is buying investing in rare coins (us mint and earlier) safer than buying bullion… or smarter too.?
congress scares me. i have heard both sides of the stimulus package but everyone agrees it is to small. where do i put my savings. where do i put the cash from my pickle jar under the porch.
Buying pre 1933 US gold coins is not “safer” However is is wiser. Here is the reason why. The gold coins currently produced by the US mint called the gold eagles are in very short supply. Also the only gold coins being produced are the 1 ounce gold eagles. The 1 ounce gold eagles are great coins but there is a problem with them. Under current law when you go to cash them in the dealer or trading company has to report that to the IRS on a 1099 if you trade in 10 coins or more. This is not required for the fractional glod coins such as the 1/10 ounce, 1/4 ounce, and 1/2 ounce gold eagles. Sadly the US mint shut down production of the fractional gold coins in September of 2008 to prevent the public from protecting themselves. They also started rationing and increasing the minimum amount that the dealers and bullion banks will recieve and the quanity they must sell to individuals. Most companies now require a 10 one ounce coin min just to get into this market. They have effectly priced most people out of wealth protection by doing this.
I personally buy pre 1933 US $20 gold coins for many reasons. There is no reporting requirement on 1099 to the IRS when you sell back your gold coins in ANY amount. Also pre 1933 gold coins have outpaced gold bullion coins in overall returns over the last 10 years. The reason it has outpaced gold bullion coins is they cant go back and make this material. Pre 1933 US $20 gold pieces currently cost about $1250 pre coin on average. Their increase over the last 10 years has been an average of 33% per year. Gold bullion on the other hand is currently selling for about $975 if you can find it. It has gone up only 22% per year over the last 10 years. Pre 1933 US $20 gold has outpaced all other investment classes. No exception.
Alot of people also say that the pre 1933 gold is better because it cant be confiscated. This is not true. It would MOST LIKELY be exempt from a confiscation. However our money is not backed by gold any longer and the likelyhood of another gold confiscation today is very small. Unlike 1933 only about 1 in 15,000 housholds own gold. Also the US would be the laughing stock if they began a gold confiscation again. China recently allowed the ownership of gold. I find the confiscation possibility a non factor in choosing what gold to own. I buy what I can find but I prefer the pre 1933 US $20 gold pieces on the lower end, the ungraded raw coins for my holding.
Your Complete Source for Rare Coins and Bullion. Dallas Gold & Silver Exchange
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12 WE BUY SILVER DECAL sticker gold sell rare cash bullion diamonds coins $9.99 This 4.5″ x 12″ decal is printed on premium grade exterior vinyl perfect for outdoor use for 5+ years or will look great inside. All decals are supplied with application film for easy installation. These will stick to any smooth surface – aluminum, glass, stainless steel, wood or plexiglas. All sizes are approx. You can’t go wrong with a SignMission decal!… |
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