How to buy a gold coin?

Gold coins are an extremely popular investment, and there are many ways to buy gold coins. Explore this guide on how to invest in gold coins like a pro!

How to buy a gold coin?

Gold coins are a smart investment for anyone looking to inflation-proof their investment portfolio. If you are thinking of buying gold coins, it is important to look at your options.

Investing in Gold Coins

Buying gold coins is a popular way to acquire a precious metal. Not only is it a good investment but owning gold coins lets you keep control of your investment. You can even choose to keep your collection of gold coins at home if you want to keep them close, with the right insurance, although it’s recommended that they be stored in a safety deposit box or similar secure location.

As a private investor, you too can ensure a more balanced, less risky portfolio by including a percentage of gold in the mix. It is a time-tested way to protect wealth as the gold has historically held its value, being based on its physical nature and worth. Other investments can be eroded or even lost completely but investing in gold coins will protect your wealth. There is an inverse relationship between the stock market and the value of gold. When the market takes a downturn, many investors convert their shares and stock investments to gold. It is also possible to buy gold low and sell high later, thus gaining a nice profit.

An ounce of gold that would have cost £200 thirty years ago is worth around £130,000 today.Consider what inflation has done to the £200 in fiat over the same period.

Forms Of Gold Coins to Buy

Gold comes in different forms.Originally, it was available as jewellery, bars, and gold coins to buy.Nowadays, there are also digital platforms where gold is traded.

Gold investment coins include Britannias, Krugerrands, American Gold Eagles, American Buffalos, and Vienna Philharmonis. These gold coins come in various weights, for example, one ounce, 1.4 oz, and 1/10oz. When buying a gold coin, the spot value of gold determines the price, to which a small premium is added.

Because gold coins are classed as legal tender, capital gains tax (CGT) exemptions apply.

When you purchase shares and stocks, the question of where to store them does not arise. But when one buys gold, albeit in the form of gold bars or coins, it has to be securely stored to prevent thievery. While some new owners of gold will choose to store them in a home safe and pay for the insurance, a small fee is worth it to have them housed at, e.g., A Bank Grade vault, or another safety deposit box in a secure vault, under their security and insurance. It is a personal choice.

Where to Buy Gold Coins

Individual buyers can purchase gold coins from The Royal Mint or other dealers in precious metals. Single coins can be bought, such as one Krugerrand. Else, the person can buy various sizes of coins that come in tubes. It is easiest for the new gold coin buyer to break into the market with the purchase of one or more smaller coins that are less expensive to obtain than bigger gold coins.

Buying Gold Coins from Royal Mint

Anyone can buy gold coins directly from the Royal Mint, once an account has been created. The RoyalMint sells all types of gold coins and bars made from the purest gold. This includes commemorative gold coins such as the Queen Elizabeth Memorial Sovereign 2022 Gold Proof Coin. Tubes of ten gold coins are also available.

Buying Gold Coins Online

The simplest way to purchase gold coins is either directly from a reputable company or online. If you buy in person, you will be faced with having to transport the gold coins yourself from the shop to your safe at home. This can be extremely risky. This makes online purchasing of gold coins conceivably the best option.

Some advantages of making use of an online dealer in precious metals, including gold coins, are as follows:

·       The dealer can arrange to ship your gold coins to a vault that has the security to protect it and is a far safer choice than a home safe. (You could also use a safety deposit box at your local bank; However, you would be constrained by their normal operating hours from collecting your valuables outside of these hours.)

·       The dealer can assist you with buying gold coins from different global mints so that you are not forced to only purchase local gold coins.

·       The dealer can obtain requisite advice and information from multiple specialists around the world regarding gold coins and other precious metals or forms of gold.

·       Provide 24/7 convenience shopping that fits your schedule.

Buying Gold Coins Locally

If you don’t want to purchase gold coins online, you can also buy them from local dealers. There are coin shops that sell gold coins, among other types of coins. Here you will find coins such as RoyalMint Gold Sovereigns from various eras. These are highly collectible as well as being a source of value.

Bullion dealers sell gold in all forms, including as coins. Search for a local bullion dealer; they are typically found in larger towns and cities. The great thing about purchasing gold coins from a local bullion dealer is that they also provide on-site storage, so you don’t need to worry about securing your gold coin collection at home. Any gold coins you purchase can be safely stored in purpose-built safety deposit boxes. This gives you the freedom to come and collect your gold coins at any time, for a small weekly storage fee.  

Purchasing gold coins is a good way to make a sound investment that will not be negatively affected by inflation or lose its intrinsic value. This will protect your wealth securely and give you a more balanced, and less risky, portfolio. You do not need much money to get started and can begin by purchasing the gold coins with the smallest weights initially. When the stock market goes through a bad patch, you can convert other assets into gold coins.