 I would recommend a ms 61 Liberty
some other video …
some other video said the collectable coins that are private loose value or somthing ?
is this true?
can it not be sold for its weight value?
so to keep it short …
so to keep it short and sweet would single coin would you suggest as a investment that can be re sold in the future easily and is private and cant be re called.
Under the present …
Under the present circumstances I would have to agree. Remember It is not the buying of gold that gets reported, it is the selling of your gold when it is 25 ounces of bullion or more.
given the actions …
given the actions of fdr confiscating gold from the public during the depression, and many thinking the same will happen soon, i would think transferring your wealth into a stable medium would be best done privately.
I wish that could …
I wish that could be the case, but with the patriot act anything over $10000 in cash has to be reported via a 1088 form. if I do not know you then anything over $3000 in cash I have to get a copy of your drivers license.
if a man was to …
if a man was to walk in with 100,000 in cash could he buy the equivalent in Canadian Maple leaf gold coins, no questions asked, no i.d.?
MS stands for mint …
MS stands for mint state and 63 is the grade number based on 70 being perfect. 60 and higher is considered uncirculated.
what does this ms …
what does this ms 63 stand for? i am planning on hitting a couple coin autions this weekend to buy some however i am so new the game it is not funny. i am not planning on making money only keeping what i have. ty brian
Make sure you buy …
Make sure you buy PCGS or NGC graded coins and ask what their buy back spread is. Try and get it below 10%
thank you for your …
thank you for your fast responce. i am very new to the whole gold buying and not even sure what the difference is. i am going to watch a few more of your vids so i can be more informed.
It would depend on …
It would depend on the actual grade of the coin. If it was MS 63 or higher then yes… that would be a great deal. ms 62 or lower… you should be able to get them cheeper
i went to a coin …
i went to a coin store to day and they wanted 2200 for a ms 20 liberty. would this be a good deal.
I think it would …
I think it would only apply to gold american eagles